Homes One Limited 06240007 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is providing property consultancy services. Digita Accounts Production Advanced 6.30.9574.0 true 06240007 2023-04-01 2024-03-31 06240007 2024-03-31 06240007 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2024-03-31 06240007 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 06240007 core:FurnitureFittingsToolsEquipment 2024-03-31 06240007 core:MotorVehicles 2024-03-31 06240007 bus:SmallEntities 2023-04-01 2024-03-31 06240007 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06240007 bus:FilletedAccounts 2023-04-01 2024-03-31 06240007 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06240007 bus:RegisteredOffice 2023-04-01 2024-03-31 06240007 bus:Director1 2023-04-01 2024-03-31 06240007 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06240007 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 06240007 core:LandBuildings 2023-04-01 2024-03-31 06240007 core:MotorVehicles 2023-04-01 2024-03-31 06240007 core:PlantMachinery 2023-04-01 2024-03-31 06240007 countries:EnglandWales 2023-04-01 2024-03-31 06240007 2023-03-31 06240007 core:FurnitureFittingsToolsEquipment 2023-03-31 06240007 core:MotorVehicles 2023-03-31 06240007 2022-04-01 2023-03-31 06240007 2023-03-31 06240007 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 06240007 core:FurnitureFittingsToolsEquipment 2023-03-31 06240007 core:MotorVehicles 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 06240007

Homes One Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Homes One Limited

Contents

Company Information

1

Director's Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 7

 

Homes One Limited

Company Information

Director

K Bazzi

Registered office:

Savoy House
Savoy Circus
London
W3 7DA

Registered number:

06240007

Accountants:

Wem & Co
Chartered Accountants
Savoy House
Savoy Circus
London
W3 7DA

 

Homes One Limited

Director's Report for the Year Ended 31 March 2024

The director presents his report and the financial statements for the year ended 31 March 2024.

Principal activity

The principal activity of the company is providing property consultancy services.

Director of the company

The director who held office during the year was as follows:

K Bazzi

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 19 October 2024
 

.........................................
K Bazzi
Director

 

Homes One Limited

(Registration number: 06240007)
Balance Sheet as at 31 March 2024

Note

31.03.24

31.03.23

   

£

£

£

£

FIXED ASSETS

   

 

Tangible assets

4

 

21,594

 

1,263

Other financial assets

5

 

50,174

 

50,174

   

71,768

 

51,437

CURRENT ASSETS

   

 

Debtors

6

134,605

 

32,030

 

Cash at bank and in hand

 

148,954

 

296,873

 

 

283,559

 

328,903

 

CREDITORS

   

 

Creditors within 1yr

7

29,577

 

61,595

 

Net current assets

   

253,982

 

267,308

Total assets less current liabilities

   

325,750

 

318,745

PROVISIONS FOR LIABILITIES

 

(5,399)

 

(316)

Net assets

   

320,351

 

318,429

CAPITAL AND RESERVES

   

 

Called up share capital

 

60

 

60

Capital redemption reserve

 

40

 

40

Profit and loss account

 

320,251

 

318,329

Shareholders' funds

   

320,351

 

318,429

For the financial 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.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 19 October 2024
 

.........................................

K Bazzi - Director

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Homes One Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1.

General information

The company is a private company limited by share capital, incorporated in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

These financial statements were authorised for issue by the director on 19 October 2024.

2.

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.


The presentational currency is Pound Sterling (£).

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
 

 

Homes One Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Asset class

Depreciation method and rate

Land and buildings

Straight line over 3 years

Plant and machinery, etc

Straight line over 3 and 4 years

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. Interest income on debt securities, where applicable, is recognised in income using the effective interest method.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Defined contribution pension obligation

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

 

Homes One Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

4.

Tangible assets

Plant and machinery, etc
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

5,004

-

5,004

Additions

-

25,499

25,499

At 31 March 2024

5,004

25,499

30,503

Depreciation

At 1 April 2023

3,741

-

3,741

Charge for the year

578

4,590

5,168

At 31 March 2024

4,319

4,590

8,909

Carrying amount

At 31 March 2024

685

20,909

21,594

At 31 March 2023

1,263

-

1,263

 

Homes One Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

5.

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2023

50,174

50,174

At 31 March 2024

50,174

50,174

Carrying amount

At 31 March 2024

50,174

50,174

6.

Debtors

Current

31.03.24
£

31.03.23
£

Trade debtors

-

1,170

Prepayments

1,604

860

Other debtors

133,001

30,000

 

134,605

32,030

Included in other debtors is £53,286 owed by the director and £49,714 by a related party which was repaid within 9 months of the year-end and carries interest at the HMRC official rate. Also, a loan to a related party of £30,000 on which no interest or repayment terms have been set.
 

7.

Creditors

Creditors: amounts falling due within one year

31.03.24
£

31.03.23
£

Due within one year

Trade creditors

1,943

1,096

Taxation and social security

23,434

56,153

Accruals and deferred income

4,200

4,000

Other creditors

-

346

29,577

61,595