House Force One Consulting Ltd - Period Ending 2023-04-30

House Force One Consulting Ltd - Period Ending 2023-04-30


House Force One Consulting Ltd 11965259 false 2022-05-01 2023-04-30 2023-04-30 The principal activity of the company is real estate consulting Digita Accounts Production Advanced 6.30.9574.0 true true 11965259 2022-05-01 2023-04-30 11965259 2023-04-30 11965259 core:CurrentFinancialInstruments 2023-04-30 11965259 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 11965259 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 11965259 core:FurnitureFittingsToolsEquipment 2023-04-30 11965259 bus:SmallEntities 2022-05-01 2023-04-30 11965259 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 11965259 bus:FullAccounts 2022-05-01 2023-04-30 11965259 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 11965259 bus:RegisteredOffice 2022-05-01 2023-04-30 11965259 bus:Director1 2022-05-01 2023-04-30 11965259 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 11965259 core:FurnitureFittingsToolsEquipment 2022-05-01 2023-04-30 11965259 core:OfficeEquipment 2022-05-01 2023-04-30 11965259 countries:EnglandWales 2022-05-01 2023-04-30 11965259 2022-04-30 11965259 core:FurnitureFittingsToolsEquipment 2022-04-30 11965259 2021-05-01 2022-04-30 11965259 2022-04-30 11965259 core:CurrentFinancialInstruments 2022-04-30 11965259 core:CurrentFinancialInstruments core:WithinOneYear 2022-04-30 11965259 core:Non-currentFinancialInstruments core:AfterOneYear 2022-04-30 11965259 core:FurnitureFittingsToolsEquipment 2022-04-30 iso4217:GBP xbrli:pure

Registration number: 11965259

House Force One Consulting Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2023

Pages for Filing with Registrar

 

House Force One Consulting Ltd

(Registration number: 11965259)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

418

1,197

Current assets

 

Debtors

6

3,247

15,684

Cash at bank and in hand

 

212

310

 

3,459

15,994

Creditors: Amounts falling due within one year

7

(15,397)

(13,801)

Net current (liabilities)/assets

 

(11,938)

2,193

Total assets less current liabilities

 

(11,520)

3,390

Creditors: Amounts falling due after more than one year

7

(24,111)

(34,022)

Net liabilities

 

(35,631)

(30,632)

Capital and reserves

 

Called up share capital

2

2

Retained earnings

(35,633)

(30,634)

Shareholders' deficit

 

(35,631)

(30,632)

 

House Force One Consulting Ltd

(Registration number: 11965259)
Balance Sheet as at 30 April 2023

For the financial year ending 30 April 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 January 2024 and signed on its behalf by:
 

.........................................

S Passingham
Director

 

House Force One Consulting Ltd

Notes to the Financial Statements for the Year Ended 30 April 2023

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

Principal activity

The principal activity of the company is real estate consulting.

The address of its registered office is:
114 St Martin's Lane
Covent Garden
London
WC2N 4BE
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company made a loss in the year and has net current liabilities. The company is dependent on the support from the shareholders to continue as a going concern.

The financial statements have been prepared on a going concern basis that assumes further funding will be obtained.

 

House Force One Consulting Ltd

Notes to the Financial Statements for the Year Ended 30 April 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% straight line

 

House Force One Consulting Ltd

Notes to the Financial Statements for the Year Ended 30 April 2023

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, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors

Basic financial assets, including trade and other debtors, are intially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

 

House Force One Consulting Ltd

Notes to the Financial Statements for the Year Ended 30 April 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Significant judgements and estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Directors' opinion there are no significant judgements or key sources of estimation uncertainty.

4

Staff numbers

The average number of persons employed by the Company (including directors) during the year, was 2 (2022 - 2).

 

House Force One Consulting Ltd

Notes to the Financial Statements for the Year Ended 30 April 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2022

3,116

3,116

At 30 April 2023

3,116

3,116

Depreciation

At 1 May 2022

1,919

1,919

Charge for the year

779

779

At 30 April 2023

2,698

2,698

Carrying amount

At 30 April 2023

418

418

At 30 April 2022

1,197

1,197

6

Debtors

Current

2023
£

2022
£

Prepayments

179

129

Other debtors

3,068

15,555

 

3,247

15,684

 

House Force One Consulting Ltd

Notes to the Financial Statements for the Year Ended 30 April 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Bank loans and overdrafts

9,911

9,666

Trade creditors

-

760

Amounts owed to group undertakings and undertakings in which the company has a participating interest

3,586

-

Other creditors

1,900

3,375

Due after one year

Loans and borrowings

24,111

34,022

39,508

47,823

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

24,111

34,022

Included in loans and other borrowing is a Bounce Back loan which accures interest at 2.82%. As at 30 April 2023 the total balance payable was £34,022 (2022: 43,688).

8

Related party transactions

During the year the directors received advances from the company amounting to £nil, (2022: £4,173), made payment on behalf of the company of £14,480, (2022: £900). At the balance sheet date the amount due to the directors amounted to £3,586 (2022: £10,894 owed from the directors).