Homes Made Simple Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09999603 (England and Wales)

Homes Made Simple Limited

Unaudited Financial Statements

for the Year Ended 29 February 2020

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

5

DIRECTORS:

Mr A Ong

Mrs V E Aizlewood

REGISTERED OFFICE:

Suites 7-8, Raglan House

William Brown Close

Llantarnam Industrial Park

Cwmbran

Blaenau Gwent

NP44 3AB

REGISTERED NUMBER:

09999603 (England and Wales)

ACCOUNTANTS:

Grenfell James Associates Limited

13 The Courtyard

Timothys Bridge Road

Stratford Upon Avon

Warwickshire

CV37 9NP

FIXED ASSETS

Tangible assets

4

4,234

5,645

CURRENT ASSETS

Stocks

257,647

215,230

Debtors

5

3,420

4,316

Cash at bank and in hand

22,646

22,976

283,713

242,522

CREDITORS

Amounts falling due within one year

6

226,859

196,499

NET CURRENT ASSETS

56,854

46,023

TOTAL ASSETS LESS CURRENT LIABILITIES

61,088

51,668

CREDITORS

Amounts falling due after more than one year

7

11,876

17,219

NET ASSETS

49,212

34,449

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

49,112

34,349

49,212

34,449

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2020 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2020 and were signed on its behalf by:

Mr A Ong - Director

1.	STATUTORY INFORMATION

Homes Made Simple 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling

costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of

Income and Retained Earnings, 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 year 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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2019 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 March 2019

and 29 February 2020

13,013

DEPRECIATION

At 1 March 2019

7,368

Charge for year

1,411

At 29 February 2020

8,779

NET BOOK VALUE

At 29 February 2020

4,234

At 28 February 2019

5,645

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

3,420

4,316

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

5,000

5,000

Taxation and social security

17,782

26,168

Other creditors

204,077

165,331

226,859

196,499

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

11,876

17,219