Company Registration No. 10935339 (England and Wales)
Tru Homes Ltd
Unaudited accounts
for the year ended 31 August 2024
Tru Homes Ltd
Unaudited accounts
Contents
Tru Homes Ltd
Company Information
for the year ended 31 August 2024
Company Number
10935339 (England and Wales)
Registered Office
7 Bell Yard
London
Middlesex
WC2A 2JR
England
Accountants
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
Tru Homes Ltd
Accountants' report
Accountants' report to the director of Tru Homes Ltd on the preparation of the unaudited statutory accounts for the year ended 31 August 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Tru Homes Ltd for the year ended
31 August 2024 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Tru Homes Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Tru Homes Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tru Homes Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Tru Homes Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Tru Homes Ltd. You consider that Tru Homes Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Tru Homes Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
7 March 2025
Tru Homes Ltd
Statement of financial position
as at 31 August 2024
Investment property
393,280
254,611
Cash at bank and in hand
94,675
25,457
Creditors: amounts falling due within one year
(327,127)
(141,155)
Net current liabilities
(232,452)
(115,698)
Total assets less current liabilities
169,158
139,302
Creditors: amounts falling due after more than one year
(135,725)
(135,725)
Provisions for liabilities
Called up share capital
100
100
Revaluation reserve
58,690
49,022
Profit and loss account
(34,866)
(45,545)
Shareholders' funds
23,924
3,577
For the year ending 31 August 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 17 March 2025 and were signed on its behalf by
Engin Uluturk
Director
Company Registration No. 10935339
Tru Homes Ltd
Notes to the Accounts
for the year ended 31 August 2024
Tru Homes Ltd is a private company, limited by shares, registered in England and Wales, registration number 10935339. The registered office is 7 Bell Yard, London, Middlesex, WC2A 2JR, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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:
Fixtures & fittings
33% on cost
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Tru Homes Ltd
Notes to the Accounts
for the year ended 31 August 2024
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 September 2023
389
-
389
Additions
6,720
1,999
8,719
At 31 August 2024
7,109
1,999
9,108
Charge for the year
389
389
778
At 31 August 2024
389
389
778
At 31 August 2024
6,720
1,610
8,330
At 31 August 2023
389
-
389
Fair value at 1 September 2023
254,611
Net gain from fair value adjustments
29,231
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
6
Creditors: amounts falling due within one year
2024
2023
Other creditors
133,234
30,640
Loans from directors
192,873
109,375
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
135,725
135,725
Aggregate of amounts that fall due for payment after five years
135,725
135,725
Included in long term creditors are bank loans secured on investment properties. Personal guarantees have been provided.
Tru Homes Ltd
Notes to the Accounts
for the year ended 31 August 2024
8
Deferred taxation
2024
2023
Revaluation of investment property
19,563
-
Tax losses carried forward
(10,054)
-
Charged to the profit and loss account
9,509
-
Provision at end of year
9,509
-
9
Transactions with related parties
At the year end, the Director was owed £192,874 (2023 - £109,372). No interest was charged in the year (2023 - £4,207).
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).