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
In House Estateagents Ltd
Statement of financial position
as at 31 March 2024
Tangible assets
11,415
16,076
Cash at bank and in hand
333,929
435,990
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
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
In House Estateagents Ltd
Notes to the Accounts
for the year ended 31 March 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 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.
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.
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.
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
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
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
Amounts falling due within one year
Trade debtors
14,207
13,470
Accrued income and prepayments
9,170
8,855
6
Creditors: amounts falling due within one year
2024
2023
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
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
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Average number of employees
During the year the average number of employees was 9 (2023: 9).