IRIS Accounts Production v25.1.3.33 07640835 Board of Directors 1.11.23 31.10.24 31.10.24 Medium entities Wholesale of household furniture. true false true true false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Ordinary 1.00000 784876 784876 76196 112750 76196 112750 784876 784876 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh076408352023-10-31076408352024-10-31076408352023-11-012024-10-31076408352022-10-31076408352022-11-012023-10-31076408352023-10-3107640835ns15:EnglandWales2023-11-012024-10-3107640835ns14:PoundSterling2023-11-012024-10-3107640835ns10:Director12023-11-012024-10-3107640835ns10:PrivateLimitedCompanyLtd2023-11-012024-10-3107640835ns10:MediumEntities2023-11-012024-10-3107640835ns10:Audited2023-11-012024-10-3107640835ns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-11-012024-10-3107640835ns10:Medium-sizedCompaniesRegimeForAccounts2023-11-012024-10-3107640835ns10:FullAccounts2023-11-012024-10-3107640835ns10:OrdinaryShareClass12023-11-012024-10-3107640835ns10:Director1412023-10-3107640835ns10:Director1412022-10-3107640835ns10:Director1412023-11-012024-10-3107640835ns10:Director1412022-11-012023-10-3107640835ns10:Director1412024-10-3107640835ns10:Director1412023-10-3107640835ns10:Director22023-11-012024-10-3107640835ns10:Director32023-11-012024-10-3107640835ns10:Director42023-11-012024-10-3107640835ns10:RegisteredOffice2023-11-012024-10-3107640835ns5:CurrentFinancialInstruments2024-10-3107640835ns5:CurrentFinancialInstruments2023-10-3107640835ns5:ShareCapital2024-10-3107640835ns5:ShareCapital2023-10-3107640835ns5:RetainedEarningsAccumulatedLosses2024-10-3107640835ns5:RetainedEarningsAccumulatedLosses2023-10-3107640835ns5:ShareCapital2022-10-3107640835ns5:RetainedEarningsAccumulatedLosses2022-10-3107640835ns5:RetainedEarningsAccumulatedLosses2022-11-012023-10-3107640835ns5:RetainedEarningsAccumulatedLosses2023-11-012024-10-310764083512023-11-012024-10-3107640835ns5:ReportableOperatingSegment12023-11-012024-10-3107640835ns5:ReportableOperatingSegment12022-11-012023-10-3107640835ns5:TotalReportableOperatingSegmentsIncludingAnyUnallocatedAmount2023-11-012024-10-3107640835ns5:TotalReportableOperatingSegmentsIncludingAnyUnallocatedAmount2022-11-012023-10-3107640835ns15:UnitedKingdom2023-11-012024-10-3107640835ns15:UnitedKingdom2022-11-012023-10-3107640835ns15:Europe2023-11-012024-10-3107640835ns15:Europe2022-11-012023-10-3107640835ns5:TotalGeographicSegmentsIncludingAnyUnallocatedAmount2023-11-012024-10-3107640835ns5:TotalGeographicSegmentsIncludingAnyUnallocatedAmount2022-11-012023-10-3107640835ns5:OwnedAssets2023-11-012024-10-3107640835ns5:OwnedAssets2022-11-012023-10-310764083512023-11-012024-10-310764083512022-11-012023-10-310764083522023-11-012024-10-310764083522022-11-012023-10-3107640835132023-11-012024-10-3107640835132022-11-012023-10-3107640835ns10:OrdinaryShareClass12022-11-012023-10-3107640835ns5:LandBuildingsns5:ShortLeaseholdAssets2023-10-3107640835ns5:FurnitureFittings2023-10-3107640835ns5:ComputerEquipment2023-10-3107640835ns5:LandBuildingsns5:ShortLeaseholdAssets2023-11-012024-10-3107640835ns5:FurnitureFittings2023-11-012024-10-3107640835ns5:ComputerEquipment2023-11-012024-10-3107640835ns5:LandBuildingsns5:ShortLeaseholdAssets2024-10-3107640835ns5:FurnitureFittings2024-10-3107640835ns5:ComputerEquipment2024-10-3107640835ns5:LandBuildingsns5:ShortLeaseholdAssets2023-10-3107640835ns5:FurnitureFittings2023-10-3107640835ns5:ComputerEquipment2023-10-3107640835ns5:WithinOneYearns5:CurrentFinancialInstruments2024-10-3107640835ns5:WithinOneYearns5:CurrentFinancialInstruments2023-10-3107640835ns5:Non-currentFinancialInstruments2024-10-3107640835ns5:Non-currentFinancialInstruments2023-10-3107640835ns5:DeferredTaxation2023-10-3107640835ns5:DeferredTaxation2023-11-012024-10-3107640835ns5:DeferredTaxation2024-10-3107640835ns10:OrdinaryShareClass12024-10-3107640835ns5:RetainedEarningsAccumulatedLosses2023-10-3107640835ns10:Director222023-10-3107640835ns10:Director222022-10-3107640835ns10:Director222023-11-012024-10-3107640835ns10:Director222022-11-012023-10-3107640835ns10:Director222024-10-3107640835ns10:Director222023-10-31
REGISTERED NUMBER: 07640835 (England and Wales)















