Own Homes Lettings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05846922 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2020

for

Own Homes Lettings Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S J Harris

M A Notschild

SECRETARY:

S J Harris

REGISTERED OFFICE:

Second Floor

2 Walsworth Road

Hitchin

Hertfordshire

SG4 9SP

REGISTERED NUMBER:

05846922 (England and Wales)

ACCOUNTANTS:

D and E Accountancy Ltd

Tax Advisors and Accountants

2nd Floor, 2 Walsworth Road

Hitchin

Hertfordshire

SG4 9SP

CURRENT ASSETS

Debtors

4

74,171

15,331

Cash at bank

23,234

-

97,405

15,331

CREDITORS

Amounts falling due within one year

5

49,428

24,431

NET CURRENT ASSETS/(LIABILITIES)

47,977

(9,100

)

TOTAL ASSETS LESS CURRENT LIABILITIES

47,977

(9,100

)

CREDITORS

Amounts falling due after more than one year

6

40,000

-

NET ASSETS/(LIABILITIES)

7,977

(9,100

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

7,877

(9,200

)

SHAREHOLDERS' FUNDS

7,977

(9,100

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 27 May 2021 and were signed on its behalf by:

M A Notschild - Director

1.	STATUTORY INFORMATION

Own Homes Lettings 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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2019 - 4 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.20

31.8.19

£

£

Other debtors

74,171

15,331

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.20

31.8.19

£

£

Bank loans and overdrafts

-

292

Trade creditors

15,959

4,587

Taxation and social security

22,178

9,492

Other creditors

11,291

10,060

49,428

24,431

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.20

31.8.19

£

£

Bank loans

40,000

-

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.20

31.8.19

value:

£

£

100

Ordinary

£1

100

100

8.

RESERVES

Retained

earnings

£

At 1 September 2019

(9,200

)

Profit for the year

29,077

Dividends

(12,000

)

At 31 August 2020

7,877

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2020 and 31 August 2019:

31.8.20

31.8.19

£

£

M A Notschild

Balance outstanding at start of year

1,636

3,676

Amounts advanced

-

1,636

Amounts repaid

(1,636

)

(3,676

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

1,636

The director borrowing of £1,636 was repaid shortly after the year end.

10.	RELATED PARTY TRANSACTIONS

The company occupies the premises of its sister company. During the period the company was charged a total of £52,872 (last year £124,863), being the company's share of premises, promotional and labour costs.

11.	ULTIMATE CONTROL

The company is under the control of the directors, no individual has control of the company.