Company registration number 05999543 (England and Wales)
HOMES 4 BUSINESS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
HOMES 4 BUSINESS LIMITED
COMPANY INFORMATION
Director
M A Roberts
Company number
05999543
Registered office
3-4 Oaktree Business Park
Cadley Hill Road
Swadlincote
Derbyshire
DE11 9DJ
Accountants
Jerroms GCN Limited
West Point, Second Floor
Mucklow Office Park
Mucklow Hill
Halesowen
B62 8DY
HOMES 4 BUSINESS LIMITED
CONTENTS
Page
Accountants' report
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 6
HOMES 4 BUSINESS LIMITED
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF HOMES 4 BUSINESS LIMITED
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Homes 4 Business Limited for the year ended 30 November 2024 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.
This report is made solely to the board of directors of Homes 4 Business Limited, as a body, in accordance with the terms of our engagement letter dated 1 July 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Homes 4 Business Limited and state those matters that we have agreed to state to the board of directors of Homes 4 Business Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Homes 4 Business Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Homes 4 Business Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Homes 4 Business Limited. You consider that Homes 4 Business Limited 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 financial statements of Homes 4 Business Limited. 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 financial statements.
Jerroms GCN Limited
Chartered Certified Accountants
West Point, Second Floor
Mucklow Office Park
Mucklow Hill
Halesowen
B62 8DY
28 May 2025
HOMES 4 BUSINESS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2024
30 November 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,964
5,100
Investment property
4
766,805
766,805
771,769
771,905
Current assets
Debtors
5
149
1,862
Cash at bank and in hand
4,420
3,600
4,569
5,462
Creditors: amounts falling due within one year
6
(223,380)
(210,986)
Net current liabilities
(218,811)
(205,524)
Total assets less current liabilities
552,958
566,381
Creditors: amounts falling due after more than one year
7
(181,118)
(202,321)
Net assets
371,840
364,060
Capital and reserves
Called up share capital
9
30
30
Profit and loss reserves
371,810
364,030
Total equity
371,840
364,060
HOMES 4 BUSINESS LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2024
30 November 2024
- 3 -
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 28 May 2025
M A Roberts
Director
Company registration number 05999543 (England and Wales)
HOMES 4 BUSINESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 4 -
1
Accounting policies
Company information
Homes 4 Business Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3-4 Oaktree Business Park, Cadley Hill Road, Swadlincote, Derbyshire, DE11 9DJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
2% straight line
Fixtures and fittings
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
HOMES 4 BUSINESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
3
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 December 2023 and 30 November 2024
6,700
500
7,200
Depreciation and impairment
At 1 December 2023
1,608
492
2,100
Depreciation charged in the year
134
2
136
At 30 November 2024
1,742
494
2,236
Carrying amount
At 30 November 2024
4,958
6
4,964
At 30 November 2023
5,092
8
5,100
4
Investment property
2024
£
Fair value
At 1 December 2023 and 30 November 2024
766,805
HOMES 4 BUSINESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,437
Other debtors
149
425
149
1,862
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
26,819
25,485
Trade creditors
385
2,772
Corporation tax
411
760
Other taxation and social security
1,301
244
Other creditors
194,464
181,725
223,380
210,986
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
181,118
202,321
8
Loans and overdrafts
2024
2023
£
£
Bank loans
207,937
227,806
Payable within one year
26,819
25,485
Payable after one year
181,118
202,321
The bank loan is secured by a charge over property owned by the company by National Westminster Bank Plc dated 23 February 2007.
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
30
30
30
30