Registered number
09432870
Homeleigh Accommodation Ltd
Filleted Accounts
30 April 2024
Homeleigh Accommodation Ltd
Registered number: 09432870
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,100,565 953,341
Current assets
Debtors 4 320,983 428,104
Cash at bank and in hand 259,678 107,195
580,661 535,299
Creditors: amounts falling due within one year 5 (184,641) (158,777)
Net current assets 396,020 376,522
Total assets less current liabilities 1,496,585 1,329,863
Creditors: amounts falling due after more than one year 6 (11,360) (21,586)
Provisions for liabilities (42,428) (42,240)
Net assets 1,442,797 1,266,037
Capital and reserves
Called up share capital 17 17
Revaluation reserve 7 208,499 208,499
Profit and loss account 1,234,281 1,057,521
Shareholders' funds 1,442,797 1,266,037
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.
Petar William Rapo
Director
Approved by the board on 25 November 2024
Homeleigh Accommodation Ltd
Notes to the Accounts
for the year ended 30 April 2024
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:
Equipment 10% reducing balance
Motor vehicles 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
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.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 915,000 32,081 43,935 991,016
Additions 151,000 4,086 - 155,086
Disposals - - (11,095) (11,095)
At 30 April 2024 1,066,000 36,167 32,840 1,135,007
Depreciation
At 1 May 2023 - 8,133 29,542 37,675
Charge for the year - 2,824 3,118 5,942
On disposals - - (9,175) (9,175)
At 30 April 2024 - 10,957 23,485 34,442
Net book value
At 30 April 2024 1,066,000 25,210 9,355 1,100,565
At 30 April 2023 915,000 23,948 14,393 953,341
4 Debtors 2024 2023
£ £
Other debtors 320,983 428,104
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,225 9,971
Trade creditors 3,205 1,225
Taxation and social security costs 30,836 22,279
Other creditors 140,375 125,302
184,641 158,777
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 11,360 21,586
7 Revaluation reserve 2024 2023
£ £
At 1 May 2023 208,499 180,675
Gain on revaluation of land and buildings - 27,824
At 30 April 2024 208,499 208,499
8 Related party transactions
At the period end the company was owed £97,964 (2023: £238,178) by Mr Petar William Rapo, director and was owed £12,809 (2023: £11,715) by Mrs Kelly Denise Taylor. Both loans are subject to 2% interest and repayable on demand.
9 Controlling party
The company is ultimately controlled by Mr Petar William Rapo, director, who own 94% of the voting share capital.
10 Other information
Homeleigh Accommodation Ltd is a private company limited by shares and incorporated in England. Its registered office is:
2 Vyvyan Street
Camborne
Cornwall
TR14 8BQ
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