Strategic Report, Directors' Report and

Audited Financial Statements for the Year Ended 31 October 2024

for

Home Discount Limited

Home Discount Limited (Registered number: 07640835)

Contents of the Financial Statements
for the Year Ended 31 October 2024










Page

Company Information 1

Strategic Report 2

Directors' Report 5

Report of the Independent Auditors 7

Income Statement 11

Other Comprehensive Income 12

Balance Sheet 13

Statement of Changes in Equity 15

Cash Flow Statement 16

Notes to the Cash Flow Statement 17

Notes to the Financial Statements 19


Home Discount Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: Mr Suresh Handa
Mrs Rakhi Handa
Mr Rajesh Handa
Mrs Mandeep Kaur Handa





REGISTERED OFFICE: Home Discount
Dawson Lane
Bradford
BD4 6HN





REGISTERED NUMBER: 07640835 (England and Wales)





AUDITORS: Accumen Business Consultancy Limited
Coventry University Technology Park
Puma Way
Coventry
CV1 2TT

Home Discount Limited (Registered number: 07640835)

Strategic Report
for the Year Ended 31 October 2024


The directors present their strategic report for the year ended 31 October 2024.


Home Discount Limited (Registered number: 07640835)

Strategic Report
for the Year Ended 31 October 2024

REVIEW OF BUSINESS
The principal activity of the company in the year under review was that of selling furniture to wholesales and consumers via several online channels

Turnover was strong with a £5.2m yearly increase to £21.1m (£15.9m for 2023) with a full rationalisation and enhancement of the existing business channels along with developing new channels.

Trading conditions remained challenging in the year with a price conscious consumer along with higher container charges and courier costs. The company has absorbed most of the increases by working closely with our suppliers with profits increasing towards end of the year with market conditions changing.

With turnover increasing in the year our current operating processes and systems are constantly reviewed and developed to match the operational needs of the business. The introduction of new items and product variations of the existing lines has resulted in stronger sales.

The directors are satisfied with a strong set of financial results with the company performing well in the sector and believe the company is in the right position to maximise on its future opportunities.

Key Financial Performance Indicators

The company's key financial and other performance indicators during the year were as follows:

2024 2023
Turnover £21,146,957 £15,949,631
Operating profit £1,750,038 £1,223,598
Profit after tax £1,327,336 £957,494
Shareholder's equity £5,983,449 £4,932,309
Current asset as % of Current liability(Quick ratio) 373% 365%

Movement in performance
During the period the company has benefitted from increased gross profit margins due to a change in the product mix along with strict procurement procedures to ensure desirable and in demand products are sought. Strict control on overheads is exercised to ensure profitability is maintained.

Non Financial Performance Indicators
The Management of Human Resources:
Directors have regular meetings with key management employees to ensure any issues relating to staff are resolved as a priority. This has helped to have low level of staff turnover and increased efficiency.

Product and Service Price/Quality:
Company ensures that products sold are of good quality standards and sought after.

Brand Awareness:
Company has been opening several new sales channels and are expanding their presence overseas.

Home Discount Limited (Registered number: 07640835)

Strategic Report
for the Year Ended 31 October 2024


PRINCIPAL RISKS AND UNCERTAINTIES
The directors hold regular meetings to evaluate the company's risk management process. Full due diligence is carried out on customers and suppliers to ensure compliance with relevant legislation and to have a better understanding of their needs.

