Company Registration No. 12236508 (England and Wales)
WELCOME 2 HOME LTD
Unaudited accounts
for the year ended 31 October 2023
WELCOME 2 HOME LTD
Unaudited accounts
Contents
WELCOME 2 HOME LTD
Company Information
for the year ended 31 October 2023
Directors
James John Tutty
John Brian Carter
Company Number
12236508 (England and Wales)
Registered Office
29 CONNAUGHT AVENUE
CHINGFORD
LONDON
E4 7AE
ENGLAND
Accountants
Genius Accountancy Ltd
27 Old Gloucester Street
London
WC1N 3AX
WELCOME 2 HOME LTD
Statement of financial position
as at 31 October 2023
Investment property
734,534
835,000
Cash at bank and in hand
-
14,971
Creditors: amounts falling due within one year
(1,241)
-
Net current (liabilities)/assets
(594)
19,900
Total assets less current liabilities
733,940
854,900
Creditors: amounts falling due after more than one year
(752,295)
(806,654)
Net (liabilities)/assets
(18,355)
48,246
Called up share capital
100
100
Revaluation reserve
29,216
36,388
Fair value reserve
129,823
167,570
Profit and loss account
(177,494)
(155,812)
Shareholders' funds
(18,355)
48,246
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
James John Tutty
Director
Company Registration No. 12236508
WELCOME 2 HOME LTD
Notes to the Accounts
for the year ended 31 October 2023
WELCOME 2 HOME LTD is a private company, limited by shares, registered in England and Wales, registration number 12236508. The registered office is 29 CONNAUGHT AVENUE, CHINGFORD, LONDON, E4 7AE, ENGLAND.
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 accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Average number of employees
Average number of employees also include director.
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.
Fair value at 1 November 2022
835,000
Net loss from fair value adjustments
(37,747)
At 31 October 2023
734,534
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
1,241
-
WELCOME 2 HOME LTD
Notes to the Accounts
for the year ended 31 October 2023
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
573,655
289,331
Other creditors
58,239
417,180
Loans from directors
120,401
100,143
As of the year end, the following amounts were reclassified from the profit and loss statement and balance sheet in comparative year:
A total amount of £8,145 has been reclassified from interest on finance leases and HP to interest on bank loans and overdrafts in the profit and loss statement.
A total amount of £220,678 has been reclassified from finance lease and HP contracts to bank loans.
8
Transactions with related parties
As at the year end, the following amounts were received from the companies under the common control of the directors.
Mr. James John Tutty:
Company: Nationwide Property Investing Limited £12,748.
As at the year end, the company owed the following amounts to related parties.
Loan from SASS Amounting £23,500.
Loan from Barry Tutty Amounting £15,000.
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).