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Registered number: 12444182
Home2home(UK) Ltd
Director's Report and
Financial Statements
For The Year Ended 28 February 2024
Contents
Page
Company Information 1
Director's Report 2
Profit and Loss Account 3
Balance Sheet 4
Notes to the Financial Statements 5—6
Page 1
Company Information
Director Mr Hamzah KHAN
Company Number 12444182
Registered Office 3.1 Building A4 10 Monro Way
Design District
London
SE10 0EJ
Accountants EASY TAX ACCOUNTANTS LTD
BSc(Hons),FCCA,AFA,MIPA,AIA
257 Aldborough Road South
Ilford
IG3 8JA
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Director's Report
The director presents his report and the financial statements for the year ended 28 February 2024.
Directors
The director who held office during the year were as follows:
Mr Hamzah KHAN
Statement of Director's Responsibilities
The director is responsible for preparing the Director's Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the director is required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr Hamzah KHAN
Director
21/08/2024
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Page 3
Profit and Loss Account
2024 2023
Notes £ £
TURNOVER 3,436,332 2,174,999
Cost of sales (3,291,445 ) (2,023,451 )
GROSS PROFIT 144,887 151,548
Administrative expenses (124,491 ) (132,735 )
OPERATING PROFIT AND PROFIT FOR THE FINANCIAL YEAR 20,396 18,813
The notes on pages 5 to 6 form part of these financial statements.
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Page 4
Balance Sheet
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 38,000 38,000
38,000 38,000
CURRENT ASSETS
Debtors 5 1,120,036 286,330
Cash at bank and in hand 55,491 112,489
1,175,527 398,819
Creditors: Amounts Falling Due Within One Year 6 (803,163 ) (123,697 )
NET CURRENT ASSETS (LIABILITIES) 372,364 275,122
TOTAL ASSETS LESS CURRENT LIABILITIES 410,364 313,122
Creditors: Amounts Falling Due After More Than One Year 7 (386,417 ) (287,071 )
NET ASSETS 23,947 26,051
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 23,945 26,049
SHAREHOLDERS' FUNDS 23,947 26,051
For the year ending 28 February 2024 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 in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
Mr Hamzah KHAN
Director
21/08/2024
The notes on pages 5 to 6 form part of these financial statements.
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Page 5
Notes to the Financial Statements
1. General Information
Home2home(UK) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12444182 . The registered office is 3.1 Building A4 10 Monro Way, Design District, London, SE10 0EJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 March 2023 38,000
As at 28 February 2024 38,000
Net Book Value
As at 28 February 2024 38,000
As at 1 March 2023 38,000
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,115,644 -
Due after more than one year
Trade debtors - 265,468
Directors loan account 4,392 20,862
4,392 286,330
1,120,036 286,330
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 803,163 123,697
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 47,448 44,971
Other creditors 338,969 242,100
386,417 287,071
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
9. Dividends
2024 2023
£ £
On equity shares:
Interim dividend paid 22,500 -
Final dividend paid - 18,000
22,500 18,000
Dividends paid during the year £22500
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