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Registration number: 12481041

Feel Home Lettings Pvt Ltd

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2023

 

Feel Home Lettings Pvt Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Feel Home Lettings Pvt Ltd

Company Information

Directors

Mrs K Gupta

Mr PK Gupta

Registered office

58 Ringlet Close
Kennington
Ashford
Kent
TN24 9FW

Accountants

Clever Accounts Limited
Brookfield Court
Selby Road
Leeds
LS25 1NB

 

Feel Home Lettings Pvt Ltd

(Registration number: 12481041)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

160

320

Investment property

5

1,330,026

951,226

 

1,330,186

951,546

Current assets

 

Debtors

6

-

189

Cash at bank and in hand

 

15,779

56,834

 

15,779

57,023

Creditors: Amounts falling due within one year

7

(375,072)

(311,063)

Net current liabilities

 

(359,293)

(254,040)

Total assets less current liabilities

 

970,893

697,506

Creditors: Amounts falling due after more than one year

7

(939,561)

(685,910)

Net assets

 

31,332

11,596

Capital and reserves

 

Called up share capital

8

10

10

Retained earnings

31,322

11,586

Shareholders' funds

 

31,332

11,596

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

 

Feel Home Lettings Pvt Ltd

(Registration number: 12481041)
Balance Sheet as at 28 February 2023

Approved and authorised by the Board on 14 November 2023 and signed on its behalf by:
 

.........................................

Mr PK Gupta
Director

 

Feel Home Lettings Pvt Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
58 Ringlet Close
Kennington
Ashford
Kent
TN24 9FW
England

These financial statements were authorised for issue by the Board on 14 November 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 United Kingdom 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Feel Home Lettings Pvt Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Feel Home Lettings Pvt Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

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

 

Feel Home Lettings Pvt Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2022

480

480

At 28 February 2023

480

480

Depreciation

At 1 March 2022

160

160

Charge for the year

160

160

At 28 February 2023

320

320

Carrying amount

At 28 February 2023

160

160

At 28 February 2022

320

320

5

Investment properties

2023
£

At 1 March

951,226

Additions

378,800

At 28 February

1,330,026

There has been no valuation of investment property by an independent valuer.

6

Debtors

Current

2023
£

2022
£

Other debtors

-

189

 

-

189

 

Feel Home Lettings Pvt Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

4,666

2,643

Other creditors

370,406

308,420

375,072

311,063

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

939,561

685,910

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

10

10

10

10

         

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

687,998

640,910

Other borrowings

251,563

45,000

939,561

685,910

 

Feel Home Lettings Pvt Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

10

Financial commitments, guarantees and contingencies

Amounts disclosed in the balance sheet

Included in the balance sheet are financial commitments of £Nil (2022 - £640,910). The commitments are in the form of 25 year mortgage charges held against the investment properties owned by the company as security

11

Related party transactions

Loans from related parties

2023

Other related parties
£

Total
£

At start of period

351,690

351,690

Advanced

16,984

16,984

At end of period

368,674

368,674

2022

Other related parties
£

Total
£

At start of period

249,690

249,690

Advanced

102,000

102,000

At end of period

351,690

351,690

Terms of loans from related parties

Included in other creditors is a loan from Splendid Healthcare Limited, a company owned by the directors of £43,000 (2021: £45,000).
The loan is interest free and repayable on demand.

Also included in other creditors is a loan from the directors of the company of £368,674.40 (2020:£351,690).
The loan is interest free and repayable on demand.