Homezzz Limited - Period Ending 2021-03-31

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 2021

	Note	2021 £	2020 £
Fixed assets
Investments	4	1,768,844	1,768,844
Current assets
Debtors	5	222,251	222,251
Cash at bank and in hand		4	-
		222,255	222,251
Creditors: Amounts falling due within one year	6	(4,407)	(2,028)
Net current assets		217,848	220,223
Net assets		1,986,692	1,989,067
Capital and reserves
Called up share capital		200	200
Share premium reserve		1,999,900	1,999,900
Profit and loss account		(13,408)	(11,033)
Shareholders' funds		1,986,692	1,989,067

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 21 September 2021 and signed on its behalf by:
 

......................................... Mr Simon Anthony Ismail Director

Homezzz Limited

Notes to the Financial Statements for the Year Ended 31 March 2021

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 21 September 2021.

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.

Audit report
The Independent Auditor's Report was qualified. This is the first period that the company has been audited and as such we have not been able to obtain sufficient appropriate audit evidence regarding the opening balances. We have audited the financial statements of Homezzz Limited (the 'company') for the period ended 31 March 2021, which comprise the Profit and Loss Account and Statement of Retained Earnings, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 Section 1A The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). The name of the Senior Statutory Auditor who signed the audit report on 24 September 2021 was Matthew Geoffrey Price, who signed for and on behalf of Alextra Audit Limited.

Homezzz Limited

Notes to the Financial Statements for the Year Ended 31 March 2021

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.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

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 (2020 - 2).

4	Investments

	2021 £	2020 £
Investments in subsidiaries	1,768,844	1,768,844

Subsidiaries	£
Cost or valuation
At 1 April 2020	1,768,844
Provision
Carrying amount
At 31 March 2021	1,768,844
At 31 March 2020	1,768,844

Homezzz Limited

Notes to the Financial Statements for the Year Ended 31 March 2021

Details of undertakings

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

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2021	2020
Subsidiary undertakings
Naples Street Properties Ltd	Unit 3 Birchwood One Business Park Dewhurst Road Birchwood Warrington England WA3 7GB England and Wales	Ordinary	100%	100%

5

Debtors

	Note	2021 £	2020 £
Amounts owed by group undertakings and undertakings in which the company has a participating interest		222,151	222,151
Other debtors		100	100
		222,251	222,251

Homezzz Limited

Notes to the Financial Statements for the Year Ended 31 March 2021

6

Creditors

Creditors: amounts falling due within one year

	2021 £	2020 £
Due within one year
Amounts owed to group undertakings and undertakings in which the company has a participating interest	1,893	1,014
Accruals and deferred income	2,514	1,014
	4,407	2,028

7	Parent and ultimate parent undertaking

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

 

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