Registration number: 03694358

Homeglade Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 5

Homeglade Limited

(Registration number: 03694358)
Statement of Financial Position as at 31 January 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	3	-	24
Investment property	4	350,000	350,000
		350,000	350,024
Current assets
Debtors		399	-
Cash at bank and in hand		6,251	16,648
		6,650	16,648
Creditors: Amounts falling due within one year	5	(1,532)	(602)
Net current assets		5,118	16,046
Total assets less current liabilities		355,118	366,070
Provisions for liabilities		(39,460)	(39,460)
Net assets		315,658	326,610
Capital and reserves
Called up share capital		100	100
Revaluation reserve		128,329	128,329
Retained earnings		187,229	198,181
Shareholders' funds		315,658	326,610

For the financial 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.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 31 October 2025
 

......................................... Mrs P Riding Company secretary and director

Homeglade Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
148 Hollins Lane
Unsworth
Bury
Lancashire
BL9 8AW
England

These financial statements were authorised for issue by the director on 31 October 2025.

2	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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except where disclosed in the accounting policies.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the rental of property in the ordinary course of the company’s activities. Turnover is shown net of rents, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
It is probable that future economic benefits will flow to the entity; and
Specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises 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 corporation 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 country where the company operates and generates taxable income.

Homeglade Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The director uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

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 Income Statement 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.

Homeglade Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

3	Tangible assets

	Office equipment £	Total £
Cost or valuation
At 1 February 2024	20,211	20,211
At 31 January 2025	20,211	20,211
Depreciation
At 1 February 2024	20,187	20,187
Charge for the year	24	24
At 31 January 2025	20,211	20,211
Carrying amount
At 31 January 2025	-	-
At 31 January 2024	24	24

4	Investment properties

	2025 £
At 1 February	350,000
At 31 January	350,000

The fair value of the company's Investment property was revalued on 31 January 2017 by the director. The value has been adopted as the deemed cost of the asset concerned on transition to FRS 102. Had this class of asset been measured on a historical basis, the carrying amount would have been £140,585.

There has been no change in valuation at 31 January 2025.

Homeglade Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

5

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Accruals and deferred income	1,532	601
Other creditors	-	1
	1,532	602

6	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).