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REGISTERED NUMBER: 04109241 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

EXCHANGE HOMES LIMITED

EXCHANGE HOMES LIMITED (REGISTERED NUMBER: 04109241)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EXCHANGE HOMES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 March 2024







DIRECTORS: A Biris
Mrs A Biris





SECRETARY: Mrs A Biris





REGISTERED OFFICE: 12 Gateway Mews
Ring Way
London
N11 2UT





REGISTERED NUMBER: 04109241 (England and Wales)





ACCOUNTANTS: G. George Associates Limited
Chartered Certified Accountants
12 Gateway Mews
Ring Way
London
N11 2UT

EXCHANGE HOMES LIMITED (REGISTERED NUMBER: 04109241)

BALANCE SHEET
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 309 23
Investments 5 65,000 65,000
Investment property 6 242,627 -
307,936 65,023

CURRENT ASSETS
Debtors 7 1,401 305,320
Cash at bank 10,792 57,669
12,193 362,989
CREDITORS
Amounts falling due within one year 8 13,591 111,713
NET CURRENT (LIABILITIES)/ASSETS (1,398 ) 251,276
TOTAL ASSETS LESS CURRENT
LIABILITIES

306,538

316,299

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 306,238 315,999
SHAREHOLDERS' FUNDS 306,538 316,299

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

EXCHANGE HOMES LIMITED (REGISTERED NUMBER: 04109241)

BALANCE SHEET - continued
31 March 2024


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 Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





A Biris - Director


EXCHANGE HOMES LIMITED (REGISTERED NUMBER: 04109241)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 March 2024

1. STATUTORY INFORMATION

EXCHANGE HOMES 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

Investments in associates
Investments in associate undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. Deferred taxation is provided on such surplus or deficit at the rate expected to apply when the property is sold.

The fair value profits on investment property is not a realised profit available for distribution. In order to differentiate the non-distributable proftits with the distributable profits of the company, any fair value movements on investment property less the deferred tax on such movements is transferred from retained earnings to fair value reserves, which is a non-distributable reserve.

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 balance sheet date.


EXCHANGE HOMES LIMITED (REGISTERED NUMBER: 04109241)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 1 (2023 - NIL ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023 2,410
Additions 390
At 31 March 2024 2,800
DEPRECIATION
At 1 April 2023 2,387
Charge for year 104
At 31 March 2024 2,491
NET BOOK VALUE
At 31 March 2024 309
At 31 March 2023 23

5. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 April 2023
and 31 March 2024 65,000
NET BOOK VALUE
At 31 March 2024 65,000
At 31 March 2023 65,000

EXCHANGE HOMES LIMITED (REGISTERED NUMBER: 04109241)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 March 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 242,627
At 31 March 2024 242,627
NET BOOK VALUE
At 31 March 2024 242,627

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 1,350 -
Other debtors 51 305,320
1,401 305,320

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Taxation and social security - 61,253
Other creditors 13,591 50,460
13,591 111,713