ON BEHALF OF THE BOARD:





Mr Rajesh Handa - Director


14 July 2025

Home Discount Limited (Registered number: 07640835)

Directors' Report
for the Year Ended 31 October 2024


The directors present their report with the financial statements of the company for the year ended 31 October 2024.

DIVIDENDS
The total distribution of dividends for the year ended 31 October 2024 is £276,196.

FUTURE DEVELOPMENTS
The directors are continuing to look at new and innovative products to add to the businesses product line, along with opening new sales channels both in the UK and expanding to Europe.

The directors are considering the purchase of a new warehouse to facilitate the increased consumer demand both in the UK and in Europe.

RESEARCH AND DEVELOPMENT ACTIVITIES
There has been no Research and development activities undertaken during the period.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 November 2023 to the date of this report.

Mr Suresh Handa
Mrs Rakhi Handa
Mr Rajesh Handa
Mrs Mandeep Kaur Handa

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Home Discount Limited (Registered number: 07640835)

Directors' Report
for the Year Ended 31 October 2024


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Accumen Business Consultancy Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr Rajesh Handa - Director


14 July 2025

Report of the Independent Auditors to the Members of
Home Discount Limited


Opinion
We have audited the financial statements of Home Discount Limited (the 'company') for the year ended 31 October 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 October 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Report of the Independent Auditors to the Members of
Home Discount Limited


Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Directors' Report, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Home Discount Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the company and sector in which it operates;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, employment, environmental and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- assessed whether judgements and assumptions made in determining the accounting estimates set out in the Accounting Policies were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, relevant regulators and the company's legal advisors.


Report of the Independent Auditors to the Members of
Home Discount Limited

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Tejinder Saran (Senior Statutory Auditor)
for and on behalf of Accumen Business Consultancy Limited
Coventry University Technology Park
Puma Way
Coventry
CV1 2TT

14 July 2025

Home Discount Limited (Registered number: 07640835)

Income Statement
for the Year Ended 31 October 2024

31.10.24 31.10.23
Notes £    £   

TURNOVER 3 21,146,957 15,949,631

Cost of sales (18,072,267 ) (13,549,840 )
GROSS PROFIT 3,074,690 2,399,791

Administrative expenses (2,524,652 ) (2,376,193 )
550,038 23,598

Other operating income 1,200,000 1,200,000
OPERATING PROFIT 5 1,750,038 1,223,598

Interest receivable and similar income 28,738 24,028
1,778,776 1,247,626

Interest payable and similar expenses 7 (6,870 ) (10,407 )
PROFIT BEFORE TAXATION 1,771,906 1,237,219

Tax on profit 8 (444,570 ) (279,725 )
PROFIT FOR THE FINANCIAL YEAR 1,327,336 957,494

Home Discount Limited (Registered number: 07640835)

Other Comprehensive Income
for the Year Ended 31 October 2024

31.10.24 31.10.23
Notes £    £   

PROFIT FOR THE YEAR 1,327,336 957,494


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,327,336

957,494

Home Discount Limited (Registered number: 07640835)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £   
FIXED ASSETS
Tangible assets 10 82,031 80,719

CURRENT ASSETS
Debtors 11 5,089,994 3,547,970
Cash at bank and in hand 2,994,201 3,158,175
8,084,195 6,706,145
CREDITORS
Amounts falling due within one year 12 (2,166,121 ) (1,839,820 )
NET CURRENT ASSETS 5,918,074 4,866,325
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,000,105

4,947,044

PROVISIONS FOR LIABILITIES 13 (16,656 ) (14,735 )
NET ASSETS 5,983,449 4,932,309

CAPITAL AND RESERVES
Called up share capital 14 100 100
Retained earnings 15 5,983,349 4,932,209
SHAREHOLDERS' FUNDS 5,983,449 4,932,309

Home Discount Limited (Registered number: 07640835)

Balance Sheet - continued
31 October 2024


The financial statements were approved by the Board of Directors and authorised for issue on 14 July 2025 and were signed on its behalf by:





Mr Rajesh Handa - Director


Home Discount Limited (Registered number: 07640835)

Statement of Changes in Equity
for the Year Ended 31 October 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 November 2022 100 4,287,465 4,287,565

