House of Xpressions Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 08188964

House of Xpressions Ltd

Filleted Unaudited Financial Statements

30 December 2024

House of Xpressions Ltd

Statement of Financial Position

30 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	–	50,562

Current assets

Stocks	6	–	406,341
Debtors	7	7,997,000	7,076,765
Cash at bank and in hand		17,793	212,930
		------------	------------
		8,014,793	7,696,036

Creditors: amounts falling due within one year	8	7,361,390	7,084,454
		------------	------------
Net current assets		653,403	611,582
		---------	---------
Total assets less current liabilities		653,403	662,144
		---------	---------
Net assets		653,403	662,144
		---------	---------

Capital and reserves

Called up share capital	10	100	100
Profit and loss account		653,303	662,044
		---------	---------
Shareholder funds		653,403	662,144
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

House of Xpressions Ltd

Statement of Financial Position (continued)

30 December 2024

These financial statements were approved by the board of directors and authorised for issue on 3 December 2025 , and are signed on behalf of the board by:

N. Valamootoo

Director

Company registration number: 08188964

House of Xpressions Ltd

Notes to the Financial Statements

Year ended 30 December 2024

1. General information

House of Xpressions Limited, is a private company limited by shares, registration number 08188964 , incorporated in England and Wales. Its registered office is 99 Kenton Road, Harrow, HA3 0AN. Its principal place of business is Elmsdale House, 31 The Green, Money Lane, West Drayton, UB7 7PN.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Sale of goods Turnover from the sale of goods is recognised when all of the following conditions are satisfied: - The Company has transferred the significant risks and rewards of ownership to the buyer; - The Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; - The amount of turnover can be measured reliably; - It is probable that the Company will receive the consideration due under the transaction; and - The costs incurred or to be incurred in respect of the transaction can be measured reliably.

Income tax

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that: - The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and - Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Company can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Tangible assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Office equipment	-	25% straight line
Motor vehicles	-	25% straight line
Equipment	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Debtors

Short term debtors are measured at transaction price, less any impairment. Long term debtors are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship (see hedge accounting policy). Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 9 (2023: 9 ).

5. Tangible assets

	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 January 2024	40,650	47,453	68,424	156,527
Disposals	–	( 20,650)	–	( 20,650)
Transfers	(40,650)	(26,803)	(68,424)	(135,877)
	--------	--------	--------	---------
At 30 December 2024	–	–	–	–
	--------	--------	--------	---------
Depreciation
At 1 January 2024	14,652	47,451	43,862	105,965
Charge for the year	10,162	–	10,030	20,192
Disposals	–	( 20,650)	–	( 20,650)
Transfers	(24,814)	(26,801)	(53,892)	(105,507)
	--------	--------	--------	---------
At 30 December 2024	–	–	–	–
	--------	--------	--------	---------
Carrying amount
At 30 December 2024	–	–	–	–
	--------	--------	--------	---------
At 31 December 2023	25,998	2	24,562	50,562
	--------	--------	--------	---------

6. Stocks

	2024	2023
	£	£
Finished goods and goods for resale	–	406,341
	----	---------

7. Debtors

	2024	2023
	£	£
Trade debtors	9,815	792,628
Amounts owed by group undertakings	7,986,765	5,613,916
Prepayments and accrued income	–	670,021
Other debtors	420	200
	------------	------------
	7,997,000	7,076,765
	------------	------------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	19,764	429,898
Amounts owed to group undertakings	7,179,339	5,883,164
Accruals and deferred income	71,671	605,368
Corporation tax	20,092	1,510
Social security and other taxes	–	164,379
Other creditors	70,524	135
	------------	------------
	7,361,390	7,084,454
	------------	------------

Other creditors includes a provision of £70,000 for legal fees that the Company has to pay towards a third party for a dispute that was ongoing at the year-end, and was awarded in the favour of the counter-party subsequent to the year-end.

9. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 167 (2023: £ 7,868 ).

10. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

11. Controlling party

The ultimate parent company is Raptor Capital Limited , a company incorporated in the United Kingdom. There is not considered to be a single controlling party .