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Registered number: 08157398
From Houses to Homes Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
Ascot Sinclair Associates Ltd
Chartered Certified Accountants
Avondale House
262 Uxbridge Road
Hatch End
Middlesex
HA5 4HS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08157398
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 763 1,018
Investment Properties 5 1,386,489 1,540,409
Investments 6 10,000 -
1,397,252 1,541,427
CURRENT ASSETS
Debtors 7 824 23
Cash at bank and in hand 54,649 22,010
55,473 22,033
Creditors: Amounts Falling Due Within One Year 8 (18,797 ) (36,613 )
NET CURRENT ASSETS (LIABILITIES) 36,676 (14,580 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,433,928 1,526,847
Creditors: Amounts Falling Due After More Than One Year 9 (1,101,069 ) (1,177,766 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (151,585 ) (151,585 )
NET ASSETS 181,274 197,496
CAPITAL AND RESERVES
Called up share capital 10 200 200
Fair value reserve 11 12,500 12,500
Profit and Loss Account 168,574 184,796
SHAREHOLDERS' FUNDS 181,274 197,496
Page 1
Page 2
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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Kaval Shah
Director
Mr Veeral Shah
Director
27/01/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
From Houses to Homes Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08157398 . The registered office is Avondale House, 262 Uxbridge Road, Hatch End, HA5 4HS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
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.
Rendering of services
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 is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance basis
Investment Property is accounted for in accordance with FRS102.
2.4. Investment Properties
All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the profit and loss account.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
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 years 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.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 May 2023 2,865
As at 30 April 2024 2,865
Depreciation
As at 1 May 2023 1,847
Provided during the period 255
As at 30 April 2024 2,102
Net Book Value
As at 30 April 2024 763
As at 1 May 2023 1,018
5. Investment Property
2024
£
Fair Value
As at 1 May 2023 1,540,409
Disposals (153,920 )
As at 30 April 2024 1,386,489
6. Investments
Other
£
Cost
As at 1 May 2023 -
Additions 10,000
As at 30 April 2024 10,000
Provision
As at 1 May 2023 -
As at 30 April 2024 -
Net Book Value
As at 30 April 2024 10,000
As at 1 May 2023 -
Page 4
Page 5
7. Debtors
2024 2023
as restated
£ £
Due within one year
Net wages 801 -
Amounts owed by associates 23 23
824 23
8. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Trade creditors (1 ) (1 )
Bank loans and overdrafts 10,513 17,657
Other taxes and social security 226 739
Net wages - 349
Other creditors 185 185
Other creditors - Rent Deposit (1,043 ) (449 )
Other creditors - Natwest Credit Card (558 ) (392 )
Other creditors - Nest Pension 249 299
Other creditors - Dividend payable 3,000 2,000
Accruals and deferred income 1,226 1,226
Directors' loan accounts 5,000 15,000
18,797 36,613
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
as restated
£ £
Bank loans 808,694 885,391
Corporation tax 2,375 2,375
Investor Loan - Individuals excluding Directors 290,000 290,000
1,101,069 1,177,766
10. Share Capital
2024 2023
as restated
£ £
Allotted, Called up and fully paid 200 200
11. Reserves
Fair Value Reserve
£
As at 1 May 2023 12,500
As at 30 April 2024 12,500
Page 5