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REGISTERED NUMBER: 08601959 (England and Wales)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

HOME ALCHEMY LTD

HOME ALCHEMY LTD (REGISTERED NUMBER: 08601959)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HOME ALCHEMY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: C G Dawe
T Dawe





REGISTERED OFFICE: 3 Durrant Road
Bournemouth
Dorset
BH2 6NE





REGISTERED NUMBER: 08601959 (England and Wales)





ACCOUNTANTS: Carter & Coley
Chartered Accountants
3 Durrant Road
Bournemouth
Dorset
BH2 6NE

HOME ALCHEMY LTD (REGISTERED NUMBER: 08601959)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,266 1,960

CURRENT ASSETS
Stocks 83,087 74,186
Cash at bank and in hand 1,952 2,517
85,039 76,703
CREDITORS
Amounts falling due within one year 5 229,350 209,782
NET CURRENT LIABILITIES (144,311 ) (133,079 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(143,045

)

(131,119

)

CREDITORS
Amounts falling due after more than one
year

6

8,101

11,094
NET LIABILITIES (151,146 ) (142,213 )

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Retained earnings (171,146 ) (162,213 )
SHAREHOLDERS' FUNDS (151,146 ) (142,213 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

HOME ALCHEMY LTD (REGISTERED NUMBER: 08601959)

BALANCE SHEET - continued
31 JULY 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 April 2024 and were signed on its behalf by:





C G Dawe - Director


HOME ALCHEMY LTD (REGISTERED NUMBER: 08601959)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

Home Alchemy Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Despite creditors exceeding debtors the accounts have been prepared on a going concern basis as the directors have indicated that they will continue to support the company.

Turnover
Turnover represents goods sold and services provided during the period, net of Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


HOME ALCHEMY LTD (REGISTERED NUMBER: 08601959)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 August 2022
and 31 July 2023 130 381 14,883 4,580 19,974
DEPRECIATION
At 1 August 2022 130 381 13,195 4,308 18,014
Charge for year - - 422 272 694
At 31 July 2023 130 381 13,617 4,580 18,708
NET BOOK VALUE
At 31 July 2023 - - 1,266 - 1,266
At 31 July 2022 - - 1,688 272 1,960

HOME ALCHEMY LTD (REGISTERED NUMBER: 08601959)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 2,992 1,845
Taxation and social security 122 205
Other creditors 226,236 207,732
229,350 209,782

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 8,101 11,094

7. RELATED PARTY DISCLOSURES

At the balance sheet date the company had received loans from the directors of £225,711 (2022 - £206,963) which are included in creditors falling due within one year. The loans are interest free and repayable on demand.