Bomad Investments I Limited
for the Year Ended 30 April 2024
Bomad Investments I Limited
Contents
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
Bomad Investments I Limited
(Registration number: 11831017)
Balance Sheet as at 30 April 2024
Note |
2024 |
2023 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
2,023,000 |
1,652,001 |
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Share premium reserve |
110,880 |
- |
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Retained earnings |
142,571 |
129,728 |
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Shareholders' funds |
2,276,451 |
1,781,729 |
For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
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
Bomad Investments I Limited
(Registration number: 11831017)
Balance Sheet as at 30 April 2024
......................................... |
Bomad Investments I Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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.
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.
Finance income and costs policy
Interest income arising on amounts advanced to related parties is accrued as it arises.
Tax
The tax expense for the period comprises current 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.
Bomad Investments I Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
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.
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. Dividends on equity securities are recognised in income when receivable.
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.
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.
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Investments |
2024 |
2023 |
|
Investments in subsidiaries b/f |
|
|
Fixed asset group loan |
3,397,642 |
2,234,837 |
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Bomad Investments I Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Subsidiaries |
£ |
Cost or valuation |
|
At 1 May 2023 |
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Provision |
|
Carrying amount |
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At 30 April 2024 |
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At 30 April 2023 |
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Fixed asset group loan
£ |
|
Cost or valuation |
|
At 1 May 2023 |
2,234,837 |
Additions |
1,162,805 |
At 30 April 2024 |
3,397,642 |
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2024 |
2023 |
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Subsidiary undertakings |
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8th Floor
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Subsidiary undertakings |
Bomad Homes I Limited The principal activity of Bomad Homes I Limited is |
Bomad Investments I Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Fixed asset group Loan
This relates to amounts advanced to Bomad Homes I Limited. See Related Party Note for additional details.
Debtors |
Note |
2024 |
2023 |
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Amounts owed by group undertakings |
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Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Trade creditors |
24,647 |
- |
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Amounts owed to associates |
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Accruals and deferred income |
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Corporation tax |
24,812 |
18,790 |
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Other creditors |
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Other creditors relates to amounts received in advance of a future subscription for share capital after the end of the accounting period.
Bomad Investments I Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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|
- |
- |
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1 |
|
- |
- |
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1,652,000 |
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|
2,023,000 |
- |
- |
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|
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|
The 2020 Redeemable Shares were preference shares which had no fixed coupon and for which dividends were only payable at the discretion of the directors.
On 4 October 2023 the entire class of £1,000 2020 Redeemable Shares converted into £1,000 Ordinary Shares. On the same date, the company repurchased 25 £1,000 Ordinary Shares and 1 £1 Ordinary Share and cancelled them.
In addition, on 4 October 2023 the company alloted a further 396 £1,000 Ordinary Shares.
Bomad Investments I Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Related party transactions |
Loans to related parties
2024 |
Subsidiary |
Total |
At start of period |
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Advanced |
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Interest transactions |
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At end of period |
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2023 |
Subsidiary |
Total |
At start of period |
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Advanced |
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Interest transactions |
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At end of period |
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Terms of loans to related parties
Loans from related parties
2024 |
Other related parties |
Total |
At start of period |
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Advanced |
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Repaid |
( |
( |
At end of period |
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Bomad Investments I Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
2023 |
Other related parties |
Total |
At start of period |
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Advanced |
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Repaid |
( |
( |
At end of period |
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Terms of loans from related parties
Parent and ultimate parent undertaking |
Following the creation of the REIT group on 1 February 2024, Bomad Investments I Limited is owned via Homenow Investments Limited Partnership