Company Registration No. 14647411 (England and Wales)
Homestore Direct Ltd
Unaudited accounts
for the period from 29 February 2024 to 28 February 2025
Homestore Direct Ltd
Statement of financial position
as at 28 February 2025
Tangible assets
16,893
8,455
Cash at bank and in hand
63,969
47,329
Creditors: amounts falling due within one year
(134,193)
(58,862)
Net current liabilities
(14,334)
(5,958)
Total assets less current liabilities
2,559
2,497
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
559
2,397
Shareholders' funds
659
2,497
For the period ending 28 February 2025 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.
The members have agreed to the preparation of abridged accounts for the period in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 4 April 2025 and were signed on its behalf by
Mohammed Shabaan Latif
Director
Company Registration No. 14647411
Homestore Direct Ltd
Notes to the Accounts
for the period from 29 February 2024 to 28 February 2025
Homestore Direct Ltd is a private company, limited by shares, registered in England and Wales, registration number 14647411. The registered office is Titan Business Centre 920 Bradford Road, Birstall, Batley, WF17 9PH, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on reducing balance
Fixtures & fittings
20% on reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The directors have carried out a detailed review of the company's resources and projected income streams. They are confident that the company has sufficient cash flows to meet its liabilities as they fall due for at least one year from the date of approval of the financial statements. Therefore, the company continues to adopt the going concern basis in preparing the financial statements.
Homestore Direct Ltd
Notes to the Accounts
for the period from 29 February 2024 to 28 February 2025
4
Tangible fixed assets
Total
At 29 February 2024
11,040
At 28 February 2025
25,110
Charge for the period
5,632
At 28 February 2025
16,893
5
Deferred taxation
2025
2024
Accelerated capital allowances
1,900
-
Charged to the profit and loss account
1,900
-
Provision at end of period
1,900
-
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
7
Average number of employees
During the period the average number of employees was 3 (2024: 1).