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REGISTERED NUMBER: 05946720 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Homelet Solutions Limited

Homelet Solutions Limited (Registered number: 05946720)






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


Homelet Solutions Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: S Billington





SECRETARY: S Billington





REGISTERED OFFICE: Unit 3B Trident Business Centre
Amy Johnson Way
Blackpool
FY4 2RP





REGISTERED NUMBER: 05946720 (England and Wales)





ACCOUNTANTS: Nathans
Chartered Certified Accountants
Trident Business Centre
Amy Johnson Way
Blackpool
Lancashire
FY4 2RP

Homelet Solutions Limited (Registered number: 05946720)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 945,000 900,000
945,000 900,000

CURRENT ASSETS
Cash at bank 7,407 6,089

CREDITORS
Amounts falling due within one year 6 (293,906 ) (297,747 )
NET CURRENT LIABILITIES (286,499 ) (291,658 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

658,501

608,342

PROVISIONS FOR LIABILITIES (13,490 ) (13,490 )
NET ASSETS 645,011 594,852

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 645,009 594,850
SHAREHOLDERS' FUNDS 645,011 594,852

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 director acknowledges his 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.

Homelet Solutions Limited (Registered number: 05946720)

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 director and authorised for issue on 19 September 2024 and were signed by:





S Billington - Director


Homelet Solutions Limited (Registered number: 05946720)

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

1. STATUTORY INFORMATION

Homelet Solutions 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 as modified by the revaluation of certain assets.

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 the cost less estimated residual value of each asset over its estimated useful life.
Computer equipment - 33% on reducing balance

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.

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.

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.

Rents
Rents receivable are recognised when the rent becomes due.

Homelet Solutions Limited (Registered number: 05946720)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023
and 31 March 2024 20,547
DEPRECIATION
At 1 April 2023
and 31 March 2024 20,547
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 900,000
Revaluations 45,000
At 31 March 2024 945,000
NET BOOK VALUE
At 31 March 2024 945,000
At 31 March 2023 900,000

Contrary to Companies Act requirements the Investment Properties are not depreciated. This departure from the Companies Act is required to ensure the financial statements show a true and fair view.

Homelet Solutions Limited (Registered number: 05946720)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2014 29,000
Valuation in 2015 15,225
Valuation in 2016 85,775
Valuation in 2017 157,000
Valuation in 2018 30,000
Valuation in 2019 41,000
Valuation in 2021 (72,000 )
Valuation in 2023 34,000
Valuation in 2024 45,000
Cost 580,000
945,000

If investment property had not been revalued it would have been included at the following historical cost:

31.3.24 31.3.23
£    £   
Cost 580,000 580,000

Investment property was valued on an open market basis on 31 March 2023 by the director .

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 185,745 185,745
Taxation and social security 1,210 9,146
Other creditors 106,951 102,856
293,906 297,747

7. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 185,745 185,745

Bank loans are secured on the Investment Properties.

Homelet Solutions Limited (Registered number: 05946720)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
S Billington
Balance outstanding at start of year (43,631 ) (183,112 )
Amounts advanced 35,000 187,971
Amounts repaid (11,820 ) (48,490 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (20,451 ) (43,631 )

There are no formal terms between the company and the director in respect of the directors loan account. No interest is due to or from the company and if overdrawn the balance is payable upon demand.