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REGISTERED NUMBER: 08891967 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

HOMEPRIDE PROPERTIES LIMITED

HOMEPRIDE PROPERTIES LIMITED (REGISTERED NUMBER: 08891967)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


HOMEPRIDE PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: S Cik





REGISTERED OFFICE: 115 Craven Park Road
London
N15 6BL





REGISTERED NUMBER: 08891967 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

HOMEPRIDE PROPERTIES LIMITED (REGISTERED NUMBER: 08891967)

STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £   
FIXED ASSETS
Investment property 4 1,151,404 1,151,404

CURRENT ASSETS
Debtors 5 3,000 -
Cash at bank 26,514 26,896
29,514 26,896
CREDITORS
Amounts falling due within one year 6 (560,917 ) (565,564 )
NET CURRENT LIABILITIES (531,403 ) (538,668 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

620,001

612,736

CREDITORS
Amounts falling due after more than one
year

7

(379,076

)

(386,032

)

PROVISIONS FOR LIABILITIES (18,843 ) (18,843 )
NET ASSETS 222,082 207,861

CAPITAL AND RESERVES
Called up share capital 9 1 1
Revaluation reserve 10 30,875 30,875
Fair value reserve 10 99,171 99,171
Retained earnings 10 92,035 77,814
SHAREHOLDERS' FUNDS 222,082 207,861

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

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.

HOMEPRIDE PROPERTIES LIMITED (REGISTERED NUMBER: 08891967)

STATEMENT OF FINANCIAL POSITION - continued
28 FEBRUARY 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 director and authorised for issue on 23 November 2023 and were signed by:





S Cik - Director


HOMEPRIDE PROPERTIES LIMITED (REGISTERED NUMBER: 08891967)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Homepride 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents net rent receivable, excluding value added tax.

Investment property
Investment properties are properties held to earn rental income or for capital appreciation or for both.

Investment properties are recognised initially at cost.

Subsequent to initial recognition:
a. Investment properties whose fair value can be measured reliably without undue cost or effort are held at fair value. Any gains or losses arising from change in fair value are recognised in profit or loss in the period that they arise; and

b. no depreciation is provided in respect of investment properties applying the fair value model.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 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.

3. EMPLOYEES AND DIRECTORS

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

HOMEPRIDE PROPERTIES LIMITED (REGISTERED NUMBER: 08891967)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

4. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 March 2022
and 28 February 2023 1,151,404
NET BOOK VALUE
At 28 February 2023 1,151,404
At 28 February 2022 1,151,404

Cost or valuation at 28 February 2023 is represented by:
£   
Valuation in 2017 30,875
Valuation in 2021 99,171
Cost 1,021,358
1,151,404

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Other debtors 3,000 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Tax 3,336 7,264
Other creditors 552,518 552,517
Rent deposit 2,600 2,600
Directors' current accounts 1,503 1,503
Accrued expenses 960 1,680
560,917 565,564

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loan 1 379,076 296,774
Bank loan - 89,258
379,076 386,032

Amounts falling due in more than five years:

Repayable by instalments
Bank loan 1 379,076 296,774
Bank loan - 89,258
379,076 386,032

HOMEPRIDE PROPERTIES LIMITED (REGISTERED NUMBER: 08891967)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 28.2.22
£    £   
Bank loans 379,076 386,032

The bank loans and overdraft are secured by a first charge over the company's properties and a floating charge over the assets of the company, and bear interest at variable rates.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
1 Ordinary £1 1 1

10. RESERVES
Fair
Retained Revaluation value
earnings reserve reserve Totals
£    £    £    £   

At 1 March 2022 77,814 30,875 99,171 207,860
Profit for the year 14,221 14,221
At 28 February 2023 92,035 30,875 99,171 222,081

11. ULTIMATE CONTROLLING PARTY

Mr S Cik is the ultimate controller by virtue of owning 100% of the ordinary share capital in the company.