Acorah Software Products - Accounts Production 16.1.300 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 SC728192 Angel Luis Almonte Perez Solene Antonetta Marinette Capaldi iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC728192 2023-03-31 SC728192 2024-03-31 SC728192 2023-04-01 2024-03-31 SC728192 frs-core:CurrentFinancialInstruments 2024-03-31 SC728192 frs-core:ComputerEquipment 2024-03-31 SC728192 frs-core:ComputerEquipment 2023-04-01 2024-03-31 SC728192 frs-core:ComputerEquipment 2023-03-31 SC728192 frs-core:PlantMachinery 2024-03-31 SC728192 frs-core:PlantMachinery 2023-04-01 2024-03-31 SC728192 frs-core:PlantMachinery 2023-03-31 SC728192 frs-core:ShareCapital 2024-03-31 SC728192 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 SC728192 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC728192 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 SC728192 frs-bus:SmallEntities 2023-04-01 2024-03-31 SC728192 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC728192 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC728192 frs-bus:Director1 2023-04-01 2024-03-31 SC728192 frs-bus:Director2 2023-04-01 2024-03-31 SC728192 frs-countries:Scotland 2023-04-01 2024-03-31 SC728192 2022-03-31 SC728192 2023-03-31 SC728192 2022-04-01 2023-03-31 SC728192 frs-core:CurrentFinancialInstruments 2023-03-31 SC728192 frs-core:ShareCapital 2023-03-31 SC728192 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: SC728192
Home Sweet Property Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC728192
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 800 3,924
800 3,924
CURRENT ASSETS
Debtors 5 - 2,000
Cash at bank and in hand 10,660 9,337
10,660 11,337
Creditors: Amounts Falling Due Within One Year 6 (11,030 ) (15,169 )
NET CURRENT ASSETS (LIABILITIES) (370 ) (3,832 )
TOTAL ASSETS LESS CURRENT LIABILITIES 430 92
NET ASSETS 430 92
CAPITAL AND RESERVES
Called up share capital 7 2 2
Profit and Loss Account 428 90
SHAREHOLDERS' FUNDS 430 92
Page 1
Page 2
For the year ending 31 March 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Solene Antonetta Marinette Capaldi
Director
10 February 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Home Sweet Property Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC728192 . The registered office is 36h Beach Lane, Musselburgh, EH21 6LB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty. The following criteria must also be met before revenue is recognised:
Income from investment properties
Rental income from investment properties leased out under an operating lease is recognised in the income statement on a straight-line basis over the term of the lease. Lease incentives granted are recognised as an integral part of the total rental income over the life of the lease.
Service charge income is recognised as revenue in the period to which it relates.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Reducing Balance Method
Computer Equipment 20% Reducing Balance Method
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 3
Page 4
2.4. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 4,904 - 4,904
Additions - 1,000 1,000
Disposals (4,904 ) - (4,904 )
As at 31 March 2024 - 1,000 1,000
Depreciation
As at 1 April 2023 980 - 980
Provided during the period - 200 200
Disposals (980 ) - (980 )
As at 31 March 2024 - 200 200
Net Book Value
As at 31 March 2024 - 800 800
As at 1 April 2023 3,924 - 3,924
5. Debtors
2024 2023
£ £
Due within one year
Other debtors - 2,000
Page 4
Page 5
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 818 -
VAT - 4,028
Other creditors - 7,151
Accruals and deferred income 720 265
Directors' loan accounts 9,492 3,725
11,030 15,169
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
8. Related Party Transactions
Included in creditors due within one year is an amount of £9,492 (2023: £3,725 ) owed to its directors. The amount is interest free and repayable on demand.
Page 5