Homestore Online Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Homestore Online Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC574986 . The registered office is 13 King Street, Bathgate, West Lothian, EH48 1NU.

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

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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 have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

2.2. Going Concern Disclosure

At the balance sheet date the company had net liabilities of £101,668 and it made a loss of £122,579 for the year. It owes £87,984 to Pound Savers (UK) Ltd, a company under common control, which is repayable on demand. The company therefore depends on the continued support of the director and of the companies under her control. These conditions indicate a material uncertainty that may cast significant doubt on the company's ability to continue as a going concern.

At the time of approving the financial statements, the director has a reasonable expectation that this support will continue and that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements. The financial statements do not include the adjustments that would result if the company were unable to continue as a going concern.

2.3. Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value over their expected useful lives on the following bases:

Fixtures & Fittings	25% reducing balance
Computer Equipment	20% reducing balance

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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Homestore Online Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 January 2026

2.6. Financial Instruments

The company only enters into basis financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans to and from related parties.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

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

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Cash and cash equivalents included cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

2.7. Taxation

Taxation represents the sum of tax currently payable and deferred tax. The company’s liability for current tax is calculated using tax rates that have been enacted or subsequently enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the director considers that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

2.8. Impairment of non-financial assets

At each reporting date non-financial assets not carried at fair value, like plant and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

2.9. Provisions

Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation at the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 5 (2025: 3)

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Homestore Online Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 January 2026

4. Tangible Assets

	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 31 January 2025	1,075	2,608	3,683

As at 30 January 2026	1,075	2,608	3,683

Depreciation
As at 31 January 2025	807	977	1,784
Provided during the period	67	326	393

As at 30 January 2026	874	1,303	2,177

Net Book Value
As at 30 January 2026	201	1,305	1,506

As at 31 January 2025	268	1,631	1,899

5. Stocks

	2026	2025
	£	£
Finished goods	49,500	49,500

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	-	50,240
Other debtors	50,529	6,041

	50,529	56,281

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	11,979	-
Bank loans and overdrafts	9,996	9,996
Other creditors	150,643	33,694
Taxation and social security	11,132	21,593

	183,750	65,283

8. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Bank loans	22,235	24,574

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Homestore Online Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 January 2026

9. Related Party Transactions

During the year, the company had a balance due to Pound Savers (UK) Ltd, a company under common control through common directorships. At the year end, the amount owed was £87,984 (2025: £28,970). The balance is unsecured, interest-free and repayable on demand.

The company also had a balance due from Discount Store UK 1234 Ltd, a company under the control of a close family member of the director. At the year end, the amount due to the company was £48,297 (2025: £50,240). This balance is also unsecured, interest-free and repayable on demand.

Transactions during the year

The company recharged shared staff and premises costs of £72,237 to Discount Store UK 1234 Ltd and £35,083 to Pound Savers (UK) Ltd, apportioned on third-party sales.

The company was charged management fees of £60,000 by Discount Store UK 1234 Ltd and £30,000 by Pound Savers (UK) Ltd.

Pound Savers (UK) Ltd recharged the company £66,781 for its share of stock, packaging and postage costs.

10. Ultimate Controlling Party

The company's ultimate controlling party is Mrs Zara Khursheed, the director, by virtue of her ownership of 75% or more of the issued share capital of the company.

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		1,506		1,899

			1,506		1,899
CURRENT ASSETS
Stocks	5	49,500		49,500
Debtors	6	50,529		56,281
Cash at bank and in hand		2,782		3,088

		102,811		108,869
Creditors: Amounts Falling Due Within One Year	7	(183,750 )		(65,283 )

NET CURRENT ASSETS (LIABILITIES)			(80,939 )		43,586

TOTAL ASSETS LESS CURRENT LIABILITIES			(79,433 )		45,485

Creditors: Amounts Falling Due After More Than One Year	8		(22,235 )		(24,574 )

NET (LIABILITIES)/ASSETS			(101,668 )		20,911

CAPITAL AND RESERVES
Called up share capital			100		100
Profit and Loss Account			(101,768 )		20,811

SHAREHOLDERS' FUNDS			(101,668)		20,911