IRIS Accounts Production v24.1.0.576 SC404430 Board of Directors 1.8.22 31.7.23 31.7.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC4044302022-07-31SC4044302023-07-31SC4044302022-08-012023-07-31SC4044302021-07-31SC4044302021-08-012022-07-31SC4044302022-07-31SC404430ns15:Scotland2022-08-012023-07-31SC404430ns14:PoundSterling2022-08-012023-07-31SC404430ns10:Director12022-08-012023-07-31SC404430ns10:PrivateLimitedCompanyLtd2022-08-012023-07-31SC404430ns10:SmallEntities2022-08-012023-07-31SC404430ns10:AuditExempt-NoAccountantsReport2022-08-012023-07-31SC404430ns10:SmallCompaniesRegimeForDirectorsReport2022-08-012023-07-31SC404430ns10:SmallCompaniesRegimeForAccounts2022-08-012023-07-31SC404430ns10:AbridgedAccounts2022-08-012023-07-31SC404430ns5:CurrentFinancialInstruments2023-07-31SC404430ns5:CurrentFinancialInstruments2022-07-31SC404430ns5:ShareCapital2023-07-31SC404430ns5:ShareCapital2022-07-31SC404430ns5:RetainedEarningsAccumulatedLosses2023-07-31SC404430ns5:RetainedEarningsAccumulatedLosses2022-07-31SC404430ns10:RegisteredOffice2022-08-012023-07-31SC404430ns5:FurnitureFittings2022-08-012023-07-31SC404430ns5:ComputerEquipment2022-08-012023-07-31
REGISTERED NUMBER: SC404430 (Scotland)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

HOMESEALED LTD

HOMESEALED LTD (REGISTERED NUMBER: SC404430)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


HOMESEALED LTD (REGISTERED NUMBER: SC404430)

ABRIDGED BALANCE SHEET
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,053 1,404

CURRENT ASSETS
Stocks 22,050 12,527
Debtors 45,000 -
Cash at bank 324,555 359,471
391,605 371,998
CREDITORS
Amounts falling due within one year 246,089 278,521
NET CURRENT ASSETS 145,516 93,477
TOTAL ASSETS LESS CURRENT
LIABILITIES

146,569

94,881

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 146,567 94,879
SHAREHOLDERS' FUNDS 146,569 94,881

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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 July 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

HOMESEALED LTD (REGISTERED NUMBER: SC404430)

ABRIDGED BALANCE SHEET - continued
31 July 2023



The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2024 and were signed on its behalf by:





J Mair - Director


HOMESEALED LTD (REGISTERED NUMBER: SC404430)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Homesealed Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number: SC404430

Registered office: Flemington House
110 Flemington Street
Glasgow
G21 4TD

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.

Turnover and revenue recognition
Turnover represents net invoiced sales of goods and services, excluding VAT. Revenue is recognised when goods and services are provided to the customer.

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

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

HOMESEALED LTD (REGISTERED NUMBER: SC404430)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

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 - 3 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2022
and 31 July 2023 3,307
DEPRECIATION
At 1 August 2022 1,903
Charge for year 351
At 31 July 2023 2,254
NET BOOK VALUE
At 31 July 2023 1,053
At 31 July 2022 1,404

5. COVID-19

As a result of the Covid-19 pandemic the company has been subject to a significant reduction in the expected level of trade.. In order to support the business during this period the company has applied for and received £50,000 from the Governments Coronavirus Bounce Back Loan Scheme.