Company registration number 06984987 (England and Wales)
HOMELETS.CO.UK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
HOMELETS.CO.UK LIMITED
COMPANY INFORMATION
Directors
Mrs M H Binks
Mr A Binks
Company number
06984987
Registered office
7 Waterside Court
St. Helens
Merseyside
United Kingdom
WA9 1UA
Accountants
BK Plus Limited
7 Waterside Court
St. Helens
Merseyside
United Kingdom
WA9 1UA
Business address
2nd Floor Edward Pavilion
Albert Dock
Liverpool
L3 4AF
HOMELETS.CO.UK LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
HOMELETS.CO.UK LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
90,000
99,000
Tangible assets
4
22,996
3,055
112,996
102,055
Current assets
Debtors
5
64,783
39,124
Cash at bank and in hand
1,949
3,004
66,732
42,128
Creditors: amounts falling due within one year
6
(103,479)
(81,767)
Net current liabilities
(36,747)
(39,639)
Total assets less current liabilities
76,249
62,416
Creditors: amounts falling due after more than one year
7
(41,686)
(28,261)
Provisions for liabilities
(5,749)
(580)
Net assets
28,814
33,575
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
28,714
33,475
Total equity
28,814
33,575
HOMELETS.CO.UK LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
For the financial year ended 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 of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 26 March 2025 and are signed on its behalf by:
Mr A Binks
Director
Company registration number 06984987 (England and Wales)
HOMELETS.CO.UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
Homelets.co.uk Limited is a private company limited by shares incorporated in England and Wales. The registered office is 7 Waterside Court, St. Helens, Merseyside, United Kingdom, WA9 1UA. The principal place of business is 2nd Floor Edward Pavilion, Albert Dock, Liverpool, L3 4AF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, the principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Office equipment
15% reducing balance and 33% straight line
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
HOMELETS.CO.UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
4
4
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
180,000
Amortisation and impairment
At 1 April 2023
81,000
Amortisation charged for the year
9,000
At 31 March 2024
90,000
Carrying amount
At 31 March 2024
90,000
At 31 March 2023
99,000
HOMELETS.CO.UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
4
Tangible fixed assets
Office equipment
Motor vehicles
Total
£
£
£
Cost
At 1 April 2023
20,489
20,489
Additions
680
26,595
27,275
At 31 March 2024
21,169
26,595
47,764
Depreciation and impairment
At 1 April 2023
17,434
17,434
Depreciation charged in the year
685
6,649
7,334
At 31 March 2024
18,119
6,649
24,768
Carrying amount
At 31 March 2024
3,050
19,946
22,996
At 31 March 2023
3,055
3,055
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
9,083
Other debtors
55,700
39,124
64,783
39,124
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
4,839
4,984
Trade creditors
607
548
Corporation tax
48,711
32,111
Other creditors
49,322
44,124
103,479
81,767
HOMELETS.CO.UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
23,457
28,261
Other creditors
18,229
41,686
28,261
8
Directors' transactions
The below loans are unsecured, interest free and repayable on demand. All the figures are disclosed on an aggregate basis. The loans were repaid shortly after the year end.
2024
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Mrs M Binks - director's loan
25,834
31,926
(25,921)
31,839
Mr A Binks - director's loan
12,950
31,976
(26,979)
17,947
38,784
63,902
(52,900)
49,786
2023
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Mrs M Binks - director's loan
11,902
24,712
(10,780)
25,834
Mr A Binks - director's loan
610
23,560
(11,220)
12,950
12,512
48,272
(22,000)
38,784