| Trademark Homes Ltd |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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. |
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Long leasehold properties |
2% per annum (straight line) |
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Plant and office equipment |
15% per annum (straight line) |
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Motor vehicles |
25% per annum (straight line) |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. |
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Stocks |
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Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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Leased assets |
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A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
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Average number of persons employed by the company |
12 |
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13 |
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| 3 |
Tangible fixed assets |
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Land and buildings |
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Plant and office equipment |
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Motor vehicles |
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Total |
| £ |
£ |
£ |
£ |
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Cost |
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At 1 April 2024 |
1,341,607 |
|
173,369 |
|
155,099 |
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1,670,075 |
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Additions |
- |
|
7,089 |
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144,615 |
|
151,704 |
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Disposals |
- |
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- |
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(105,390) |
|
(105,390) |
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At 31 March 2025 |
£ 1,341,607 |
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£ 180,458 |
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£ 194,324 |
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£ 1,716,389 |
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Depreciation |
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At 1 April 2024 |
214,657 |
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155,522 |
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151,892 |
|
522,071 |
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Charge for the year |
26,832 |
|
6,856 |
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39,360 |
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73,048 |
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On disposals |
- |
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- |
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(105,390) |
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(105,390) |
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At 31 March 2025 |
£ 241,489 |
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£ 162,378 |
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£ 85,862 |
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£ 489,729 |
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Net book value |
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At 31 March 2025 |
£ 1,100,118 |
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£ 18,080 |
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£ 108,462 |
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£ 1,226,660 |
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At 31 March 2024 |
£ 1,126,950 |
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£ 17,847 |
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£ 3,207 |
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£ 1,148,004 |
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Land and buildings: |
2025 |
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2024 |
| £ |
£ |
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Historical cost |
£ 1,219,103 |
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£ 1,219,103 |
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Included in Land and buildings is property previously transferred from investment property, which had previously been revalued at £900,000, and was transferred at that deemed cost. |
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| 4 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
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Cost |
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At 1 April 2024 |
1 |
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At 31 March 2025 |
£ 1 |
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The company owns 100% of the issued share capital of WeHome Ltd, a for profit housing association.The company is dormant. |
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| 5 |
Stocks and work in progress |
2025 |
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2024 |
| £ |
£ |
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Stocks |
660,265 |
|
802,776 |
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Work in progess |
167,959 |
|
88,631 |
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£ 828,224 |
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£ 891,407 |
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| 6 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
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Trade debtors |
613,376 |
|
197,760 |
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Prepayments and accrued income |
5,585 |
|
5,305 |
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Directors loan |
2,000,000 |
|
6,846,042 |
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Other debtors |
906,236 |
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2,326,352 |
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£ 3,525,197 |
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£ 9,375,459 |
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Amounts due after more than one year included above |
£ 675,000 |
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£ 675,000 |
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The directors loan is subject to interest at the official rate until 5th April 2024, and is thereafter interest free and repayable on demand. |
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| 7 |
Creditors: amounts falling due within one year |
2025 |
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2024 |
| £ |
£ |
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Bank loans and overdrafts |
5,555 |
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5,555 |
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Directors loans |
5,048 |
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- |
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Obligations under finance lease and hire purchase contracts |
15,821 |
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- |
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Trade creditors |
2,443,341 |
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2,418,616 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
1,119,622 |
|
7,006,330 |
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Taxation and social security costs |
41,110 |
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2,406,402 |
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Accruals and deferred income |
28,521 |
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31,357 |
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£ 3,659,018 |
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£ 11,868,260 |
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| 8 |
Creditors: amounts falling due after one year |
2025 |
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2024 |
| £ |
£ |
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Bank loans |
23,612 |
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29,167 |
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Obligations under finance lease and hire purchase contracts |
27,975 |
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- |
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£ 51,587 |
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£ 29,167 |
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| 9 |
Loans |
2025 |
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2024 |
| £ |
£ |
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Creditors include: |
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Instalments falling due for payment after more than five years |
£ 1,422 |
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£ 6,974 |
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Secured bank loans |
£ 43,796 |
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- |
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Secured loans are hire purchase contracts and are secured on motor vehicles with a net book value of £73,399. |
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| 10 |
Revaluation reserve |
2025 |
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2024 |
| £ |
£ |
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At 1 April 2024 |
122,504 |
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122,504 |
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At 31 March 2025 |
£ 122,504 |
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£ 122,504 |
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| 11 |
Other financial commitments |
2025 |
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2024 |
| £ |
£ |
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Annual future minimum payments under non-cancellable operating leases |
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£ 7,612 |
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£ 7,612 |
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| 13 |
Exemption from preparation of group accounts |
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As the company is itself a subsidiary and its ultimate holding company prepares group accounts, it is exempt from preparing group accounts. The ultimate parent undertaking that prepares group accounts is The Trademark Group Ltd, whose address is Studio One, 197 Long Lane, London SE1 4PD. |
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| 12 |
Contingent liabilities |
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The company has entered into a group banking arrangement with its fellow group companies and has given an unlimited cross guarantee and debenture to secure group borrowings. The borrowings secured under this arrangement at the Balance Sheet date were £Nil (2024 £Nil). The director does not anticipate that these arrangements will result in any loss to the company. |
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| 13 |
Related party transactions |
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The company is exempt from disclosing transactions with fellow group companies under Section 33-1A of FRS102 as it is a wholly owned group. |
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| 14 |
Controlling party |
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The company's ultimate holding company is The Trademark Group Ltd, a company incorporated in England & Wales, whose principal place of business is Studio One, 197 Long Lane, London SE1 4PD. The Trademark Group Ltd is controlled by Mr T G McMillan. Accounts for The Trademark Group Ltd can be obtained from Companies House, Crown Way, Cardiff CF14 3UZ. |
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| 15 |
Other information |
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Trademark Homes Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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Studio One |
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197 Long Lane |
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London |
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SE1 4PD |