Registered number
05620063
HOMEGAIN LIMITED
Unaudited Filleted Accounts
22 November 2023
TEMPLETONS (HOLDINGS) LIMITED
CHARTERED ACCOUNTANTS
309 HOE STREET
WALTHAMSTOW
LONDON E17 9BG
HOMEGAIN LIMITED
Registered number: 05620063
Balance Sheet
as at 22 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 11,281 14,627
Current assets
Debtors 4 19,485 26,551
Cash at bank and in hand 197,152 202,325
216,637 228,876
Creditors: amounts falling due within one year 5 (222,809) (213,357)
Net current (liabilities)/assets (6,172) 15,519
Total assets less current liabilities 5,109 30,146
Creditors: amounts falling due after more than one year 6 (15,088) (20,888)
Net (liabilities)/assets (9,979) 9,258
Capital and reserves
Called up share capital 60 60
Profit and loss account (10,039) 9,198
Shareholder's funds (9,979) 9,258
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Mr M K Saeed
Director
Approved by the board on 30 November 2024
HOMEGAIN LIMITED
Notes to the Accounts
for the period from 1 December 2022 to 22 November 2023
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, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
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:
Premises cost 10% reducing balance method
Fixtures, fittings, tools and equipment 25% reducing balance method
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 5
3 Tangible fixed assets
Premises cost Equipments, Fixtures and Fittings Total
£ £ £
Cost
At 1 December 2022 5,796 45,348 51,144
At 22 November 2023 5,796 45,348 51,144
Depreciation
At 1 December 2022 3,730 32,787 36,517
Charge for the period 206 3,140 3,346
At 22 November 2023 3,936 35,927 39,863
Net book value
At 22 November 2023 1,860 9,421 11,281
At 30 November 2022 2,066 12,561 14,627
4 Debtors 2023 2022
£ £
Trade debtors 19,485 26,551
5 Creditors: amounts falling due within one year
Trade creditors 6,710 5,823
Corporation tax 538 538
Other taxes and social security costs 3,883 2,095
Other creditors 211,678 204,901
222,809 213,357
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 15,088 20,888
7 Controlling party
The company was under the control of Mr M K Saeed , a director and shareholder of the company throughout the year.
8 Other information
HOMEGAIN LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
309
Hoe Street
Walthamstow
London
E17 9BG
HOMEGAIN LIMITED 05620063 false 2022-12-01 2023-11-22 2023-11-22 VT Final Accounts July 2024 Mr M K Saeed No description of principal activity 05620063 2021-12-01 2022-11-30 05620063 core:WithinOneYear 2022-11-30 05620063 core:AfterOneYear 2022-11-30 05620063 core:ShareCapital 2022-11-30 05620063 core:RetainedEarningsAccumulatedLosses 2022-11-30 05620063 2022-12-01 2023-11-22 05620063 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-22 05620063 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-22 05620063 bus:Director40 2022-12-01 2023-11-22 05620063 1 2022-12-01 2023-11-22 05620063 2 2022-12-01 2023-11-22 05620063 core:LandBuildings 2022-12-01 2023-11-22 05620063 core:PlantMachinery 2022-12-01 2023-11-22 05620063 countries:England 2022-12-01 2023-11-22 05620063 bus:FRS102 2022-12-01 2023-11-22 05620063 bus:FilletedAccounts 2022-12-01 2023-11-22 05620063 2023-11-22 05620063 core:WithinOneYear 2023-11-22 05620063 core:AfterOneYear 2023-11-22 05620063 core:ShareCapital 2023-11-22 05620063 core:RetainedEarningsAccumulatedLosses 2023-11-22 05620063 core:LandBuildings 2023-11-22 05620063 core:PlantMachinery 2023-11-22 05620063 2022-11-30 05620063 core:LandBuildings 2022-11-30 05620063 core:PlantMachinery 2022-11-30 iso4217:GBP xbrli:pure