REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 March 2024 |
for |
A House 2 Home Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 March 2024 |
for |
A House 2 Home Limited |
A House 2 Home Limited (Registered number: SC469475) |
Contents of the Financial Statements |
for the Year Ended 30 March 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
A House 2 Home Limited |
Company Information |
for the Year Ended 30 March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Westburn Business Centre |
McNee Road |
Prestwick |
KA9 2PB |
A House 2 Home Limited (Registered number: SC469475) |
Statement of Financial Position |
30 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Non-distributable reserve | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
A House 2 Home Limited (Registered number: SC469475) |
Statement of Financial Position - continued |
30 March 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
A House 2 Home Limited (Registered number: SC469475) |
Notes to the Financial Statements |
for the Year Ended 30 March 2024 |
1. | STATUTORY INFORMATION |
A House 2 Home Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets. |
Going concern |
The financial statements have been prepared on a going concern basis based upon the continued funding from an associated business in which the Directors' hold the entire issued share capital and the continued support of the Directors' themselves. |
On this basis, the accounts have been prepared on a going concern basis. |
Turnover/revenue recognition |
Sales comprise the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of the company's activities. Turnover in the year represents rental income from the letting of investment in and management of letting properties. |
The company recognises revenue when the amount of revenue and related cost can be reliably measured, it is probable that the collectability of the related receivables is reasonably assured and when the specific criteria for each of the company's activities are met. |
Tangible fixed assets |
Camper Van | - |
Tangible fixed assets are stated at cost less depreciation. |
Impairment of fixed assets |
At each reporting date, the company reviews the carrying amounts of its tangible and intangible fixed assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the amount of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
Investment property |
Under FRS 102, investment properties should be measured at their fair value at each reporting date, with changes in fair value recognised through the Profit & Loss Account. |
The standard also requires the company to provide for deferred tax on the timing difference arising on the date of transition, which represents the full revaluation gain less indexed cost. |
A House 2 Home Limited (Registered number: SC469475) |
Notes to the Financial Statements - continued |
for the Year Ended 30 March 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality. |
The company has two main categories of financial instruments, which are loans and other receivables and other financial liabilities: |
Loans and other receivables |
Loans and other receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Upon recognition, these assets are measured at fair value less directly related transaction expenses. In successive periods these are measured at amortised cost, and any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value less any allowance for credit losses. |
Other financial liabilities |
Other financial liabilities are recognised initially at fair value, net of transaction costs incurred. In successive periods these are measured at amortised cost. Any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value. |
Impairment of financial instruments |
A provision for impairment is established when there is objective evidence that, as a result of one or more events that occurred after the initial recognition, the estimated future cash flows have been impacted. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash held by the company and short term bank deposits with an original maturity of three months or less from inception and are subject to insignificant risk of changes in value. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
A House 2 Home Limited (Registered number: SC469475) |
Notes to the Financial Statements - continued |
for the Year Ended 30 March 2024 |
4. | TANGIBLE FIXED ASSETS |
Camper |
Van |
£ |
COST |
At 31 March 2023 |
and 30 March 2024 |
DEPRECIATION |
At 31 March 2023 |
and 30 March 2024 |
NET BOOK VALUE |
At 30 March 2024 |
At 30 March 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 31 March 2023 |
and 30 March 2024 |
NET BOOK VALUE |
At 30 March 2024 |
At 30 March 2023 |
Fair value at 30 March 2024 is represented by: |
£ |
Valuation in 2017 | 31,377 |
Cost | 220,865 |
252,242 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed to related party | 80,523 | 79,035 |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
A House 2 Home Limited (Registered number: SC469475) |
Notes to the Financial Statements - continued |
for the Year Ended 30 March 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
2024 | 2023 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loan more 5 yr by instal | 112,500 | 112,500 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
The bank loan is secured by way of a standard security over one of the company's investment properties. |
9. | RESERVES |
Non-distributable |
reserve |
£ |
At 31 March 2023 |
and 30 March 2024 |
10. | RELATED PARTY DISCLOSURES |
Varius Ltd, is a company in which the directors own 100% of the issued share capital and is therefore a related party. As at 30 March 2024, a balance of £80,523 (2023: £79,035) was owed to Varius Ltd by A House 2 Home Ltd. This loan is unsecured, interest free and has no fixed repayment terms. |
Directors' loan account |
The company operates a loan account with the directors. At the year end, the balance due to the directors was £25,925 (2023: £32,605). This loan is unsecured, interest free and has no fixed repayment terms. |
11. | ULTIMATE CONTROLLING PARTY |
The company is under the joint control of Mr D Cooper and Ms L Gordon by virtue of their 100% shareholding in the company. |