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HOME FINANCE CENTRE LIMITED

Registered Number
13304927
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

HOME FINANCE CENTRE LIMITED
Company Information
for the year from 1 November 2023 to 31 October 2024

Director

Chandrakant Bhimji Khimji

Registered Address

Unit 2, Archgate Business Centre 823-825 High Road
North Finchley
London
N12 8UB

Registered Number

13304927 (England and Wales)
HOME FINANCE CENTRE LIMITED
Balance Sheet as at
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3210,000240,000
Tangible assets41,6462,492
211,646242,492
Current assets
Debtors531,76632,467
Cash at bank and on hand4,542903
36,30833,370
Creditors amounts falling due within one year6(17,320)(23,693)
Net current assets (liabilities)18,9889,677
Total assets less current liabilities230,634252,169
Creditors amounts falling due after one year7(30,729)(1,182)
Net assets199,905250,987
Capital and reserves
Called up share capital250,100250,100
Profit and loss account(50,195)887
Shareholders' funds199,905250,987
The financial statements were approved and authorised for issue by the Director on 18 July 2025, and are signed on its behalf by:
Chandrakant Bhimji Khimji
Director
Registered Company No. 13304927
HOME FINANCE CENTRE LIMITED
Notes to the Financial Statements
for the year ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Intangible assets
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten years.
Tangible fixed assets and depreciation
Tangible fixed assets are initially stated at cost and subsequently at cost less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment4
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortized cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year54
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 November 23300,000300,000
At 31 October 24300,000300,000
Amortisation and impairment
At 01 November 2360,00060,000
Charge for year30,00030,000
At 31 October 2490,00090,000
Net book value
At 31 October 24210,000210,000
At 31 October 23240,000240,000
4.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 November 233,3853,385
At 31 October 243,3853,385
Depreciation and impairment
At 01 November 23893893
Charge for year846846
At 31 October 241,7391,739
Net book value
At 31 October 241,6461,646
At 31 October 232,4922,492
The netbook value of office equipment includes assets held under finance leases or hire purchase contracts of £1,013 (2023 : £1,520) and accumulated depreciation charge in respect of these assets is £507 (2023 : £507).
5.Debtors: amounts due within one year

2024

2023

££
Other debtors31,76632,467
Total31,76632,467
6.Creditors: amounts due within one year

2024

2023

££
Taxation and social security6,51715,938
Finance lease and HP contracts405405
Other creditors8,8035,238
Accrued liabilities and deferred income1,5952,112
Total17,32023,693
7.Creditors: amounts due after one year

2024

2023

££
Other creditors30,7291,182
Total30,7291,182
Included in other creditors due after one year is an amount of £30,000 (2023 : £Nil) a loan from HL Partnership.
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts7291,182
9.Related party transactions
Included in other debtors at the year end is an amount of £17,572 (2023 : £24,594 debit) due from the director. Included in other debtors falling due within one year is an amount of £6,258 (2023 : £2,448) due from Treasure Assets Financial Management Ltd, £5,310 (2023 : £2,800) due from Crown Capital Investment Ltd, £2,625 (2023 : £2,625) due from Treasure Assets Limited, companies connected to the director.