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REGISTERED NUMBER: 06879985 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Homes Direct 365 Limited

Homes Direct 365 Limited (Registered number: 06879985)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Homes Direct 365 Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Mr J Gregory
Mr K A Ward





SECRETARY: Miss L Ward





REGISTERED OFFICE: 3B Lockheed Court
Preston Farm
Stockton on Tees
Co. Durham
TS18 3SH





REGISTERED NUMBER: 06879985 (England and Wales)





ACCOUNTANTS: JBC Accountants Limited
Chartered Accountants
3B Lockheed Court
Preston Farm
Stockton on Tees
TS18 3SH

Homes Direct 365 Limited (Registered number: 06879985)

Balance Sheet
31 May 2024

31/5/24 31/5/23
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 203,698 236,364
203,698 236,364

CURRENT ASSETS
Stocks 1,665,265 1,193,808
Debtors 6 232,959 1,012,215
Cash at bank and in hand 108,306 229,772
2,006,530 2,435,795
CREDITORS
Amounts falling due within one year 7 1,459,285 1,280,904
NET CURRENT ASSETS 547,245 1,154,891
TOTAL ASSETS LESS CURRENT
LIABILITIES

750,943

1,391,255

CREDITORS
Amounts falling due after more than one
year

8

(467,361

)

(710,687

)

PROVISIONS FOR LIABILITIES (33,243 ) (44,863 )
NET ASSETS 250,339 635,705

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 250,329 635,695
250,339 635,705

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Direct 365 Limited (Registered number: 06879985)

Balance Sheet - continued
31 May 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 Profit and Loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 February 2025 and were signed on its behalf by:




Mr J Gregory - Director



Mr K A Ward - Director


Homes Direct 365 Limited (Registered number: 06879985)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Homes Direct 365 Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill arising has been capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over 3 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 33% on cost
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the weighted average method.
The cost of finished goods and work in progress comprise direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition.Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Loans and borrowings
Loans and borrowings are initially recorded at fair value, net of transaction costs. Subsequently, they are measured at amortised cost, with the difference between the proceeds, net of transaction costs and the amount due on redemption being recognised as a charge to the Profit and Loss account over the period of the borrowing.
Interest is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.

Current and deferred tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Homes Direct 365 Limited (Registered number: 06879985)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2023 - 37 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£ £ £
COST
At 1 June 2023
and 31 May 2024 40,002 36,720 76,722
AMORTISATION
At 1 June 2023
and 31 May 2024 40,002 36,720 76,722
NET BOOK VALUE
At 31 May 2024 - - -
At 31 May 2023 - - -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£ £ £
COST
At 1 June 2023 8,154 503,077 511,231
Additions 31,552 17,600 49,152
Disposals - (58,593 ) (58,593 )
At 31 May 2024 39,706 462,084 501,790
DEPRECIATION
At 1 June 2023 66 274,801 274,867
Charge for year 7,941 48,596 56,537
Eliminated on disposal - (33,312 ) (33,312 )
At 31 May 2024 8,007 290,085 298,092
NET BOOK VALUE
At 31 May 2024 31,699 171,999 203,698
At 31 May 2023 8,088 228,276 236,364

Homes Direct 365 Limited (Registered number: 06879985)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£ £
Trade debtors 1,118 -
Other debtors 231,841 1,012,215
232,959 1,012,215

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£ £
Bank loans and overdrafts 50,000 50,000
Hire purchase contracts 10,260 10,260
Trade creditors 397,964 431,169
Taxation and social security 707,908 224,211
Other creditors 293,153 565,264
1,459,285 1,280,904

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/5/24 31/5/23
£ £
Bank loans 54,166 104,166
Hire purchase contracts 27,360 37,620
Other creditors 385,835 568,901
467,361 710,687

9. SECURED DEBTS

The following secured debts are included within creditors:

31/5/24 31/5/23
£ £
Other loans 568,845 739,718

Other loans are secured by a fixed and floating charge over the assets of the company.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 May 2024 and the period ended 31 May 2023:

31/5/24 31/5/23
£ £
Mr J Gregory
Balance outstanding at start of year 92,435 82,292
Amounts advanced 86,038 92,443
Amounts repaid (92,500 ) (82,300 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 85,973 92,435

Homes Direct 365 Limited (Registered number: 06879985)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr K A Ward
Balance outstanding at start of year 92,433 79,859
Amounts advanced 86,038 97,223
Amounts repaid (92,500 ) (84,649 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 85,971 92,433

Interest has been charged on the above loans at 2.25%.