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REGISTERED NUMBER: 11149345 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Homagra Properties Limited

Homagra Properties Limited (Registered number: 11149345)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Homagra Properties Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: G Foster
Mrs L J Foster





REGISTERED OFFICE: Pinecroft
Station Road
Chilbolton
Stockbridge
Hampshire
SO20 6AW





REGISTERED NUMBER: 11149345 (England and Wales)





ACCOUNTANTS: Lane Monnington Welton
Chartered Accountants
Riverside View
Basing Road
Old Basing
Basingstoke
Hampshire
RG24 7AL

Homagra Properties Limited (Registered number: 11149345)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,479 14,219
Investment property 5 833,469 220,000
842,948 234,219

CURRENT ASSETS
Stocks - 373,668
Cash at bank 9,629 83,447
9,629 457,115
CREDITORS
Amounts falling due within one year 6 389,166 569,076
NET CURRENT LIABILITIES (379,537 ) (111,961 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

463,411

122,258

CREDITORS
Amounts falling due after more than one
year

7

(410,050

)

(100,050

)

PROVISIONS FOR LIABILITIES 9 (15,262 ) (6,849 )
NET ASSETS 38,099 15,359

CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 11 45,786 29,199
Retained earnings (7,787 ) (13,940 )
SHAREHOLDERS' FUNDS 38,099 15,359

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

Homagra Properties Limited (Registered number: 11149345)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2023 and were signed on its behalf by:





G Foster - Director


Homagra Properties Limited (Registered number: 11149345)

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


1. STATUTORY INFORMATION

Homagra Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost

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.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Debtors and creditors payable/receivable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price, including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

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.

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.


Homagra Properties Limited (Registered number: 11149345)

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


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, adjusted for indexation where applicable.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Impairment
Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 April 2022
and 31 March 2023 18,959
DEPRECIATION
At 1 April 2022 4,740
Charge for year 4,740
At 31 March 2023 9,480
NET BOOK VALUE
At 31 March 2023 9,479
At 31 March 2022 14,219

Homagra Properties Limited (Registered number: 11149345)

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


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 220,000
Additions 588,469
Revaluations 25,000
At 31 March 2023 833,469
NET BOOK VALUE
At 31 March 2023 833,469
At 31 March 2022 220,000


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other creditors 389,166 569,076

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 410,050 100,050

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 410,050 100,050

The bank loans are secured against the investment properties.

9. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 15,262 6,849

Deferred
tax
£   
Balance at 1 April 2022 6,849
Revaluation of property 8,413
Balance at 31 March 2023 15,262

Homagra Properties Limited (Registered number: 11149345)

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


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Fair
value
reserve
£   
At 1 April 2022 29,199
Property revaluation 16,587

At 31 March 2023 45,786

12. RELATED PARTY DISCLOSURES

The company owes £379,488 (2022: £559,488) to the directors at the year end.