2023-09-012024-08-312024-08-31false10333305HOMEWARE HUT 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HOMEWARE HUT LIMITED

Registered Number
10333305
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

HOMEWARE HUT LIMITED
Company Information
for the year from 1 September 2023 to 31 August 2024

Director

SIPPLE, Jamal

Registered Address

Suite 312 Atlas House Caxton Close
Wigan
WN3 6XU

Registered Number

10333305 (England and Wales)
HOMEWARE HUT LIMITED
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets36,1185,168
6,1185,168
Current assets
Stocks492,15444,533
Debtors30,39530,510
Cash at bank and on hand15,22449,150
137,773124,193
Creditors amounts falling due within one year5(47,984)(31,394)
Net current assets (liabilities)89,78992,799
Total assets less current liabilities95,90797,967
Net assets95,90797,967
Capital and reserves
Called up share capital11
Profit and loss account95,90697,966
Shareholders' funds95,90797,967
The financial statements were approved and authorised for issue by the Director on 5 May 2025, and are signed on its behalf by:
SIPPLE, Jamal
Director
Registered Company No. 10333305
HOMEWARE HUT LIMITED
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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).
Revenue from sale of goods
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.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery3
Office Equipment2
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 September 233,7931272,8866,806
Additions3,9997204645,183
At 31 August 247,7928473,35011,989
Depreciation and impairment
At 01 September 231,423-2151,638
Charge for year2,1231022,0084,233
At 31 August 243,5461022,2235,871
Net book value
At 31 August 244,2467451,1276,118
At 31 August 232,3701272,6715,168
4.Stocks

2024

2023

££
Finished goods92,15444,533
Total92,15444,533
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables12,61117,195
Taxation and social security5,18314,199
Other creditors30,190-
Total47,98431,394
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.