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Registration number: 07771376

Howes Homes Limited
Unaudited Filleted Financial Statements
for the Year Ended 30 September 2025

Howes Homes Limited

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 10

Howes Homes Limited

Company Information

Director | Mr K Howe

Registered office | Thompson Jenner LLP 28 Alexandra Terrace Exmouth Devon EX8 1BD

Accountants | Thompson Jenner LLP Chartered Accountants 28 Alexandra Terrace Exmouth Devon EX8 1BD

Howes Homes Limited

(Registration number: 07771376)
Balance Sheet as at 30 September 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 845 | 2,130
Investment property | 5 | 537,445 | 459,189
|  | 538,290 | 461,319
Current assets |  |  |
Debtors | 6 | 31,877 | 24,218
Cash at bank and in hand |  | 1,671 | 2,464
|  | 33,548 | 26,682
Creditors: Amounts falling due within one year | 7 | (591,663) | (496,435)
Net current liabilities |  | (558,115) | (469,753)
Total assets less current liabilities |  | (19,825) | (8,434)
Creditors: Amounts falling due after more than one year | 7 | - | (9,436)
Net liabilities |  | (19,825) | (17,870)
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Retained earnings |  | (19,925) | (17,970)
Shareholders' deficit |  | (19,825) | (17,870)

For the financial year ending 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 21 April 2026

Howes Homes Limited

(Registration number: 07771376)
Balance Sheet as at 30 September 2025

......................................... Mr K Howe Director

Howes Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Thompson Jenner LLP
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The director has acknowledged the negative reserves at the balance sheet date and has pledged to continue to support the company so it can meet its obligations as they arise. Therefore the financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Howes Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | 20 % straight line
Motor vehicles | 20 % straight line
Office equipment | 20 % straight line

Investment property

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with FRS 102 Section 1A, as follows:
Investment property is included at fair value. Any surplus or deficit on revaluation is recognised in the profit and loss account. Deferred taxation is provided on gains at the rate expected to apply when the property is sold.
No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.
This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Howes Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Howes Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 2).

Howes Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

4 | Tangible assets

| Furniture, fittings and equipment £ | Motor vehicles £ | Plant & machinery £ | Total £
Cost or valuation
At 1 October 2024 | 4,534 | 63,903 | 928 | 69,365
Disposals | - | (32,990) | - | (32,990)
At 30 September 2025 | 4,534 | 30,913 | 928 | 36,375
Depreciation
At 1 October 2024 | 3,213 | 63,363 | 659 | 67,235
Charge for the year | 880 | 270 | 135 | 1,285
Eliminated on disposal | - | (32,990) | - | (32,990)
At 30 September 2025 | 4,093 | 30,643 | 794 | 35,530
Carrying amount
At 30 September 2025 | 441 | 270 | 134 | 845
At 30 September 2024 | 1,321 | 540 | 269 | 2,130

5 | Investment properties

| 2025 £
At 1 October | 459,189
Additions | 78,256
At 30 September | 537,445

There has been no valuation of investment property by an independent valuer. The Director has assessed the valuation of the property as at the year-end to be the same as the original cost of acquisition.

Howes Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

6 | Debtors

| 2025 £ | 2024 £
Other debtors | 31,558 | 23,743
Prepayments and accrued income | 319 | 475
Total current trade and other debtors | 31,877 | 24,218

7 | Creditors

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 8 | 9,472 | 14,146
Trade creditors |  | 7,793 | 23,888
Taxation and social security |  | 205 | 99
Other creditors |  | 570,528 | 450,521
Accrued expenses |  | 3,665 | 7,781
|  | 591,663 | 496,435

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 8 | - | 9,436

Howes Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

8 | Loans and borrowings

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 9,472 | 12,666
Hire purchase contracts | - | 1,480
| 9,472 | 14,146

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | - | 9,436