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Registered number: 13117256
Homefolk Retail Limited
Unaudited Financial Statements
For The Year Ended 31 January 2025
HGC Accountants
First Floor
30 London Road
Sawbridgeworth
Hertfordshire
CM21 9JS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13117256
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 10,363 13,634
10,363 13,634
CURRENT ASSETS
Stocks 5 115,970 69,975
Debtors 6 1,111 17,466
Cash at bank and in hand 12,672 18,826
129,753 106,267
Creditors: Amounts Falling Due Within One Year 7 (124,150 ) (197,296 )
NET CURRENT ASSETS (LIABILITIES) 5,603 (91,029 )
TOTAL ASSETS LESS CURRENT LIABILITIES 15,966 (77,395 )
NET ASSETS/(LIABILITIES) 15,966 (77,395 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 15,965 (77,396 )
SHAREHOLDERS' FUNDS 15,966 (77,395)
Page 1
Page 2
For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Andrew Jenkins
Director
15th July 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Homefolk Retail Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13117256 . The registered office is Lychett House, Wareham Road, Lytchett Matravers, Poole , Dorset, BH16 6FA.
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:
Plant & Machinery 25% Reducing balance
Fixtures & Fittings 15% Reducing balance
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. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: )
2 -
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4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 February 2024 21,215 1,950 23,165
As at 31 January 2025 21,215 1,950 23,165
Depreciation
As at 1 February 2024 8,955 576 9,531
Provided during the period 3,065 206 3,271
As at 31 January 2025 12,020 782 12,802
Net Book Value
As at 31 January 2025 9,195 1,168 10,363
As at 1 February 2024 12,260 1,374 13,634
5. Stocks
2025 2024
£ £
Finished goods 115,970 69,975
6. Debtors
2025 2024
£ £
Due within one year
Other debtors 1,111 17,466
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 1 2,998
Bank loans and overdrafts 12,611 -
Other loans 23,950 88,380
Other creditors 83,544 85,476
Taxation and social security 4,044 20,442
124,150 197,296
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8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1 1
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