Company registration number 05927936 (England and Wales)
HOME APPLIANCE GUARD LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
HOME APPLIANCE GUARD LTD
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 11
HOME APPLIANCE GUARD LTD
COMPANY INFORMATION
- 1 -
Director
Mr T M Hanslip
Company number
05927936
Registered office
3 Poole Road
Bournemouth
Dorset
BH2 5QJ
Accountants
Azets
37 Commercial Road
Poole
Dorset
BH14 0HU
HOME APPLIANCE GUARD LTD
BALANCE SHEET
AS AT
30 MARCH 2025
30 March 2025
- 2 -
30 March 2025
31 March 2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
296,234
386,824
Tangible assets
4
360,944
486,783
657,178
873,607
Current assets
Debtors
5
942,218
811,044
Cash at bank and in hand
475,715
330,034
1,417,933
1,141,078
Creditors: amounts falling due within one year
6
(1,458,890)
(1,734,476)
Net current liabilities
(40,957)
(593,398)
Total assets less current liabilities
616,221
280,209
Creditors: amounts falling due after more than one year
7
(91,389)
(20,000)
Provisions for liabilities
-
0
(20,674)
Net assets
524,832
239,535
Capital and reserves
Called up share capital
8
666
666
Capital redemption reserve
333
333
Profit and loss reserves
523,833
238,536
Total equity
524,832
239,535
HOME APPLIANCE GUARD LTD
BALANCE SHEET (CONTINUED)
AS AT
30 MARCH 2025
30 March 2025
- 3 -

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 30 October 2025 and are signed on its behalf by:
Mr T M Hanslip
Director
Company Registration No. 05927936
HOME APPLIANCE GUARD LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2025
- 4 -
1
Accounting policies
Company information

Home Appliance Guard Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 3 Poole Road, Bournemouth, Dorset, BH2 5QJ.

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 a mounts in these financial statements are rounded to the nearest £.

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.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Turnover represents commission receivable on policies sold during the period.

1.3
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation 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:

ICT software, licences and website
20% straight line
Development costs
25% straight line

Intangible assets were amortised on a reducing balance basis up until 31 March 2021, at which point the policy was changed to a straight line basis. Intangible assets acquired prior to 31 March 2021 are amortised on a straight line basis using the net book value at 31 March 2021. Intangible assets acquired after 31 March 2021 are amortised on a straight line basis using cost.

HOME APPLIANCE GUARD LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
1.5
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:

Leasehold improvements
25% straight line
ICT hardware
25% straight line
Motor vehicles
25% straight line
Office furniture and equipment
25% straight line

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.

Tangible assets were depreciated on a reducing balance basis up until 31 March 2021, at which point the policy was changed to a straight line basis. Tangible assets acquired before 31 March 2021 are depreciated on a straight line basis using the net book value at 31 March 2021. Tangible assets acquired after 31 March 2021 are depreciated on a straight line basis using cost.

Assets acquired under a Hire Purchase contract are depreciated over the term of the lease.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

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.

HOME APPLIANCE GUARD LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2025
1
Accounting policies
(Continued)
- 6 -
1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

HOME APPLIANCE GUARD LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2025
1
Accounting policies
(Continued)
- 7 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
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.

HOME APPLIANCE GUARD LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2025
1
Accounting policies
(Continued)
- 8 -
1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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 lease s asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
77
89
HOME APPLIANCE GUARD LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2025
- 9 -
3
Intangible fixed assets
ICT software, licences and website
Development costs
Total
£
£
£
Cost
At 1 April 2024
531,352
234,716
766,068
Additions
44,746
-
0
44,746
At 30 March 2025
576,098
234,716
810,814
Amortisation and impairment
At 1 April 2024
200,044
179,200
379,244
Amortisation charged for the year
107,329
28,007
135,336
At 30 March 2025
307,373
207,207
514,580
Carrying amount
At 30 March 2025
268,725
27,509
296,234
At 31 March 2024
331,308
55,516
386,824
4
Tangible fixed assets
Leasehold improvements
ICT hardware
Motor vehicles
Office furniture and equipment
Total
£
£
£
£
£
Cost
At 1 April 2024
158,461
473,788
32,086
624,743
1,289,078
Additions
-
0
6,177
128,964
3,830
138,971
Disposals
-
0
(337,241)
(13,894)
-
0
(351,135)
At 30 March 2025
158,461
142,724
147,156
628,573
1,076,914
Depreciation and impairment
At 1 April 2024
81,784
400,423
15,399
304,689
802,295
Depreciation charged in the year
39,615
43,550
22,485
155,390
261,040
Eliminated in respect of disposals
-
0
(335,340)
(12,025)
-
0
(347,365)
At 30 March 2025
121,399
108,633
25,859
460,079
715,970
Carrying amount
At 30 March 2025
37,062
34,091
121,297
168,494
360,944
At 31 March 2024
76,677
73,365
16,687
320,054
486,783
HOME APPLIANCE GUARD LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2025
- 10 -
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
4,703
-
0
Other debtors
904,594
811,044
909,297
811,044
2025
2024
Amounts falling due after more than one year:
£
£
Deferred tax asset
32,921
-
0
Total debtors
942,218
811,044
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
10,000
93,954
Trade creditors
400,968
462,082
Taxation and social security
240,504
91,442
Other creditors
807,418
1,086,998
1,458,890
1,734,476
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
9,662
20,000
Obligations under finance leases
81,727
-
0
91,389
20,000

Secured loans

Included in the long term creditors is an aggregate amount of £9,662 (2024: £20,000) which is secured by a fixed and floating charge over the company's assets.

HOME APPLIANCE GUARD LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2025
- 11 -
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
666
666
666
666
9
Operating lease commitments
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
£
£
1,291,614
1,492,276
10
Related party transactions

The company has taken advantage of the FRS102 section 33.1A exemption from disclosing transactions entered into between members of the group.

11
Directors' transactions

During the year, a total of £229,547 (2024: £599,694) was advanced to and a total of £223,438 (2024: £215,500) was credited by the Directors in respect of their directors' current account. Interest has been charged on this balance at 2.25% totalling £8,188 (2024: £4,035). At the balance sheet date the amount due from the Directors was £401,630 (2024: £388,229 and (£896)).

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