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Registration number: 07806341

Home Estate Agents of Leigh Limited

Report of the Directors and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Home Estate Agents of Leigh Limited

Contents of The Financial Statements
for the Year Ended 30 September 2024

 

Company Information

1

Accountants' Report

2 to 3

Balance Sheet

4 to 5

Statement of Changes in Equity

6

Notes to the Unaudited Financial Statements

7 to 14

 

Home Estate Agents of Leigh Limited

Company Information
for the Year Ended 30 September 2024

Directors

Mr Anthony James Decarte Kelly

Mrs Susan Claire Kelly

Registered office

10 Towerfield Road
Shoeburyness
Essex
SS3 9QE

Accountants

Insight Strategic Associates
Chartered Certified Accountants10 Towerfield Road
Shoeburyness
Essex
SS3 9QE

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Home Estate Agents of Leigh Limited
for the Year Ended 30 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Home Estate Agents of Leigh Limited for the year ended 30 September 2024 as set out on pages 4 to 14 from the company's accounting records and from information and explanations you have given us.
 

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.
 

This report is made solely to the Board of Directors of Home Estate Agents of Leigh Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Home Estate Agents of Leigh Limited and state those matters that we have agreed to state to the Board of Directors of Home Estate Agents of Leigh Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources- search /2009/october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Home Estate Agents of Leigh Limited and its Board of Directors as a body for our work or for this report.
 

It is your duty to ensure that Home Estate Agents of Leigh Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Home Estate Agents of Leigh Limited. You consider that Home Estate Agents of Leigh Limited is exempt from the statutory audit requirement for the year.
 

We have not been instructed to carry out an audit or a review of the accounts of Home Estate Agents of Leigh Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Home Estate Agents of Leigh Limited
for the Year Ended 30 September 2024

......................................

Insight Strategic Associates
Chartered Certified Accountants

10 Towerfield Road
Shoeburyness
Essex
SS3 9QE

25 June 2025

 

Home Estate Agents of Leigh Limited

(Registration number: 07806341 )
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

35,592

44,631

Current assets

 

Debtors

6

254,307

317,643

Cash at bank and in hand

 

123,624

127,788

 

377,931

445,431

Creditors: Amounts falling due within one year

7

(335,017)

(316,908)

Net current assets

 

42,914

128,523

Total assets less current liabilities

 

78,506

173,154

Creditors: Amounts falling due after more than one year

7

(34,325)

(85,426)

Provisions for liabilities

(2,600)

(2,818)

Net assets

 

41,581

84,910

Capital and reserves

 

Called up share capital

200

200

Retained earnings

41,381

84,710

Shareholders' funds

 

41,581

84,910

For the financial year ending 30 September 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 25 June 2025 and signed on its behalf by:
 

 

Home Estate Agents of Leigh Limited

(Registration number: 07806341 )
Balance Sheet as at 30 September 2024

.........................................
Mr Anthony James Decarte Kelly
Director

 

Home Estate Agents of Leigh Limited

Statement of Changes in Equity for the Year Ended 30 September 2024

Share capital
£

Retained earnings
£

Total
£

At 1 October 2023

200

84,710

84,910

Profit for the year

-

31,671

31,671

Dividends

-

(75,000)

(75,000)

At 30 September 2024

200

41,381

41,581

Share capital
£

Retained earnings
£

Total
£

At 1 October 2022

200

78,695

78,895

Profit for the year

-

56,015

56,015

Dividends

-

(50,000)

(50,000)

At 30 September 2023

200

84,710

84,910

 

Home Estate Agents of Leigh Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
10 Towerfield Road
Shoeburyness
Essex
SS3 9QE
England

These financial statements were authorised for issue by the Board on 25 June 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.

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.

 

Home Estate Agents of Leigh Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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

Fixtures and fittings

25% straight line

Office equipment

25% straight line

 

Home Estate Agents of Leigh Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

2

Accounting policies (continued)

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

10% 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. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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.

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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Home Estate Agents of Leigh Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

 

Home Estate Agents of Leigh Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 23 (2023 - 29).

 

Home Estate Agents of Leigh Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2023

30,000

30,000

At 30 September 2024

30,000

30,000

Amortisation

At 1 October 2023

30,000

30,000

At 30 September 2024

30,000

30,000

Carrying amount

At 30 September 2024

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2023

59,979

73,228

133,207

Additions

5,553

-

5,553

At 30 September 2024

65,532

73,228

138,760

Depreciation

At 1 October 2023

46,241

42,335

88,576

Charge for the year

6,869

7,723

14,592

At 30 September 2024

53,110

50,058

103,168

Carrying amount

At 30 September 2024

12,422

23,170

35,592

At 30 September 2023

13,738

30,893

44,631

 

Home Estate Agents of Leigh Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

37,557

90,393

Other debtors

216,750

227,250

 

254,307

317,643

 

Home Estate Agents of Leigh Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

65,448

55,882

Trade creditors

 

19,516

20,864

Taxation and social security

 

140,713

172,400

Accruals and deferred income

 

3,101

3,027

Other creditors

 

106,239

64,735

 

335,017

316,908

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

34,325

85,426

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

34,325

85,426

Current loans and borrowings

2024
£

2023
£

Bank borrowings

48,214

55,714

Bank overdrafts

17,234

168

65,448

55,882