Company registration number 07309351 (England and Wales)
HOME PRESERVATION HW LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
HOME PRESERVATION HW LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
HOME PRESERVATION HW LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
303,068
265,532
Investment property
4
1,536,430
1,345,299
1,839,498
1,610,831
Current assets
Stocks
38,248
103,108
Debtors
5
3,561
115,517
Cash at bank and in hand
678,475
351,760
720,284
570,385
Creditors: amounts falling due within one year
Loans and overdrafts
14,040
15,257
Taxation and social security
132,120
117,467
Other creditors
6
79,855
38,425
226,015
171,149
Net current assets
494,269
399,236
Total assets less current liabilities
2,333,767
2,010,067
Provisions for liabilities
(89,036)
(81,256)
Net assets
2,244,731
1,928,811
Capital and reserves
Called up share capital
212
212
Share premium account
11,470
11,470
Revaluation reserve
242,618
242,618
Capital redemption reserve
495
495
Profit and loss reserves
1,989,936
1,674,016
Total equity
2,244,731
1,928,811
HOME PRESERVATION HW LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 2 -
For the financial year ended 31 March 2025 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 of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 21 August 2025 and are signed on its behalf by:
Mrs F White
Director
Company registration number 07309351 (England and Wales)
HOME PRESERVATION HW LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information
Home Preservation HW Limited is a private company limited by shares incorporated in England and Wales. The registered office is 67 Verney Avenue, High Wycombe, Buckinghamshire, HP12 3ND.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
2% on cost
Plant and equipment
20% on cost
Motor vehicles
25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.5
Impairment of fixed assets
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
HOME PRESERVATION HW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
1.6
Stocks
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 items. Work in progress includes the cost of raw materials and labour plus attributable overheads based on a normal level of activity.
1.7
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
HOME PRESERVATION HW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
3
3
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2024
300,000
16,381
67,299
383,680
Additions
6,153
43,842
49,995
Disposals
(19,066)
(19,066)
At 31 March 2025
300,000
22,534
92,075
414,609
Depreciation and impairment
At 1 April 2024
36,000
14,849
67,299
118,148
Depreciation charged in the year
6,000
979
5,480
12,459
Eliminated in respect of disposals
(19,066)
(19,066)
At 31 March 2025
42,000
15,828
53,713
111,541
Carrying amount
At 31 March 2025
258,000
6,706
38,362
303,068
At 31 March 2024
264,000
1,532
265,532
4
Investment property
2025
£
Fair value
At 1 April 2024
1,345,300
Additions
191,130
At 31 March 2025
1,536,430
HOME PRESERVATION HW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
4
Investment property
(Continued)
- 6 -
Investment properties are shown at fair value as required by FRS102. The valuation has been determined by the directors who believe that £1,536,429 (2024:£1,345,300) represents the fair value of the investment properties held at the balance sheet date. The valuation was made on an open market value basis by the reference to market evidence of transaction prices for similar properties.
On a historical cost basis the investment properties would have been included at an original cost of £1,021,808 (2024: £1,345,300). No depreciation has been charged on the properties.
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
3,561
115,517
6
Other creditors falling due within one year
2025
2024
£
£
Trade creditors
39,468
26,616
Other creditors
8,964
6,809
Accruals and deferred income
31,423
5,000
79,855
38,425
7
Operating lease commitments
As lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2025
2024
£
£
Total commitments
2,692
6,643