Registered number
12359962
BELSIZE STATION LTD
Filleted Accounts
For the period from 01 December 2022 to
31 March 2023
BELSIZE STATION LTD
Registered number: 12359962
Balance Sheet
as at 31 March 2023
Notes 2023 2021
£ £
Fixed assets
Tangible assets 3 19,986 22,337
Current assets
Stocks 250,610 235,543
Debtors 4 9,370 53,959
Cash at bank and in hand 242,674 132,396
502,654 421,898
Creditors: amounts falling due within one year 5 (240,447) (66,395)
Net current assets 262,207 355,503
Total assets less current liabilities 282,193 377,840
Creditors: amounts falling due after more than one year 6 - (387,754)
Net assets/(liabilities) 282,193 (9,914)
Capital and reserves
Called up share capital 100 100
Profit and loss account 282,093 (10,014)
Shareholder's funds 282,193 (9,914)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Nerali Kirit PATEL
Director
Approved by the board on 15 June 2023
BELSIZE STATION LTD
Notes to the Accounts
for the period from 1 January 2022 to 31 March 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2021
Number Number
Average number of persons employed by the company 8 8
3 Tangible fixed assets
Furniture, Fixture and Fittings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2022 15,049 91,274 200,200 306,523
Additions 14,987 - - 14,987
At 31 March 2023 30,036 91,274 200,200 321,510
Depreciation
At 1 January 2022 7,046 84,550 192,590 284,186
Charge for the period 3,004 6,724 7,610 17,338
At 31 March 2023 10,050 91,274 200,200 301,524
Net book value
At 31 March 2023 19,986 - - 19,986
At 31 December 2021 8,003 6,724 7,610 22,337
4 Debtors 2023 2021
£ £
Trade debtors 5,650 157
Other debtors 3,720 53,802
9,370 53,959
5 Creditors: amounts falling due within one year 2023 2021
£ £
Bank loans and overdrafts - 3,377
Trade creditors 82,936 57,398
Taxation and social security costs 82,887 5,620
Proposed dividend 11,362 -
Director loan account 63,262 -
240,447 66,395
6 Creditors: amounts falling due after one year 2023 2021
£ £
Other creditors - 387,754
7 Controlling party
The ultimate controlling party was Nerali Kirit Patel duing the period ended 31 March 2023.
8 Other information
BELSIZE STATION LTD is a private company limited by shares and incorporated in England. Its registered office is:
215 Haverstock Hill
Hampstead
London
NW3 4QE
9 Proposed Dividend
Other Creditors within one year include the proposed dividend amount of £11,362 payable to the shareholder.
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