Registration number:
Home Harvest Ltd
for the Year Ended 31 March 2025
Home Harvest Ltd
Contents
|
Company Information |
|
|
Balance Sheet |
|
|
Notes to the Unaudited Financial Statements |
Home Harvest Ltd
Company Information
|
Directors |
Mr Andrew Stephen Johnson Mr Hedley James Roger Aylott |
|
Registered office |
|
|
Bankers |
|
|
Accountants |
|
Home Harvest Ltd
(Registration number: 12421225)
Balance Sheet as at 31 March 2025
|
Note |
2025 |
2024 |
|
|
Current assets |
|||
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Total assets less current liabilities |
( |
( |
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Net liabilities |
( |
( |
|
|
Capital and reserves |
|||
|
Called up share capital |
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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
Home Harvest Ltd
(Registration number: 12421225)
Balance Sheet as at 31 March 2025
|
......................................... |
|
......................................... |
Home Harvest Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
|
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
|
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
|
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
|
Debtors |
|
Current |
2025 |
2024 |
|
Other debtors |
|
|
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
|
Note |
2025 |
2024 |
|
|
Due within one year |
|||
|
Loans and borrowings |
|
|
|
|
Trade creditors |
|
|
|
|
Taxation and social security |
- |
|
|
|
Accruals and deferred income |
|
- |
|
|
Other creditors |
|
- |
|
|
|
|
Creditors: amounts falling due after more than one year
|
Note |
2025 |
2024 |
|
|
Due after one year |
|||
|
Loans and borrowings |
|
|
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
118 |
|
118 |
Home Harvest Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
|
Loans and borrowings |
Non-current loans and borrowings
|
2025 |
2024 |
|
|
Bank borrowings |
|
|
Current loans and borrowings
|
2025 |
2024 |
|
|
Bank borrowings |
|
- |
|
Other borrowings |
|
|
|
|
|
|
Bank borrowings
|
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
|
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 |
|
|
|
Repaid |
( |
( |
|
At end of period |
- |
- |
|
|
||
|
2024 |
Key management |
Total |
|
Advanced |
|
|
|
At end of period |
|
|
|
|
||
Terms of loans to related parties
Loans from related parties
|
2025 |
Key management |
Total |
|
At start of period |
|
|
|
Advanced |
|
|
|
At end of period |
|
|
|
|
||
|
2024 |
Key management |
Total |
|
At start of period |
|
|
|
Repaid |
( |
( |
|
At end of period |
|
|
|
|
||
Home Harvest Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
Terms of loans from related parties