REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 20 MARCH 2022 TO 31 MARCH 2023 |
FOR |
HOMAFARAN LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 20 MARCH 2022 TO 31 MARCH 2023 |
FOR |
HOMAFARAN LIMITED |
HOMAFARAN LIMITED (REGISTERED NUMBER: 13990520) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 20 MARCH 2022 TO 31 MARCH 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
HOMAFARAN LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 20 MARCH 2022 TO 31 MARCH 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants & Business Advisers |
20 Havelock Road |
Hastings |
East Sussex |
TN34 1BP |
HOMAFARAN LIMITED (REGISTERED NUMBER: 13990520) |
BALANCE SHEET |
31 MARCH 2023 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
6 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
7 |
NET LIABILITIES | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
HOMAFARAN LIMITED (REGISTERED NUMBER: 13990520) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 20 MARCH 2022 TO 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
Homafaran Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The directors have made an assessment about the company's ability to continue as a going concern and they do not consider there to be any material uncertainties. As a result they have adopted the going concern basis of accounting. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the period 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. |
Current or deferred taxation assets and liabilities are not discounted. |
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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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 period end and that are expected to apply to the reversal of the timing difference. |
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. |
Going concern |
Although current liabilities exceed current assets, the company has the full support of the directors who are directly and indirectly the main creditors and the intention is to trade as normal going forward. The accounts have therefore been prepared on the assumption that the company will continue to trade for more than 12 months. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL. |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
HOMAFARAN LIMITED (REGISTERED NUMBER: 13990520) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 20 MARCH 2022 TO 31 MARCH 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other debtors |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Other loans |
Trade creditors |
Other creditors |
Directors' current accounts | 10,000 |
Accruals and deferred income |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Other loans - 1-2 years |
Other loans - 2-5 years | 38,451 |
Other loans more 5yrs instal | 364,448 |
Directors' loan accounts | 332,591 |
Amounts falling due in more than five years: |
Repayable by instalments |
Other loans more 5yrs instal | 364,448 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
£ |
The Mortgage Works | 426,646 |
The Mortgage works hold a general charge over the property which was not satisfied at the year end date. |
9. | RELATED PARTY DISCLOSURES |
At the year end the company owed the director £342,214, this is shown as £10,000 being a current liability with the remainder being non-current. The loan is interest free and has no terms attached. |
The company owes £10,000 to Stratec-AI Ltd at the year end, a company under common control. |