Homzar Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
9 Berners Place
London
W1T 3AD

These financial statements were authorised for issue by the director on 17 December 2025.

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.

Revenue recognition

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

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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:

Homzar Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Asset class	Depreciation method and rate
Office Equipment	10% on written down value

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Website development	Over 10 years

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade 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.

Homzar Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

4

Taxation

Tax charged/(credited) in the profit and loss account

	2025 £	2024 £
Deferred taxation
Arising from origination and reversal of timing differences	(465)	-

Homzar Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5	Intangible assets

	Website development cost £	Total £
Cost or valuation
At 1 April 2024	12,680	12,680
At 31 March 2025	12,680	12,680
Amortisation
At 1 April 2024	8,481	8,481
Amortisation charge	526	526
At 31 March 2025	9,007	9,007
Carrying amount
At 31 March 2025	3,673	3,673
At 31 March 2024	4,199	4,199

6	Tangible assets

	Office equipment £	Total £
Cost or valuation
At 1 April 2024	49,965	49,965
At 31 March 2025	49,965	49,965
Depreciation
At 1 April 2024	42,437	42,437
Charge for the year	753	753
At 31 March 2025	43,190	43,190
Carrying amount
At 31 March 2025	6,775	6,775
At 31 March 2024	7,528	7,528

7

Stocks

	2025 £	2024 £
Finished goods and goods for resale	6,504	6,366

Homzar Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

8

Debtors

Current	2025 £	2024 £
Trade debtors	3,365	3,129
Vat recoverable	1,659	2,515
	5,024	5,644

Homzar Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

9

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	11	12,463	14,897
Trade creditors		30,686	41,074
Social security and other taxes		102,989	128,516
Accruals		2,680	3,780
Other creditors		390,514	390,514
Pension liability		344	331
Directors current account		47,619	23,191
		587,295	602,303
Due after one year
Loans and borrowings	11	36,767	43,884

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	11	36,767	43,884

10	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

11	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	36,767	43,884

Current loans and borrowings

	2025 £	2024 £
Bank overdrafts	12,463	14,897

12	Ultimate controlling party

The ultimate controlling party is Mr F Patel.

Homzar Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

13	Going concern

At 31 March 2025 there is a negative balance of £603,373 on the balance sheet. However, the director has provided assurance that he will meet the obligations as and when they fall due.