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Unaudited Financial Statements for the Year Ended 30 March 2021 |
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A House 2 Home Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 30 March 2021 |
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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 2021 |
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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 2021 |
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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 2021 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 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
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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CREDITORS |
Amounts falling due after more than one
year |
7 |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Non Distributable |
Reserve | 9 |
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Retained earnings |
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( |
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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 |
(b) | 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 2021 |
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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 and authorised for issue on
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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 2021 |
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1. | STATUTORY INFORMATION |
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A House 2 Home Limited is a
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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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COVID-19 |
At the date of signing these financial statements the Coronavirus Pandemic is still having a Global impact. The company continues to operate in a restricted way during this period. Whilst the overall impact still remains uncertain for the UK economy the Directors believe that with the steps which have been taken, ongoing Government support and the commitment of all staff and the loyalty of customers, that the business will be in a position to come through this period and continue in operation for the next year and beyond. |
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Turnover/revenue recognition |
Sales comprise the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of the Company's activities. |
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Sales are presented, net of value-added tax, rebates and discounts. |
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The Company recognises revenue when the amount of revenue and related cost can be reliably measured, it is probable that the collectability of the related receivables is reasonably assured and when the specific criteria for each of the Company's activities are met. |
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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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A House 2 Home Limited (Registered number: SC469475) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 March 2021 |
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2. | ACCOUNTING POLICIES - continued |
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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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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Financial instruments |
Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality. |
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The company has two main categories of financial instruments, which are loans and other receivables and other financial liabilities: |
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Loans and other receivables |
Loans and other receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Upon recognition, these assets are measured at fair value less directly related transaction expenses. In successive periods these are measured at amortised cost, and any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value less any allowance for credit losses. |
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Other financial liabilities |
Other financial liabilities are recognised initially at fair value, net of transaction costs incurred. In successive periods these are measured at amortised cost. Any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value. |
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Impairment of financial instruments |
A provision for impairment is established when there is objective evidence that, as a result of one or more events that occurred after the initial recognition, the estimated future cash flows have been impacted. |
A House 2 Home Limited (Registered number: SC469475) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 March 2021 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Camper |
Vans |
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COST |
At 31 March 2020 |
and 30 March 2021 |
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DEPRECIATION |
At 31 March 2020 |
and 30 March 2021 |
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NET BOOK VALUE |
At 30 March 2021 |
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At 30 March 2020 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 31 March 2020 |
and 30 March 2021 |
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NET BOOK VALUE |
At 30 March 2021 |
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At 30 March 2020 |
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Fair value at 30 March 2021 is represented by: |
£ |
Valuation in 2017 | 31,377 |
Cost | 220,865 |
252,242 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Amounts owed to associates | 87,035 | 87,035 |
Taxation and social security |
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Other creditors |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2021 | 2020 |
£ | £ |
Bank loans |
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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 2021 |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
2021 | 2020 |
£ | £ |
Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 112,500 | 112,500 |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2021 | 2020 |
£ | £ |
Bank loans |
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The Bank loan is secured by way of a standard security over one of the company's investment properties. |
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9. | RESERVES |
Non |
Distributable |
Reserve |
£ |
At 31 March 2020 |
and 30 March 2021 |
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10. | RELATED PARTY DISCLOSURES |
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During prior years the company undertook transactions with Varius Ltd, a company in which the directors own 100% of the issued share capital. As at 31 March 2021 a balance of £87,035 remains due by A House 2 Home Ltd (2020: £87,035). This amount is interest free and repayable on demand. |
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11. | 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. |