1 July 2023 v2024.67.2 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP107091922023-07-012024-06-30107091922024-06-30107091922023-06-3010709192core:WithinOneYear2024-06-3010709192core:WithinOneYear2023-06-3010709192core:AfterOneYear2024-06-3010709192core:AfterOneYear2023-06-3010709192core:ShareCapital2024-06-3010709192core:ShareCapital2023-06-3010709192core:RevaluationReserve2024-06-3010709192core:RetainedEarningsAccumulatedLosses2024-06-3010709192core:RetainedEarningsAccumulatedLosses2023-06-3010709192bus:Director12023-07-012024-06-3010709192bus:Director22023-07-012024-06-3010709192bus:RegisteredOffice2023-07-012024-06-3010709192core:OfficeEquipment2023-07-012024-06-30107091922022-07-012023-06-3010709192core:PlantMachinery2024-06-3010709192core:PlantMachinery2023-07-0110709192core:PlantMachinery2023-07-012024-06-3010709192core:PlantMachinery2023-06-3010709192core:CostValuation2023-07-0110709192core:AdditionsToInvestments2024-06-3010709192core:RevaluationsIncreaseDecreaseInInvestments2024-06-3010709192core:CostValuation2024-06-301070919212023-07-012024-06-3010709192countries:EnglandWales2023-07-012024-06-3010709192bus:AuditExemptWithAccountantsReport2023-07-012024-06-3010709192bus:PrivateLimitedCompanyLtd2023-07-012024-06-3010709192bus:SmallEntities2023-07-012024-06-3010709192bus:FullAccounts2023-07-012024-06-30
Company registration number:
10709192
Daysmith Hmo Limited
Unaudited Filleted Financial Statements for the year ended
30 June 2024
Daysmith Hmo Limited
Statement of Financial Position
30 June 2024
20242023
Note££
Fixed assets    
Tangible assets 5 -  
628
 
Investments 6
2,550,001
 
1,860,384
 
2,550,001
 
1,861,012
 
Current assets    
Debtors 7
387,598
 
349,854
 
Cash at bank and in hand
49,756
 
7,530
 
437,354
 
357,384
 
Creditors: amounts falling due within one year 8
(230
)
(120
)
Net current assets
437,124
 
357,264
 
Total assets less current liabilities 2,987,125   2,218,276  
Creditors: amounts falling due after more than one year 9
(2,481,084
)
(2,144,780
)
Provisions for liabilities
(62,634
) -  
Net assets
443,407
 
73,496
 
Capital and reserves    
Called up share capital
1
 
1
 
Revaluation reserve
329,653
  -  
Profit and loss account
113,753
 
73,495
 
Shareholders funds
443,407
 
73,496
 
For the year ending
30 June 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
8 January 2025
, and are signed on behalf of the board by:
Mr James Day
Mr Daniel Smith
DirectorDirector
Company registration number:
10709192
Daysmith Hmo Limited
Notes to the Financial Statements
Year ended
30 June 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
4 Adams Wharf
,
Branbridges Road
,
East Peckham
,
Kent
,
TN12 5EJ
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office equipment
20% straight line

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2023:
2.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 July 2023
and
30 June 2024
16,178
 
Depreciation  
At
1 July 2023
15,550
 
Charge
628
 
At
30 June 2024
16,178
 
Carrying amount  
At
30 June 2024
-  
At 30 June 2023
628
 

6 Investments

Other investments other than loans
£
Cost or valuation  
At
1 July 2023
1,860,384
 
Additions
359,964
 
Revaluations
329,653
 
At
30 June 2024
2,550,001
 
Impairment  
At
1 July 2023
and
30 June 2024
-  
Carrying amount  
At
30 June 2024
2,550,001
 
At 30 June 2023
1,860,384
 

Investments held at valuation

In respect of fixed asset investments held at valuation, the comparable amounts that would have been recognised if the assets had been carried under the historical cost model are as follows:
20242023
Other investments other than loansOther investments other than loans
££
Aggregate historical cost 2,220,347   1,860,384  
Carrying amount 2,220,347   1,860,384  

7 Debtors

20242023
££
Amounts owed by group undertakings and undertakings in which the company has a participating interest
386,413
 
348,413
 
Other debtors
1,185
 
1,441
 
387,598
 
349,854
 

8 Creditors: amounts falling due within one year

20242023
££
Trade creditors
230
 
120
 

9 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts
2,042,275
 
1,844,685
 
Amounts owed to group undertakings and undertakings in which the company has a participating interest
414,697
 
277,480
 
Other creditors
24,112
 
22,615
 
2,481,084
 
2,144,780
 

10 Share capital

During the period, the company had ordinary share capital (£1 per share) of £1 Allotted, called up and fully paid (2023: £1).