BETTS HOME IMPROVEMENTS LIMITED - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 07117577 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2023

FOR

BETTS HOME IMPROVEMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

L G D Betts

REGISTERED OFFICE:

Turnpike House

1208/1210 London Road

Leigh on Sea

Essex

SS9 2UA

REGISTERED NUMBER:

07117577 (England and Wales)

ACCOUNTANTS:

Segrave & Partners LLP

Chartered Accountants

Turnpike House

1208/1210 London Road

Leigh on Sea

Essex

SS9 2UA

FIXED ASSETS

Tangible assets

4

20,922

27,830

CURRENT ASSETS

Debtors

5

17,777

15,952

Cash at bank

7,042

7,343

24,819

23,295

CREDITORS

Amounts falling due within one year

6

10,775

3,185

NET CURRENT ASSETS

14,044

20,110

TOTAL ASSETS LESS CURRENT LIABILITIES

34,966

47,940

CREDITORS

Amounts falling due after more than one year

7

20,550

26,150

NET ASSETS

14,416

21,790

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

14,316

21,690

SHAREHOLDERS' FUNDS

14,416

21,790

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2023 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 15 June 2023 and were signed by:

L G D Betts - Director

1.	STATUTORY INFORMATION

Betts Home Improvements 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 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.

Tools & equipment

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Tools &

Motor

equipment

vehicles

Totals

£

£

£

COST

At 6 April 2022

and 5 April 2023

2,749

51,097

53,846

DEPRECIATION

At 6 April 2022

1,745

24,271

26,016

Charge for year

201

6,707

6,908

At 5 April 2023

1,946

30,978

32,924

NET BOOK VALUE

At 5 April 2023

803

20,119

20,922

At 5 April 2022

1,004

26,826

27,830

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other debtors

17,298

15,281

VAT

479

671

17,777

15,952

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Tax

9,553

1,495

Social security and other taxes

-

728

Directors' current accounts

222

62

Accrued expenses

1,000

900

10,775

3,185

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans - 2-5 years

20,550

26,150