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Company Registration No. 13802806 (England and Wales)
Homevest Limited Unaudited accounts for the year ended 31 December 2023
Homevest Limited Unaudited accounts Contents
Page
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Homevest Limited Company Information for the year ended 31 December 2023
Directors
Erik Edin Vasile Petru Dimulescu
Company Number
13802806 (England and Wales)
Registered Office
REGUS OFFICES 167 CITY ROAD LONDON GREATER LONDON EC1V 1AW UNITED KINGDOM
Accountants
The Accountancy Cloud 12-18 Hoxton Street London N1 6NG UK
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Homevest Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
863 
- 
Tangible assets
4,197 
10,990 
Investments
1,983 
- 
7,043 
10,990 
Current assets
Debtors
15,171 
6,917 
Cash at bank and in hand
381,102 
606,627 
396,273 
613,544 
Creditors: amounts falling due within one year
(79,876)
(125,135)
Net current assets
316,397 
488,409 
Net assets
323,440 
499,399 
Capital and reserves
Called up share capital
12 
11 
Share premium
1,343,009 
1,043,002 
Profit and loss account
(1,019,581)
(543,614)
Shareholders' funds
323,440 
499,399 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 3 April 2024 and were signed on its behalf by
Erik Edin Director Company Registration No. 13802806
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Homevest Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Homevest Limited is a private company, limited by shares, registered in England and Wales, registration number 13802806. The registered office is REGUS OFFICES, 167 CITY ROAD, LONDON, GREATER LONDON, EC1V 1AW, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The directors believe that the company has adequate financial resources to continue in operation for the foreseeable future and accordingly the annual financial statements have been prepared on a going concern basis.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% straight line
Computer equipment
25% straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Research and development
Research expenditure is written off in the year in which it is incurred. Development expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is capitalised within intangible assets and amortised when ready for use. During the financial year, Homevest Limited received a tax credit for qualifying research and development expenditure under the Research and Development tax relief scheme. This is presented as a tax repayment in the Income Statement in line with disclosure requirements under FRS 102.
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Homevest Limited Notes to the Accounts for the year ended 31 December 2023
Research and development tax credit
During the financial year, Homevest Limited received a tax credit for qualifying research and development expenditure under the Research and Development tax relief scheme. This is presented as a tax repayment in the Statement of Profit or Loss in line with disclosure requirements under FRS 102.
Investments
Investments in shares are included at fair value.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2023
- 
Additions
863 
At 31 December 2023
863 
Amortisation
At 1 January 2023
- 
At 31 December 2023
- 
Net book value
At 31 December 2023
863 
5
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2023
- 
12,761 
12,761 
Additions
150 
1,239 
1,389 
Disposals
- 
(7,069)
(7,069)
At 31 December 2023
150 
6,931 
7,081 
Depreciation
At 1 January 2023
- 
1,771 
1,771 
Charge for the year
15 
2,440 
2,455 
On disposals
- 
(1,342)
(1,342)
At 31 December 2023
15 
2,869 
2,884 
Net book value
At 31 December 2023
135 
4,062 
4,197 
At 31 December 2022
- 
10,990 
10,990 
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Homevest Limited Notes to the Accounts for the year ended 31 December 2023
6
Investments
Subsidiary undertakings 
£ 
Valuation at 1 January 2023
- 
Additions
1,983 
Valuation at 31 December 2023
1,983 
Investments includes an investment of £1,983 (2022: £nil) in Goldcup 31548 AB, its Swedish subsidiary.
7
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
639 
806 
Trade debtors
2,878 
- 
Amounts due from group undertakings etc.
4,706 
- 
Accrued income and prepayments
6,919 
5,904 
Other debtors
29 
207 
15,171 
6,917 
8
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
292 
720 
Taxes and social security
60,479 
75,862 
Loans from directors
695 
695 
Accruals
18,410 
47,858 
79,876 
125,135 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1,173,457 Ordinary shares of £0.00001 each
11.73 
11.36 
Shares issued during the period:
37,038 Ordinary shares of £0.00001 each
0.37 
10
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Erik Edin
(632)
- 
- 
(632)
Vasile Petru Dimulescu
(63)
- 
- 
(63)
(695)
- 
- 
(695)
Directors' loans are interest-free and repayable on demand.
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Homevest Limited Notes to the Accounts for the year ended 31 December 2023
11
Transactions with related parties
As at 31 December 2023, £4,706 (2022: £nil) is due from Goldcup AB, a subsidiary of Homevest Limited.
12
Average number of employees
During the year the average number of employees was 3 (2022: 1).
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