REGISTERED NUMBER: 05019542 (England and Wales)

FINANCIAL STATEMENTS

FOR THE PERIOD 1 JUNE 2024 TO 30 JUNE 2025

FOR

HOMEFIT (UK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

F M Swanborough

W J Swanborough

M Swanborough

SECRETARY:

F M Swanborough

REGISTERED OFFICE:

Unit 10, Broadhelm Business Park

Broadvale Close

Pocklington

East Yorkshire

YO42 1AE

REGISTERED NUMBER:

05019542 (England and Wales)

ACCOUNTANTS:

Lloyd Dowson Limited

Medina House

2 Station Avenue

Bridlington

East Yorkshire

YO16 4LZ

FIXED ASSETS

Intangible assets

4

11,717

13,182

Tangible assets

5

1,491,375

2,030,864

Investment property

6

500,000

-

2,003,092

2,044,046

CURRENT ASSETS

Stocks

486,977

374,628

Debtors

7

44,592

146,703

Cash at bank and in hand

392

517

531,961

521,848

CREDITORS

Amounts falling due within one year

8

369,816

428,470

NET CURRENT ASSETS

162,145

93,378

TOTAL ASSETS LESS CURRENT LIABILITIES

2,165,237

2,137,424

CREDITORS

Amounts falling due after more than one year

9

(423,724

)

(445,044

)

PROVISIONS FOR LIABILITIES

(223,926

)

(228,815

)

NET ASSETS

1,517,587

1,463,565

CAPITAL AND RESERVES

Called up share capital

11

1,000

1,000

Revaluation reserve

742,594

728,106

Retained earnings

773,993

734,459

SHAREHOLDERS' FUNDS

1,517,587

1,463,565

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 4 June 2026 and were signed on its behalf by:

F M Swanborough - Director

1.	STATUTORY INFORMATION

Homefit (UK) 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 as modified by the revaluation of certain assets.

Turnover

Turnover derives from property renovations and is recognised when services are provided.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks and work in progress

Stocks and work in progress 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 period 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 period 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the statement of income and retained earnings over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the statement of income and retained earnings over the period to which they relate.

Pension costs and other post-retirement benefits

The company has implemented auto-enrolment pension in respect of all employees. Contributions are charged to the statement of income and retained earnings in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 14 (2024 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 June 2024

and 30 June 2025

14,647

AMORTISATION

At 1 June 2024

1,465

Charge for period

1,465

At 30 June 2025

2,930

NET BOOK VALUE

At 30 June 2025

11,717

At 31 May 2024

13,182

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 June 2024

2,000,000

211,750

2,211,750

Disposals

-

(8,650

)

(8,650

)

Reclassification/transfer

(500,000

)

-

(500,000

)

At 30 June 2025

1,500,000

203,100

1,703,100

DEPRECIATION

At 1 June 2024

-

180,886

180,886

Charge for period

30,000

7,949

37,949

Eliminated on disposal

-

(7,110

)

(7,110

)

At 30 June 2025

30,000

181,725

211,725

NET BOOK VALUE

At 30 June 2025

1,470,000

21,375

1,491,375

At 31 May 2024

2,000,000

30,864

2,030,864

Cost or valuation at 30 June 2025 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2022

293,382

-

293,382

Valuation in 2023

419,118

-

419,118

Cost

787,500

203,100

990,600

1,500,000

203,100

1,703,100

If freehold land and building had not been revalued they would have been included at the following historical cost:

30.6.25

31.5.24

£

£

Cost

787,500

1,019,230

Aggregate depreciation

15,750

-

Freehold land and buildings was valued on an open market basis on 30 June 2025 by the directors .

The net book value of tangible fixed assets includes £NIL (2024 - £ 4,723 ) in respect of assets held under hire purchase contracts.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Reclassification/transfer

500,000

At 30 June 2025

500,000

NET BOOK VALUE

At 30 June 2025

500,000

Investment property has been transferred at deemed cost.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.25

31.5.24

£

£

Trade debtors

23,467

18,336

Amounts owed by associates

16,958

128,367

Other debtors

4,167

-

44,592

146,703

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.25

31.5.24

£

£

Bank loans and overdrafts

44,073

81,120

Hire purchase contracts

-

2,939

Trade creditors

115,481

103,545

Amounts owed to associates

99,543

115,545

Taxation and social security

59,123

74,136

Other creditors

51,596

51,185

369,816

428,470

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.25

31.5.24

£

£

Bank loans

423,724

445,044

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans

309,903

327,056

10.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.25

31.5.24

£

£

Hire purchase contracts

-

2,939

Bank loans

428,410

445,568

428,410

448,507

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.25

31.5.24

value:

£

£

1,000

Ordinary

£1

1,000

1,000