HM Homes Ltd 10859971 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Other letting and operating of own or leased real estate Digita Accounts Production Advanced 6.30.9574.0 true true 10859971 2023-04-01 2024-03-31 10859971 2024-03-31 10859971 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 10859971 core:Non-currentFinancialInstruments 2024-03-31 10859971 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 10859971 bus:SmallEntities 2023-04-01 2024-03-31 10859971 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10859971 bus:FilletedAccounts 2023-04-01 2024-03-31 10859971 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10859971 bus:RegisteredOffice 2023-04-01 2024-03-31 10859971 bus:Director1 2023-04-01 2024-03-31 10859971 bus:Director2 2023-04-01 2024-03-31 10859971 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10859971 bus:Agent1 2023-04-01 2024-03-31 10859971 countries:AllCountries 2023-04-01 2024-03-31 10859971 2023-03-31 10859971 2022-04-01 2023-03-31 10859971 2023-03-31 10859971 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 10859971 core:Non-currentFinancialInstruments 2023-03-31 10859971 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 10859971

HM Homes Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

HM Homes Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4 to 6

 

HM Homes Ltd

Company Information

Directors

Mr Hiten Meisuria

Mrs Mira Meisuria

Registered office

3rd Floor
166 College Road
Harrow
Middlesex
HA1 1BH

Accountants

MG Contractor Services Ltd
Chartered Accountants
166 College Road
Harrow
Middlesex
HA1 1BH

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
HM Homes Ltd
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of HM Homes Ltd for the year ended 31 March 2024 as set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of HM Homes Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of HM Homes Ltd and state those matters that we have agreed to state to the Board of Directors of HM Homes Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than HM Homes Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that HM Homes Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of HM Homes Ltd. You consider that HM Homes Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of HM Homes Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

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

MG Contractor Services Ltd
Chartered Accountants
166 College Road
Harrow
Middlesex
HA1 1BH

20 December 2024

 

HM Homes Ltd

(Registration number: 10859971)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

869,483

861,984

Current assets

 

Cash at bank and in hand

 

3,257

8,338

Creditors: Amounts falling due within one year

5

(501,998)

(498,804)

Net current liabilities

 

(498,741)

(490,466)

Total assets less current liabilities

 

370,742

371,518

Creditors: Amounts falling due after more than one year

5

(365,779)

(365,779)

Net assets

 

4,963

5,739

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

4,863

5,639

Shareholders' funds

 

4,963

5,739

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.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 December 2024 and signed on its behalf by:
 

.........................................
Mr Hiten Meisuria
Director

 

HM Homes Ltd

Notes to the 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 & Wales.

The address of its registered office is:
3rd Floor
166 College Road
Harrow
Middlesex
HA1 1BH
United Kingdom

These financial statements were authorised for issue by the Board on 20 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

HM Homes Ltd

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

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

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Investment properties

2024
£

At 1 April

861,983

Additions

7,500

At 31 March

869,483

 

HM Homes Ltd

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

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Other creditors

501,998

498,804

Other creditors include amount due to Company under common control of £200,000 (2023: £200,000) and tenants deposit of £1,325.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

6

365,779

365,779

6

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

365,779

365,779

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

8

Related party transactions

During the year, the company made the following related party transactions:

Directors
At the balance sheet date, the amounts due to the Director was £300,673 (2023 - £298,804). These loans were unsecured, interest free and repayable on demand.

Company under common control
At the balance sheet date, the amounts due to the Company under common control was £200,000 (2023 - £200,000). These loans were unsecured, interest free and repayable on demand.