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Registration number: 08712156

Home Workshop (Doncaster) Limited

Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Home Workshop (Doncaster) Limited

(Registration number: 08712156)

Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

3

-

888

Tangible assets

4

1,592

1,990

 

1,592

2,878

Current assets

 

Stocks

4,718

6,012

Debtors

-

2,305

Cash at bank and in hand

 

1,238

1,042

 

5,956

9,359

Creditors: Amounts falling due within one year

5

(32,879)

(33,173)

Net current liabilities

 

(26,923)

(23,814)

Net liabilities

 

(25,331)

(20,936)

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

(25,332)

(20,937)

Shareholders' deficit

 

(25,331)

(20,936)

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the director on 30 July 2024
 

.........................................

Lynn Yates
Director

 

Home Workshop (Doncaster) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

Accounting policies

Home Workshop (Doncaster) Limited is a private company, limited by shares, domiciled in England and Wales, company number 08712156. The registered office is at 30 Nostell Place, Bessacarr, Doncaster, South Yorkshire, DN4 7JA.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

These financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

After due consideration of all relevant factors, the directors have reasonable expectation that the company has adequarte resources to continue in operational exsistence for the forseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities.

Government grants

Grants that do not impose specified future performance-related conditions are recognised in income when the grant proceeds are received or receivable. Grants that impose specified future performance-related conditions are recognised in income only when the performance-related conditions are met. Grants received before the revenue recognition criteria are satisfied are recognised as a liability.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Home Workshop (Doncaster) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Asset class

Depreciation method and rate

Fixtures and fittings

20% reducing balance & 20% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight line over 10 years

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

 

Home Workshop (Doncaster) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

3

Intangible assets

Goodwill
 £

Total
£

Cost

At 1 November 2022

8,889

8,889

At 31 October 2023

8,889

8,889

Amortisation

At 1 November 2022

8,001

8,001

Amortisation charge

888

888

At 31 October 2023

8,889

8,889

Carrying amount

At 31 October 2023

-

-

At 31 October 2022

888

888

 

Home Workshop (Doncaster) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost

At 1 November 2022

61,172

61,172

At 31 October 2023

61,172

61,172

Depreciation

At 1 November 2022

59,182

59,182

Charge for the year

398

398

At 31 October 2023

59,580

59,580

Carrying amount

At 31 October 2023

1,592

1,592

At 31 October 2022

1,990

1,990

5

Creditors

2023
 £

2022
 £

Due within one year

Directors current account

31,937

-

Other payables

-

32,742

Accrued expenses

942

431

32,879

33,173