4 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 04143713 2023-04-01 2024-03-31 04143713 2024-03-31 04143713 2023-03-31 04143713 2022-04-01 2023-03-31 04143713 2023-03-31 04143713 2022-03-31 04143713 bus:Director1 2023-04-01 2024-03-31 04143713 bus:Director2 2023-04-01 2024-03-31 04143713 core:PlantMachinery 2023-03-31 04143713 core:FurnitureFittings 2023-03-31 04143713 core:PlantMachinery 2024-03-31 04143713 core:FurnitureFittings 2024-03-31 04143713 core:PlantMachinery 2023-04-01 2024-03-31 04143713 core:FurnitureFittings 2023-04-01 2024-03-31 04143713 core:WithinOneYear 2024-03-31 04143713 core:WithinOneYear 2023-03-31 04143713 core:ShareCapital 2024-03-31 04143713 core:ShareCapital 2023-03-31 04143713 core:RetainedEarningsAccumulatedLosses 2024-03-31 04143713 core:RetainedEarningsAccumulatedLosses 2023-03-31 04143713 bus:SmallEntities 2023-04-01 2024-03-31 04143713 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04143713 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04143713 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04143713 bus:FullAccounts 2023-04-01 2024-03-31 04143713 core:OfficeEquipment 2023-03-31 04143713 core:OfficeEquipment 2023-04-01 2024-03-31 04143713 core:OfficeEquipment 2024-03-31
COMPANY REGISTRATION NUMBER: 04143713
HOMESMITHS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2024
HOMESMITHS LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
945
408
Current assets
Stocks
5,299
7,872
Debtors
6
119,363
183,710
Cash at bank and in hand
125,988
80,011
----------
----------
250,650
271,593
Creditors: amounts falling due within one year
7
( 83,767)
( 102,122)
----------
----------
Net current assets
166,883
169,471
----------
----------
Total assets less current liabilities
167,828
169,879
----------
----------
Net assets
167,828
169,879
----------
----------
Capital and reserves
Called up share capital
2
2
Profit and loss account
167,826
169,877
----------
----------
Shareholders funds
167,828
169,879
----------
----------
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 income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
HOMESMITHS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 16 August 2024 , and are signed on behalf of the board by:
D C Smith
J S Smith
Director
Director
Company registration number: 04143713
HOMESMITHS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 26 The Platt, Lindfield, Haywards Heath, West Sussex, RH16 2SY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
(a) 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.
(b) Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
(c) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
(d) Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss.
(e) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
(f) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and Equipment
-
4 years
Fixtures and Fittings
-
4 years
Office Equipment
-
3 years
(g) Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
(h) Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
(i) Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
(j) Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 April 2023
22,666
5,705
11,927
40,298
Additions
1,418
1,418
---------
-------
---------
---------
At 31 March 2024
22,666
5,705
13,345
41,716
---------
-------
---------
---------
Depreciation
At 1 April 2023
22,666
5,705
11,519
39,890
Charge for the year
881
881
---------
-------
---------
---------
At 31 March 2024
22,666
5,705
12,400
40,771
---------
-------
---------
---------
Carrying amount
At 31 March 2024
945
945
---------
-------
---------
---------
At 31 March 2023
408
408
---------
-------
---------
---------
6. Debtors
2024
2023
£
£
Trade debtors
49,114
63,008
Other debtors
70,249
120,702
----------
----------
119,363
183,710
----------
----------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
15,612
39,202
Corporation tax
9,199
17,941
Social security and other taxes
26,721
9,739
Other creditors
32,235
35,240
---------
----------
83,767
102,122
---------
----------
8. Directors' advances, credits and guarantees
No transactions with directors were undertaken such as were required to be disclosed under FRS 102 section 1a.