Direct Housing Ltd 04591656 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is Other letting and operating of own or leased real estate and management of real estate on a fee or contract basis Digita Accounts Production Advanced 6.30.9574.0 true 04591656 2023-10-01 2024-09-30 04591656 2024-09-30 04591656 core:CurrentFinancialInstruments 2024-09-30 04591656 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 04591656 core:FurnitureFittingsToolsEquipment 2024-09-30 04591656 bus:SmallEntities 2023-10-01 2024-09-30 04591656 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 04591656 bus:FilletedAccounts 2023-10-01 2024-09-30 04591656 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 04591656 bus:RegisteredOffice 2023-10-01 2024-09-30 04591656 bus:Director1 2023-10-01 2024-09-30 04591656 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 04591656 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 04591656 core:OfficeEquipment 2023-10-01 2024-09-30 04591656 countries:EnglandWales 2023-10-01 2024-09-30 04591656 2023-09-30 04591656 core:FurnitureFittingsToolsEquipment 2023-09-30 04591656 2022-10-01 2023-09-30 04591656 2023-09-30 04591656 core:CurrentFinancialInstruments 2023-09-30 04591656 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 04591656 core:FurnitureFittingsToolsEquipment 2023-09-30 iso4217:GBP xbrli:pure

Registration number: 04591656

Prepared for the registrar

Direct Housing Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Direct Housing Ltd

(Registration number: 04591656)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

1,923

Current assets

 

Debtors

5

99,238

64,167

Cash at bank and in hand

 

543,654

440,511

 

642,892

504,678

Creditors: Amounts falling due within one year

6

(601,197)

(459,632)

Net current assets

 

41,695

45,046

Net assets

 

41,695

46,969

Capital and reserves

 

Called up share capital

1

1

Retained earnings

41,694

46,968

Shareholders' funds

 

41,695

46,969

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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 June 2025 and signed on its behalf by:
 


D K Basra
Director

 

Direct Housing Ltd

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:
543 Bristol Road
Selly Oak
Birmingham
West Midlands
B29 6AU

 

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 for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

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 and after eliminating sales within the company.

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.

Tax

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.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Office equipment

25% Straight Line method

 

Direct Housing Ltd

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

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. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. 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 debtors.

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 all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

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.

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.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 

Direct Housing Ltd

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


Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.


Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

 

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost

At 1 October 2023

32,026

32,026

At 30 September 2024

32,026

32,026

Depreciation

At 1 October 2023

30,103

30,103

Charge for the year

1,923

1,923

At 30 September 2024

32,026

32,026

Carrying amount

At 30 September 2024

-

-

At 30 September 2023

1,923

1,923

 

5

Debtors

2024
£

2023
£

Trade debtors

21,035

-

Receivables from related parties

-

37,806

Prepayments

24,844

24,761

Other debtors

53,359

1,600

99,238

64,167

 

Direct Housing Ltd

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

 

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

-

7,358

Trade creditors

 

3,352

-

Taxation and social security

 

19,342

37,910

Accruals and deferred income

 

9,717

9,426

Other creditors

 

568,786

404,938

 

601,197

459,632

 

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

-

7,358

 

8

Related party transactions

At 30 September 2024, the company was owed £nil from the director (2023: £7,358 owed to).