8 8 Homes Independent Limited NI040499 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is acting as agents in the selling, renting and leasing of commercial and private property. Digita Accounts Production Advanced 6.30.9574.0 true true NI040499 2023-04-01 2024-03-31 NI040499 2024-03-31 NI040499 bus:OrdinaryShareClass1 2024-03-31 NI040499 core:CurrentFinancialInstruments 2024-03-31 NI040499 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 NI040499 core:Goodwill 2024-03-31 NI040499 core:FurnitureFittingsToolsEquipment 2024-03-31 NI040499 bus:SmallEntities 2023-04-01 2024-03-31 NI040499 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 NI040499 bus:FilletedAccounts 2023-04-01 2024-03-31 NI040499 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 NI040499 bus:RegisteredOffice 2023-04-01 2024-03-31 NI040499 bus:Director1 2023-04-01 2024-03-31 NI040499 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 NI040499 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 NI040499 core:Goodwill 2023-04-01 2024-03-31 NI040499 core:FurnitureFittings 2023-04-01 2024-03-31 NI040499 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 NI040499 core:PlantMachinery 2023-04-01 2024-03-31 NI040499 countries:NorthernIreland 2023-04-01 2024-03-31 NI040499 2023-03-31 NI040499 core:Goodwill 2023-03-31 NI040499 core:FurnitureFittingsToolsEquipment 2023-03-31 NI040499 2022-04-01 2023-03-31 NI040499 2023-03-31 NI040499 bus:OrdinaryShareClass1 2023-03-31 NI040499 core:CurrentFinancialInstruments 2023-03-31 NI040499 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 NI040499 core:FurnitureFittingsToolsEquipment 2023-03-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: NI040499

Homes Independent Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Homes Independent Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Homes Independent Limited

(Registration number: NI040499)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

5,901

6,779

Current assets

 

Debtors

6

53,734

94,935

Cash at bank and in hand

 

23,252

57,427

 

76,986

152,362

Creditors: Amounts falling due within one year

7

(33,435)

(32,161)

Net current assets

 

43,551

120,201

Total assets less current liabilities

 

49,452

126,980

Provisions for liabilities

(1,121)

(1,288)

Net assets

 

48,331

125,692

Capital and reserves

 

Called up share capital

8

6

6

Retained earnings

48,325

125,686

Shareholders' funds

 

48,331

125,692

For the financial 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.

Directors' 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 directors acknowledge their 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 April 2025 and signed on its behalf by:
 

.........................................
Mr John Cupples
Director

 

Homes Independent Limited

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

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
29-31 Mill Street
Ballymena
Co Antrim
BT43 5AA

These financial statements were authorised for issue by the Board on 10 April 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

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.

Government grants

Government grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Any grant which becomes receivable as compensation for expenses or losses already incurred or for the urpose of giving immediate financial support to the company with no future related costs shall be recognised in income in the period in which it becomes receivable.

Tax

The tax expense for the period comprises deferred 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.

 

Homes Independent Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Plant and machinery

20% reducing balance basis

Fixtures and fittings

20% reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5% straight line

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. 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.

 

Homes Independent Limited

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

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.

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.

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 directors) during the year, was 8 (2023 - 8).

 

Homes Independent Limited

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

66,254

66,254

At 31 March 2024

66,254

66,254

Amortisation

At 1 April 2023

66,254

66,254

At 31 March 2024

66,254

66,254

Carrying amount

At 31 March 2024

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

73,475

73,475

Additions

598

598

At 31 March 2024

74,073

74,073

Depreciation

At 1 April 2023

66,696

66,696

Charge for the year

1,476

1,476

At 31 March 2024

68,172

68,172

Carrying amount

At 31 March 2024

5,901

5,901

At 31 March 2023

6,779

6,779

 

Homes Independent Limited

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

6

Debtors

Current

2024
£

2023
£

Trade debtors

27,004

19,205

Other debtors

26,730

75,730

 

53,734

94,935

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

3,931

2,357

Taxation and social security

22,055

19,322

Accruals and deferred income

2,870

2,025

Other creditors

4,579

8,457

33,435

32,161

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share of £1 each

6

6

6

6