Company Registration No. 09025203 (England and Wales)
HOMEFIX LONDON LTD.
Unaudited accounts
for the year ended 31 May 2023
HOMEFIX LONDON LTD.
Unaudited accounts
Contents
HOMEFIX LONDON LTD.
Company Information
for the year ended 31 May 2023
Directors
Matthew Wood
Jonathan Hindi
Company Number
09025203 (England and Wales)
Registered Office
117a
117a St. Johns Hill,
Sevenoaks
TN13 3PE
Accountants
Taxacc Solutions Ltd
117A St. John's Hill
Sevenoaks
Kent
TN13 3PE
HOMEFIX LONDON LTD.
Statement of financial position
as at 31 May 2023
Tangible assets
9,261
11,650
Cash at bank and in hand
23,577
(9,805)
Creditors: amounts falling due within one year
(36,428)
(17,939)
Net current assets/(liabilities)
29,097
(2,730)
Total assets less current liabilities
38,358
8,920
Creditors: amounts falling due after more than one year
(6,000)
(8,407)
Called up share capital
100
100
Profit and loss account
32,258
413
Shareholders' funds
32,358
513
For the year ending 31 May 2023 the company was entitled to exemption from audit 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 February 2024 and were signed on its behalf by
Matthew Wood
Director
Company Registration No. 09025203
HOMEFIX LONDON LTD.
Notes to the Accounts
for the year ended 31 May 2023
HOMEFIX LONDON LTD. is a private company, limited by shares, registered in England and Wales, registration number 09025203. The registered office is 117a , 117a St. Johns Hill,, Sevenoaks, TN13 3PE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
HOMEFIX LONDON LTD.
Notes to the Accounts
for the year ended 31 May 2023
The company meets its day-to-day working capital requirements through its bank facilities. The current economic conditions continue to create uncertainty over (a) the level of demand for the company’s products. (b) the availability of bank finance for the foreseeable future.
The current and future financial position of the Company, its cash flows and liquidity position has been reviewed by the directors. These have been prepared with a very prudent view of the likely gradual recovery in each of the Company's operating locations and have been stress tested to ensure that cash flows and liquidity are sufficiently robust to allow the Company to continue to trade during this period.
The company’s forecasts and projections, taking into account a severe but plausible change in trading performance, show that the company should be able to operate within the level of its current facilities. After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company, therefore, continues to adopt the going concern basis in preparing its financial statements.
4
Tangible fixed assets
Motor vehicles
Amounts falling due within one year
Trade debtors
24,516
12,350
Accrued income and prepayments
976
209
Other debtors
16,456
10,343
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
3,000
3,252
Taxes and social security
23,391
11,325
Loans from directors
395
457
HOMEFIX LONDON LTD.
Notes to the Accounts
for the year ended 31 May 2023
7
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Operating lease commitments
2023
2022
At 31 May 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
2,508
-
Later than one year and not later than five years
7,315
-
10
Transactions with related parties
Amount due to a related party at the balance sheet date was £395 (2022 : £457)
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Average number of employees
During the year the average number of employees was 3 (2022: 1).
