Company Registration No. 4562249 (England and Wales)
HOMEMASTER REMOVALS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
PAGES FOR FILING WITH REGISTRAR
HOMEMASTER REMOVALS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
HOMEMASTER REMOVALS LIMITED
BALANCE SHEET
AS AT 31 OCTOBER 2023
31 October 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
106,237
120,888
Current assets
Debtors
5
7,513
9,812
Cash at bank and in hand
132,831
179,061
140,344
188,873
Creditors: amounts falling due within one year
6
(87,745)
(85,967)
Net current assets
52,599
102,906
Total assets less current liabilities
158,836
223,794
Provisions for liabilities
(19,952)
(22,353)
Net assets
138,884
201,441
Capital and reserves
Called up share capital
7
2,500
2,500
Profit and loss reserves
136,384
198,941
Total equity
138,884
201,441

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 8 April 2024 and are signed on its behalf by:
Mr E  Beedles
Director
Company registration number 4562249 (England and Wales)
HOMEMASTER REMOVALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
- 2 -
1
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2
Accounting policies
Company information

Homemaster Removals Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Wharf Business Park, Pontesbury, Shrewsbury, SY5 0QL.

2.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

2.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

2.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Leasehold
Straight line over the life of the lease
Plant and machinery
10% reducing balance
Fixtures, fittings & equipment
33% straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

2.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

HOMEMASTER REMOVALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
2
Accounting policies
(Continued)
- 3 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

2.5
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2.6
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
4
Tangible fixed assets
Land and buildings Leasehold
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 November 2022 and 31 October 2023
22,656
367,253
18,941
45,785
454,635
Depreciation and impairment
At 1 November 2022
22,656
259,269
16,444
35,378
333,747
Depreciation charged in the year
-
0
10,803
1,246
2,602
14,651
At 31 October 2023
22,656
270,072
17,690
37,980
348,398
Carrying amount
At 31 October 2023
-
0
97,181
1,251
7,805
106,237
At 31 October 2022
-
0
107,984
2,497
10,407
120,888
HOMEMASTER REMOVALS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 4 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
6,619
9,516
Other debtors
160
296
Prepayments and accrued income
734
-
0
7,513
9,812
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
4,680
7,757
Corporation tax
16,815
11,931
Other taxation and social security
5,578
4,753
Other creditors
51,435
53,557
Accruals and deferred income
9,237
7,969
87,745
85,967
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2,000
2,000
2,000
2,000
A Ordinary shares of £1 each
500
500
500
500
2,500
2,500
2,500
2,500
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
6,362
6,362
9
Directors' transactions

Dividends totalling £115,000 (2022 - £65,000) were paid in the year in respect of shares held by the company's directors and other family members.

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