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

REGISTERED NUMBER: 06806903 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28TH FEBRUARY 2021

FOR

INTUITIVE HOMES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr S Nevison

SECRETARY:

Mrs E Nevison

REGISTERED OFFICE:

Charter House

Stansfield Street

Nelson

Lancashire

BB9 9XY

REGISTERED NUMBER:

06806903 (England and Wales)

ACCOUNTANTS:

Ainsworths Limited

Chartered Accountants

Charter House

Stansfield Street

Nelson

Lancashire

BB9 9XY

FIXED ASSETS

Tangible assets

4

6,299

5,954

CURRENT ASSETS

Stocks

15,700

15,700

Debtors

5

19,580

25,458

Cash at bank

61,721

59,130

97,001

100,288

CREDITORS

Amounts falling due within one year

6

70,344

66,156

NET CURRENT ASSETS

26,657

34,132

TOTAL ASSETS LESS CURRENT LIABILITIES

32,956

40,086

PROVISIONS FOR LIABILITIES

1,197

1,131

NET ASSETS

31,759

38,955

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

31,659

38,855

SHAREHOLDERS' FUNDS

31,759

38,955

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 26th January 2022 and were signed by:

Mr S Nevison - Director

1.	STATUTORY INFORMATION

Intuitive Homes 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 represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 1 (2020 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st March 2020

10,561

Additions

3,790

Disposals

(3,884

)

At 28th February 2021

10,467

DEPRECIATION

At 1st March 2020

4,607

Charge for year

3,192

Eliminated on disposal

(3,631

)

At 28th February 2021

4,168

NET BOOK VALUE

At 28th February 2021

6,299

At 29th February 2020

5,954

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.21

29.2.20

£

£

Trade debtors

7,897

3,865

Other debtors

11,683

21,593

19,580

25,458

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.21

29.2.20

£

£

Trade creditors

2,280

-

Taxation and social security

20,339

21,175

Other creditors

47,725

44,981

70,344

66,156