Company registration number 15233595 (England and Wales)
HOMEBRICK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
HOMEBRICK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
HOMEBRICK LIMITED
BALANCE SHEET
AS AT 31 OCTOBER 2024
31 October 2024
- 1 -
2024
Notes
£
£
Fixed assets
Tangible assets
5
350
Investment property
6
5,400,000
5,400,350
Current assets
Debtors
7
114,326
Cash at bank and in hand
656,382
770,708
Creditors: amounts falling due within one year
8
(118,245)
Net current assets
652,463
Total assets less current liabilities
6,052,813
Provisions for liabilities
(88)
Net assets
6,052,725
Capital and reserves
Called up share capital
9
50
Profit and loss reserves
6,052,675
Total equity
6,052,725

For the financial period ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 31 July 2025 and are signed on its behalf by:
George Souris
Director
Company registration number 15233595 (England and Wales)
HOMEBRICK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 2 -
1
Accounting policies
Company information

HOMEBRICK LIMITED is a private company limited by shares incorporated in England and Wales. The registered office is 1 Queens Parade, Brownlow Road, London, N11 2DN.

The company changed its legal name from Souris Holdings Limited to Homebrick Limited on 26 January 2024.

1.1
Reporting period

The company was incorporated on 25 October 2023 and accounts were prepared for the first time covering the period from incorporation to 31 October 2024.

1.2
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 a mounts 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.

1.3
Turnover

Rent receivable from commercial and residential units is recognised on a straight line basis over the term of the relevant lease / tenancy agreement.

1.4
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:

Plant and equipment
15% 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.

1.5
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 a t the reporting end date. Changes in fair value are recognised in profit or loss.

HOMEBRICK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ 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.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

HOMEBRICK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
Number
Total
1
3
Interest receivable and similar income
2024
£
Interest receivable and similar income includes the following:
Income from shares in group undertakings
5,936,500

On the 20 November 2023 the company was part of a group and was the recipient of a dividend in specie which was paid in relation to the demerger of E Souris & Sons Limited where the director of this company was also a director of E Souris & Sons Limited. During the reporting period, Homebrick Limited ceased to be a member of a group and it became a standalone company.

4
Taxation
2024
£
Current tax
UK corporation tax on profits for the current period
65,713
Deferred tax
Origination and reversal of timing differences
88
Total tax charge
65,801
HOMEBRICK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 5 -
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 25 October 2023
-
0
Additions
400
At 31 October 2024
400
Depreciation and impairment
At 25 October 2023
-
0
Depreciation charged in the period
50
At 31 October 2024
50
Carrying amount
At 31 October 2024
350
6
Investment property
2024
£
Fair value
At 25 October 2023
-
0
Additions
5,400,000
At 31 October 2024
5,400,000

Investment properties comprise of commercial and residential units. The fair value of the investment properties has been arrived at on the basis of a valuation carried out at 30 January 2023 by Michael Charles Chartered Surveyors RICS (Royal Institution of Chartered Surveyors) accredited, who are not connected with the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. As at 31 October 2024, the director is of the opinion that the fair value of the investment properties has remained unchanged.

7
Debtors
2024
Amounts falling due within one year:
£
Other debtors
114,326
HOMEBRICK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 6 -
8
Creditors: amounts falling due within one year
2024
£
Corporation tax
65,713
Other creditors
52,532
118,245
9
Called up share capital
2024
Ordinary share capital
£
Issued and fully paid
Ordinary of £1 each
50
10
Ultimate controlling party

The company was controlled throughout the current period by the director by virtue of the fact that he owned 84% of the entire issued share capital.

11
Directors' transactions

Dividends totalling £34,692 were paid in the period in respect of shares held by the company's director.

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