Homezzz Limited - Period Ending 2022-03-31

Homezzz Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 5

Homezzz Limited

(Registration number: 11243066)
Balance Sheet as at 31 March 2022

	Note	2022 £	2021 £
Fixed assets
Investments	4	1,768,844	1,768,844
Current assets
Debtors	5	846,817	222,251
Cash at bank and in hand		79	4
		846,896	222,255
Creditors: Amounts falling due within one year	6	(638,415)	(4,407)
Net current assets		208,481	217,848
Net assets		1,977,325	1,986,692
Capital and reserves
Called up share capital		200	200
Share premium reserve		1,999,900	1,999,900
Profit and loss account		(22,775)	(13,408)
Shareholders' funds		1,977,325	1,986,692

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors' Report has been taken.

Approved and authorised by the Board on 28 September 2022 and signed on its behalf by:
 

......................................... Mr S A Ismail Director

Homezzz Limited

Notes to the Financial Statements for the Year Ended 31 March 2022

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:
Northgate
118 North Street
Leeds
LS2 7PN
England

These financial statements were authorised for issue by the Board on 28 September 2022.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through funds provided by the parent company. The directors consider that these facilities will continue to be made available to the company. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would result if the going concern basis were not appropriate.

Audit report
The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 29 September 2022 was Matthew Geoffrey Price, who signed for and on behalf of Alextra Audit Limited.

Exemption from preparing group accounts

The company has taken advantage of the exemption in section 400 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that the company is included within the consolidated financial statements of their parent company, Salboy Limited.

Homezzz Limited

Notes to the Financial Statements for the Year Ended 31 March 2022

Judgements

In the application of the company's accounting policies, the directors are 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 considered to be 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 revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2021 - 2).

4	Investments

	2022 £	2021 £
Investments in subsidiaries	1,768,844	1,768,844

Subsidiaries	£
Cost or valuation
At 1 April 2021	1,768,844
Carrying amount
At 31 March 2022	1,768,844
At 31 March 2021	1,768,844

Homezzz Limited

Notes to the Financial Statements for the Year Ended 31 March 2022

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the group holds 20% or more of the nominal value of any class of share capital are as follows:

				Proportion of voting rights
Undertaking		Holding		and shares held				Principal Activity
Subsidiary undertaking				2022		2022
Naples Street Properties Limited		Ordinary		100%		100%		Development of building projects
Naples Street Properties 1 Limited		Indirect		100%		0%		Sale of real estate
Naples Street Properties 2 Limited		Indirect		100%		0%		Sale of real estate

All companies listed above hold the registered office of:
Unit 3
Birchwood One Business Park
Dewhurst Road
Birchwood
Warrington
England
WA3 7GB
England and Wales

5

Debtors

		2022 £	2021 £
Owed by group undertakings		846,717	222,151
Other debtors		100	100
		846,817	222,251

Homezzz Limited

Notes to the Financial Statements for the Year Ended 31 March 2022

6

Creditors

Creditors: amounts falling due within one year

	2022 £	2021 £
Due within one year
Owed to group undertakings	633,915	1,893
Accruals	4,500	2,514
	638,415	4,407

7	Parent and ultimate parent undertaking

The company's immediate parent is Salboy Limited, incorporated in England and Wales.

 

The parent of the largest group in which these financial statements are consolidated is Salboy Limited, incorporated in England and Wales.

The address of Salboy Limited is:
Unit 3 Birchwood One Business Park
Dewhurst Road
Birchwood
Warrington
England
WA3 7GB

The company has taken advantage of the exemption from disclosure of intra group transactions in accordance with FRS102 paragraph 33.1A. These accounts are consolidated within the group financial statements prepared by Salboy Limited.