For the financial year ended 31 January 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

Homemade (Pickwell) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Pickwell Manor, Georgeham, Braunton, Devon, EX33 1LA.

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, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.

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. The surplus or deficit on revaluation is recognised in the profit and loss account.

The tax expense represents the sum of the tax currently payable and deferred 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 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 average monthly number of persons (including directors) employed by the company during the year was:

Investment property comprises twelve properties at the period end (2024 - twelve properties).

The fair values of the properties have been assessed by the directors at the period end taking into account current market conditions.

Bank loans and overdrafts includes a balance of £34,044 (2024 - £31,389) relating to the current portion of the company's bank loans. The bank loans are secured on fixed and floating charges over the properties and other assets of the company.

Included within other creditors is a balance of £1,759,624 (2024 - £1,789,695) owed to the directors.

Bank loans and overdrafts includes a balance of £2,264,701 (2024 - £2,300,394) relating to the non-current portion of the company's bank loans. The bank loans are secured on fixed and floating charges over the properties and other assets of the company.

Non-distributable reserves comprise revaluations of investment properties, net of deferred tax provisions.

Intercompany loans

At the year the company was owed £240,726 from four companies under common control (2024: £278,755)

At the year end the company owed £30,076 to a company under common control (2024: £nil).

The loans are interest free and repayable on demand.