REGISTERED NUMBER: 04370970 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

HOMELINK RESIDENTIAL LIMITED

Page

Statement of Financial Position

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

-

-

Property, plant and equipment

5

58,185

68,294

58,185

68,294

CURRENT ASSETS

Debtors

6

456,700

499,594

Cash at bank

19,006

49,254

475,706

548,848

CREDITORS

Amounts falling due within one year

7

160,418

224,017

NET CURRENT ASSETS

315,288

324,831

TOTAL ASSETS LESS CURRENT LIABILITIES

373,473

393,125

CREDITORS

Amounts falling due after more than one year

8

(33,000

)

(77,000

)

PROVISIONS FOR LIABILITIES

10

(13,956

)

(16,178

)

NET ASSETS

326,517

299,947

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

326,515

299,945

326,517

299,947

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2025 and were signed on its behalf by:

Mr H Pantelides - Director

1.	STATUTORY INFORMATION

Homelink Residential Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

The accounts have been prepared for a period of 12 months whereas the comparatives are for a period of 9 months.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are significant judgements and estimates involved in the preparation of the financial statements.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax. Revenue is recognised when services are rendered to the customers.

Revenue represents the value of rental income including management and letting fees for the properties managed.Revenue is recognised evenly over the period of the rental agreement.

Revenue is recognised when services are rendered to the customers.

Goodwill

Goodwill is being written off in equal annual instalments over its estimated economic life of five years.

Property, plant and equipment

Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Short leasehold - 10% on cost

Plant and machinery - 20% on reducing balance

Fixtures and fittings - 20% on reducing balance

Motor vehicles - 20% on reducing balance

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalent

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

75,000

AMORTISATION

At 1 January 2024

and 31 December 2024

75,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Short

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2024

6,646

15,081

153,413

26,024

201,164

Additions

-

-

4,888

3,174

8,062

Disposals

-

-

-

(11,495

)

(11,495

)

At 31 December 2024

6,646

15,081

158,301

17,703

197,731

DEPRECIATION

At 1 January 2024

3,506

13,259

105,995

10,110

132,870

Charge for year

314

364

9,483

2,323

12,484

Eliminated on disposal

-

-

-

(5,808

)

(5,808

)

At 31 December 2024

3,820

13,623

115,478

6,625

139,546

NET BOOK VALUE

At 31 December 2024

2,826

1,458

42,823

11,078

58,185

At 31 December 2023

3,140

1,822

47,418

15,914

68,294

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

17,843

64,744

Other debtors

438,857

434,850

456,700

499,594

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

44,000

44,000

Trade creditors

5,779

12,267

Taxation and social security

98,524

63,406

Other creditors

12,115

104,344

160,418

224,017

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

33,000

77,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

77,000

121,000

Loan is secured by way of fixed and floating charge on the assets of the company and contains a negative pledge.

10.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

13,956

16,178

Deferred

tax

£

Balance at 1 January 2024

16,178

Credit to Income Statement during year

(2,222

)

Balance at 31 December 2024

13,956

11.	RELATED PARTY DISCLOSURES

Included in other debtors less than one year is an amount of £413,432 (2023: £409,824) due from connected companies under common control. The loan was interest free and recoverable on demand.

Included in the other creditors less than one year is an amount of £296 (2023: £7,296) due to a connected company with common control. The loan was interest free and repayable on demand.