Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-312022-02-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07545249 2022-02-01 2023-01-31 07545249 2021-02-01 2022-01-31 07545249 2023-01-31 07545249 2022-01-31 07545249 c:Director3 2022-02-01 2023-01-31 07545249 d:PlantMachinery 2022-02-01 2023-01-31 07545249 d:PlantMachinery 2023-01-31 07545249 d:PlantMachinery 2022-01-31 07545249 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 07545249 d:CurrentFinancialInstruments 2023-01-31 07545249 d:CurrentFinancialInstruments 2022-01-31 07545249 d:Non-currentFinancialInstruments 2023-01-31 07545249 d:Non-currentFinancialInstruments 2022-01-31 07545249 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 07545249 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 07545249 d:ShareCapital 2023-01-31 07545249 d:ShareCapital 2022-01-31 07545249 d:RetainedEarningsAccumulatedLosses 2023-01-31 07545249 d:RetainedEarningsAccumulatedLosses 2022-01-31 07545249 c:FRS102 2022-02-01 2023-01-31 07545249 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 07545249 c:FullAccounts 2022-02-01 2023-01-31 07545249 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 07545249 6 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure
Registered number: 07545249


BELVEDERE ENERGY INVESTMENTS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 JANUARY 2023

 
BELVEDERE ENERGY INVESTMENTS LIMITED
REGISTERED NUMBER: 07545249

BALANCE SHEET
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,319,594
1,411,643

Investments
 5 
395,957
395,957

  
1,715,551
1,807,600

Current assets
  

Debtors
 6 
435,549
587,095

Cash at bank and in hand
 7 
122,203
23,650

  
557,752
610,745

Creditors: amounts falling due within one year
 8 
(3,529,384)
(3,400,387)

Net current liabilities
  
 
 
(2,971,632)
 
 
(2,789,642)

Total assets less current liabilities
  
(1,256,081)
(982,042)

  

Net liabilities
  
(1,256,081)
(982,042)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(1,256,082)
(982,043)

  
(1,256,081)
(982,042)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 September 2023.



Page 1

 
BELVEDERE ENERGY INVESTMENTS LIMITED
REGISTERED NUMBER: 07545249
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2023


G. W.  Branch
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
BELVEDERE ENERGY INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

The company was incorporated in the UK and is registered in England and wales as a company with liability limited by share capital. The registered office of the company is 1 Bartholomew Lane, London, England, EC2N 2AX.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
BELVEDERE ENERGY INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
4% Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
BELVEDERE ENERGY INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each Balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.7

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.

For financial assets measured at cost less impairment, the impairment loss is measured as the
Page 5

 
BELVEDERE ENERGY INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)


2.10
Financial instruments (continued)

difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 February 2022
2,301,230



At 31 January 2023

2,301,230



Depreciation


At 1 February 2022
889,587


Charge for the year on owned assets
92,049



At 31 January 2023

981,636



Net book value



At 31 January 2023
1,319,594



At 31 January 2022
1,411,643

Page 6

 
BELVEDERE ENERGY INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 February 2022
395,957



At 31 January 2023
395,957





6.


Debtors

2023
2022
£
£

Due after more than one year

Deferred tax asset
186,771
186,771

186,771
186,771

Due within one year

Trade debtors
28,914
74,095

Amounts owed by group undertakings
76,573
216,911

Other debtors
3,049
32

Prepayments and accrued income
140,242
109,286

435,549
587,095



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
122,203
23,650

122,203
23,650


Page 7

 
BELVEDERE ENERGY INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
4,437
1,857

Amounts owed to group undertakings
3,395,030
3,395,030

Accruals and deferred income
129,917
3,500

3,529,384
3,400,387


 
Page 8