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Registered number: 01322169
Home and Trade Limited
Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: 01322169
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,367,012 1,340,000
Investments 5 1 1
1,367,013 1,340,001
CURRENT ASSETS
Stocks 6 1,499,861 1,053,274
Debtors 7 293,086 277,323
Cash at bank and in hand 3,201 19,975
1,796,148 1,350,572
Creditors: Amounts Falling Due Within One Year 8 (1,211,659 ) (982,878 )
NET CURRENT ASSETS (LIABILITIES) 584,489 367,694
TOTAL ASSETS LESS CURRENT LIABILITIES 1,951,502 1,707,695
NET ASSETS 1,951,502 1,707,695
CAPITAL AND RESERVES
Called up share capital 9 10,000 10,000
Profit and Loss Account 1,941,502 1,697,695
SHAREHOLDERS' FUNDS 1,951,502 1,707,695
For the year ending 31 December 2024 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr N Lander
Director
23 July 2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Home and Trade Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01322169 . The registered office is Electric Street, Off Wetmore Road, Burton On Trent, Staffs, DE14 1RQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Freehold Not Depreciated
Plant & Machinery 25% RB
Motor Vehicles 25% RB
Fixtures & Fittings 25% RB
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.
Page 2
Page 3
2.6. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 16 (2023: 16)
16 16
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 January 2024 1,340,000 89,803 149,898 71,037 1,650,738
Additions - 36,016 - - 36,016
As at 31 December 2024 1,340,000 125,819 149,898 71,037 1,686,754
Depreciation
As at 1 January 2024 - 89,803 149,898 71,037 310,738
Provided during the period - 9,004 - - 9,004
As at 31 December 2024 - 98,807 149,898 71,037 319,742
Net Book Value
As at 31 December 2024 1,340,000 27,012 - - 1,367,012
As at 1 January 2024 1,340,000 - - - 1,340,000
5. Investments
Unlisted
£
Cost
As at 1 January 2024 750
As at 31 December 2024 750
Provision
As at 1 January 2024 749
As at 31 December 2024 749
Net Book Value
As at 31 December 2024 1
As at 1 January 2024 1
Page 3
Page 4
6. Stocks
2024 2023
£ £
Stock 1,499,861 1,274
Finished goods - 1,052,000
1,499,861 1,053,274
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 290,869 236,185
Other debtors 2,217 41,138
293,086 277,323
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 491,543 557,266
Other creditors 612,162 408,355
Taxation and social security 107,954 17,257
1,211,659 982,878
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10,000 10,000
Page 4