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REGISTERED NUMBER: 01120604 (England and Wales)















HOME IMPROVEMENTS (POWYS) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






HOME IMPROVEMENTS (POWYS) LIMITED (REGISTERED NUMBER: 01120604)






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 IMPROVEMENTS (POWYS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: R Morgan
D P Morgan





SECRETARY: D P Morgan





REGISTERED OFFICE: West Lodge
Rainbow Street
Leominster
Herefordshire
HR6 8DQ





REGISTERED NUMBER: 01120604 (England and Wales)





ACCOUNTANTS: Davies Edwards & Co
Chartered Certified Accountants
West Lodge
Rainbow Street
Leominster
Herefordshire
HR6 8DQ

HOME IMPROVEMENTS (POWYS) LIMITED (REGISTERED NUMBER: 01120604)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 536 250
Investment property 5 747,655 747,655
748,191 747,905

CURRENT ASSETS
Debtors 6 2,692 4,140
Cash at bank 202,088 242,838
204,780 246,978
CREDITORS
Amounts falling due within one year 7 342,136 323,424
NET CURRENT LIABILITIES (137,356 ) (76,446 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

610,835

671,459

PROVISIONS FOR LIABILITIES 55,097 41,360
NET ASSETS 555,738 630,099

CAPITAL AND RESERVES
Called up share capital 8 100 100
Non-distributable reserve 9 463,673 475,982
Retained earnings 9 91,965 154,017
SHAREHOLDERS' FUNDS 555,738 630,099

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.

HOME IMPROVEMENTS (POWYS) LIMITED (REGISTERED NUMBER: 01120604)

BALANCE SHEET - continued
31 MARCH 2024


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 7 November 2024 and were signed on its behalf by:





D P Morgan - Director


HOME IMPROVEMENTS (POWYS) LIMITED (REGISTERED NUMBER: 01120604)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Home Improvements (Powys) 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.

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 as modified by the revaluation of certain assets.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

HOME IMPROVEMENTS (POWYS) LIMITED (REGISTERED NUMBER: 01120604)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 10,477 1,874 12,351
Additions - 485 485
At 31 March 2024 10,477 2,359 12,836
DEPRECIATION
At 1 April 2023 10,227 1,874 12,101
Charge for year 37 162 199
At 31 March 2024 10,264 2,036 12,300
NET BOOK VALUE
At 31 March 2024 213 323 536
At 31 March 2023 250 - 250

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 747,655
NET BOOK VALUE
At 31 March 2024 747,655
At 31 March 2023 747,655

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2005 236,803
Valuation in 2006 221,364
Valuation in 2015 (14,531 )
Valuation in 2020 75,000
Cost 229,019
747,655

If the investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 229,019 229,019

The investment properties were valued on an open market basis on 1 May 2020 by Morris Marshall & Poole .

HOME IMPROVEMENTS (POWYS) LIMITED (REGISTERED NUMBER: 01120604)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,553 2,436
Prepayments and accrued income 1,139 1,704
2,692 4,140

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Shareholder loan 179,084 149,644
Trade creditors 1,719 603
Tax 7,293 6,598
VAT 218 423
Directors' current accounts 150,566 163,224
Accruals and deferred income 3,256 2,932
342,136 323,424

8. CALLED UP SHARE CAPITAL

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

9. RESERVES
Retained Non-distributable
earnings reserve Totals
£    £    £   

At 1 April 2023 154,017 475,982 629,999
Profit for the year 17,639 17,639
Dividends (92,000 ) (92,000 )
Reserve transfer 12,309 (12,309 ) -
At 31 March 2024 91,965 463,673 555,638

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £62,560 were paid to the directors .