Silverfin false 31/05/2023 01/06/2022 31/05/2023 B W Thomson 24/05/2007 J Thomson 06/05/2014 02 October 2023 The principal activity of the company is graphic design and design consultancy. 06259172 2023-05-31 06259172 bus:Director1 2023-05-31 06259172 bus:Director2 2023-05-31 06259172 2022-05-31 06259172 core:CurrentFinancialInstruments 2023-05-31 06259172 core:CurrentFinancialInstruments 2022-05-31 06259172 core:ShareCapital 2023-05-31 06259172 core:ShareCapital 2022-05-31 06259172 core:RetainedEarningsAccumulatedLosses 2023-05-31 06259172 core:RetainedEarningsAccumulatedLosses 2022-05-31 06259172 core:Goodwill 2022-05-31 06259172 core:PatentsTrademarksLicencesConcessionsSimilar 2022-05-31 06259172 core:Goodwill 2023-05-31 06259172 core:PatentsTrademarksLicencesConcessionsSimilar 2023-05-31 06259172 core:FurnitureFittings 2022-05-31 06259172 core:FurnitureFittings 2023-05-31 06259172 bus:OrdinaryShareClass1 2023-05-31 06259172 2022-06-01 2023-05-31 06259172 bus:FullAccounts 2022-06-01 2023-05-31 06259172 bus:SmallEntities 2022-06-01 2023-05-31 06259172 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 06259172 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 06259172 bus:Director1 2022-06-01 2023-05-31 06259172 bus:Director2 2022-06-01 2023-05-31 06259172 core:Goodwill core:TopRangeValue 2022-06-01 2023-05-31 06259172 core:PatentsTrademarksLicencesConcessionsSimilar core:TopRangeValue 2022-06-01 2023-05-31 06259172 core:FurnitureFittings 2022-06-01 2023-05-31 06259172 2021-06-01 2022-05-31 06259172 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 06259172 bus:OrdinaryShareClass1 2021-06-01 2022-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 06259172 (England and Wales)

BELIEVE IN LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2023
Pages for filing with the registrar

BELIEVE IN LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2023

Contents

BELIEVE IN LIMITED

COMPANY INFORMATION

For the financial year ended 31 May 2023
BELIEVE IN LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 May 2023
DIRECTORS B W Thomson
J Thomson
SECRETARY J Thomson
REGISTERED OFFICE Centenary House Peninsula Park
Rydon Lane
Exeter
EX2 7XE
United Kingdom
COMPANY NUMBER 06259172 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
BELIEVE IN LIMITED

BALANCE SHEET

As at 31 May 2023
BELIEVE IN LIMITED

BALANCE SHEET (continued)

As at 31 May 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 3,688 2,782
3,688 2,782
Current assets
Debtors 5 40,775 20,162
Cash at bank and in hand 81,326 67,128
122,101 87,290
Creditors: amounts falling due within one year 6 ( 20,837) ( 10,812)
Net current assets 101,264 76,478
Total assets less current liabilities 104,952 79,260
Net assets 104,952 79,260
Capital and reserves
Called-up share capital 7 1 1
Profit and loss account 104,951 79,259
Total shareholder's funds 104,952 79,260

For the financial year ending 31 May 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Believe In Limited (registered number: 06259172) were approved and authorised for issue by the Board of Directors on 02 October 2023. They were signed on its behalf by:

B W Thomson
Director
BELIEVE IN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
BELIEVE IN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Believe In Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. There are no material departures from FRS 102.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Trademarks, patents and licences 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Government grants

Government grants have not been received in the year, however were received in the previous year and were recognised using the accruals model of Section 24 of FRS102. During the prior year a total revenue grant of £8,544 was recognised in the accounts for Coronavirus Job Retention Scheme to match the revenue against the related costs.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Intangible assets

Goodwill Trademarks, patents
and licences
Total
£ £ £
Cost
At 01 June 2022 10,000 250 10,250
At 31 May 2023 10,000 250 10,250
Accumulated amortisation
At 01 June 2022 10,000 250 10,250
At 31 May 2023 10,000 250 10,250
Net book value
At 31 May 2023 0 0 0
At 31 May 2022 0 0 0

4. Tangible assets

Fixtures and fittings Total
£ £
Cost
At 01 June 2022 13,087 13,087
Additions 1,708 1,708
Disposals ( 1,500) ( 1,500)
At 31 May 2023 13,295 13,295
Accumulated depreciation
At 01 June 2022 10,305 10,305
Charge for the financial year 545 545
Disposals ( 1,243) ( 1,243)
At 31 May 2023 9,607 9,607
Net book value
At 31 May 2023 3,688 3,688
At 31 May 2022 2,782 2,782

5. Debtors

2023 2022
£ £
Trade debtors 35,849 18,790
Other debtors 4,926 1,372
40,775 20,162

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 5,500 4,138
Amounts owed to directors 0 624
Accruals 2,281 2,178
Other taxation and social security 13,056 3,872
20,837 10,812

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1