Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-301false2023-05-01No description of principal activity1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08484983 2023-05-01 2024-04-30 08484983 2022-05-01 2023-04-30 08484983 2024-04-30 08484983 2023-04-30 08484983 2022-05-01 08484983 c:Director1 2023-05-01 2024-04-30 08484983 d:CurrentFinancialInstruments 2024-04-30 08484983 d:CurrentFinancialInstruments 2023-04-30 08484983 d:Non-currentFinancialInstruments 2024-04-30 08484983 d:Non-currentFinancialInstruments 2023-04-30 08484983 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 08484983 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 08484983 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 08484983 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 08484983 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-04-30 08484983 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-04-30 08484983 d:ShareCapital 2023-05-01 2024-04-30 08484983 d:ShareCapital 2024-04-30 08484983 d:ShareCapital 2022-05-01 2023-04-30 08484983 d:ShareCapital 2023-04-30 08484983 d:ShareCapital 2022-05-01 08484983 d:RevaluationReserve 2023-05-01 2024-04-30 08484983 d:RevaluationReserve 2024-04-30 08484983 d:RevaluationReserve 2022-05-01 2023-04-30 08484983 d:RevaluationReserve 2023-04-30 08484983 d:RevaluationReserve 2022-05-01 08484983 d:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 08484983 d:RetainedEarningsAccumulatedLosses 2024-04-30 08484983 d:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 08484983 d:RetainedEarningsAccumulatedLosses 2023-04-30 08484983 d:RetainedEarningsAccumulatedLosses 2022-05-01 08484983 c:FRS102 2023-05-01 2024-04-30 08484983 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 08484983 c:FullAccounts 2023-05-01 2024-04-30 08484983 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 08484983 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 08484983 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 08484983 d:TaxLossesCarry-forwardsDeferredTax 2024-04-30 08484983 d:TaxLossesCarry-forwardsDeferredTax 2023-04-30 08484983 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 08484983










HOME PORTFOLIO LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
HOME PORTFOLIO LIMITED
REGISTERED NUMBER: 08484983

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
440,000
440,000

  
440,000
440,000

Current assets
  

Cash at bank and in hand
 6 
235,970
265,108

Creditors: amounts falling due within one year
 7 
(177,138)
(204,526)

Net current assets
  
 
 
58,832
 
 
60,582

Total assets less current liabilities
  
498,832
500,582

Creditors: amounts falling due after more than one year
 8 
(241,600)
(241,600)

Provisions for liabilities
  

Deferred tax
 10 
(46,402)
(46,839)

  
 
 
(46,402)
 
 
(46,839)

Net assets
  
210,830
212,143


Capital and reserves
  

Called up share capital 
  
1
1

Revaluation reserve
  
202,555
202,555

Profit and loss account
  
8,274
9,587

  
210,830
212,143


Page 1

 
HOME PORTFOLIO LIMITED
REGISTERED NUMBER: 08484983
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






................................................
S M South
Director

Date: 15 January 2025

The notes on pages 5 to 10 form part of these financial statements.

Page 2

 
HOME PORTFOLIO LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 May 2023
1
202,555
9,587
212,143


Comprehensive income for the year

Loss for the year

-
-
(1,313)
(1,313)


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
(1,313)
(1,313)


Total transactions with owners
-
-
-
-


At 30 April 2024
1
202,555
8,274
210,830


The notes on pages 5 to 10 form part of these financial statements.

Page 3

 
HOME PORTFOLIO LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2023


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 May 2022
1
199,840
(51,940)
147,901


Comprehensive income for the year

Profit for the year

-
-
61,527
61,527

Surplus on revaluation of other fixed assets
-
2,715
-
2,715


Other comprehensive income for the year
-
2,715
-
2,715


Total comprehensive income for the year
-
2,715
61,527
64,242


Total transactions with owners
-
-
-
-


At 30 April 2023
1
202,555
9,587
212,143


The notes on pages 5 to 10 form part of these financial statements.

Page 4

 
HOME PORTFOLIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

The company, which was incorporated and registered in England and Wales (registered number 08484983), is a privately owned company, limited by shares. The registered office address is Wey Court West, Union Road, Farnham, Surrey, GU9 7PT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is rental income recognised in the period in which the rent is are charged.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 5

 
HOME PORTFOLIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. 
Changes in fair value are recognised in the statement of changes of equity.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
HOME PORTFOLIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.9

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts
Page 7

 
HOME PORTFOLIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.10
Financial instruments (continued)

discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


At 1 May 2023
440,000



At 30 April 2024
440,000




Page 8

 
HOME PORTFOLIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Investment property

The 2023 valuations were made by the director, on an open market value for existing use basis.




If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
237,446
237,446

Accumulated depreciation and impairments
(42,740)
(37,991)

194,706
199,455


6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
235,970
265,108



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
-
13,387

Other creditors
177,138
191,139

177,138
204,526



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
241,600
241,600


The bank loans are securred by a fixed charge over the investment properties.

Page 9

 
HOME PORTFOLIO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£




Amounts falling due after more than 5 years

Bank loans
241,600
241,600

241,600
241,600


The bank loans are interest only and repayable in full after 25 years.


10.


Deferred taxation




2024


£






At beginning of year
(46,839)


Charged to profit or loss
437



At end of year
(46,402)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Capital gains
(46,840)
(46,839)

Tax losses carried forward
438
-

(46,402)
(46,839)

 
Page 10