Homebody Limited

B S Calvert S Manning

10497862 (England and Wales)

12 Blenheim Road London NW8 0LU

Balmoral Consultancy Services Limited Congress House 14 Lyon Road Harrow Middlesex HA1 2EN

Tangible assets

2,037 

2,717 

Inventories

20,295 

16,702 

Debtors

86,974 

80,644 

Cash at bank and in hand

96,417 

51,501 

(176,838)

(155,249)

Called up share capital

1 

1 

Share premium

149,999 

149,999 

Profit and loss account

(121,115)

(153,685)

For the year ending 31 December 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 financial statements were approved by the Board of Directors and authorised for issue on 3 May 2024 and were signed on its behalf by

B S Calvert Director Company Registration No. 10497862

Homebody Limited is a private company, limited by shares, registered in England and Wales, registration number 10497862. The registered office is 12 Blenheim Road, London, NW8 0LU.

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.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: - the Company has transferred the significant risks and rewards of ownership to the buyer; - the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; - the amount of revenue can be measured reliably; - it is probable that the Company will receive the consideration due under the transaction; and - the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Interest income is recognised in the Statement of income and retained earnings using the effective interest method.

Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Goodwill Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer's interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of income and retained earnings over its useful economic life. Other intangible assets Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years. The estimated useful lives range as follows: Goodwill - 5 year

Computer equipment

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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.

At 1 January 2023

150,000 

At 31 December 2023

At 1 January 2023

150,000 

At 31 December 2023

At 31 December 2023

At cost 

At 1 January 2023

7,986 

At 31 December 2023

At 1 January 2023

5,269 

Charge for the year

680 

At 31 December 2023

At 31 December 2023

At 31 December 2022

Trade debtors

59,514 

43,184 

Other debtors

27,460 

37,460 

VAT

10,313 

14,592 

Trade creditors

13,099 

2,157 

Taxes and social security

5,926 

- 

Other creditors

146,000 

137,000 

Accruals

1,500 

1,500 

During the year the average number of employees was 2 (2022: 2).