Homeglade Limited - Period Ending 2015-01-31

Registration number: 03694358

Homeglade Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 January 2015
 

Beever and Struthers
Chartered Accountants
St. Georges House
215-219 Chester Road
Manchester
Lancashire
M15 4JE

Homeglade Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Homeglade Limited
(Registration number: 03694358)
Abbreviated Balance Sheet at 31 January 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					300,371			300,495
Current assets
Cash at bank and in hand					2,046			560
Creditors: Amounts falling due within one year					(48,148)			(43,365)
Net current liabilities					(46,102)			(42,805)
Total assets less current liabilities					254,269			257,690
Creditors: Amounts falling due after more than one year					(28,120)			(46,204)
Net assets					226,149			211,486
Capital and reserves
Called up share capital		4			100			100
Revaluation reserve					159,415			159,415
Profit and loss account					66,634			51,971
Shareholders' funds					226,149			211,486

For the year ending 31 January 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 27 October 2015

......................................... Mr G J Riding Director

The notes on pages 2 to 3 form an integral part of these financial statements.
  Page 1

Homeglade Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	25% reducing balance

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

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Homeglade Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 February 2014		320,211			320,211
At 31 January 2015		320,211			320,211
Depreciation
At 1 February 2014		19,716			19,716
Charge for the year		124			124
At 31 January 2015		19,840			19,840
Net book value
At 31 January 2015		300,371			300,371
At 31 January 2014		300,495			300,495

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		17,799			17,557
Amounts falling due after more than one year		28,120			46,204
Total secured creditors		45,919			63,761

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Oridnary Shares of £1 each		100			100			100			100

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