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REGISTERED NUMBER: 10007651 (England and Wales)






Home Utility Group Limited

Financial Statements

for the Year Ended 31 March 2024






Home Utility Group Limited (Registered number: 10007651)

Contents of the Financial Statements
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Home Utility Group Limited

Company Information
for the year ended 31 March 2024







DIRECTORS: Mr K M Carney
Mr N A Davis
Mr A P Turner
Mrs A M Lockwood





REGISTERED OFFICE: Unit 7a
Asquith Avenue Business Park
Morley
Leeds
West Yorkshire
LS27 7RZ





REGISTERED NUMBER: 10007651 (England and Wales)





ACCOUNTANTS: SMH Jolliffe Cork Ltd
Chartered Accountants
33 George Street
Wakefield
West Yorkshire
WF1 1LX

Home Utility Group Limited (Registered number: 10007651)

Balance Sheet
31 March 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 32,756 44,402
Tangible assets 5 200,927 119,524
233,683 163,926

CURRENT ASSETS
Debtors 6 832,151 964,710
Cash at bank 433,570 361,716
1,265,721 1,326,426
CREDITORS
Amounts falling due within one year 7 817,339 891,186
NET CURRENT ASSETS 448,382 435,240
TOTAL ASSETS LESS CURRENT
LIABILITIES

682,065

599,166

CREDITORS
Amounts falling due after more than one
year

8

(133,800

)

(110,400

)

PROVISIONS FOR LIABILITIES (50,231 ) (40,609 )
NET ASSETS 498,034 448,157

Home Utility Group Limited (Registered number: 10007651)

Balance Sheet - continued
31 March 2024

2024 2023
Notes £ £ £ £

CAPITAL AND RESERVES
Called up share capital 11 100 100
Share premium 29,980 29,980
Retained earnings 467,954 418,077
SHAREHOLDERS' FUNDS 498,034 448,157

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2024 and were signed on its behalf by:





Mr K M Carney - Director


Home Utility Group Limited (Registered number: 10007651)

Notes to the Financial Statements
for the year ended 31 March 2024


1. STATUTORY INFORMATION

Home Utility Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The functional and presentation currency for the company is the pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised with reference to the stage of completion of the installation, service or repair.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Trademarks are being amortised evenly over their estimated useful life of ten years.

Website is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Fixed assets are initially recorded at cost.

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 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.


Home Utility Group Limited (Registered number: 10007651)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals applicable to operating leases where substantially all the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2023 - 32 ) .

Home Utility Group Limited (Registered number: 10007651)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


4. INTANGIBLE FIXED ASSETS
Trademarks Website Totals
£ £ £
COST
At 1 April 2023
and 31 March 2024 3,100 74,866 77,966
AMORTISATION
At 1 April 2023 1,610 31,954 33,564
Amortisation for year 250 11,396 11,646
At 31 March 2024 1,860 43,350 45,210
NET BOOK VALUE
At 31 March 2024 1,240 31,516 32,756
At 31 March 2023 1,490 42,912 44,402

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£ £ £ £ £
COST
At 1 April 2023 23,225 2,886 152,075 10,653 188,839
Additions 230 324 150,650 141 151,345
Disposals (1,620 ) - (3,760 ) - (5,380 )
At 31 March 2024 21,835 3,210 298,965 10,794 334,804
DEPRECIATION
At 1 April 2023 12,909 1,401 46,568 8,437 69,315
Charge for year 3,115 454 63,760 1,095 68,424
Eliminated on disposal (1,215 ) - (2,647 ) - (3,862 )
At 31 March 2024 14,809 1,855 107,681 9,532 133,877
NET BOOK VALUE
At 31 March 2024 7,026 1,355 191,284 1,262 200,927
At 31 March 2023 10,316 1,485 105,507 2,216 119,524

Home Utility Group Limited (Registered number: 10007651)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£
COST
At 1 April 2023 131,250
Additions 125,050
At 31 March 2024 256,300
DEPRECIATION
At 1 April 2023 32,813
Charge for year 55,871
At 31 March 2024 88,684
NET BOOK VALUE
At 31 March 2024 167,616
At 31 March 2023 98,437

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 558,041 703,287
Amounts owed by related undertakings 157,634 199,134
Other debtors 600 1,400
Directors' current accounts 112,460 56,168
Prepayments and accrued income 3,416 4,721
832,151 964,710

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 10,206 9,954
Hire purchase contracts (see note 9) 62,277 32,283
Trade creditors 443,435 562,157
Tax 26,449 27,405
Social security and other taxes 31,398 38,627
VAT 97,501 99,892
Other creditors 128,148 103,368
Directors' current accounts 13,500 13,500
Accruals and deferred income 4,425 4,000
817,339 891,186

Home Utility Group Limited (Registered number: 10007651)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 12,188 22,371
Hire purchase contracts (see note 9) 121,612 88,029
133,800 110,400

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£ £
Net obligations repayable:
Within one year 62,277 32,283
Between one and five years 121,612 88,029
183,889 120,312

Non-cancellable
operating leases
2024 2023
£ £
Within one year 10,240 20,822
Between one and five years - 2,380
10,240 23,202

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Hire purchase contracts 183,889 120,312

Obligations under hire purchase agreements are secured against the asset to which they relate.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 100

Home Utility Group Limited (Registered number: 10007651)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£ £
Mr K M Carney
Balance outstanding at start of year 27,792 39,545
Amounts advanced 79,207 75,247
Amounts repaid (51,073 ) (87,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 55,926 27,792

Mr N A Davis
Balance outstanding at start of year 28,376 38,896
Amounts advanced 79,194 76,480
Amounts repaid (51,036 ) (87,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 56,534 28,376

13. RELATED PARTY DISCLOSURES

During the year, total dividends of £100,000 were paid to the directors .