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REGISTERED NUMBER: 12610715 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2022

for

Bellco LX Holdings Ltd

Bellco LX Holdings Ltd (Registered number: 12610715)






Contents of the Financial Statements
for the Year Ended 30 September 2022




Page

Balance Sheet 1

Notes to the Financial Statements 3


Bellco LX Holdings Ltd (Registered number: 12610715)

Balance Sheet
30 September 2022

2022 2021
Notes £    £    £    £   
Fixed assets
Investments 4 101 100
Investment property 5 5,100,000 3,221,746
5,100,101 3,221,846

Current assets
Debtors 6 537,659 50
Cash at bank 12,468 3,951
550,127 4,001
Creditors
Amounts falling due within one year 7 174,425 810,252
Net current assets/(liabilities) 375,702 (806,251 )
Total assets less current liabilities 5,475,803 2,415,595

Creditors
Amounts falling due after more than one
year

8

3,693,308

2,410,517
Net assets 1,782,495 5,078

Capital and reserves
Called up share capital 10 100 100
Fair value reserve 11 178,254 -
Retained earnings 1,604,141 4,978
Shareholders' funds 1,782,495 5,078

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Bellco LX Holdings Ltd (Registered number: 12610715)

Balance Sheet - continued
30 September 2022


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 October 2023 and were signed on its behalf by:




L Bates - Director



X Pennington - Director


Bellco LX Holdings Ltd (Registered number: 12610715)

Notes to the Financial Statements
for the Year Ended 30 September 2022

1. Statutory information

Bellco LX Holdings Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12610715

Registered office: 85 Church Road
Hove
BN3 2BB

The presentation currency of the financial statements is in Pound Sterling (£) and rounding is to the nearest (£).

The period covered by the financial statements is 499 days therefore comparatives are not entirely comparable. The reason for extending the year end is to bring it in line with other companies in the group.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Rents received are shown gross of commissions and fees.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued at its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.


Bellco LX Holdings Ltd (Registered number: 12610715)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2022

2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. Employees and directors

The average number of employees during the year was NIL (2021 - NIL).

4. Fixed asset investments
Shares in
group
undertakings
£   
Cost
At 1 October 2021 100
Additions 1
At 30 September 2022 101
Net book value
At 30 September 2022 101
At 30 September 2021 100

Bellco LX Holdings Ltd (Registered number: 12610715)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2022

5. Investment property
Total
£   
Fair value
At 1 October 2021 3,221,746
Additions 1,700,000
Revaluations 178,254
At 30 September 2022 5,100,000
Net book value
At 30 September 2022 5,100,000
At 30 September 2021 3,221,746

The investment property fair value of £5,100,000 (2021 - £3,221,746) was determined by the directors based on the market value of similar properties in the area.

6. Debtors: amounts falling due within one year
2022 2021
£    £   
Trade debtors 2,287 -
Amounts owed by group undertakings 533,872 50
Other debtors 1,500 -
537,659 50

7. Creditors: amounts falling due within one year
2022 2021
£    £   
Trade creditors 600 -
Amounts owed to group undertakings 151,882 771,720
Taxation and social security 5,851 1,168
Other creditors 16,092 37,364
174,425 810,252

8. Creditors: amounts falling due after more than one year
2022 2021
£    £   
Bank loans 3,693,308 2,410,517

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 3,693,308 2,410,517

Bellco LX Holdings Ltd (Registered number: 12610715)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2022

9. Secured debts

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 3,693,308 2,410,517

Bank loans are secured against the properties to which they relate.

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary £1 100 100

11. Reserves
Fair
value
reserve
£   
Transfer 178,254

At 30 September 2022 178,254

12. Related party disclosures

Within creditors are amounts owed to both 50% parent companies of £nil (2021 - £52).

Within debtors are amounts owed by both 50% parent companies of £14,998 (2021 - £50).