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Company Registration No. 06356199 (England and Wales)
In House Estateagents Ltd Unaudited accounts for the year ended 31 March 2024
In House Estateagents Ltd Unaudited accounts Contents
Page
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In House Estateagents Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
11,415 
16,076 
Current assets
Debtors
23,377 
22,325 
Cash at bank and in hand
333,929 
435,990 
357,306 
458,315 
Creditors: amounts falling due within one year
(58,015)
(65,565)
Net current assets
299,291 
392,750 
Total assets less current liabilities
310,706 
408,826 
Provisions for liabilities
Deferred tax
(2,854)
(4,019)
Net assets
307,852 
404,807 
Capital and reserves
Called up share capital
95 
95 
Profit and loss account
307,757 
404,712 
Shareholders' funds
307,852 
404,807 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 22 November 2024 and were signed on its behalf by
S Puddifoot Director Company Registration No. 06356199
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In House Estateagents Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
In House Estateagents Ltd is a private company, limited by shares, registered in England and Wales, registration number 06356199. The registered office is 28 St. Martins Street, Wallingford, OX10 0AL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
25% straight line
Plant & machinery
15% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
15% reducing balance
Computer equipment
33% straight line
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
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In House Estateagents Ltd Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 April 2023
2,222 
2,254 
6,973 
28,788 
29,077 
69,314 
At 31 March 2024
2,222 
2,254 
6,973 
28,788 
29,077 
69,314 
Depreciation
At 1 April 2023
1,112 
1,467 
6,180 
21,169 
23,310 
53,238 
Charge for the year
556 
118 
198 
1,143 
2,646 
4,661 
At 31 March 2024
1,668 
1,585 
6,378 
22,312 
25,956 
57,899 
Net book value
At 31 March 2024
554 
669 
595 
6,476 
3,121 
11,415 
At 31 March 2023
1,110 
787 
793 
7,619 
5,767 
16,076 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
14,207 
13,470 
Accrued income and prepayments
9,170 
8,855 
23,377 
22,325 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
18,458 
12,117 
Trade creditors
5,263 
3,989 
Taxes and social security
6,283 
15,636 
Other creditors
22,799 
31,116 
Loans from directors
3,077 
2,707 
Accruals
2,135 
- 
58,015 
65,565 
7
Operating lease commitments
2024 
2023 
£ 
£ 
At 31 March 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
22,500 
22,500 
Later than one year and not later than five years
42,188 
64,688 
64,688 
87,188 
8
Average number of employees
During the year the average number of employees was 9 (2023: 9).
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