Honest Finance Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 10108023 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

HONEST FINANCE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr A Kalayci

REGISTERED OFFICE:

114-116 Fore Street

Hertford

Hertfordshire

SG14 1AJ

REGISTERED NUMBER:

10108023 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certified Accountants

Solar House

282 Chase Road

London

N14 6NZ

FIXED ASSETS

Tangible assets

4

1,508

1,909

CURRENT ASSETS

Debtors

5

185,173

184,592

Cash at bank

26

185,199

184,618

CREDITORS

Amounts falling due within one year

6

109,199

108,599

NET CURRENT ASSETS

76,000

76,019

TOTAL ASSETS LESS CURRENT
LIABILITIES

77,508

77,928

CREDITORS

Amounts falling due after more than one
year

7

74,691

NET ASSETS

2,817

3,237

CAPITAL AND RESERVES

Called up share capital

8

100

Retained earnings

2,717

3,137

SHAREHOLDERS' FUNDS

2,817

3,237

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 November 2025 and were signed by:

Mr A Kalayci - Director

1.	STATUTORY INFORMATION

Honest Finance Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents amounts derived from the provision of services to customers during the year, and is recognised at the date the service was provided. This is stated after trade discounts and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

COST

At 1 November 2023

and 31 October 2024

5,820

2,152

7,972

DEPRECIATION

At 1 November 2023

4,294

1,769

6,063

Charge for year

305

96

401

At 31 October 2024

4,599

1,865

6,464

NET BOOK VALUE

At 31 October 2024

1,221

287

1,508

At 31 October 2023

1,526

383

1,909

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.24

31.10.23

£

Other debtors

2,000

Amounts due from related party

42,519

41,938

Directors' current accounts

140,654

185,173

184,592

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.24

31.10.23

£

Bank loans and overdrafts

1,859

Tax

95,797

Other creditors

10,943

Accrued expenses

600

-

109,199

108,599

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.10.24

31.10.23

£

Bank loans - 1-2 years

1,853

Bank loans - 2-5 years

4,786

Bank loans more 5 yr by instal

68,052

74,691

31.10.24

31.10.23

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

68,052

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.24

31.10.23

value:

£

100

Ordinary

1

100

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2024 and 31 October 2023:

31.10.24

31.10.23

£

Mr A Kalayci

Balance outstanding at start of year

140,654

-

Amounts advanced

-

140,654

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

140,654