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Company Registration No. 10719933 (England and Wales)
Homies On Donkeys Ltd Unaudited accounts for the year ended 30 April 2024
Homies On Donkeys Ltd Unaudited accounts Contents
Page
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Homies On Donkeys Ltd Company Information for the year ended 30 April 2024
Director
Erik Fernandez
Company Number
10719933 (England and Wales)
Registered Office
686 High Road Leytonstone London E11 3AA England
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Homies On Donkeys Ltd Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
31,019 
8,437 
Current assets
Inventories
5,000 
500 
Debtors
10,147 
3,691 
Cash at bank and in hand
353,045 
96,611 
368,192 
100,802 
Creditors: amounts falling due within one year
(208,550)
(8,054)
Net current assets
159,642 
92,748 
Total assets less current liabilities
190,661 
101,185 
Creditors: amounts falling due after more than one year
(4,004)
(9,294)
Net assets
186,657 
91,891 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
186,655 
91,889 
Shareholders' funds
186,657 
91,891 
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 31 January 2025 and were signed on its behalf by
Erik Fernandez Director Company Registration No. 10719933
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Homies On Donkeys Ltd Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
Homies On Donkeys Ltd is a private company, limited by shares, registered in England and Wales, registration number 10719933. The registered office is 686 High Road Leytonstone, London, E11 3AA, England.
2
Compliance with accounting standards
The accounts have been prepared under the historical cost convention and in accordance with the provisions of FRS 102 Section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland". There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% straight line
Computer equipment
25% straight line
Inventories
Inventories have been valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Cash and cash equivalents
Cash is represented by deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Creditors
Short term creditors are measured at the transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
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Homies On Donkeys Ltd Notes to the Accounts for the year ended 30 April 2024
Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the Balance Sheet date and carried forward to future period. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the Balance Sheet date.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Finance costs
Finance costs are charged to profit and 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.
Taxation
Income tax expense represents the sum of the tax currently payable. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Prior year adjustment
In the prior year, an item of plant and machinery worth £11,250 that should have been capitalised was expensed to the Profit and Loss account as rent. The prior year comparatives have been re-stated with the plant and machinery worth £11,250 being capitalised and depreciation of £2,813 being posted. This has the effect of reducing the prior year loss by £8,437 from £15,111 to £6,674 and increasing the value of tangible fixed assets from £nil to £8,437.
4
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 May 2023
11,250 
- 
11,250 
Additions
33,750 
110 
33,860 
At 30 April 2024
45,000 
110 
45,110 
Depreciation
At 1 May 2023
2,813 
- 
2,813 
Charge for the year
11,250 
28 
11,278 
At 30 April 2024
14,063 
28 
14,091 
Net book value
At 30 April 2024
30,937 
82 
31,019 
At 30 April 2023
8,437 
- 
8,437 
5
Inventories
2024 
2023 
£ 
£ 
Raw materials
5,000 
500 
5,000 
500 
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Homies On Donkeys Ltd Notes to the Accounts for the year ended 30 April 2024
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
382 
Accrued income and prepayments
8,295 
- 
Other debtors
1,852 
3,309 
10,147 
3,691 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
2,750 
- 
VAT
43,567 
- 
Trade creditors
40,249 
- 
Taxes and social security
28,782 
6,845 
Other creditors
76,911 
309 
Loans from directors
1,333 
- 
Accruals
14,958 
900 
208,550 
8,054 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
4,004 
9,294 
9
Average number of employees
During the year the average number of employees was 30 (2023: 3).
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