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REGISTERED NUMBER:
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HOMEDREAM LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2018 |
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REGISTERED NUMBER:
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HOMEDREAM LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2018 |
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HOMEDREAM LIMITED (REGISTERED NUMBER: SC219518) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 May 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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HOMEDREAM LIMITED |
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COMPANY INFORMATION |
For The Year Ended 31 May 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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16 Royal Crescent |
Glasgow |
G3 7SL |
HOMEDREAM LIMITED (REGISTERED NUMBER: SC219518) |
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BALANCE SHEET |
31 May 2018 |
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31.5.18 | 31.5.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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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 | 8 | ( |
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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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Fair value reserve |
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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 |
(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. |
HOMEDREAM LIMITED (REGISTERED NUMBER: SC219518) |
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BALANCE SHEET - continued |
31 May 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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HOMEDREAM LIMITED (REGISTERED NUMBER: SC219518) |
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NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 May 2018 |
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1. | STATUTORY INFORMATION |
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Homedream Limited is a
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registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents rental income and the cost of services recharged for the year, excluding value added tax. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Investment properties |
Land and buildings are classified as investment property when the property is held to earn rentals or for capital appreciation |
or both. Investment property is initially measured at cost which comprises purchase price and any directly attributable |
expenditure, and subsequently remeasured to fair value at each reporting date with changes in fair value recognised in profit |
or loss. |
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Financial instruments |
Basic financial liabilities, including trade and other payables, bank loans and other loans that are classified as debt, are |
initially recognised at transaction price and are subsequently carried at amortised cost, using the effective interest rate |
method. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet 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 balance sheet 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. |
HOMEDREAM LIMITED (REGISTERED NUMBER: SC219518) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 May 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are |
charged to profit or loss in the period to which they relate. |
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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 |
Plant and |
machinery |
etc |
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COST |
At 1 June 2017 |
and 31 May 2018 |
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DEPRECIATION |
At 1 June 2017 |
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Charge for year |
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At 31 May 2018 |
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NET BOOK VALUE |
At 31 May 2018 |
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At 31 May 2017 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 June 2017 |
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Additions |
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Revaluations | (601,615 | ) |
At 31 May 2018 |
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NET BOOK VALUE |
At 31 May 2018 |
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At 31 May 2017 |
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HOMEDREAM LIMITED (REGISTERED NUMBER: SC219518) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 May 2018 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.18 | 31.5.17 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.18 | 31.5.17 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.5.18 | 31.5.17 |
£ | £ |
Bank loans |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans | 203,721 | 279,083 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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31.5.18 | 31.5.17 |
£ | £ |
Bank loans |
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The company has provided its bankers with a bond and floating charge over the company's assets and a standard security |
over the company's property for bank borrowings. |
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10. | RELATED PARTY DISCLOSURES |
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Included in other creditors at 31 May 2018 are interest free loans to the company from the directors of £124,572 (2017, |
£52,472). There are no fixed repayment terms for these loans. |
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