Homestreet Purley Way Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 13405134 (England and Wales)

Homestreet Purley Way Ltd

Unaudited Financial Statements

for the Year Ended 31st May 2023

Page

Company Information

1

Chartered Certified Accountants' Report

2

Abridged Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

Mr M E S Carvalho

REGISTERED OFFICE:

69 Lambeth Walk

London

SE11 6DX

REGISTERED NUMBER:

13405134 (England and Wales)

ACCOUNTANTS:

Naail & Co

Chartered Certified Accountants

69 Lambeth Walk

London

SE11 6DX

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Homestreet Purley Way Ltd for the year ended 31st May 2023 which comprise the Abridged Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Homestreet Purley Way Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Homestreet Purley Way Ltd and state those matters that we have agreed to state to the director of Homestreet Purley Way Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Homestreet Purley Way Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Homestreet Purley Way Ltd. You consider that Homestreet Purley Way Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Homestreet Purley Way Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Naail & Co

Chartered Certified Accountants

69 Lambeth Walk

London

SE11 6DX

Date: .............................................

FIXED ASSETS

Investment property

5

255,000

300,000

CURRENT ASSETS

Cash at bank and in hand

2,768

2,208

CREDITORS

Amounts falling due within one year

257,660

251,402

NET CURRENT LIABILITIES

(254,892

)

(249,194

)

TOTAL ASSETS LESS CURRENT LIABILITIES

108

50,806

CAPITAL AND RESERVES

Called up share capital

6

99

99

Retained earnings

9

50,707

SHAREHOLDERS' FUNDS

108

50,806

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19th February 2024 and were signed by:

Mr M E S Carvalho - Director

1.	STATUTORY INFORMATION

Homestreet Purley Way Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is generated from the ordinary activities of the business and is recognized when the right to consideration becomes due.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern

In the director's assessment of the company's ability to continue as a going concern, there are no material uncertainties that may cast significant doubt about the company's ability to continue as a going concern.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st June 2022

300,000

Revaluations

(45,000

)

At 31st May 2023

255,000

NET BOOK VALUE

At 31st May 2023

255,000

At 31st May 2022

300,000

Fair value at 31st May 2023 is represented by:

£

Valuation in 2023

255,000

If investment property had not been revalued it would have been included at the following historical cost:

2023

2022

£

£

Cost

246,338

246,338

Aggregate depreciation

(4,926

)

(2,463

)

Investment property was valued on fair valve basis on 17th May 2023 by White Horse Surveyors Ltd .

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

99

Ordinary

£1

99

99

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £2,850 were paid to the director .

Mr M Carvalho

Director & 33% shareholder

At the reporting date, the company owed £85,367 (2022: £85,367) to Mr Carvalho. This is an interest free loan with no set repayment terms.

Mr G Lester

33% shareholder

At the reporting date, the company owed £85,367 (2022: £80,667) to Mr Lester. This is an interest free loan with no set repayment terms.

Mr B Bhana

33% shareholder

At the reporting date, the company owed £85,367 (2022: £85,367) to Mr Bhana. This is an interest free loan with no set repayment terms.