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Company No: 02646953 (England and Wales)

THE NEW HOMES SHOP LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

THE NEW HOMES SHOP LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

THE NEW HOMES SHOP LIMITED

COMPANY INFORMATION

For the financial year ended 30 April 2024
THE NEW HOMES SHOP LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2024
DIRECTORS Mr C J Harrill
Mrs K M Harrill
Mr R P Harrill
Mrs E L Hickson
SECRETARY Mrs K M Harrill
REGISTERED OFFICE Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
United Kingdom
BUSINESS ADDRESS 6 Coach Place
Newton Abbott
Devon
TQ12 1ES
COMPANY NUMBER 02646953 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
THE NEW HOMES SHOP LIMITED

BALANCE SHEET

As at 30 April 2024
THE NEW HOMES SHOP LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 5,491 6,377
5,491 6,377
Current assets
Stocks 90,264 290,250
Debtors 5 29 1,971
Cash at bank and in hand 311,749 55,497
402,042 347,718
Creditors: amounts falling due within one year 6 ( 2,251) ( 4,258)
Net current assets 399,791 343,460
Total assets less current liabilities 405,282 349,837
Provision for liabilities ( 1,373) 1,569
Net assets 403,909 351,406
Capital and reserves
Called-up share capital 7 300,104 300,104
Profit and loss account 103,805 51,302
Total shareholders' funds 403,909 351,406

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of The New Homes Shop Limited (registered number: 02646953) were approved and authorised for issue by the Board of Directors on 10 September 2024. They were signed on its behalf by:

Mrs K M Harrill
Director
THE NEW HOMES SHOP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
THE NEW HOMES SHOP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The New Homes Shop Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House, Oak View Close, Edginswell Park, Torquay, TQ2 7FF, United Kingdom. The principal place of business is 6 Coach Place, Newton Abbott, Devon, TQ12 1ES, .

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts receivable during the year for income due from serviced office accommodation and sale of property, exclusive of Value Added Tax.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs 3 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 10 % reducing balance
Office equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 4

3. Intangible assets

Website costs Total
£ £
Cost
At 01 May 2023 4,495 4,495
At 30 April 2024 4,495 4,495
Accumulated amortisation
At 01 May 2023 4,495 4,495
At 30 April 2024 4,495 4,495
Net book value
At 30 April 2024 0 0
At 30 April 2023 0 0

4. Tangible assets

Fixtures and fittings Office equipment Total
£ £ £
Cost
At 01 May 2023 11,957 8,436 20,393
At 30 April 2024 11,957 8,436 20,393
Accumulated depreciation
At 01 May 2023 8,061 5,955 14,016
Charge for the financial year 390 496 886
At 30 April 2024 8,451 6,451 14,902
Net book value
At 30 April 2024 3,506 1,985 5,491
At 30 April 2023 3,896 2,481 6,377

5. Debtors

2024 2023
£ £
Prepayments 0 922
VAT recoverable 25 1,045
Other debtors 4 4
29 1,971

6. Creditors: amounts falling due within one year

2024 2023
£ £
Accruals 2,251 2,724
Other taxation and social security 0 1,263
Other creditors 0 271
2,251 4,258

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100
1 Ordinary A share of £ 1.00 1 1
1 Ordinary B share of £ 1.00 1 1
1 Ordinary C share of £ 1.00 1 1
1 Ordinary D share of £ 1.00 1 1
104 104
300,000 Preference shares of £ 1.00 each 300,000 300,000
300,104 300,104