Homes Made Simple Limited - Period Ending 2018-02-28

Registration number: 09999603

Homes Made Simple Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2018

Grenfell James Associates Limited
13 The Courtyard
Timothys Bridge Road
Stratford Upon Avon
Warwickshire
CV37 9NP

Homes Made Simple Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 7

Homes Made Simple Limited

Company Information

Directors

A Ong VE Aizlewood

Registered office

Suites 7-8 Raglan House William Brown Close Llantarnam Industrial Park Cwmbran Gwent NP44 3AB

Registered number

09999603

Accountants

Grenfell James Associates Limited 13 The Courtyard Timothys Bridge Road Stratford Upon Avon Warwickshire CV37 9NP

Page 1

Homes Made Simple Limited

(Registration number: 09999603)
Balance Sheet as at 28 February 2018

	Note	2018 £	2017 £
Fixed assets
Tangible assets	4	7,527	8,932
Current assets
Stocks	5	140,000	96,912
Debtors	6	22,152	-
Cash at bank and in hand		22,519	9,340
		184,671	106,252
Creditors: Amounts falling due within one year	7	(159,905)	(107,427)
Net current assets/(liabilities)		24,766	(1,175)
Net assets		32,293	7,757
Capital and reserves
Called up share capital		100	100
Profit and loss account		32,193	7,657
Total equity		32,293	7,757

For the financial year ending 28 February 2018 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 and the option not to file the Profit and Loss Account has been taken.

The notes on pages 4 to 7 form an integral part of these financial statements.

Page 2

Homes Made Simple Limited

(Registration number: 09999603)
Balance Sheet as at 28 February 2018

Approved and authorised by the Board on 26 November 2018 and signed on its behalf by:
 

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

A Ong

Director

The notes on pages 4 to 7 form an integral part of these financial statements.

Page 3

Homes Made Simple Limited

Notes to the Financial Statements for the Year Ended 28 February 2018

1	General information

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

The company's registered number and registered office address can be found on the Company Information page.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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
Plant & machinery	25% on reducing balance

Page 4

Homes Made Simple Limited

Notes to the Financial Statements for the Year Ended 28 February 2018

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2017 - 3).

Page 5

Homes Made Simple Limited

Notes to the Financial Statements for the Year Ended 28 February 2018

4	Tangible assets

	Fixtures and fittings £	Total £
Cost or valuation
At 1 March 2017	11,909	11,909
Additions	1,104	1,104
At 28 February 2018	13,013	13,013
Depreciation
At 1 March 2017	2,977	2,977
Charge for the year	2,509	2,509
At 28 February 2018	5,486	5,486
Carrying amount
At 28 February 2018	7,527	7,527
At 28 February 2017	8,932	8,932

5

Stocks

	2018 £	2017 £
Work in progress	140,000	96,912

6

Debtors

	2018 £	2017 £
Other debtors	22,152	-
	22,152	-

Page 6

Homes Made Simple Limited

Notes to the Financial Statements for the Year Ended 28 February 2018

7

Creditors

Creditors: amounts falling due within one year

	2018 £	2017 £
Due within one year
Taxation and social security	10,380	4,774
Accruals and deferred income	126,000	82,730
Other creditors	23,525	19,923
	159,905	107,427

Page 7