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Unaudited Financial Statements for the Year Ended 30 March 2019 |
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A House 2 Home Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 30 March 2019 |
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for |
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A House 2 Home Limited |
A House 2 Home Limited (Registered number: SC469475) |
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Contents of the Financial Statements |
for the Year Ended 30 March 2019 |
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Company Information | 1 |
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Chartered Accountants' Report | 2 |
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Statement of Financial Position | 3 |
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Notes to the Financial Statements | 5 |
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A House 2 Home Limited |
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Company Information |
for the Year Ended 30 March 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Westburn Business Centre |
McNee Road |
Prestwick |
Ayrshire |
KA9 2PB |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
A House 2 Home Limited |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
a Statement of Financial Position. Readers are cautioned that the Profit and loss and certain other primary |
statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of A House 2 Home Limited for the year ended 30 March 2019 which comprise the Profit & Loss |
Account, Statement of Financial Position and the related notes from the company's accounting records and from |
information and explanations you have given us. |
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As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance. |
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This report is made solely to the Board of Directors of A House 2 Home Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of A House 2 Home Limited and state those matters that we have agreed to state to the Board of Directors of A House 2 Home Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that A House 2 Home Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of A House 2 Home Limited. You consider that A House 2 Home Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of A House 2 Home Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Accountants |
Westburn Business Centre |
McNee Road |
Prestwick |
Ayrshire |
KA9 2PB |
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A House 2 Home Limited (Registered number: SC469475) |
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Statement of Financial Position |
30 March 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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Investment property | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Non Distributable |
Reserve | 8 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
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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. |
A House 2 Home Limited (Registered number: SC469475) |
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Statement of Financial Position - continued |
30 March 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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A House 2 Home Limited (Registered number: SC469475) |
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Notes to the Financial Statements |
for the Year Ended 30 March 2019 |
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1. | STATUTORY INFORMATION |
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A House 2 Home Limited is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" |
of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of |
Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost |
convention as modified by the revaluation of certain assets. |
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Going Concern |
The financial statements have been prepared on a going concern basis based upon the continued funding from an |
associated business in which the Directors' hold the entire issued share capital and the continued support of the |
Directors' themselves. |
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On this basis the accounts have been prepared on a going concern basis |
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Changes in accounting policies |
The Company has taken advantage of the option to early adopt the Amendments to FRS 102 Triennial review |
2017: Incremental improvements and clarifications, published by the Financial Reporting Council in December |
2017. This standard became effective for accounting periods commencing on or after 1 January 2019. |
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These amendments remove the requirement for the person or persons carrying out the valuation to be |
independent of the company and based on a strict revaluation cycle. The requirement going forward will be that |
at each balance sheet date the valuation should be considered by the Directors based on their knowledge of the |
sector and economic climate and impaired or uplifted accordingly. |
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Tangible fixed assets |
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Camper Vans | - |
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Tangible fixed assets are stated at cost less depreciation. |
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Investment property |
Under FRS 102, investment properties should be measured at their fair value at each reporting date, with changes |
in fair value recognised through the Profit & Loss Account. |
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The standard also requires the company to provide for deferred tax on the timing difference arising on the date of |
transition, which represents the full revaluation gain less indexed cost. The indexation allowances ceased on 1 |
January 2018. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, except |
to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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A House 2 Home Limited (Registered number: SC469475) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 March 2019 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
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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. |
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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. |
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Cash and cash equivalents |
Cash and cash equivalents comprise cash held by the company and short term bank deposits with an original |
maturity of three months or less from inception and are subject to insignificant risk of changes in value. |
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Impairment of fixed assets |
At each reporting date, the company reviews the carrying amounts of its tangible and intangible fixed assets to |
determine whether there is any indication that those assets have suffered an impairment loss. If any such |
indication exists, the recoverable amount of the asset is estimated in order to determine the amount of the |
impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the |
company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
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3. | TANGIBLE FIXED ASSETS |
Camper |
Vans |
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COST |
At 31 March 2018 |
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Additions |
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At 30 March 2019 |
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DEPRECIATION |
At 31 March 2018 |
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Charge for year |
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At 30 March 2019 |
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NET BOOK VALUE |
At 30 March 2019 |
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At 30 March 2018 |
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4. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 31 March 2018 |
and 30 March 2019 |
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NET BOOK VALUE |
At 30 March 2019 |
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At 30 March 2018 |
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A House 2 Home Limited (Registered number: SC469475) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 March 2019 |
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4. | INVESTMENT PROPERTY - continued |
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Fair value at 30 March 2019 is represented by: |
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£ |
Valuation in 2017 | 31,377 |
Cost | 63,623 |
95,000 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Amounts owed to associates | 109,940 | 60,272 |
Tax |
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Directors' loan accounts | 20,970 | 42,709 |
Accruals and deferred income |
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7. | PROVISIONS FOR LIABILITIES |
2019 | 2018 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
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Tax losses carried forward | ( |
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Other timing differences | 4,870 | 4,870 |
2,381 | 3,178 |
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Deferred |
tax |
£ |
Balance at 31 March 2018 |
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Credit to Profit and loss during year | ( |
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Balance at 30 March 2019 |
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8. | RESERVES |
Non |
Distributable |
Reserve |
£ |
At 31 March 2018 |
and 30 March 2019 |
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A House 2 Home Limited (Registered number: SC469475) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 March 2019 |
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9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 30 March 2019 and |
30 March 2018: |
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2019 | 2018 |
£ | £ |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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During the year the company received property management fees from the Directors' of £3,000 (2018: £3,000) in |
respect of the management services for personal properties. The amounts due the company at 31 March 2019 |
were Nil (2018: Nil). |
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10. | RELATED PARTY DISCLOSURES |
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During the year the company undertook net transactions of £49,668 with Varius Ltd, a company in which the |
directors own 100% of the issued share capital. As at 31 March 2019 a balance of £109,940 remains due by A |
House 2 Home Ltd (2018: £60,272). |
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11. | POST BALANCE SHEET EVENTS |
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The company purchased a second investment property post year end. |
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12. | ULTIMATE CONTROLLING PARTY |
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The company is under the joint control of Mr D Cooper and Ms L Gordon by virtue of their 100% shareholding |
in the company. |