Changes in equity
Dividends - (312,750 ) (312,750 )
Total comprehensive income - 957,494 957,494
Balance at 31 October 2023 100 4,932,209 4,932,309

Changes in equity
Dividends - (276,196 ) (276,196 )
Total comprehensive income - 1,327,336 1,327,336
Balance at 31 October 2024 100 5,983,349 5,983,449

Home Discount Limited (Registered number: 07640835)

Cash Flow Statement
for the Year Ended 31 October 2024

31.10.24 31.10.23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 471,933 1,821,398
Interest paid (4,127 ) (5,510 )
Finance costs paid (2,743 ) (4,897 )
Tax paid (355,813 ) (654,292 )
Net cash from operating activities 109,250 1,156,699

Cash flows from investing activities
Purchase of tangible fixed assets (25,766 ) (10,232 )
Interest received 28,738 24,028
Net cash from investing activities 2,972 13,796

Cash flows from financing activities
Equity dividends paid (276,196 ) (312,750 )
Net cash from financing activities (276,196 ) (312,750 )

(Decrease)/increase in cash and cash equivalents (163,974 ) 857,745
Cash and cash equivalents at
beginning of year

2

3,158,175

2,300,430

Cash and cash equivalents at end
of year

2

2,994,201

3,158,175

Home Discount Limited (Registered number: 07640835)

Notes to the Cash Flow Statement
for the Year Ended 31 October 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

31.10.24 31.10.23
£    £   
Profit before taxation 1,771,906 1,237,219
Depreciation charges 24,455 23,526
Finance costs 6,870 10,407
Finance income (28,738 ) (24,028 )
1,774,493 1,247,124
Increase in trade and other debtors (1,542,025 ) (115,511 )
Increase in trade and other creditors 239,465 689,785
Cash generated from operations 471,933 1,821,398

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 October 2024
31.10.24 1.11.23
£    £   
Cash and cash equivalents 2,994,201 3,158,175
Year ended 31 October 2023
31.10.23 1.11.22
£    £   
Cash and cash equivalents 3,158,175 2,300,430


Home Discount Limited (Registered number: 07640835)

Notes to the Cash Flow Statement
for the Year Ended 31 October 2024


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.11.23 Cash flow At 31.10.24
£    £    £   
Net cash
Cash at bank and in hand 3,158,175 (163,974 ) 2,994,201
3,158,175 (163,974 ) 2,994,201
Total 3,158,175 (163,974 ) 2,994,201

Home Discount Limited (Registered number: 07640835)

Notes to the Financial Statements
for the Year Ended 31 October 2024


1. STATUTORY INFORMATION

Home Discount Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

LeaseholdOver the duration of the lease (5 years)
Fixtures & Fittings25% Reducing balance
Computer Equipment25% Reducing balance

Home Discount Limited (Registered number: 07640835)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party tothe contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, whenthere is a legally enforceable right to set off the recognised amounts and there is an intention to settle a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Home Discount Limited (Registered number: 07640835)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Presentation currency
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Home Discount Limited (Registered number: 07640835)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


2. ACCOUNTING POLICIES - continued

Leasing and hire purchase contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

31.10.24 31.10.23
£    £   
Online sale of household goods 21,146,957 15,949,631
21,146,957 15,949,631

An analysis of turnover by geographical market is given below:

31.10.24 31.10.23
£    £   
United Kingdom 19,192,883 15,406,499
Europe 1,954,074 543,132
21,146,957 15,949,631

4. EMPLOYEES AND DIRECTORS
31.10.24 31.10.23
£    £   
Wages and salaries 1,260,694 1,230,133
Social security costs 121,786 111,070
1,382,480 1,341,203

Home Discount Limited (Registered number: 07640835)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
31.10.24 31.10.23

Office and administration 35 38

31.10.24 31.10.23
£    £   
Directors' remuneration 69,209 65,334

5. OPERATING PROFIT

The operating profit is stated after charging:

31.10.24 31.10.23
£    £   
Depreciation - owned assets 24,454 23,526

6. AUDITORS' REMUNERATION
31.10.24 31.10.23
£    £   
Fees payable to the company's auditors for the audit of the
company's financial statements

5,850

5,700

7. INTEREST PAYABLE AND SIMILAR EXPENSES
31.10.24 31.10.23
£    £   
Corporation tax interest - 2,798
Bank charges 4,127 2,712
Foreign exchange charges 2,743 4,897
6,870 10,407

Home Discount Limited (Registered number: 07640835)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.10.24 31.10.23
£    £   
Current tax:
UK corporation tax 442,649 281,454

Deferred tax 1,921 (1,729 )
Tax on profit 444,570 279,725

UK corporation tax has been charged at 25% (2023 - 22.52%).

