Accounts filed on 31-03-2015
Accounts filed on 31-03-2015
trueHome Megastore Limited088659072015-03-31-110245-1102441-110244-110244-654616124114158652522227634822516024544372544372Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the period, exclusive of Value Added Tax.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance
for obsolete and slow moving items.
Fixed Assets
All fixed assets are initially recorded at cost.
Land & BuildingsStraight line over 20 years0.0000Plant & MachineryReducing balance0.2000Fixtures & FittingsReducing balance0.200057321557321528843288435732155732152884328843Willoughby (609) Limited hold two unlimited debentures creating a fixed and floating charge over all assets of the company including the freehold property. The loan of £700,000 is repayable on demand. Interest charged of 10% per annum is payable on a monthly basis. Willoughby (609) Limited hold a personal guarantee from Mrs Leanne Hughes and Mr James Hughes for £500,000 for the loan. Ordinary1110Ordinary111Ordinary shares1111Ultimate parent company
Willoughby (609) Limited is the majority shareholder of Home Megastore Limited and holds 100% of the share capital.Going concern
The company has found trading conditions difficult as more competitors enter the market and customers seek ever cheaper supplies. The business has the continued support of the directors and therefore the accounts have been prepared on a going concern basis.2015-10-28Mr J Hughestruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureHome Megastore Limited2014-04-012015-03-31Home Megastore Limited2013-04-012014-03-31Home Megastore Limited2013-03-31Home Megastore Limited2014-03-31Home Megastore Limited2014-03-31Home Megastore Limited2015-03-31 2015-10-28
