Registration number:
Homesdale Developments Ltd
for the Period from 25 July 2023 to 31 July 2024
Homesdale Developments Ltd
Contents
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
Homesdale Developments Ltd
(Registration number: 15027083)
Balance Sheet as at 31 July 2024
Note |
2024 |
|
Fixed assets |
||
Tangible assets |
|
|
Current assets |
||
Stocks |
|
|
Debtors |
|
|
Cash at bank and in hand |
|
|
|
||
Creditors: Amounts falling due within one year |
( |
|
Net current assets |
|
|
Total assets less current liabilities |
|
|
Creditors: Amounts falling due after more than one year |
( |
|
Net assets |
|
|
Capital and reserves |
||
Called up share capital |
|
|
Retained earnings |
|
|
Shareholders' funds |
|
For the financial period ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
......................................... |
Homesdale Developments Ltd
Notes to the Unaudited Financial Statements for the Period from 25 July 2023 to 31 July 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Judgements
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods. |
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Furniture, fittings and equipment |
25% Reducing Balance |
Homesdale Developments Ltd
Notes to the Unaudited Financial Statements for the Period from 25 July 2023 to 31 July 2024
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises 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. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried 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 relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Homesdale Developments Ltd
Notes to the Unaudited Financial Statements for the Period from 25 July 2023 to 31 July 2024
Tangible assets |
Furniture, fittings and equipment |
Total |
|
Cost or valuation |
||
Additions |
|
|
At 31 July 2024 |
|
|
Depreciation |
||
Charge for the period |
|
|
At 31 July 2024 |
|
|
Carrying amount |
||
At 31 July 2024 |
|
|
Stocks |
2024 |
|
Other inventories |
|
Debtors |
2024 |
|
Prepayments |
|
Other debtors |
|
|
Homesdale Developments Ltd
Notes to the Unaudited Financial Statements for the Period from 25 July 2023 to 31 July 2024
Creditors |
Creditors: amounts falling due within one year
2024 |
|
Due within one year |
|
Trade creditors |
|
Taxation and social security |
|
Accruals and deferred income |
|
|
Creditors: amounts falling due after more than one year
2024 |
|
Due after one year |
|
Amounts owed to related parties |
|