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.10.24 31.10.23
£    £   
Profit before tax 1,771,906 1,237,219
Profit multiplied by the standard rate of corporation tax in the
UK of 25% (2023 - 22.520%)

442,977

278,622

Effects of:
Expenses not deductible for tax purposes - 5,270
Capital allowances in excess of depreciation (328 ) (2,438 )
Deferred tax 1,921 (1,729 )
Total tax charge 444,570 279,725

9. DIVIDENDS
31.10.24 31.10.23
£    £   
Ordinary shares of £1 each
Interim 276,196 312,750

Home Discount Limited (Registered number: 07640835)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


10. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 November 2023 45,834 128,583 102,309 276,726
Additions - 3,229 22,537 25,766
At 31 October 2024 45,834 131,812 124,846 302,492
DEPRECIATION
At 1 November 2023 24,054 102,851 69,102 196,007
Charge for year 6,374 6,632 11,448 24,454
At 31 October 2024 30,428 109,483 80,550 220,461
NET BOOK VALUE
At 31 October 2024 15,406 22,329 44,296 82,031
At 31 October 2023 21,780 25,732 33,207 80,719

11. DEBTORS
31.10.24 31.10.23
£    £   
Amounts falling due within one year:
Trade debtors 1,274,774 842,401
Amounts owed by related party 2,658,880 1,535,680
Other debtors 7,669 19,624
Directors' current accounts 784,876 784,876
Prepayments and accrued income 107,593 109,187
4,833,792 3,291,768

Amounts falling due after more than one year:
Tax 256,202 256,202

Aggregate amounts 5,089,994 3,547,970

Home Discount Limited (Registered number: 07640835)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade creditors 260,249 211,535
Tax 442,649 355,813
Social security and other taxes 19,916 20,249
VAT 228,440 217,267
Amounts owed to related party 991,583 914,368
Accruals and deferred income 223,284 120,588
2,166,121 1,839,820

13. PROVISIONS FOR LIABILITIES
31.10.24 31.10.23
£    £   
Deferred tax 16,656 14,735

Deferred
tax
£   
Balance at 1 November 2023 14,735
Provided during year 1,921
Balance at 31 October 2024 16,656

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.24 31.10.23
value: £    £   
100 Ordinary £1 100 100

Home Discount Limited (Registered number: 07640835)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


15. RESERVES
Retained
earnings
£   

At 1 November 2023 4,932,209
Profit for the year 1,327,336
Dividends (276,196 )
At 31 October 2024 5,983,349

16. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2024 and 31 October 2023:

31.10.24 31.10.23
£    £   
Mr Suresh Handa and Mr Rajesh Handa
Balance outstanding at start of year 784,876 784,876
Amounts advanced 76,196 112,750
Amounts repaid (76,196 ) (112,750 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 784,876 784,876

17. RELATED PARTY DISCLOSURES

During the year ended 31 October 2024, the company had the following related party transactions:

Purchases from Lassic Limited - £10,191,070 (Year 2023 : £8,123,687)
Management charge to Lassic Limited - £1,200,000 (Year 2023 : £1,200,000)

The company charged provision of staff, utilities, shipping and courier costs to Lassic Limited.

At the year-end, the following balances were outstanding:

Lassic Ltd was owed £989,588 (2023 - £904,711)
Lassic Europe was owed £1,995 (2023 - £9,657)
Lassic Properties owed £2,658,880 (2023 - £1,535,680)

Messers Suresh and Rajesh Handa were also the directors of Lassic Limited as of 31 October 2024.

Home Discount Limited (Registered number: 07640835)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


18. ULTIMATE CONTROLLING PARTY

The company's ultimate controlling parties are Suresh Handa and Rajesh Handa by virtue of their ownership of 100% of the issued share capital in the company..