Registered number
04080433
Belroc Ltd
Report and Accounts
28 February 2023
Belroc Ltd
Registered number: 04080433
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,258,849 2,258,849
Investments 4 16 16
2,258,865 2,258,865
Current assets
Debtors 5 146,313 52,176
Cash at bank and in hand 41,660 32,080
187,973 84,256
Creditors: amounts falling due within one year 6 (19,597) (4,125)
Net current assets 168,376 80,131
Total assets less current liabilities 2,427,241 2,338,996
Provisions for liabilities (77,808) (77,808)
Net assets 2,349,433 2,261,188
Capital and reserves
Called up share capital 100 100
Fair value reserve 7 1,067,841 1,067,841
Profit and loss account 1,281,492 1,193,247
Shareholders' funds 2,349,433 2,261,188
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C Zeloof
Director
Approved by the board on 27 September 2023
Belroc Ltd
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Investment property
Land and buildings
£
Cost
At 1 March 2022 2,258,849
At 28 February 2023 2,258,849
Depreciation
At 28 February 2023 -
Net book value
At 28 February 2023 2,258,849
At 28 February 2022 2,258,849
The investment properties were valued at £2,275,000 by Savills in March 2021. No depreciation is provided in respect of these properties.
On an historical cost basis these would have been included at an original cost of £810,959 (2004 - £810,959).
4 Investments
Other
investments
£
Cost
At 1 March 2022 16
At 28 February 2023 16
The company is a joint venture partner in a property development joint venture.
Unlisted investment represents the cost of company's investment in a joint venture. Shares in
participating interest represents 16.48% interest in Farringdon Road Limited, a company
registered in England and Wales
5 Debtors 2023 2022
£ £
Trade debtors 187 -
Amounts owed by group undertakings and undertakings in which the company has a participating interest 146,126 52,176
146,313 52,176
6 Creditors: amounts falling due within one year 2023 2022
£ £
Corporation tax 5,168 1,385
Other creditors 14,429 2,740
19,597 4,125
7 Fair value reserve 2023 2022
£ £
At 1 March 2022 1,067,841 1,067,841
At 28 February 2023 1,067,841 1,067,841
8 Controlling party
The Company is wholly owned subsidairy of Alephbet Ltd, a Company incorporated in England. The Company has taken advantage of the exemption under Companies Act 2006 requiring to prepare group accounts as it falls under a small group.
9 Other information
Belroc Ltd is a private company limited by shares and incorporated in England. Its registered office is:
20 Coxon Street
Spondon
Derby
DE21 7JG
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