2023-04-012024-03-312024-03-31false07990567Home Rent West Wales 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Home Rent West Wales Limited

Registered Number
07990567
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

Home Rent West Wales Limited
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

G G Perfect
C A Perfect

Registered Address

Ffynnonddofn
74 High Street
Fishguard
SA65 9AU

Registered Number

07990567 (England and Wales)
Home Rent West Wales Limited
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets347,06459,431
47,06459,431
Current assets
Debtors42,073,1961,853,901
Cash at bank and on hand19,87816,012
2,093,0741,869,913
Creditors amounts falling due within one year5(1,415,249)(1,220,766)
Net current assets (liabilities)677,825649,147
Total assets less current liabilities724,889708,578
Creditors amounts falling due after one year6(34,974)(39,510)
Net assets689,915669,068
Capital and reserves
Called up share capital1010
Profit and loss account689,905669,058
Shareholders' funds689,915669,068
The financial statements were approved and authorised for issue by the Board of Directors on 16 August 2024, and are signed on its behalf by:
G G Perfect
Director
Registered Company No. 07990567
Home Rent West Wales Limited
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation.

Reducing balance (%)Straight line (years)
Land and buildings-25
Vehicles25-
2.Average number of employees
There were no employees during the years ended 31 March 2024 and 31 March 2023.

20242023
Average number of employees during the year00
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 2371,496
At 31 March 2471,496
Depreciation and impairment
At 01 April 2312,064
Charge for year12,368
At 31 March 2424,432
Net book value
At 31 March 2447,064
At 31 March 2359,431
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables2,65513,107
Other debtors2,070,5411,840,774
Prepayments and accrued income-20
Total2,073,1961,853,901
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-110
Bank borrowings and overdrafts4,5374,338
Taxation and social security12,6291,379
Other creditors1,378,0821,214,939
Accrued liabilities and deferred income20,001-
Total1,415,2491,220,766
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts34,97439,510
Total34,97439,510
7.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
G G Perfect(4,042)288,949216,04068,867
(4,042)288,949216,04068,867
Funds have been introduced since the year end to clear the overdrawn amount