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Company Registration No. 06155224 (England and Wales)
Ihomes (London) Limited Unaudited accounts for the year ended 31 March 2024
Ihomes (London) Limited Unaudited accounts Contents
Page
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Ihomes (London) Limited Company Information for the year ended 31 March 2024
Directors
Mr I Rosenthal Mr C Naughton
Company Number
06155224 (England and Wales)
Registered Office
Unit 5 Swaker Yard 2b Theobald Street Herts WD6 4SE United Kingdom
Accountants
Platts Unit 5 Swaker Yard 2b Theobald Street Herts WD6 4SE
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Ihomes (London) Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
12,527 
6,072 
Investments
200 
200 
12,727 
6,272 
Current assets
Inventories
579,333 
3,172,120 
Debtors
1,058,578 
570,088 
Cash at bank and in hand
77,083 
13,596 
1,714,994 
3,755,804 
Creditors: amounts falling due within one year
(1,301,059)
(2,368,766)
Net current assets
413,935 
1,387,038 
Total assets less current liabilities
426,662 
1,393,310 
Creditors: amounts falling due after more than one year
- 
(882,141)
Net assets
426,662 
511,169 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
426,562 
511,069 
Shareholders' funds
426,662 
511,169 
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 27 December 2024 and were signed on its behalf by
Mr I Rosenthal Director Company Registration No. 06155224
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Ihomes (London) Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Ihomes (London) Limited is a private company, limited by shares, registered in England and Wales, registration number 06155224. The registered office is Unit 5 Swaker Yard, 2b Theobald Street, Herts, WD6 4SE, United Kingdom.
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:
Motor vehicles
20% Reducing Balance
Computer equipment
20% Reducing Balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investment in a subsidiary company is held at cost less accumulated impairment losses.
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Ihomes (London) Limited Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2023
6,050 
19,494 
25,544 
Additions
9,940 
916 
10,856 
Disposals
(6,050)
- 
(6,050)
At 31 March 2024
9,940 
20,410 
30,350 
Depreciation
At 1 April 2023
4,781 
14,691 
19,472 
Charge for the year
1,988 
1,144 
3,132 
On disposals
(4,781)
- 
(4,781)
At 31 March 2024
1,988 
15,835 
17,823 
Net book value
At 31 March 2024
7,952 
4,575 
12,527 
At 31 March 2023
1,269 
4,803 
6,072 
5
Investments
Subsidiary undertakings 
£ 
Valuation at 1 April 2023
200 
Valuation at 31 March 2024
200 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
925 
1,330 
Trade debtors
8,157 
7,638 
Amounts due from group undertakings etc.
1,049,470 
546,914 
Accrued income and prepayments
- 
14,180 
Other debtors
26 
26 
1,058,578 
570,088 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
1,152,192 
1,400,804 
Taxes and social security
- 
251 
Other creditors
122,818 
574,917 
Loans from directors
24,049 
295,677 
Accruals
2,000 
42,517 
Deferred income
- 
54,600 
1,301,059 
2,368,766 
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Ihomes (London) Limited Notes to the Accounts for the year ended 31 March 2024
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
- 
882,141 
The bank loans were repaid during the year. The other creditors are secured by a second legal charge over the company's property trading stock.
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Transactions with related parties
The directors own the company's entire issued ordinary share capital. As detailed in note 8, the amounts due from group undertakings are represented by iHomes (Enfield) Limited in the sum of £4,000 (2023 - £100) and iHomes (Hendon) Limited in the sum of £1,045,470 (2023 - £546,814), both being a wholly owned subsidiaries, which have common directors and which are interest free and repayable on demand.
11
Average number of employees
During the year the average number of employees was 5 (2023: 5).
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