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Registration number: 10844027

Invisible Homes Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Invisible Homes Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

Invisible Homes Limited

Company Information

Directors

M Wells

Elisabeth Hindocha

Mr Kyle Ferguson

Mr Charles Robert Winston Aram

Registered office

114 St Martin's Lane
Covent Garden
London
WC2N 4BE

Accountants

Bourner Bullock Chartered Accountants
114 St Martin's Lane
Covent Garden
London
WC2N 4BE

 

Invisible Homes Limited

(Registration number: 10844027)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

3,745

3,920

Current assets

 

Debtors

6

4,696

16,309

Cash at bank and in hand

 

79,865

32,572

 

84,561

48,881

Creditors: Amounts falling due within one year

7

(105,447)

(74,253)

Net current liabilities

 

(20,886)

(25,372)

Total assets less current liabilities

 

(17,141)

(21,452)

Creditors: Amounts falling due after more than one year

7

(1,583)

(3,309)

Net liabilities

 

(18,724)

(24,761)

Capital and reserves

 

Called up share capital

8

271

241

Share premium reserve

2,240,867

1,672,652

Retained earnings

(2,259,862)

(1,697,654)

Shareholders' deficit

 

(18,724)

(24,761)

 

Invisible Homes Limited

(Registration number: 10844027)
Balance Sheet as at 30 June 2024

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 and 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 Board on 15 August 2025 and signed on its behalf by:
 

.........................................
M Wells
Director

 

Invisible Homes Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
114 St Martin's Lane
Covent Garden
London
WC2N 4BE
United Kingdom

Principal activity

The principal activity of the Company is the provision of services as a private estate agent.

2

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.

Going concern

The company has made a loss in the period and has net current liabilities at the balance sheet date. Detailed financial forecasts have been prepared giving details of the expected resources required and the expected costs required to provide those resources. These forecasts show that the company expects to start to generate profits in April 2026. The financial statements have therefore been prepared on a going concern basis that assumes its shareholders will continue to support the company until then, and beyond that point if still necessary.

Changes in accounting estimate

Change to depreciation method

The depreciation method for office equipment has been changed from 25% straight line to 3 years straight line. No changes are required to the financial statements for the current or prior periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

 

Invisible Homes Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

Tax

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.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

3 years straight line

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.
 

 

Invisible Homes Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

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.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Invisible Homes Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

3

Significant judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and
assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and
the amounts reported for revenues and expenses during the year. However, the nature of estimation
means that actual outcomes could differ from those estimates. In the Director's opinion there are no
significant judgements or key sources of estimation uncertainty

4

Staff numbers

The average number of persons employed by the Company (including directors) during the year, was 6 (2023 - 5).

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 July 2023

6,108

6,108

Additions

1,850

1,850

Disposals

(1,425)

(1,425)

At 30 June 2024

6,533

6,533

Depreciation

At 1 July 2023

2,188

2,188

Charge for the year

2,025

2,025

Eliminated on disposal

(1,425)

(1,425)

At 30 June 2024

2,788

2,788

Carrying amount

At 30 June 2024

3,745

3,745

At 30 June 2023

3,920

3,920

6

Debtors

Current

2024
£

2023
£

Trade debtors

4,081

13,828

Prepayments

615

1,941

Other debtors

-

540

 

4,696

16,309

 

Invisible Homes Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

1,721

1,721

Trade creditors

 

31,967

38,122

Taxation and social security

 

46,380

27,924

Accruals and deferred income

 

12,710

4,100

Other creditors

 

12,669

2,386

 

105,447

74,253

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

1,583

3,309

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £0.01 each

27,079

271

24,089

241

       

During the year 2,990 ordinary £0.01 shares were issued for an aggregate value of £568,245 (including share premium).

9

Dividends

There were no dividends paid or proposed in the current or previous year.

10

Related party transactions

During the year the director paid expenses on behalf of the company totalling £Nil (2023: £2,560) and received payments totalling £Nil (2023: £150). At the balance sheet date the amount owed by the company totalled £6,239 (2023: £2,386), which included (2024) £3,853 in unpaid salary.

During the year, the company was charged fees of £11,664 (2023: £30,751) by Mrs Christine M Ansell Wells. At the year end, the company owed Mrs Christine M Ansell Wells £Nil (2023: £Nil) in this regard.