Registered number
10818898
Home Developments NE Ltd
Filleted Accounts
30 June 2024
Home Developments NE Ltd
Registered number: 10818898
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Current assets
Stocks 102,299 102,299
Cash at bank and in hand - 190
102,299 102,489
Creditors: amounts falling due within one year 3 (105,492) (105,031)
Net current liabilities (3,193) (2,542)
Net liabilities (3,193) (2,542)
Capital and reserves
Called up share capital 2 2
Profit and loss account (3,195) (2,544)
Shareholders' funds (3,193) (2,542)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Shaheen Mohammed
Director
Approved by the board on 27 March 2025
Home Developments NE Ltd
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 40 190
Other creditors 105,452 104,841
105,492 105,031
4 Other information
Home Developments NE Ltd is a private company limited by shares and incorporated in England. Its registered office is:
61 Homestore
Shields Road
Newcastle upon Tyne
NE6 1DL
Home Developments NE Ltd 10818898 false 2023-07-01 2024-06-30 2024-06-30 VT Final Accounts July 2024 Shaheen Mohammed No description of principal activity 10818898 2022-07-01 2023-06-30 10818898 core:WithinOneYear 2023-06-30 10818898 core:ShareCapital 2023-06-30 10818898 core:RetainedEarningsAccumulatedLosses 2023-06-30 10818898 2023-07-01 2024-06-30 10818898 bus:EntityHasNeverTraded 2023-07-01 2024-06-30 10818898 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10818898 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 10818898 bus:Director40 2023-07-01 2024-06-30 10818898 1 2023-07-01 2024-06-30 10818898 2 2023-07-01 2024-06-30 10818898 countries:England 2023-07-01 2024-06-30 10818898 bus:FRS102 2023-07-01 2024-06-30 10818898 bus:FilletedAccounts 2023-07-01 2024-06-30 10818898 2024-06-30 10818898 core:WithinOneYear 2024-06-30 10818898 core:ShareCapital 2024-06-30 10818898 core:RetainedEarningsAccumulatedLosses 2024-06-30 10818898 2023-06-30 iso4217:GBP xbrli:pure