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REGISTERED NUMBER: 10357328 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 APRIL 2024

FOR

HOMES MADE EASY LIMITED

HOMES MADE EASY LIMITED (REGISTERED NUMBER: 10357328)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 APRIL 2024










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 6


HOMES MADE EASY LIMITED (REGISTERED NUMBER: 10357328)

STATEMENT OF FINANCIAL POSITION
29 APRIL 2024

29.4.24 29.4.23
Notes £    £   
FIXED ASSETS
Investments 4 20 20
Investment property 5 1,220,000 1,275,000
1,220,020 1,275,020

CURRENT ASSETS
Debtors 6 5,071 4,448
Cash at bank 311 2,758
5,382 7,206
CREDITORS
Amounts falling due within one year 7 (255,087 ) (207,506 )
NET CURRENT LIABILITIES (249,705 ) (200,300 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

970,315

1,074,720

CREDITORS
Amounts falling due after more than one
year

8

(660,312

)

(735,509

)

PROVISIONS FOR LIABILITIES (89,298 ) (99,748 )
NET ASSETS 220,705 239,463

CAPITAL AND RESERVES
Called up share capital 20 20
Revaluation reserve 380,693 425,243
Retained earnings (160,008 ) (185,800 )
220,705 239,463

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 April 2024 in accordance with Section 476 of the Companies Act 2006.

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.

HOMES MADE EASY LIMITED (REGISTERED NUMBER: 10357328)

STATEMENT OF FINANCIAL POSITION - continued
29 APRIL 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 29 January 2025 and were signed on its behalf by:





M Wetherill - Director


HOMES MADE EASY LIMITED (REGISTERED NUMBER: 10357328)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 APRIL 2024


1. STATUTORY INFORMATION

Homes Made Easy Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10357328

Registered office: C/O DPC
Stone House
55 Stone Road Business Park
Stoke-on-Trent
Staffordshire
ST4 6SR

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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Investment property

Investment property is included at fair value and is revalued by the directors to its fair value at each reporting date. Any changes in fair value are recognised in other comprehensive income/profit or loss.

Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Revenue recognition
Turnover is measured at the fair value of rent received or receivable.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit and loss.

HOMES MADE EASY LIMITED (REGISTERED NUMBER: 10357328)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 APRIL 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 2 (2023 - 2 ) .

HOMES MADE EASY LIMITED (REGISTERED NUMBER: 10357328)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 APRIL 2024


4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 30 April 2023
and 29 April 2024 20
NET BOOK VALUE
At 29 April 2024 20
At 29 April 2023 20

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 30 April 2023 1,275,000
Revaluations (55,000 )
At 29 April 2024 1,220,000
NET BOOK VALUE
At 29 April 2024 1,220,000
At 29 April 2023 1,275,000

Investment property comprises of an amount of £1,220,000 (2023: £1,275,000) for which a first charge over the underlying assets has been given to the lenders. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors at the year end.

Fair value at 29 April 2024 is represented by:
£   
Valuation in 2019 165,476
Valuation in 2021 244,515
Valuation in 2022 (50,000 )
Valuation in 2023 165,000
Valuation in 2024 (55,000 )
Cost 750,009
1,220,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.4.24 29.4.23
£    £   
Other debtors 5,071 4,448

HOMES MADE EASY LIMITED (REGISTERED NUMBER: 10357328)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 APRIL 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.4.24 29.4.23
£    £   
Bank loans and overdrafts 10,319 10,133
Amounts owed to group undertakings 16,414 27,608
Other creditors 228,354 169,765
255,087 207,506

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.4.24 29.4.23
£    £   
Bank loans 660,312 735,509

Amounts falling due in more than five years:

Repayable by instalments
Bank loans payable more than
5 years by instalments 648,196 713,255
648,196 713,255

9. SECURED DEBTS

The following secured debts are included within creditors:

29.4.24 29.4.23
£    £   
Bank loans 670,631 745,642

Bank loans include £670,631 (2023: £745,642) secured by way of a fixed first charge over the underlying assets.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

All transactions undertaken with directors are deemed to be conducted under normal market conditions. At the 29 April 2024, £207,920 (2023: £149,753) was due to the director.

11. EVENTS AFTER THE END OF THE REPORTING PERIOD

There were no significant events up to the date of approval of the financial statements by the Board.