Registered number
10256205
Home Repair Network Limited
Filleted Accounts
31 December 2023
Home Repair Network Limited
Registered number: 10256205
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 31,653 44,438
Current assets
Debtors 4 904,197 598,319
Cash at bank and in hand 155,381 278,771
1,059,578 877,090
Creditors: amounts falling due within one year 5 (946,432) (790,522)
Net current assets 113,146 86,568
Total assets less current liabilities 144,799 131,006
Creditors: amounts falling due after more than one year 6 (210,284) (220,425)
Net liabilities (65,485) (89,419)
Capital and reserves
Called up share capital 98,913 98,913
Share premium 17,711 17,711
Profit and loss account (182,109) (206,043)
Shareholders' funds (65,485) (89,419)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ian Hogarth
Director
Approved by the board on 24 September 2024
Home Repair Network Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computers over 4 years
Other electronic equipment over 5 years
Fixtures, fittings over 10 years
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 48 47
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 87,058
Additions 3,310
Disposals (1,324)
At 31 December 2023 89,044
Depreciation
At 1 January 2023 42,620
Charge for the year 15,476
On disposals (705)
At 31 December 2023 57,391
Net book value
At 31 December 2023 31,653
At 31 December 2022 44,438
4 Debtors 2023 2022
£ £
Trade debtors 577,589 437,168
Deferred tax asset 42,355 48,278
Accrued income 207,180 74,640
Prepayments 19,640 6,879
Other debtors 57,433 31,354
904,197 598,319
Debtors include £48,853 (2022 £13,853) due in more than one year.

The company has provided a loan of £40,000 to Sean Murphy in 2023. Interest at 2.5% has been charged in the year and £38,860 was owing at 31 December 2023.
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,140 9,890
Trade creditors 712,405 540,342
Taxation and social security costs 167,258 206,382
Other creditors 56,629 33,908
946,432 790,522
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 14,806 24,947
Other creditors 195,478 195,478
210,284 220,425
7 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 40,014 40,014
8 Related party transactions
Tari Ventures which owns 51.6% (2021 56.0%) of the share capital has provided a loan to the company. The amount due includes interest at 31 December 2023 was £222,735 (2022 £205,380). This loan is secured by a floating charge.

The company has purchased services (at arm's length) from Web 4 Minds Limited a company under the control of T Tari and T T Tari. The amount owed by the company at 31 December 2023 including interest was £268,727 (2022 £174,742).
9 Other information
Home Repair Network Limited is a private company limited by shares and incorporated in England. Its registered office is:
The New Barn
Cleveland Farm
Claypole
England
NG23 5BA
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