0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-11-01 Sage Accounts Production Advanced 2024 - FRS102_2024 16,280 146,473 162,753 24,747 103,261 59,492 16,280 100 100 100 xbrli:pure xbrli:shares iso4217:GBP 13668288 2022-11-01 2023-10-31 13668288 2023-10-31 13668288 2022-10-31 13668288 2021-10-08 2022-10-31 13668288 2022-10-31 13668288 2021-10-07 13668288 bus:Director2 2022-11-01 2023-10-31 13668288 bus:Director3 2022-11-01 2023-10-31 13668288 bus:Director4 2022-11-01 2023-10-31 13668288 bus:Director5 2022-11-01 2023-10-31 13668288 core:WithinOneYear 2023-10-31 13668288 core:WithinOneYear 2022-10-31 13668288 core:ShareCapital 2023-10-31 13668288 core:ShareCapital 2022-10-31 13668288 core:SharePremium 2023-10-31 13668288 core:RetainedEarningsAccumulatedLosses 2023-10-31 13668288 core:RetainedEarningsAccumulatedLosses 2022-10-31 13668288 core:CostValuation core:Non-currentFinancialInstruments 2023-10-31 13668288 core:Non-currentFinancialInstruments 2023-10-31 13668288 core:Non-currentFinancialInstruments 2022-10-31 13668288 bus:Director1 2022-11-01 2023-10-31 13668288 bus:SmallEntities 2022-11-01 2023-10-31 13668288 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 13668288 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 13668288 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 13668288 bus:FullAccounts 2022-11-01 2023-10-31 13668288 core:IntangibleAssetsOtherThanGoodwill 2022-11-01 2023-10-31 13668288 core:IntangibleAssetsOtherThanGoodwill 2022-10-31 13668288 core:IntangibleAssetsOtherThanGoodwill 2023-10-31 13668288 core:KeyManagementPersonnel 2022-11-01 2023-10-31 13668288 core:AllAssociates 2022-11-01 2023-10-31
COMPANY REGISTRATION NUMBER: 13668288
Homely Global Ltd
Filleted Unaudited Financial Statements
31 October 2023
Homely Global Ltd
Financial Statements
Year ended 31 October 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Homely Global Ltd
Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
Fixed assets
Intangible assets
5
59,492
16,280
Investments
6
100
100
--------
--------
59,592
16,380
Current assets
Debtors
7
219,729
Cash at bank and in hand
64,884
5,150
---------
-------
284,613
5,150
Creditors: amounts falling due within one year
8
26,475
22,837
---------
--------
Net current assets/(liabilities)
258,138
( 17,687)
---------
--------
Total assets less current liabilities
317,730
( 1,307)
---------
-------
Net assets/(liabilities)
317,730
( 1,307)
---------
-------
Capital and reserves
Called up share capital
1,047
633
Share premium account
499,938
Profit and loss account
( 183,255)
( 1,940)
---------
-------
Shareholders funds/(deficit)
317,730
( 1,307)
---------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Homely Global Ltd
Statement of Financial Position (continued)
31 October 2023
These financial statements were approved by the board of directors and authorised for issue on 31 October 2024 , and are signed on behalf of the board by:
Mr S Ward
Mr P Birkin
Director
Director
Mr P Prabhakaran
Mr E Scott
Director
Director
Company registration number: 13668288
Homely Global Ltd
Notes to the Financial Statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 167-169 Great Portland Street, 5th Floor, London, W1W 5PF, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis which relies upon the continuing support of the director and on securing additional investment.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Intangible assets
-
33% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 5 (2022: 1).
5. Intangible assets
Intangible assets
£
Cost
At 1 November 2022
16,280
Additions
146,473
---------
At 31 October 2023
162,753
---------
Amortisation
Charge for the year
24,747
Impairment losses
78,514
---------
At 31 October 2023
103,261
---------
Carrying amount
At 31 October 2023
59,492
---------
At 31 October 2022
16,280
---------
6. Investments
Shares in group undertakings
£
Cost
At 1 November 2022 and 31 October 2023
100
----
Impairment
At 1 November 2022 and 31 October 2023
----
Carrying amount
At 31 October 2023
100
----
At 31 October 2022
100
----
7. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
380
Other debtors
219,349
---------
----
219,729
---------
----
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,567
Amounts owed to group undertakings and undertakings in which the company has a participating interest
100
Other creditors
24,908
22,737
--------
--------
26,475
22,837
--------
--------
9. Related party transactions
At the period end the company owed the Directors £23,408 (2022: £8,187). At the year end the company was owed £100 (2022: £0) by a company associated by common control.