2023-10-012024-09-302024-09-30false12898658HOME OF HAI 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HOME OF HAI LIMITED

Registered Number
12898658
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2024

HOME OF HAI LIMITED
Company Information
for the year from 1 October 2023 to 30 September 2024

Director

Vermeulen, Tessa

Registered Address

11 Boundary Street
London
E2 7JE

Registered Number

12898658 (England and Wales)
HOME OF HAI LIMITED
Balance Sheet as at
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets36,52210,090
Tangible assets423,32910,433
29,85120,523
Current assets
Stocks129,113136,204
Debtors116,777247,245
Cash at bank and on hand54,94981,067
300,839464,516
Creditors amounts falling due within one year(44,447)(79,985)
Net current assets (liabilities)256,392384,531
Total assets less current liabilities286,243405,054
Provisions for liabilities(5,672)(4,969)
Net assets280,571400,085
Capital and reserves
Called up share capital100100
Profit and loss account280,471399,985
Shareholders' funds280,571400,085
The financial statements were approved and authorised for issue by the Director on 3 February 2025, and are signed on its behalf by:
Vermeulen, Tessa
Director
Registered Company No. 12898658
HOME OF HAI LIMITED
Notes to the Financial Statements
for the year ended 30 September 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the profit and loss account.
Current taxation
Current tax is recognised in the profit and loss account. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Website development expenditure is stated at cost less accumulated amortisation and accumulated impairment losses. The asset is reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. Assets are stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of the respective asset as follows:

Straight line (years)
Land and buildings6
Plant and machinery3
Office Equipment3
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in the profit and loss account.
2.Average number of employees

20242023
Average number of employees during the year45
3.Intangible assets

Total

£
Cost or valuation
At 01 October 2317,791
At 30 September 2417,791
Amortisation and impairment
At 01 October 237,701
Charge for year3,568
At 30 September 2411,269
Net book value
At 30 September 246,522
At 30 September 2310,090
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 October 2322,509
Additions22,061
Disposals(4,529)
At 30 September 2440,041
Depreciation and impairment
At 01 October 2312,075
Charge for year8,730
On disposals(4,093)
At 30 September 2416,713
Net book value
At 30 September 2423,329
At 30 September 2310,433
5.Directors advances, credits and guarantees
During the year, the director received advances totalling £20,470 (2023 nil). These were repaid and no balance is owed to the company as at 30 September 2024 (2023 nil). Interest was charged at the HMRC official rate of 2.25% per annum.