Homewood Rail Limited iXBRL

Company Registration Number: 05813638

Homewood Rail Limited

Unaudited Financial Statements

for the financial year ended 31 May 2025

Homewood Rail Limited

DIRECTOR AND OTHER INFORMATION


Director	Mr Patrick Homewood


Company Registration Number	05813638


Registered Office	1 Quarry Hill Road
	Borough Green
	Sevenoaks
	Kent
	TN15 8RF


Business Address	1 Quarry Hill Road
	Borough Green
	Sevenoaks
	Kent
	TN1 58RF


Accountants	Henry Reeves & Co Limited
	Chartered Certified Accountants
	5 West Court
	Enterprise Road
	Maidstone
	Kent
	ME15 6JD

Homewood Rail Limited

Company Registration Number: 05813638

STATEMENT OF FINANCIAL POSITION

as at 31 May 2025

		2025	2024
	Notes	£	£

Non-Current Assets

Property, plant and equipment

8,796

11,335

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Current Assets

Debtors

1,296,659

1,197,788

Cash and cash equivalents

6,693

4,124

─────────

1,303,352

1,201,912

─────────

Creditors: amounts falling due within one year

(961,162)

(868,156)

─────────

Net Current Assets

342,190

333,756

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Total Assets less Current Liabilities

350,986

345,091

Creditors:

amounts falling due after more than one year

(14,045)

(24,409)

Provisions for liabilities

(2,199)

(2,940)

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Net Assets

334,742

317,742

═════════

Capital and Reserves

Called up share capital

100

100

Retained earnings

334,642

317,642

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Shareholders' Funds

334,742

317,742

═════════

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).

The company has taken advantage of the exemption under section 444 not to file the Income Statement and Director's Report.

For the financial year ended 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.

Approved by the Director and authorised for issue on 24 December 2025




________________________________
Mr Patrick Homewood
Director

Homewood Rail Limited

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 May 2025

General Information

Homewood Rail Limited is a company limited by shares incorporated and registered in the United Kingdom. The registered number of the company is 05813638. The registered office of the company is 1 Quarry Hill Road, Borough Green, Sevenoaks, Kent, TN15 8RF. Retail trade of motor vehicle parts and accessories. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the financial year ended 31 May 2025 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Turnover

Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Property, plant and equipment and depreciation

Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:

Plant and machinery

25% reducing balance

Fixtures, fittings and equipment

25% reducing balance

Motor vehicles

25% reducing balance

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Leasing

Rentals payable under operating leases are dealt with in the Income Statement as incurred over the period of the rental agreement.

Provisions

Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.

Taxation and deferred taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.

Financial Instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Employees

The average monthly number of employees, including director, during the financial year was 48, (2024 - 55).


4.	Property, plant and equipment
		Plant and	Fixtures,	Motor	Total
		machinery	fittings and	vehicles
			equipment
		£	£	£	£
	Cost
	At 1 June 2024	8,162	11,494	31,771	51,427
	Additions	-	345	-	345
		─────────	─────────	─────────	─────────
	At 31 May 2025	8,162	11,839	31,771	51,772
		─────────	─────────	─────────	─────────
	Depreciation
	At 1 June 2024	8,073	8,625	23,394	40,092
	Charge for the financial year	22	768	2,094	2,884
		─────────	─────────	─────────	─────────
	At 31 May 2025	8,095	9,393	25,488	42,976
		─────────	─────────	─────────	─────────
	Net book value
	At 31 May 2025	67	2,446	6,283	8,796
		═════════	═════════	═════════	═════════
	At 31 May 2024	89	2,869	8,377	11,335
		═════════	═════════	═════════	═════════


5.	Debtors	2025	2024
		£	£

	Trade debtors	857,734	756,441
	Other debtors	3,434	-
	Director's current account (Note 9)	315,457	311,949
	Taxation and social security costs	115,910	113,811
	Prepayments and accrued income	4,124	15,587
		─────────	─────────
		1,296,659	1,197,788
		═════════	═════════


6.	Creditors	2025	2024
	Amounts falling due within one year	£	£

	Bank loan	11,533	41,173
	Taxation and social security costs	432,328	656,676
	Other creditors	512,301	55,165
	Accruals	5,000	115,142
		─────────	─────────
		961,162	868,156
		═════════	═════════


7.	Creditors	2025	2024
	Amounts falling due after more than one year	£	£

	Bank loan	14,045	24,409
		═════════	═════════

	Loans
	Repayable in one year or less, or on demand (Note 6)	11,533	41,173
	Repayable between one and two years	14,045	9,427
	Repayable between two and five years	-	14,982
		─────────	─────────
		25,578	65,582
		═════════	═════════

Provisions for liabilities

The amounts provided for deferred taxation are analysed below:

Capital

Total

Total

allowances

2025

2024

At financial year start

2,940

2,940

3,965

Charged to profit and loss

(741)

(741)

(1,025)

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At financial year end

2,199

2,940

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Director's advances, credits and guarantees

During the year the director received advances of £64,708 from the company, and repaid £61,200 to the company. The outstanding balance owed by the director to the company at year-end was £315,457 (2024 - £311,949).