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Registration number: 12421225

Home Harvest Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Home Harvest Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Home Harvest Ltd

Company Information

Directors

Mr Andrew Stephen Johnson

Mr Hedley James Roger Aylott

Registered office

High Bank House
King Street
Sancton
York
East Yorkshire
YO43 4QP

Bankers

Starling Bank
3rd Floor
2 Finsbury Avenue
London
EC2M 2PP

Accountants

Flexibility Professional Services (UK) Ltd Cherry Tree Court
36 Ferensway
Hull
East Yorkshire
HU2 8NH

 

Home Harvest Ltd

(Registration number: 12421225)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Current assets

 

Debtors

4

129,073

13,000

Cash at bank and in hand

 

6,002

1,608

 

135,075

14,608

Creditors: Amounts falling due within one year

5

(470,920)

(24,248)

Total assets less current liabilities

 

(335,845)

(9,640)

Creditors: Amounts falling due after more than one year

5

(41,504)

(49,440)

Net liabilities

 

(377,349)

(59,080)

Capital and reserves

 

Called up share capital

6

118

118

Share premium reserve

12,982

12,982

Retained earnings

(390,449)

(72,180)

Shareholders' deficit

 

(377,349)

(59,080)

For the financial year ending 31 March 2025 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 23 July 2025 and signed on its behalf by:
 

 

Home Harvest Ltd

(Registration number: 12421225)
Balance Sheet as at 31 March 2025

.........................................
Mr Andrew Stephen Johnson
Director

.........................................
Mr Hedley James Roger Aylott
Director

 

Home Harvest Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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:
High Bank House
King Street
Sancton
York
East Yorkshire
YO43 4QP
United Kingdom

These financial statements were authorised for issue by the Board on 23 July 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.

Going concern

The financial statements have been prepared on a going concern basis.

Adjusting events after the financial period

As at the balance sheet date, the company had received £225,000 in respect of subscriptions for shares. These funds are held pending the formal issue of shares and have therefore been included in creditors. The shares are to be issued after the year end.

Government grants

Government grants are charged to the Profit and Loss account on accrual basis unless they are connected to an asset purchase in which case they amortised over the life of the asset. Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the Statement of comprehensive income at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 

Home Harvest Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tax

The tax expense for the period comprises current 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.

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.

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.

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.

 

Home Harvest Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

4

Debtors

Current

2025
£

2024
£

Other debtors

129,073

13,000

 

129,073

13,000

5

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

7

52,429

23,922

Trade creditors

 

182,291

105

Taxation and social security

 

-

221

Accruals and deferred income

 

11,200

-

Other creditors

 

225,000

-

 

470,920

24,248

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

7

41,504

49,440

6

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary £1 of £1 each

118

118

118

118

       
 

Home Harvest Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

41,504

49,440

Current loans and borrowings

2025
£

2024
£

Bank borrowings

6,333

-

Other borrowings

46,096

23,922

52,429

23,922

Bank borrowings

Starling Bank is denominated in GBP with a nominal interest rate of 2.5%, and the final instalment is due on 31 October 2032. The carrying amount at year end is £47,837 (2024 - £49,440).

Unsecured loan with personal guarantees under the Bounce Back Loan Scheme. Repayments are deferred and interest paid by the UK government in the first 12 months. A repayment holiday has been requested under the Pay As You Grow options.

 

Home Harvest Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

8

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2025
£

2024
£

Loans to related parties

2025

Key management
£

Total
£

At start of period

13,000

13,000

Repaid

(13,000)

(13,000)

At end of period

-

-

2024

Key management
£

Total
£

Advanced

13,000

13,000

At end of period

13,000

13,000

Terms of loans to related parties

Unsecured loan with no repayment terms or interest provided by the company to H J R Aylott. This loan was discharged in full by 31st December 2024.
 

Loans from related parties

2025

Key management
£

Total
£

At start of period

23,922

23,922

Advanced

22,174

22,174

At end of period

46,096

46,096

2024

Key management
£

Total
£

At start of period

25,941

25,941

Repaid

(2,019)

(2,019)

At end of period

23,922

23,922

 

Home Harvest Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Terms of loans from related parties

Unsecured loan with no repayment terms or interest provided to the company by A S Johnson.