Company Registration No. 13802806 (England and Wales)
Homevest Limited
Unaudited accounts
for the year ended 31 December 2023
Homevest Limited
Unaudited accounts
Contents
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
Homevest Limited
Statement of financial position
as at 31 December 2023
Tangible assets
4,197
10,990
Cash at bank and in hand
381,102
606,627
Creditors: amounts falling due within one year
(79,876)
(125,135)
Net current assets
316,397
488,409
Net assets
323,440
499,399
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
Homevest Limited
Notes to the Accounts
for the year ended 31 December 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 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 (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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.
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 in shares are included at fair value.
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.
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
5
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2023
-
12,761
12,761
Disposals
-
(7,069)
(7,069)
At 31 December 2023
150
6,931
7,081
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
At 31 December 2023
135
4,062
4,197
At 31 December 2022
-
10,990
10,990
Homevest Limited
Notes to the Accounts
for the year ended 31 December 2023
6
Investments
Subsidiary undertakings
Valuation at 1 January 2023
-
Valuation at 31 December 2023
1,983
Investments includes an investment of £1,983 (2022: £nil) in Goldcup 31548 AB, its Swedish subsidiary.
Amounts falling due within one year
Amounts due from group undertakings etc.
4,706
-
Accrued income and prepayments
6,919
5,904
8
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
60,479
75,862
Loans from directors
695
695
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
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors' loans are interest-free and repayable on demand.
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).