Homes 3 Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05152869 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020

FOR

HOMES 3 LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr NJ Wood

Mr R Wild

REGISTERED OFFICE:

Rosedale Cottage

Belleau

Alford

Lincolnshire

LN13 0BW

REGISTERED NUMBER:

05152869 (England and Wales)

ACCOUNTANTS:

Blow Abbott Limited

36 High Street

Cleethorpes

North East Lincs

DN35 8JN

FIXED ASSETS

Tangible assets

4

150,000

150,000

CURRENT ASSETS

Cash at bank

2,907

1,097

CREDITORS

Amounts falling due within one year

5

74,845

72,131

NET CURRENT LIABILITIES

(71,938

)

(71,034

)

TOTAL ASSETS LESS CURRENT LIABILITIES

78,062

78,966

CREDITORS

Amounts falling due after more than one year

6

46,088

52,113

NET ASSETS

31,974

26,853

CAPITAL AND RESERVES

Called up share capital

7

300

300

Revaluation reserve

8

(2,562

)

(2,562

)

Retained earnings

34,236

29,115

SHAREHOLDERS' FUNDS

31,974

26,853

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 5 March 2021 and were signed on its behalf by:

Mr NJ Wood - Director

Mr R Wild - Director

1.	STATUTORY INFORMATION

Homes 3 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST OR VALUATION

At 1 July 2019

and 30 June 2020

150,000

NET BOOK VALUE

At 30 June 2020

150,000

At 30 June 2019

150,000

Cost or valuation at 30 June 2020 is represented by:

Freehold

property

£

Valuation in 2020

150,000

If the freehold property had not been revalued it would have been included at the following historical cost:

2020

2019

£

£

Cost

200,000

200,000

Freehold property was valued on an open market basis on 17 October 2019 by Turner Evans Stevens .

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

7,600

7,185

Tax

1,201

1,239

Directors' current accounts

65,480

63,167

Accrued expenses

564

540

74,845

72,131

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans - 1-2 years

46,088

52,113

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

300

Ordinary

£1

300

300

8.

RESERVES

Revaluation

reserve

£

At 1 July 2019

and 30 June 2020

(2,562

)

9.	RELATED PARTY DISCLOSURES

As at 30 June 2020 the company owed the Directors £65,480 (30 June 2019 £63,167). No interest is payable on the loan.