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Registration number: 11243066

Homezzz Limited

Financial Statements

for the Year Ended 31 March 2023

 

Homezzz Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 5

 

Homezzz Limited

(Registration number: 11243066)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

1,768,844

1,768,844

Current assets

 

Debtors

5

1,996,367

846,817

Cash at bank and in hand

 

95

79

 

1,996,462

846,896

Creditors: Amounts falling due within one year

6

(1,794,765)

(638,415)

Net current assets

 

201,697

208,481

Net assets

 

1,970,541

1,977,325

Capital and reserves

 

Called up share capital

200

200

Share premium reserve

1,999,900

1,999,900

Profit and loss account

(29,559)

(22,775)

Shareholders' funds

 

1,970,541

1,977,325

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 September 2023 and signed on its behalf by:
 

.........................................
Mr SA Ismail
Director

 

Homezzz Limited

Notes to the Financial Statements for the Year Ended 31 March 2023

1

General information

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

The address of its registered office is:
Northgate
118 North Street
Leeds
LS2 7PN
England

These financial statements were authorised for issue by the Board on 27 September 2023.

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 smaller entities - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through funds provided by the parent company. The directors consider that these facilities will continue to be made available to the company. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would result if the going concern basis were not appropriate.

Audit report
The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 27 September 2023 was Matthew Geoffrey Price, who signed for and on behalf of Alextra Audit Limited.

Exemption from preparing group accounts

The company has taken advantage of the exemption in section 400 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that company is included within the consolidated financial statements of their parent company, Salboy Limited, a company registered in England and Wales, company number 09123542, registered office Unit 3 Birchwood One Business Park, Dewhurst Road, Birchwood, Warrington, England WA3 7GB.
 

 

Homezzz Limited

Notes to the Financial Statements for the Year Ended 31 March 2023

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Homezzz Limited

Notes to the Financial Statements for the Year Ended 31 March 2023

4

Investments

2023
£

2022
£

Investments in subsidiaries

1,768,844

1,768,844

Subsidiaries

£

Cost or valuation

At 1 April 2022

1,768,844

Carrying amount

At 31 March 2023

1,768,844

At 31 March 2022

1,768,844

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the group holds 20% or more of the nominal value of any class of share capital are as follows:

Proportion of voting rights

Undertaking

Holding

and shares held

Principal Activity

Subsidiary undertaking

2023

2022

Naples Street Properties Limited

Ordinary

100%

100%

Development of building projects

Naples Street Properties 1 Limited

Indirect

100%

0%

Sale of real estate

Naples Street Properties 2 Limited

Indirect

100%

0%

Sale of real estate

All companies listed above hold the registered office of:
Unit 3
Birchwood One Business Park
Dewhurst Road
Birchwood
Warrington
England
WA3 7GB
England and Wales

 

Homezzz Limited

Notes to the Financial Statements for the Year Ended 31 March 2023

5

Debtors

2023
£

2022
£

Owed by group undertakings

1,996,253

846,717

Prepayments

 

14

-

Other debtors

 

100

100

 

1,996,367

846,817

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Owed to group undertakings

1,789,515

633,915

Accruals

5,250

4,500

1,794,765

638,415

7

Parent and ultimate parent undertaking

The parent company is Salboy Limited, a company incorporated in England and Wales, company number 09123542, registered office Unit 3 Birchwood One Business Park, Dewhurst Road, Birchwood, Warrington, England, WA3 7GB.

These financial statements are consolidated within the group financial statements of Salboy Limited. Copies of the consolidated financial statements are available on request from Unit 3 Birchwood One Business Park, Dewhurst Road, Birchwood, Warrington, England, WA3 7GB.

The directors of Salboy Limited are considered to be the controlling party.

The company has taken advantage of the exemption from disclosure of intra group transactions in accordance with FRS102 paragraph 33.1A.