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Registered number: 8306499
Home Inspirations (SW) Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
C T B Book Keeping Limited
29 Looe Street
The Barbican
Plymouth
PL4 0EA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 8306499
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 4,000 4,000
Tangible Assets 5 112,667 201,190
116,667 205,190
CURRENT ASSETS
Stocks 6 32,899 47,748
Debtors 7 101,095 112,717
Cash at bank and in hand 43,111 52,219
177,105 212,684
Creditors: Amounts Falling Due Within One Year 8 (161,160 ) (177,500 )
NET CURRENT ASSETS (LIABILITIES) 15,945 35,184
TOTAL ASSETS LESS CURRENT LIABILITIES 132,612 240,374
Creditors: Amounts Falling Due After More Than One Year 9 (112,831 ) (190,382 )
NET ASSETS 19,781 49,992
CAPITAL AND RESERVES
Called up share capital 11 1 1
Profit and Loss Account 19,780 49,991
SHAREHOLDERS' FUNDS 19,781 49,992
Page 1
Page 2
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Ashley Rice
Director
30/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Home Inspirations (SW) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 8306499 . The registered office is 29 Looe Street, Plymouth, PL4 0EA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Infinite
Plant & Machinery 20% Reducing Balance
Motor Vehicles 20% Reducing Balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 1 1
Sales, marketing and distribution 4 4
5 5
4. Intangible Assets
Other
£
Cost
As at 1 December 2022 4,000
As at 30 November 2023 4,000
Net Book Value
As at 30 November 2023 4,000
As at 1 December 2022 4,000
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5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 December 2022 27,597 77,422 262,975 367,994
Additions - - 27,000 27,000
Disposals - - (94,255 ) (94,255 )
As at 30 November 2023 27,597 77,422 195,720 300,739
Depreciation
As at 1 December 2022 - 55,099 111,705 166,804
Provided during the period - 4,465 16,803 21,268
As at 30 November 2023 - 59,564 128,508 188,072
Net Book Value
As at 30 November 2023 27,597 17,858 67,212 112,667
As at 1 December 2022 27,597 22,323 151,270 201,190
6. Stocks
2023 2022
£ £
Materials 8,000 13,200
Work in progress 24,899 34,548
32,899 47,748
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 66,585 65,243
Prepayments and accrued income 254 254
Other debtors 25,454 25,454
VAT 8,802 21,766
101,095 112,717
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 135,264 169,205
Bank loans and overdrafts 23,446 5,995
Accruals and deferred income 2,450 2,300
161,160 177,500
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9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 63,528 124,258
Bank loans 26,667 36,667
Directors loan account 22,636 29,457
112,831 190,382
10. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Later than one year and not later than five years 63,528 124,258
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
12. Directors Advances, Credits and Guarantees
Dividends paid to directors
2023 2022
£ £
Mr Ashley Rice 20,000 -
13. Dividends
2023 2022
£ £
On equity shares:
Final dividend paid 20,000 -
14. Ultimate Controlling Party
The company's ultimate controlling party is Ashley Rice by virtue of his ownership of 100% of the issued share capital in the company.
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