Company Registration No. 06675740 (England and Wales)
HOMEBIRD INTERIORS LTD
Unaudited accounts
for the year ended 31 October 2023
HOMEBIRD INTERIORS LTD
Unaudited accounts
Contents
HOMEBIRD INTERIORS LTD
Company Information
for the year ended 31 October 2023
Directors
Mrs M Templeton
Mrs D Whittaker
Mr R I Templeton
Mr B Whittaker
Company Number
06675740 (England and Wales)
Registered Office
Swallows Ridge
Hollies Lane
Wilmslow
Cheshire
SK9 2BW
HOMEBIRD INTERIORS LTD
Statement of financial position
as at 31 October 2023
Tangible assets
618,985
80,007
Inventories
703,386
458,752
Cash at bank and in hand
438,258
460,656
Creditors: amounts falling due within one year
(1,283,565)
(767,285)
Net current assets
14,466
344,747
Total assets less current liabilities
633,451
424,754
Provisions for liabilities
Deferred tax
(15,201)
(15,201)
Net assets
618,250
409,553
Called up share capital
25,000
25,000
Profit and loss account
593,250
384,553
Shareholders' funds
618,250
409,553
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by
Mr R I Templeton
Director
Company Registration No. 06675740
HOMEBIRD INTERIORS LTD
Notes to the Accounts
for the year ended 31 October 2023
HOMEBIRD INTERIORS LTD is a private company, limited by shares, registered in England and Wales, registration number 06675740. The registered office is Swallows Ridge, Hollies Lane, Wilmslow, Cheshire, SK9 2BW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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 accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
HOMEBIRD INTERIORS LTD
Notes to the Accounts
for the year ended 31 October 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 November 2022
198,790
4,894
-
1,774
205,458
Additions
556,287
-
7,047
1,370
564,704
At 31 October 2023
755,077
4,894
7,047
3,144
770,162
At 1 November 2022
120,297
4,894
-
260
125,451
Charge for the year
21,833
-
3,153
740
25,726
At 31 October 2023
142,130
4,894
3,153
1,000
151,177
At 31 October 2023
612,947
-
3,894
2,144
618,985
At 31 October 2022
78,493
-
-
1,514
80,007
Amounts falling due within one year
Amounts due from group undertakings etc.
6,420
-
Accrued income and prepayments
13,873
13,663
Other debtors
136,094
178,961
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Creditors: amounts falling due within one year
2023
2022
Trade creditors
361,447
258,522
Amounts owed to group undertakings and other participating interests
204,988
74,428
Taxes and social security
46,904
74,561
Loans from directors
396,068
(23,498)
Deferred income
180,672
268,794
HOMEBIRD INTERIORS LTD
Notes to the Accounts
for the year ended 31 October 2023
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Transactions with related parties
At the year end, included within amounts owed to group undertakings the company owed balances to Homebird Group Limited of £60,744 (2022: £74,428) owed to the company.
Homebird Furniture and Home Accessories Limited, a company which Mrs M Templeton and Mr R I Templeton are directors owed £5,420 (2021: was owed £42,075) at the year end.
Homebird St Annes Limited, a group company, was owed £144,244 (2022: Nil) at the year end.
Homebird Online Limited, a company owned by Mr R I Templeton was owed £1,000 (2022: £5,000) at the year end.
During the year Acorn Capital Resources Ltd, a company to which Mr I Templeton is also a director, provided services to the company during the year totalling £38,180 (2022: £39,600)
As at the year end the company was owed £136,477 (2022: £173,961) from Chlobo Group Limited, a company where Mr R I Templeton is also a director.
At the current and proceeding year end the company was 100% owned by Homebird Group Limited. The ultimate controlling parties of Homebird Group Limited are Mrs M Templeton and Mrs D Whittaker.
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Average number of employees
During the year the average number of employees was 50 (2022: 44).