HOME FUNDING LIMITED 31/12/2021 iXBRL

HOME FUNDING LIMITED 31/12/2021 iXBRL

HOME FUNDING LIMITED - Company Information

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HOME FUNDING LIMITED
Unaudited filleted financial statements
31 December 2021
Company registration number 05497754
HOME FUNDING LIMITED
Contents
Statement of financial position
Notes to the financial statements
HOME FUNDING LIMITED
Statement of financial position
31 December 2021
2021 2020
Note £ £ £ £
Current assets
Debtors 4 5,778 6,325
Cash at bank and in hand 13,596 12,042
_______ _______
19,374 18,367
Creditors: amounts falling due
within one year 5 ( 580) ( 1,025)
_______ _______
Net current assets 18,794 17,342
_______ _______
Total assets less current liabilities 18,794 17,342
_______ _______
Net assets 18,794 17,342
_______ _______
Capital and reserves
Called up share capital 16,000 16,000
Profit and loss account 2,794 1,342
_______ _______
Shareholders funds 18,794 17,342
_______ _______
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 30 March 2022 , and are signed on behalf of the board by:
A J Ward
Director
Company registration number: 05497754
HOME FUNDING LIMITED
Notes to the financial statements
Year ended 31 December 2021
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Maynards Farmhouse, Appledore Road, Leigh Green, Tenterden, Kent, TN30 7DE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These accounts have been prepared on the going concern basis.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.
4. Debtors
2021 2020
£ £
Other debtors 5,778 6,325
_______ _______
5. Creditors: amounts falling due within one year
2021 2020
£ £
Other creditors 580 1,025
_______ _______
6. Controlling party
There is no ultimate controlling party .