1 29/02/2024 2024-02-29 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-03-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 13824695 2023-03-01 2024-02-29 13824695 2024-02-29 13824695 2022-03-01 2023-02-28 13824695 2023-02-28 13824695 bus:Director1 2023-03-01 2024-02-29 13824695 core:ShareCapital 2024-02-29 13824695 core:ShareCapital 2023-02-28 13824695 bus:SmallEntities 2023-03-01 2024-02-29 13824695 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 13824695 bus:FullAccounts 2023-03-01 2024-02-29 13824695 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 13824695 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13824695 core:ParentEntities 2023-03-01 2024-02-29
Company registration number: 13824695
Home Outlet Limited
Unaudited filleted financial statements
29 February 2024
Home Outlet Limited
Statement of financial position
29 February 2024
29/02/24 28/02/23
Note £ £ £ £
Current assets
Debtors 5 1 1
_______ _______
Net current assets 1 1
_______ _______
Net assets 1 1
_______ _______
Capital and reserves
Called up share capital 1 1
_______ _______
Shareholder funds 1 1
_______ _______
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 30 July 2024 , and are signed on behalf of the board by:
Mr M J Horton
Director
Company registration number: 13824695
Home Outlet Limited
Notes to the financial statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Crossways House, Wellingborough Road, Rushden, Northants, NN10 6AY.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The Director believes that the company will have adequate resources to meet its liabilities as they fall due and so to operate as a going concern for a period of at least twelve months from the date of these financial statements. The Director therefore considers it appropriate to continue to adopt the going concern basis in the preparation of these accounts
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Debtors
29/02/24 28/02/23
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 1 1
_______ _______
6. Related party transactions
The company has taken advantage of the provisions of FRS102 not to disclose transactions between group companies.
7. Controlling party
The company is a wholly owned subsidiary of Home Outlet Group Limited (of the same registered office) which is controlled by Mr M J Horton .