Housing Hand Limited
Unaudited Financial Statements
For the year ended 30 June 2024
Pages for Filing with Registrar
Company Registration No. 08408808 (England and Wales)
Housing Hand Limited
Contents
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 9
Housing Hand Limited
Balance Sheet
As at 30 June 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
3,037
1,001
Investments
5
1
1
3,038
1,002
Current assets
Debtors
7
4,983,738
2,229,652
Cash at bank and in hand
73,711
14,870
5,057,449
2,244,522
Creditors: amounts falling due within one year
8
(4,733,045)
(2,168,313)
Net current assets
324,404
76,209
Total assets less current liabilities
327,442
77,211
Creditors: amounts falling due after more than one year
9
(573,841)
(578,589)
Net liabilities
(246,399)
(501,378)
Capital and reserves
Called up share capital
11
195
195
Share premium account
211,323
211,323
Profit and loss reserves
(457,917)
(712,896)
Total equity
(246,399)
(501,378)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Housing Hand Limited
Balance Sheet (Continued)
As at 30 June 2024
Page 2
The financial statements were approved by the board of directors and authorised for issue on 4 October 2024 and are signed on its behalf by:
G  Hayward
Director
Company Registration No. 08408808
Housing Hand Limited
Statement of Changes in Equity
For the year ended 30 June 2024
Page 3
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 July 2022
191
211,287
(523,278)
(311,800)
Year ended 30 June 2023:
Loss and total comprehensive income for the year
-
-
(189,618)
(189,618)
Issue of share capital
11
4
36
-
40
Balance at 30 June 2023
195
211,323
(712,896)
(501,378)
Year ended 30 June 2024:
Profit and total comprehensive income for the year
-
-
254,979
254,979
Balance at 30 June 2024
195
211,323
(457,917)
(246,399)
Housing Hand Limited
Notes to the Financial Statements
For the year ended 30 June 2024
Page 4
1
Accounting policies
Company information

Housing Hand Limited is a private company limited by shares incorporated in England and Wales. The registered office is Centro House, 20-23 Mandela Street, Selous House G.01, London, United Kingdom, NW1 0DU.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company trueachieved a net profit in the year of £254,979 (2023- Loss of £189,618) and at the balance sheet date had net liabilities of £246,399 (2023- £501,378).

 

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents the invoiced value of goods and services provided.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
33% straight line
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Housing Hand Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2024
1
Accounting policies
(Continued)
Page 5

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Housing Hand Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2024
1
Accounting policies
(Continued)
Page 6
Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Housing Hand Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2024
Page 7
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
23
18
3
Intangible fixed assets
Other
£
Cost
At 1 July 2023 and 30 June 2024
544,896
Amortisation and impairment
At 1 July 2023 and 30 June 2024
544,896
Carrying amount
At 30 June 2024
-
0
At 30 June 2023
-
0
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023
33,816
Additions
3,925
At 30 June 2024
37,741
Depreciation and impairment
At 1 July 2023
32,815
Depreciation charged in the year
1,889
At 30 June 2024
34,704
Carrying amount
At 30 June 2024
3,037
At 30 June 2023
1,001
Housing Hand Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2024
Page 8
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
1
1
6
Subsidiaries

Details of the company's subsidiaries at 30 June 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Only My Share Limited
UK
Ordinary
100.00
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
4,959,141
2,160,413
Amounts owed by group undertakings
2,263
-
0
Other debtors
22,334
69,239
4,983,738
2,229,652
8
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
67,689
94,097
Trade creditors
124,471
134,190
Amounts owed to group undertakings
-
0
20,646
Taxation and social security
23,884
163,228
Other creditors
2,356,050
1,285,947
Accruals and deferred income
2,160,951
470,205
4,733,045
2,168,313

The bank loan is secured via a negative charge as well as a fixed and floating charge against all of the property or undertaking of the company.

Housing Hand Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2024
Page 9
9
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
185,262
252,950
Other creditors
388,579
325,639
573,841
578,589

The bank loan is secured via a negative charge as well as a fixed and floating charge against all of the property or undertaking of the company.

10
Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions totaling £2,906 (2023 - £4,920) were payable to the fund at the balance sheet date and are included in creditors.

11
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
19,100
19,100
191
191
Growth shares of 1p each
400
400
4
4
19,500
19,500
195
195

 

12
Operating lease commitments
Lessee

At 30 June 2024 the company had future minimum lease payments due under non-cancellable operating lease for each of the following periods:

2024
2023
£
£
-
0
63,987
13
Related party transactions

At the end of the year, included in creditors is £2,263 (2023: £20,646 due to) due from Only My Share Limited. Only My Share Limited is subsidiary of Housing Hand Limited.

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