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Registration number: 06240007

Report of the Director and


Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

for
 

Homes One Limited

 

Homes One Limited

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

Company Information

1

Director's Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

Accountants' Report

10

 

Homes One Limited

Company Information
for the Year Ended 31 March 2023

Director

K Bazzi

Registered office:

Savoy House
Savoy Circus
London
W3 7DA

Registered number:

06240007

Accountants:

Wem & Co
Chartered Accountants
Savoy House
Savoy Circus
London
W3 7DA

 

Homes One Limited

Director's Report
for the Year Ended 31 March 2023

The director presents his report and the financial statements for the year ended 31 March 2023.

Principal activity

The principal activity of the company is providing property consultancy services.

Director of the company

The director who held office during the year was as follows:

K Bazzi

Small companies provision statement

This report has 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.

Approved and authorised by the director on 29 November 2023
 

.........................................
K Bazzi
Director

 

Homes One Limited

(Registration number: 06240007)
Balance Sheet as at 31 March 2023

Note

31.03.23

31.03.22

   

£

£

£

£

FIXED ASSETS

   

 

Tangible assets

4

 

1,263

 

595

Other financial assets

5

 

50,174

 

-

   

51,437

 

595

CURRENT ASSETS

   

 

Debtors

6

32,030

 

34,860

 

Cash at bank and in hand

 

296,873

 

374,259

 

 

328,903

 

409,119

 

CREDITORS

   

 

Creditors within 1yr

7

61,595

 

119,283

 

Net current assets

   

267,308

 

289,836

Total assets less current liabilities

   

318,745

 

290,431

Creditors
Amounts falling due after more than one year

7

 

-

 

31,667

PROVISIONS FOR LIABILITIES

 

(316)

 

(113)

Net assets

   

318,429

 

258,651

CAPITAL AND RESERVES

   

 

Called up share capital

 

60

 

60

Capital redemption reserve

 

40

 

40

Profit and loss account

 

318,329

 

258,551

Shareholders' funds

   

318,429

 

258,651

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

Approved and authorised by the director on 29 November 2023
 

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

K Bazzi - Director

 

Homes One Limited

(Registration number: 06240007)
Balance Sheet as at 31 March 2023 (continued)

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Homes One Limited

Notes to the Unaudited 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 company's registered number and registered office address can be found on the Company Information page.

These financial statements were authorised for issue by the director on 29 November 2023.

2.

Accounting policies

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.


The presentational currency is Pound Sterling (£).

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

Tax

The tax expense for the period comprises current and deferred 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.

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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.
 

 

Homes One Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Asset class

Depreciation method and rate

Land and buildings

Straight line over 3 years

Plant and machinery, etc

Straight line over 3 and 4 years

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.

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

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.

Defined contribution pension obligation

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

 

Homes One Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023 (continued)

3.

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

4.

Tangible assets

Plant and machinery, etc
£

Total
£

Cost or valuation

At 1 April 2022

3,634

3,634

Additions

1,370

1,370

At 31 March 2023

5,004

5,004

Depreciation

At 1 April 2022

3,039

3,039

Charge for the year

702

702

At 31 March 2023

3,741

3,741

Carrying amount

At 31 March 2023

1,263

1,263

At 31 March 2022

595

595

 

Homes One Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023 (continued)

5.

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

Additions

50,174

50,174

At 31 March 2023

50,174

50,174

Carrying amount

At 31 March 2023

50,174

50,174

6.

Debtors

Current

31.03.23
£

31.03.22
£

Trade debtors

1,170

-

Prepayments

860

4,860

Other debtors

30,000

30,000

 

32,030

34,860

7.

Creditors

Creditors: amounts falling due within one year

Note

31.03.23
£

31.03.22
£

Due within one year

 

Loans and borrowings

8

-

10,000

Trade creditors

 

1,096

3,223

Taxation and social security

 

56,153

67,198

Accruals and deferred income

 

4,000

4,175

Other creditors

 

346

34,687

 

61,595

119,283

Other creditors relates to Director loan which is on a non commercial basis.

 

Homes One Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023 (continued)

7

Creditors (continued)

Creditors: amounts falling due after more than one year

Note

31.03.23
£

31.03.22
£

Due after one year

 

Loans and borrowings

8

-

31,667

8.

Loans and borrowings

31.03.23
£

31.03.22
£

Non-current loans and borrowings

Bank borrowings

-

31,667

31.03.23
£

31.03.22
£

Current loans and borrowings

Bank borrowings

-

10,000

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Homes One Limited
for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Homes One Limited for the year ended 31 March 2023 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.
 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.
 

This report is made solely to the Board of Directors of Homes One Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Homes One Limited and state those matters that we have agreed to state to the Board of Directors of Homes One Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Homes One Limited and its Board of Directors as a body for our work or for this report.
 

It is your duty to ensure that Homes One Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Homes One Limited. You consider that Homes One Limited is exempt from the statutory audit requirement for the year.
 

We have not been instructed to carry out an audit or a review of the accounts of Homes One Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
 

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

Wem & Co
Chartered Accountants
Savoy House
Savoy Circus
London
W3 7DA


29 November 2023