Home Sussex Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08853090 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2021

for

Home Sussex Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

D M Frizzell

J Anderson-Mann

Registered office:

85 Church Road

Hove

East Sussex

BN3 2BB

Registered number:

08853090 (England and Wales)

Accountants:

Wilson Sandford Limited

Chartered accountants

85 Church Road

Hove

East Sussex

BN3 2BB

Fixed assets

Tangible assets

4

1,502

490

Investments

5

2,025

2,025

3,527

2,515

Current assets

Debtors

6

3,966,451

2,708,574

Cash at bank

207,841

7,897

4,174,292

2,716,471

Creditors: amounts falling due within one year

7

4,114,401

2,655,178

Net current assets

59,891

61,293

Total assets less current liabilities

63,418

63,808

Creditors: amounts falling due after more than one year

8

38,145

44,124

Net assets

25,273

19,684

Capital and reserves

Called up share capital

9

1,000

1,000

Retained earnings

24,273

18,684

Shareholders' funds

25,273

19,684

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 September 2022 and were signed on its behalf by:

J Anderson-Mann - Director

1.	Statutory information

Home Sussex 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 presentation currency of the financial statements is in Pound Sterling (£) and rounding is to the nearest (£).

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.

Preparation of consolidated financial statements

The financial statements contain information about Home Sussex Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of VAT and discounts. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding and at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset’s net carrying amount on initial recognition.

Dividend income is recognised when the right to receive payment is established.

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 cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

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.

Leasing commitments

Rentals paid under operating leases are charged to profit or loss 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.

3.	Employees and directors

The average number of employees during the year was NIL (2020 - 2 ).

4.	Tangible fixed assets

Plant and

machinery

etc

£

Cost

At 1 January 2021

4,204

Additions

1,450

Disposals

(2,695

)

At 31 December 2021

2,959

Depreciation

At 1 January 2021

3,714

Charge for year

438

Eliminated on disposal

(2,695

)

At 31 December 2021

1,457

Net book value

At 31 December 2021

1,502

At 31 December 2020

490

5.	Fixed asset investments

Shares in

group

undertakin

£

Cost

At 1 January 2021

and 31 December 2021

2,025

Net book value

At 31 December 2021

2,025

At 31 December 2020

2,025

6.

Debtors: amounts falling due within one year

2021

2020

£

£

Trade debtors

1,908,467

629,023

Amounts owed by group undertakings

-

12,902

Other debtors

2,057,984

2,066,649

3,966,451

2,708,574

7.

Creditors: amounts falling due within one year

2021

2020

£

£

Bank loans and overdrafts

8,925

5,876

Trade creditors

185,782

85,115

Amounts owed to group undertakings

116,952

27,924

Taxation and social security

128,452

66,275

Other creditors

3,674,290

2,469,988

4,114,401

2,655,178

8.

Creditors: amounts falling due after more than one year

2021

2020

£

£

Bank loans

38,145

44,124

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

120

Ordinary A

£1

120

120

120

Ordinary B

£1

120

120

760

Ordinary C

£1

760

760

1,000

1,000

10.	Related party disclosures

Within creditors is £55,083 (2020 - £203,827) owed to the directors.