REGISTERED NUMBER: 10007651 (England and Wales)

Home Utility Group Limited

Financial Statements

for the Period 1 April 2024 to 30 March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr K M Carney

Mr N A Davis

REGISTERED OFFICE:

Unit 7a

Asquith Avenue Business Park

Morley

Leeds

West Yorkshire

LS27 7RZ

REGISTERED NUMBER:

10007651 (England and Wales)

ACCOUNTANTS:

SMH Jolliffe Cork Ltd

Accountants & Business Advisors

33 George Street

Wakefield

West Yorkshire

WF1 1LX

FIXED ASSETS

Intangible assets

4

22,240

32,756

Tangible assets

5

116,238

200,927

138,478

233,683

CURRENT ASSETS

Debtors

6

434,183

832,151

Cash at bank

368,650

433,570

802,833

1,265,721

CREDITORS

Amounts falling due within one year

7

892,655

817,339

NET CURRENT (LIABILITIES)/ASSETS

(89,822

)

448,382

TOTAL ASSETS LESS CURRENT LIABILITIES

48,656

682,065

CREDITORS

Amounts falling due after more than one year

8

(52,627

)

(133,800

)

PROVISIONS FOR LIABILITIES

(30,279

)

(50,231

)

NET (LIABILITIES)/ASSETS

(34,250

)

498,034

CAPITAL AND RESERVES

Called up share capital

11

100

100

Share premium

12

29,980

29,980

Retained earnings

12

(64,330

)

467,954

SHAREHOLDERS' FUNDS

(34,250

)

498,034

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

The members have not required the company to obtain an audit of its financial statements for the period ended 30 March 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 26 June 2026 and were signed on its behalf by:

Mr K M Carney - Director

1.	STATUTORY INFORMATION

Home Utility Group 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.

The functional and presentation currency for the company is the pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised with reference to the stage of completion of the installation, service or repair.

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.

Trademarks are being amortised evenly over their estimated useful life of ten years.

Website is being amortised evenly over its estimated useful life of five 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.

Plant and machinery

-

15% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Fixed assets are initially recorded at cost.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals applicable to operating leases where substantially all the benefits and risks of ownership remain with the lessor are charged against profits 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.

Going concern

The company had net liabilities at the balance sheet date..The directors have assessed the situation and having considered future cash flow and profitability forecasts are satisfied that the going concern basis is appropriate.

Employee ownership trust

HUG Employee Ownership Trust has been established with the object of ensuring that shares in the company are held for the benefit of the company's employees and that the eligible employees shall have an interest in the company's business.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 32 (2024 - 36 ) .

4.	INTANGIBLE FIXED ASSETS

Trademarks

Website

Totals

£

£

£

COST

At 1 April 2024

and 30 March 2025

3,100

74,866

77,966

AMORTISATION

At 1 April 2024

1,860

43,350

45,210

Amortisation for period

250

10,266

10,516

At 30 March 2025

2,110

53,616

55,726

NET BOOK VALUE

At 30 March 2025

990

21,250

22,240

At 31 March 2024

1,240

31,516

32,756

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

21,835

3,210

298,965

10,794

334,804

Additions

2,143

-

-

-

2,143

Disposals

-

-

(90,250

)

-

(90,250

)

At 30 March 2025

23,978

3,210

208,715

10,794

246,697

DEPRECIATION

At 1 April 2024

14,809

1,855

107,681

9,532

133,877

Charge for period

2,791

203

42,835

614

46,443

Eliminated on disposal

-

-

(49,861

)

-

(49,861

)

At 30 March 2025

17,600

2,058

100,655

10,146

130,459

NET BOOK VALUE

At 30 March 2025

6,378

1,152

108,060

648

116,238

At 31 March 2024

7,026

1,355

191,284

1,262

200,927

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2024

256,300

Disposals

(83,250

)

At 30 March 2025

173,050

DEPRECIATION

At 1 April 2024

88,684

Charge for period

42,389

Eliminated on disposal

(44,522

)

At 30 March 2025

86,551

NET BOOK VALUE

At 30 March 2025

86,499

At 31 March 2024

167,616

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

430,159

558,041

Amounts owed by related undertakings

-

157,634

Other debtors

2,400

600

Directors' current accounts

-

112,460

Prepayments and accrued income

1,624

3,416

434,183

832,151

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,648

10,206

Hire purchase contracts (see note 9)

39,594

62,277

Trade creditors

376,890

443,435

Tax

94,385

26,449

Social security and other taxes

29,233

31,398

VAT

98,151

97,501

Other creditors

188,420

128,148

Directors' current accounts

33,618

13,500

Accruals and deferred income

21,716

4,425

892,655

817,339

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

1,555

12,188

Hire purchase contracts (see note 9)

51,072

121,612

52,627

133,800

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2025

2024

£

£

Net obligations repayable:

Within one year

39,594

62,277

Between one and five years

51,072

121,612

90,666

183,889

Non-cancellable

operating leases

2025

2024

£

£

Within one year

28,880

10,240

Between one and five years

55,000

-

83,880

10,240

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

90,666

183,889

Obligations under hire purchase agreements are secured against the asset to which they relate.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

12.

RESERVES

On 31 July 2024, the shareholders of Home Utility Group Limited elected to sell 100% of their shares to its employees, through the mechanism of an Employee Ownership Trust. As a result of this transaction, Home Utility Group Limited have made payments totalling £681,500 in the period, as part of the initial consideration, through HUG Employee Onwership Trustee Limited and then to the former shareholders.

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 30 March 2025 and the year ended 31 March 2024:

2025

2024

£

£

Mr K M Carney

Balance outstanding at start of period

55,926

27,792

Amounts advanced

-

79,207

Amounts repaid

(55,926

)

(51,073

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

-

55,926

Mr N A Davis

Balance outstanding at start of period

56,534

28,376

Amounts advanced

-

79,194

Amounts repaid

(56,534

)

(51,036

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

-

56,534