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COMPANY REGISTRATION NUMBER: 03145519
Homestyle Properties Limited
Filleted Unaudited Financial Statements
28 February 2025
Homestyle Properties Limited
Financial Statements
Period from 1st May 2024 to 28th February 2025
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Homestyle Properties Limited
Statement of Financial Position
28 February 2025
28 Feb 25
30 Apr 24
Note
£
£
£
£
Current assets
Debtors
4
100
70,000
Cash at bank and in hand
164,496
----
---------
100
234,496
Creditors: amounts falling due within one year
5
1,960
----
---------
Net current assets
100
232,536
----
---------
Total assets less current liabilities
100
232,536
----
---------
Net assets
100
232,536
----
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
232,436
----
---------
Shareholders funds
100
232,536
----
---------
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 period ending 28th February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 1 March 2025 , and are signed on behalf of the board by:
R R Mackay
Director
Company registration number: 03145519
Homestyle Properties Limited
Notes to the Financial Statements
Period from 1st May 2024 to 28th February 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is First Floor, 67 Church Road, Hove, BN3 2BD, England.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and Fittings
-
15% reducing balance
4. Debtors
28 Feb 25
30 Apr 24
£
£
Other debtors
100
70,000
----
--------
5. Creditors: amounts falling due within one year
28 Feb 25
30 Apr 24
£
£
Social security and other taxes
1,585
Other creditors
375
----
-------
1,960
----
-------
6. Related party transactions
The company is controlled by Mr R R Mackay by virtue of his 100% interest in the holding company, Hamilton Compass Limited.
7. Controlling party
The Company's ultimate parent is Hamilton Compass Limited, a company registered in England & Wales. The registered office of Hamilton Compass Limited is First Floor, 67 Church Road, Hove, England BN3 2BD.