Home Counties IT Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05652965 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Home Counties IT Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

W D Turner

SECRETARY:

N C Turner

REGISTERED OFFICE:

Unit 5 Clipstone Brook Ind. Est

Leighton Buzzard

Bedfordshire

LU7 4GP

REGISTERED NUMBER:

05652965 (England and Wales)

ACCOUNTANTS:

Stewarts Accountants Limited

271 High Street

Berkhamsted

Hertfordshire

HP4 1AA

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Home Counties IT Limited for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Home Counties IT Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Home Counties IT Limited and state those matters that we have agreed to state to the director of Home Counties IT Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Home Counties IT Limited and its director for our work or for this report.

It is your duty to ensure that Home Counties IT Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Home Counties IT Limited. You consider that Home Counties IT Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Home Counties IT Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Stewarts Accountants Limited

271 High Street

Berkhamsted

Hertfordshire

HP4 1AA

31 July 2025

FIXED ASSETS

Property, plant and equipment

4

46,178

15,276

Investments

5

10

46,188

15,286

CURRENT ASSETS

Inventories

438,882

426,300

Debtors

6

7,948

57,441

Cash at bank

17,197

8,368

464,027

492,109

CREDITORS

Amounts falling due within one year

7

136,908

293,325

NET CURRENT ASSETS

327,119

198,784

TOTAL ASSETS LESS CURRENT
LIABILITIES

373,307

214,070

CREDITORS

Amounts falling due after more than one year

8

(301,030

)

(15,072

)

PROVISIONS FOR LIABILITIES

-

(3,513

)

NET ASSETS

72,277

195,485

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

72,177

195,385

SHAREHOLDERS' FUNDS

72,277

195,485

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 July 2025 and were signed by:

W D Turner - Director

1.	STATUTORY INFORMATION

Home Counties IT 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

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax 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.

Plant and machinery etc

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 January 2024

12,474

40,077

52,551

Additions

-

37,770

Disposals

-

(2,250

)

(2,250

)

At 31 December 2024

12,474

75,597

88,071

DEPRECIATION

At 1 January 2024

-

37,275

Charge for year

-

7,975

Eliminated on disposal

-

(3,357

)

(3,357

)

At 31 December 2024

-

41,893

NET BOOK VALUE

At 31 December 2024

12,474

33,704

46,178

At 31 December 2023

12,474

2,802

15,276

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

10

NET BOOK VALUE

At 31 December 2024

10

At 31 December 2023

10

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

7,523

8,181

Other debtors

425

49,260

7,948

57,441

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

4,124

10,781

Trade creditors

14,596

254,947

Taxation and social security

9,602

23,844

Other creditors

108,586

3,753

136,908

293,325

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

Bank loans

16,447

15,072

Other creditors

284,583

-

301,030

15,072

9.	ULTIMATE CONTROLLING PARTY

The controlling party is W D Turner.