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Company registration number:
04071866
AZ Homes Limited
Unaudited Financial Statements for the year ended
31 December 2024
AZ Homes Limited
Officers and Professional Advisers
Year ended
31 December 2024
Director
T Ogboru
Company secretary
T Ogboru
Registered office
36 Alicia Gardens
Harrow
HA3 8JE
United Kingdom
Accountant
Jemine Ogboru & Co
Alicia Gardens
Harrow
HA38JE
United Kingdom
AZ Homes Limited
Director's Report
Year ended
31 December 2024
The director presents the report and the unaudited
financial statements
of the company for the year ended 31 December 2024.

Directors

The director who served the company during the year was as follows:
T Ogboru

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
31 May 2025
and signed on behalf of the board by:
T Ogboru
Director
AZ Homes Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of AZ Homes Limited
Year ended
31 December 2024
As described on the statement of financial position, the Board of Directors of
AZ Homes Limited
are responsible for the preparation of the
financial statements
for the year ended
31 December 2024
, which comprise the income statement, statement of total comprehensive income, statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
Jemine Ogboru & Co
Alicia Gardens
Harrow
HA38JE
United Kingdom
Date:
31 May 2025
AZ Homes Limited
Income Statement
Year ended
31 December 2024
20242023
££
Turnover
32,900
 
31,440
 
Cost of sales
(5,250
) (3,054 )
Gross profit
27,650
 
28,386
 
Administrative expenses
(21,376
)
(17,758
)
Operating profit
6,274
 
10,628
 
Interest payable and similar expenses
(20,427
)
(26,938
)
Loss before tax
(14,153
)
(16,310
)
Tax on loss
1,144
  -  
Loss for the financial year
(13,009
)
(16,310
)
AZ Homes Limited
Statement of Total Comprehensive Income
Year ended
31 December 2024
20242023
££
Loss for the financial year
(13,009
)
(16,310
)
Total comprehensive income
(13,009
)
(16,310
)
AZ Homes Limited
Statement of Financial Position
31 December 2024
20242023
Note££
Fixed assets    
Tangible assets 5
605,000
 
605,000
 
Current assets    
Cash at bank and in hand
124
 
67
 
Creditors: amounts falling due within one year 6
(93,577
)
(85,402
)
Net current liabilities
(93,453
)
(85,335
)
Total assets less current liabilities 511,547   519,665  
Creditors: amounts falling due after more than one year 7
(333,145
)
(327,110
)
Provisions for liabilities
(2,902
)
(4,046
)
Net assets
175,500
 
188,509
 
Capital and reserves    
Called up share capital
2
 
2
 
Other reserves
172,098
 
175,000
 
Profit and loss account
3,400
 
13,507
 
Shareholders funds
175,500
 
188,509
 
For the year ending
31 December 2024
, 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 year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These
financial statements
were approved by the board of directors and authorised for issue on
31 May 2025
, and are signed on behalf of the board by:
T Ogboru
Director
Company registration number:
04071866
AZ Homes Limited
Statement of Changes in Equity
Year ended
31 December 2024
Called up share capitalOther reservesProfit and loss accountTotal
££££
At 1 January 2023
2
 
175,000
 
29,817
 
204,819
 
Loss for the year- - (16,310)(16,310)
Total comprehensive income for the year- - 
(16,310
)
(16,310
)
At 31 December 2023 and 
1 January 2024
2
 
175,000
 
13,507
 
188,509
 
Loss for the year- - (13,009)(13,009)
Other comprehensive income for the year:        
Reclassification from fair value reserve to profit and loss account- 
(2,902
)
2,902
 - 
Total comprehensive income for the year- 
(2,902
)
(10,107
)
(13,009
)
At
31 December 2024
2
 
172,098
 
3,400
 
175,500
 
AZ Homes Limited
Notes to the Financial Statements
Year ended
31 December 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
36 Alicia Gardens
,
Harrow
,
HA3 8JE
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, 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.

Investment properties

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

4 Average number of employees

The average number of persons employed by the company during the year was nil (2023:
1
).

5 Tangible assets

Land and buildings
£
Cost  
At
1 January 2024
and
31 December 2024
605,000
 
Depreciation  
At
1 January 2024
and
31 December 2024
-  
Carrying amount  
At
31 December 2024
605,000
 
At 31 December 2023
605,000
 

Investment property

Included in land and buildings are the following amounts in relation to investment properties:
2024
£
Carrying value at
1 January 2024
and
31 December 2024
605,000
 
As stated in note 1, investment properties are revalued annually and shown in the balance sheet at their open market value. The directors revalued the investment properties at 31st December 2023, and left the value at the same position as in the previous year. No depreciation is provided in respect of these properties. On an historical cost basis these would have been included at an original cost of £430,000 (2022 – £430.000) and aggregate depreciation of £nil (2022 - £nil). During the year an impairment loss of £nil (2022 - £nil) was recognized and written off within Administrative expenses in the profit and loss account.

6 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
4,806
 
4,806
 
Other creditors
88,771
 
80,596
 
93,577
 
85,402
 

7 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts
333,145
 
327,110
 

8 Fair value reserve

Included within other reserves is the fair value reserve as follows:
20242023
££
At start of year 175,000   175,000  
Reclassification from fair reserve to profit and loss account (2,902 ) -  
At end of year 172,098   175,000