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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
Page
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Excite Homes Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
58 
115 
Investment property
245,000 
245,000 
245,058 
245,115 
Current assets
Debtors
10,672 
8,689 
Cash at bank and in hand
9,321 
10,969 
19,993 
19,658 
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)
Net assets
55,137 
50,379 
Capital and reserves
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
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Excite Homes Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
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.
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.
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
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 taxation
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.
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Excite Homes Limited Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 April 2023
229 
At 31 March 2024
229 
Depreciation
At 1 April 2023
114 
Charge for the year
57 
At 31 March 2024
171 
Net book value
At 31 March 2024
58 
At 31 March 2023
115 
5
Investment property
2024 
£ 
Fair value at 1 April 2023
245,000 
At 31 March 2024
245,000 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
7,420 
8,493 
Other debtors
3,252 
196 
10,672 
8,689 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
224 
664 
Taxes and social security
1,246 
603 
Loans from directors
- 
5,707 
Accruals
7,054 
6,030 
8,524 
13,004 
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.
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Excite Homes Limited Notes to the Accounts for the year ended 31 March 2024
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Directors loan
(5,707)
9,180 
308 
3,165 
(5,707)
9,180 
308 
3,165 
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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