Home2Sell (Derbyshire) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07796047 (England and Wales)

Financial Statements for the Year Ended 31 October 2020

for

Home2Sell (Derbyshire) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J D Walker

D L Walker

REGISTERED OFFICE:

33a High Street

Belper

Derbyshire

DE56 1GF

REGISTERED NUMBER:

07796047 (England and Wales)

ACCOUNTANTS:

NRB Accountancy Limited

33A High Street

Belper

Derbyshire

DE56 1GF

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

55,852

56,352

Investments

6

175

175

56,027

56,527

CURRENT ASSETS

Debtors

7

67,628

54,344

Cash at bank

50,569

10,551

118,197

64,895

CREDITORS

Amounts falling due within one year

8

157,830

119,918

NET CURRENT LIABILITIES

(39,633

)

(55,023

)

TOTAL ASSETS LESS CURRENT LIABILITIES

16,394

1,504

PROVISIONS FOR LIABILITIES

351

446

NET ASSETS

16,043

1,058

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

16,041

1,056

SHAREHOLDERS' FUNDS

16,043

1,058

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 February 2021 and were signed on its behalf by:

D L Walker - Director

1.	STATUTORY INFORMATION

Home2Sell (Derbyshire) 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of five years.

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.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year 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 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 7 (2019 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2019

and 31 October 2020

500

AMORTISATION

At 1 November 2019

and 31 October 2020

500

NET BOOK VALUE

At 31 October 2020

-

At 31 October 2019

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 November 2019

54,008

9,666

63,674

Additions

-

115

115

At 31 October 2020

54,008

9,781

63,789

DEPRECIATION

At 1 November 2019

-

7,322

7,322

Charge for year

-

615

615

At 31 October 2020

-

7,937

7,937

NET BOOK VALUE

At 31 October 2020

54,008

1,844

55,852

At 31 October 2019

54,008

2,344

56,352

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 November 2019

and 31 October 2020

175

NET BOOK VALUE

At 31 October 2020

175

At 31 October 2019

175

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.20

31.10.19

£

£

Trade debtors

10,957

12,107

Other debtors

56,671

42,237

67,628

54,344

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.20

31.10.19

£

£

Bank loans and overdrafts

92,310

45,214

Trade creditors

12,614

23,664

Taxation and social security

45,036

37,434

Other creditors

7,870

13,606

157,830

119,918

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the directors, Mr D Walker and Mrs J Walker, introduced funds to and withdrew funds from the company by way of a director's loan account. At the year end the directors owed the company £50,840 (2019: £37,870) and this amount is included in debtors.The maximum balance outstanding during the year was £72,708. Interest of £951 has been charged at the official rate of interest.

10.	ULTIMATE CONTROLLING PARTY

The company is jointly controlled by the directors, Mr D Walker and Mrs J Walker, by virtue of their majority holding of the issued share capital of the company.