Homespares Limited
Registered number
SC201740
Filleted Accounts
31 January 2025

Homespares Limited
Registered number: | SC201740
Balance Sheet
as at 31 January 2025
Notes |  |  | 2025 |  |  | 2024
£ | £
Fixed assets
Tangible assets | 3 |  |  | 455,000 |  |  | 295,000
Investments | 4 |  |  | 277,500 |  |  | 277,500
|  |  |  | 732,500 |  |  | 572,500
Current assets
Debtors | 5 |  | 218,845 |  |  | 61,585
Investments held as current assets | 6 |  | 14,712 |  |  | 14,712
Cash at bank and in hand |  |  | 2,176 |  |  | 12,332
|  |  | 235,733 |  |  | 88,629
Creditors: amounts falling due within one year | 7 |  | (125,594) |  |  | (37,210)
Net current assets |  |  |  | 110,139 |  |  | 51,419
Total assets less current liabilities |  |  |  | 842,639 |  |  | 623,919
Creditors: amounts falling due after more than one year | 8 |  |  | (323,111) |  |  | (325,916)
Net assets |  |  |  | 519,528 |  |  | 298,003
Capital and reserves
Called up share capital |  |  |  | 100,000 |  |  | 100,000
Revaluation reserve | 10 |  |  | 160,000 |  |  | -
Profit and loss account |  |  |  | 259,528 |  |  | 198,003
Shareholders' funds |  |  |  | 519,528 |  |  | 298,003
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Sally Cameron
Director
Approved by the board on 9 October 2025

Homespares Limited
Notes to the Accounts
for the year ended 31 January 2025
1 | Accounting policies
| Basis of preparation
| The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
| 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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
| Tangible fixed assets
| Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
| Freehold buildings | over 50 years
| Leasehold land and buildings | over the lease term
| Plant and machinery | over 5 years
| Fixtures, fittings, tools and equipment | over 5 years
| Investments
| Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
| Debtors
| Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
| Creditors
| Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
| Taxation
| A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
| Provisions
| Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 | Employees | 2025 |  | 2024
Number | Number
| Average number of persons employed by the company | 1 |  | 1
3 | Tangible fixed assets
|  |  |  |  |  |  |  | Land and buildings
£
| Cost
| At 1 February 2024 | 295,000
| Surplus on revaluation | 160,000
| At 31 January 2025 | 455,000
| Depreciation
| At 31 January 2025 | -
| Net book value
| At 31 January 2025 | 455,000
| At 31 January 2024 | 295,000
| Freehold land and buildings: | 2025 |  | 2024
£ | £
| Historical cost | 295,000 |  | 295,000
| Cumulative depreciation based on historical cost | - |  | -
|  |  |  |  |  | 295,000 |  | 295,000
4 | Investments
Investments in
subsidiary
undertakings
£
| Cost
| At 1 February 2024 | 277,500
| At 31 January 2025 | 277,500
| Historical cost
| At 1 February 2024 | 277,500
| At 31 January 2025 | 277,500
5 | Debtors | 2025 |  | 2024
£ | £
| Trade debtors | 2 |  | 2
| Amounts owed by group undertakings and undertakings in which the company has a participating interest |  | 20,961 |  | 14,161
| Other debtors | 197,882 |  | 47,422
|  |  |  |  |  | 218,845 |  | 61,585
6 | Investments held as current assets | 2025 |  | 2024
£ | £
| Fair value
| Unlisted investments | 14,712 |  | 14,712
7 | Creditors: amounts falling due within one year | 2025 |  | 2024
£ | £
| Taxation and social security costs | 1 |  | -
| Other creditors | 125,593 |  | 37,210
|  |  |  |  |  | 125,594 |  | 37,210
8 | Creditors: amounts falling due after one year | 2025 |  | 2024
£ | £
| Bank loans | 323,111 |  | 325,916
9 | Loans | 2025 |  | 2024
£ | £
| Creditors include:
| Secured bank loans | 321,239 |  | 321,239
| The lender holds a standard security over the freehold properties.
10 | Revaluation reserve | 2025 |  | 2024
£ | £
| Gain on revaluation of land and buildings | 160,000 |  | -
| At 31 January 2025 | 160,000 |  | -
11 | Controlling party
| The company is controlled by Sally Cameron on account of her owning 74.99% of the issued share capital.
12 | Other information
| Homespares Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
| 86 Bell Street
| Dundee
| DD1 1HN

Homespares Limited SC201740 false 2024-02-01 2025-01-31 2025-01-31 VT Final Accounts April 2025 Sally Cameron No description of principal activity SC201740 2023-02-01 2024-01-31 SC201740 core:RevaluationReserve core:LandBuildings 2023-02-01 2024-01-31 SC201740 core:WithinOneYear 2024-01-31 SC201740 core:AfterOneYear 2024-01-31 SC201740 core:ShareCapital 2024-01-31 SC201740 core:OtherReservesSubtotal 2024-01-31 SC201740 core:RetainedEarningsAccumulatedLosses 2024-01-31 SC201740 core:RevaluationReserve 2024-01-31 SC201740 2024-02-01 2025-01-31 SC201740 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 SC201740 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 SC201740 bus:Director40 2024-02-01 2025-01-31 SC201740 1 2024-02-01 2025-01-31 SC201740 2 2024-02-01 2025-01-31 SC201740 core:LandBuildings 2024-02-01 2025-01-31 SC201740 core:RevaluationReserve core:LandBuildings 2024-02-01 2025-01-31 SC201740 countries:England 2024-02-01 2025-01-31 SC201740 bus:FRS102 2024-02-01 2025-01-31 SC201740 bus:FilletedAccounts 2024-02-01 2025-01-31 SC201740 2025-01-31 SC201740 core:WithinOneYear 2025-01-31 SC201740 core:AfterOneYear 2025-01-31 SC201740 core:ShareCapital 2025-01-31 SC201740 core:OtherReservesSubtotal 2025-01-31 SC201740 core:RetainedEarningsAccumulatedLosses 2025-01-31 SC201740 core:LandBuildings 2025-01-31 SC201740 core:RevaluationReserve 2025-01-31 SC201740 2024-01-31 SC201740 core:LandBuildings 2024-01-31 iso4217:GBP xbrli:pure