Company Registration No. 09117284 (England and Wales)
Excite Homes Limited
Unaudited accounts
for the year ended 31 March 2024
Excite Homes Limited
Unaudited accounts
Contents
Excite Homes Limited
Statement of financial position
as at 31 March 2024
Investment property
245,000
245,000
Cash at bank and in hand
9,321
10,969
Creditors: amounts falling due within one year
(8,524)
(13,004)
Net current assets
11,469
6,654
Total assets less current liabilities
256,527
251,769
Creditors: amounts falling due after more than one year
(185,890)
(185,890)
Provisions for liabilities
Deferred tax
(15,500)
(15,500)
Called up share capital
100
100
Revaluation reserve
46,487
46,487
Profit and loss account
8,550
3,792
Shareholders' funds
55,137
50,379
For the year ending 31 March 2024 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 2 October 2024 and were signed on its behalf by
Paul Banton-Forbes
Director
Company Registration No. 09117284
Excite Homes Limited
Notes to the Accounts
for the year ended 31 March 2024
Excite Homes Limited is a private company, limited by shares, registered in England and Wales, registration number 09117284. The registered office is 7 Bell Yard, London, WC2A 2JR.
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.
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:
Computer equipment
25% straight line
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Excite Homes Limited
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Computer equipment
Fair value at 1 April 2023
245,000
Amounts falling due within one year
Accrued income and prepayments
7,420
8,493
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
1,246
603
Loans from directors
-
5,707
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
185,890
185,890
Aggregate of amounts that fall due for payment after five years
185,890
185,890
The bank loan of £185,890 (2023- £185,890) is secured by way of a floating charge over the company's assets.
Excite Homes Limited
Notes to the Accounts
for the year ended 31 March 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors loan
(5,707)
9,180
308
3,165
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).