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Registration number: 12432324

Bell Property Rentals Limited

Unaudited Financial Statements

for the Year Ended 31 December 2021

 

Bell Property Rentals Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Bell Property Rentals Limited

Company Information

Director

Mr R Bell

Registered office

18-20 High Street
Stevenage
Hertfordshire
SG1 3EJ

Accountants

Bracey's Accountants (Stevenage) Limited
Chartered Certified Accountant
18-20 High Street
Stevenage
Hertfordshire
SG1 3EJ

 

Bell Property Rentals Limited

(Registration number: 12432324)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

389,618

186,685

Current assets

 

Debtors

5

24,418

-

Cash at bank and in hand

 

200,276

11,631

 

224,694

11,631

Creditors: Amounts falling due within one year

6

(497,054)

(199,564)

Net current liabilities

 

(272,360)

(187,933)

Total assets less current liabilities

 

117,258

(1,248)

Creditors: Amounts falling due after more than one year

6

(111,843)

-

Net assets/(liabilities)

 

5,415

(1,248)

Capital and reserves

 

Called up share capital

100

100

Other reserves

22,936

-

Profit and loss account

(17,621)

(1,348)

Shareholders' funds/(deficit)

 

5,415

(1,248)

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 has been taken.

Approved and authorised by the director on 11 July 2022
 

 

Bell Property Rentals Limited

(Registration number: 12432324)
Balance Sheet as at 31 December 2021

.........................................
Mr R Bell
Director

 

Bell Property Rentals Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
18-20 High Street
Stevenage
Hertfordshire
SG1 3EJ

The principal place of business is:
Envirowaste Recycling Centre
Jacks Hill
Graveley
Hertfordshire
SG4 7EQ

These financial statements were authorised for issue by the director on 11 July 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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for rents received from tenants 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.

 

Bell Property Rentals Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Tax

The tax expense for the period comprises current and 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by either an external valuer or the director. In determining the value, observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset are used. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from tenants for rents due in the ordinary course of business.

Trade debtors are recognised at the transaction price.

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 at the transaction price.

 

Bell Property Rentals Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2020 - 1).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 January 2021

186,685

186,685

Additions

202,933

202,933

At 31 December 2021

389,618

389,618

Carrying amount

At 31 December 2021

389,618

389,618

At 31 December 2020

186,685

186,685

Included within the net book value of land and buildings above is £389,618 (2020 - £186,685) in respect of freehold land and buildings.
 

5

Debtors

2021
£

2020
£

Trade debtors

678

-

Other debtors

23,740

-

24,418

-

 

Bell Property Rentals Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

6

Creditors

Creditors: amounts falling due within one year

2021
£

2020
£

Due within one year

Taxation and social security

1,657

-

Accruals and deferred income

945

900

Other creditors

494,452

198,664

497,054

199,564

Creditors: amounts falling due after more than one year

Note

2021
£

2020
£

Due after one year

 

Loans and borrowings

8

111,843

-

Creditors include mortgages repayable by installments of £111,843 (2020: £nil) due over one year. The total borrowings of £111,843 are secured via a fixed and floating charge over the freehold properties owned by the company. The charge is in favour of LeadInvest Btl Limited.
 

7

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Share Capital of £1 each

100

100

100

100

         

8

Loans and borrowings

2021
£

2020
£

Non-current loans and borrowings

Bank borrowings

111,843

-

 

Bell Property Rentals Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

9

Related party transactions

Other transactions with the director


At the balance sheet date the company owed £951 (2020: £164) to Mr Rob Bell, the director.

This loan is provided interest free and is repayable on demand.

Summary of transactions with other related parties


At the balance sheet date the company owed £493,500 (2020: £198,500) to Stevenage Skip Hire Limited, a company connected by Mr R Bell common directorship. This loan is provided interest free and is repayable on demand.

 

10

Ultimate controlling party

The ultimate controlling party is Mr R Bell, the sole director and shareholder of the company.