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Registered number: 13501948
Hudson Homes Estate Agents Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13501948
31 July 2023 31 July 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,131 491
2,131 491
CURRENT ASSETS
Debtors 5 73,713 20,769
Cash at bank and in hand 36,423 10,793
110,136 31,562
Creditors: Amounts Falling Due Within One Year 6 (122,182 ) (56,651 )
NET CURRENT ASSETS (LIABILITIES) (12,046 ) (25,089 )
TOTAL ASSETS LESS CURRENT LIABILITIES (9,915 ) (24,598 )
Creditors: Amounts Falling Due After More Than One Year 7 (229 ) -
PROVISIONS FOR LIABILITIES
Deferred Taxation (405 ) -
NET LIABILITIES (10,549 ) (24,598 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (10,649 ) (24,698 )
SHAREHOLDERS' FUNDS (10,549) (24,598)
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For the year ending 31 July 2023 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr L S Cooper
Director
15 November 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Hudson Homes Estate Agents Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13501948 . The registered office is 42 Tyndall Court, Commerce Road, Lynch Wood, Peterborough, PE2 6LR.
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. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & machinery 25% written down value
Fixtures & fittings 25% written down value
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.5. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
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2.6. Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
2.7. Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method
2.8. Interest income
Interest income is recognised in the profit and loss using the effective interest method. 
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2022: 2)
3 2
4. Tangible Assets
Plant & machinery Fixtures & fittings Total
£ £ £
Cost
As at 1 August 2022 399 244 643
Additions - 1,804 1,804
As at 31 July 2023 399 2,048 2,447
Depreciation
As at 1 August 2022 91 61 152
Provided during the period 77 87 164
As at 31 July 2023 168 148 316
Net Book Value
As at 31 July 2023 231 1,900 2,131
As at 1 August 2022 308 183 491
5. Debtors
31 July 2023 31 July 2022
£ £
Due within one year
Trade debtors 7,267 -
Other debtors 66,446 20,769
73,713 20,769
6. Creditors: Amounts Falling Due Within One Year
31 July 2023 31 July 2022
£ £
Trade creditors 5,339 276
Other creditors 88,027 55,260
Taxation and social security 28,816 1,115
122,182 56,651
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7. Creditors: Amounts Falling Due After More Than One Year
31 July 2023 31 July 2022
£ £
Other creditors 229 -
8. Share Capital
31 July 2023 31 July 2022
£ £
Allotted, Called up and fully paid 100 100
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
31 July 2023 31 July 2022
£ £
Not later than one year 12,000 12,000
Later than one year and not later than five years 26,000 36,000
Later than five years - 2,000
38,000 50,000
10. Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held seperately from those of the company in an independently adminstered fund. At the balance sheet date unpaid contributions of £228 (2022: £238) were due to the fund. The balance is included in other creditors.
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 August 2022 Amounts advanced Amounts repaid Amounts written off As at 31 July 2023
£ £ £ £ £
Mr Lewis Cooper (20,213 ) 55,918 8,823 - 26,882
The above loan is unsecured, interest free and repayable on demand.
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