Acorah Software Products - Accounts Production 15.0.600 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 13217607 Richard Paul Dupoy Robert Brian Mcmillan iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13217607 2023-02-28 13217607 2024-02-29 13217607 2023-03-01 2024-02-29 13217607 frs-core:CurrentFinancialInstruments 2024-02-29 13217607 frs-core:ShareCapital 2024-02-29 13217607 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 13217607 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13217607 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 13217607 frs-bus:SmallEntities 2023-03-01 2024-02-29 13217607 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 13217607 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 13217607 frs-bus:Director1 2023-03-01 2024-02-29 13217607 frs-bus:Director1 2023-02-28 13217607 frs-bus:Director1 2024-02-29 13217607 frs-bus:Director2 2023-03-01 2024-02-29 13217607 frs-bus:Director2 2023-02-28 13217607 frs-bus:Director2 2024-02-29 13217607 frs-countries:EnglandWales 2023-03-01 2024-02-29 13217607 2022-02-28 13217607 2023-02-28 13217607 2022-03-01 2023-02-28 13217607 frs-core:CurrentFinancialInstruments 2023-02-28 13217607 frs-core:ShareCapital 2023-02-28 13217607 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 13217607
Homezones Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13217607
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 72,571 15,768
Cash at bank and in hand 10,682 22,509
83,253 38,277
Creditors: Amounts Falling Due Within One Year 5 (83,146 ) (38,090 )
NET CURRENT ASSETS (LIABILITIES) 107 187
TOTAL ASSETS LESS CURRENT LIABILITIES 107 187
NET ASSETS 107 187
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account 7 87
SHAREHOLDERS' FUNDS 107 187
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For the year ending 29 February 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 directors acknowledge their 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
Robert Brian Mcmillan
Director
11 June 2024
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Homezones Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13217607 . The registered office is 809 Salisbury House, 29 Finsbury Circus, London, EC2M 7AQ.
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
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue 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. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Debtors
2024 2023
£ £
Due within one year
Trade debtors 34,950 9,450
Corporation tax recoverable (Debtors < 1 year) 9,493 -
Directors' loan accounts 28,128 6,318
72,571 15,768
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 50,207 23,111
VAT 12,939 14,414
Other creditors - 65
Amounts owed to related parties 20,000 500
83,146 38,090
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
7. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 March 2023 Amounts advanced Amounts repaid Amounts written off As at 29 February 2024
£ £ £ £ £
Mr Richard Dupoy 1,734 9,418 1,734 - 9,418
Mr Robert Mcmillan 4,584 18,710 4,584 - 18,710
The above loan is unsecured, repayable on demand and interest has been charged at the rate of 2.25% per annum on the loan during the year.
8. Related Party Transactions
Included in the creditors due within one year is an amount of £20,000 (2023: £500) owed to the company in which the directors have beneficial interest. The amount is interest free and repayable on demand.
Included in debtors due within one year is an amount of £28,128 (2023: £6,318) owed by its directors. The amount is unsecured, repayable on demand and an interest of 2.25% has been charged on this loan during the year.
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