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Registration number: 12795132

Home Eco Solutions Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

 

 

Home Eco Solutions Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 13

 

Home Eco Solutions Ltd

Company Information

Director

Mr Simon Philip Lloyd

Registered office

Unit 2e-2f
Hendy Industrial Estate
Pontarddulais
Swansea
SA4 0XP

Accountants

A&L Accountancy Limited
196 St Teilo Street
Pontardulais
SWANSEA
SA4 8LQ

 

Home Eco Solutions Ltd

Director's Report for the Year Ended 31 August 2024

The director presents his report and the financial statements for the year ended 31 August 2024.

Director of the company

The director who held office during the year was as follows:

Mr Simon Philip Lloyd

Principal activity

The principal activity of the company is central heating supply and installation

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 21 March 2025
 

.........................................
Mr Simon Philip Lloyd
Director

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Home Eco Solutions Ltd
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 Home Eco Solutions Ltd for the year ended 31 August 2024 as set out on pages 4 to 13 from the company's accounting records and from information and explanations you have given us.

It is your duty to ensure that Home Eco Solutions 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 Home Eco Solutions Ltd. You consider that Home Eco Solutions 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 Home Eco Solutions 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.

......................................

A&L Accountancy Limited
196 St Teilo Street
Pontardulais
SWANSEA
SA4 8LQ

21 March 2025

 

Home Eco Solutions Ltd

Profit and Loss Account for the Year Ended 31 August 2024

Note

2024
£

2023
£

Turnover

 

2,806,787

1,201,531

Cost of sales

 

(1,968,318)

(893,303)

Gross profit

 

838,469

308,228

Administrative expenses

 

(691,040)

(206,687)

Operating profit

 

147,429

101,541

Interest payable and similar expenses

 

(1,131)

(10,800)

Profit before tax

4

146,298

90,741

Tax on profit

 

(33,896)

(11,170)

Profit for the financial year

 

112,402

79,571

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Home Eco Solutions Ltd

Statement of Comprehensive Income for the Year Ended 31 August 2024

2024
£

2023
£

Profit for the year

112,402

79,571

Total comprehensive income for the year

112,402

79,571

 

Home Eco Solutions Ltd

(Registration number: 12795132)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

66,308

62,148

Current assets

 

Debtors

6

282,523

206,568

Cash at bank and in hand

 

38,130

54,750

 

320,653

261,318

Creditors: Amounts falling due within one year

7

(316,205)

(273,862)

Net current assets/(liabilities)

 

4,448

(12,544)

Net assets

 

70,756

49,604

Capital and reserves

 

Called up share capital

8

10

10

Retained earnings

70,746

49,594

Shareholders' funds

 

70,756

49,604

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 21 March 2025
 

.........................................
Mr Simon Philip Lloyd
Director

 

Home Eco Solutions Ltd

Statement of Changes in Equity for the Year Ended 31 August 2024

Share capital
£

Retained earnings
£

Total
£

At 1 September 2023

10

49,594

49,604

Profit for the year

-

112,402

112,402

Dividends

-

(91,250)

(91,250)

At 31 August 2024

10

70,746

70,756

Share capital
£

Retained earnings
£

Total
£

At 1 September 2022

2

23

25

Profit for the year

-

79,571

79,571

Dividends

-

(30,000)

(30,000)

New share capital subscribed

8

-

8

At 31 August 2023

10

49,594

49,604

 

Home Eco Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 2e-2f
Hendy Industrial Estate
Pontarddulais
Swansea
SA4 0XP

These financial statements were authorised for issue by the director on 21 March 2025.

2

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Home Eco Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

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

Office equipment

25% SL

Motor vehicles

25% SL

Plant and machinery

25% SL

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Home Eco Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 12 (2023 - 9).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

29,022

22,289

 

Home Eco Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 September 2023

13,500

74,895

4,167

92,562

Additions

1,082

73,000

14,850

88,932

Disposals

-

(62,000)

-

(62,000)

At 31 August 2024

14,582

85,895

19,017

119,494

Depreciation

At 1 September 2023

8,375

20,998

1,041

30,414

Charge for the year

3,645

20,623

4,754

29,022

Eliminated on disposal

-

(6,250)

-

(6,250)

At 31 August 2024

12,020

35,371

5,795

53,186

Carrying amount

At 31 August 2024

2,562

50,524

13,222

66,308

At 31 August 2023

5,125

53,897

3,126

62,148

6

Debtors

Current

2024
£

2023
£

Trade debtors

14,807

142,977

Prepayments

-

63,591

Other debtors

267,716

-

 

282,523

206,568

7

Creditors

Creditors: amounts falling due within one year

 

Home Eco Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

50,852

165,138

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

3,578

566

Taxation and social security

 

257,383

101,848

Accruals and deferred income

 

2,000

1,447

Other creditors

 

2,392

4,863

 

316,205

273,862

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

10

10

10

10

       

9

Dividends

2024

2023

£

£

Interim dividend of £Nil (2023 - £3,000.00) per ordinary share

91,250

30,000

 

 

10

Related party transactions

 

Home Eco Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

102,360

22,903