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REGISTERED NUMBER: 07763995 (England and Wales)














Strategic Report, Report of the Director and

Financial Statements

for the Year Ended 31 December 2022

for

Bellview Products Limited

Bellview Products Limited (Registered number: 07763995)

Contents of the Financial Statements
for the Year Ended 31 December 2022










Page

Company information 1

Strategic report 2

Report of the director 3 to 4

Report of the independent auditors 5 to 9

Income statement 10

Statement of financial position 11

Statement of changes in equity 12

Statement of cash flows 13

Notes to the statement of cash flows 14 to 15

Notes to the financial statements 16 to 22


Bellview Products Limited

Company Information
for the Year Ended 31 December 2022







Director: R J Morley





Registered office: Unit 3, Station Bridge
Broadway, Yaxley
Peterborough
Cambridgeshire
PE7 3EL





Registered number: 07763995 (England and Wales)





Auditors: Moore Thompson
7 Swan Court
Forder Way, Cygnet Park
Hampton
Peterborough
Cambs
PE7 8GX

Bellview Products Limited (Registered number: 07763995)

Strategic Report
for the Year Ended 31 December 2022


The director presents the strategic report for the year ended 31st December 2022

Fair review of the business
Bellview Products Limited is a leading trade manufacturer and supplier of Aluminium and UPVC Window and Door Systems throughout the UK. Throughout the year, our focus remained on serving the trade market with our high-quality products.

The company continued to deliver strong year on year growth with turnover increasing by 22% to £14.5m (2021:£11.9m). Net profit before tax increased by £364k to £1.1m (2021:£741k). Net assets have increased by £576k to £1.56m.

In order to deliver this growth, the company has continued its expansion of factory space as well as investing in machinery and technology to maintain or enhance operational efficiencies and allow for further advance in demand.

Principle risks and uncertainties
The Coronavirus pandemic, whilst creating its difficulties throughout the industry, was navigated through in such a way that the business sustained periods of strong growth. Unlike some competitors, the company remained open for business and overcame supply issues. The investment in our people, the working conditions and our great culture meant we were able to successfully come through this period with forward momentum.

Development and performance
Further planned investment in the expansion of our premises and machinery will enable us to absorb significant additional growth.

The introduction of a Financial Director into the business during 2023 has enabled the company to enhance reporting capabilities, implement further policy and procedure and provide financial leadership to align business and finance strategy.

To further strengthen our market position, we continually monitor, analyse and identify opportunities for growth. By leveraging our strong reputation for delivering reliable and durable windows and doors, we expect continued advances in market share.

In conclusion, Bellview Products Limited had a successful year, marked by increased sales, improved operational efficiency, and strategic market expansion. We remain committed to delivering exceptional products and services to our valued trade customers. With a strong foundation and a clear vision for the future, we are confident in our ability to continue growing and maintaining our position as a trusted leader in the Window and Door Fabrication industry.

On behalf of the board:





R J Morley - Director


9 November 2023

Bellview Products Limited (Registered number: 07763995)

Report of the Director
for the Year Ended 31 December 2022


The director presents his report with the financial statements of the company for the year ended 31 December 2022.

Principal activity
The principal activity of the company in the year under review was that of UPVC and aluminium window and door manufacturing.

Dividends
An interim dividend of £24,000 per share was paid on 31 December 2022. The director recommends that no final dividend be paid.

The total distribution of dividends for the year ended 31 December 2022 will be £ 48,000 .

Director
R J Morley held office during the whole of the period from 1 January 2022 to the date of this report.

Statement of director's responsibilities
The director is responsible for preparing the Strategic report, the Report of the director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure of information to auditors
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Bellview Products Limited (Registered number: 07763995)

Report of the Director
for the Year Ended 31 December 2022


Auditors
The auditors, Moore Thompson, will be proposed for re-appointment at the forthcoming Annual General Meeting.

On behalf of the board:



R J Morley - Director


9 November 2023

Report of the Independent Auditors to the Members of
Bellview Products Limited


Qualified Opinion
We have audited the financial statements of Bellview Products Limited (the 'company') for the year ended 31 December 2022 which comprise the Income statement, Other comprehensive income, Statement of financial position, Statement of changes in equity, Statement of cash flows and Notes to the statement of cash flows, Notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion, except for the possible effects of the matter described in the basis for qualified opinion section of our report, the financial statements:
• give a true and fair view of the state of the company’s affairs as at 31 December 2022 and of the company’s profit for the year then ended;
• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for qualified opinion
We were not appointed as auditor of the company until after 31 December 2022 and thus did not observe the counting of physical inventories at the end of the year. We were unable to satisfy ourselves by alternative means concerning the stock and work in progress quantities and valuations held at 31 December 2022 and 31 December 2021, which are included in the balance sheet at £817,292 and £748,879 respectively, by using other audit procedures.

Additionally, due to a lack of historical data with regard to the Deposits received in advance we were unable to satisfy ourselves by alternative means concerning the completeness of these at 31 December 2022 and 31 December 2021, which are included in the balance sheet at £504,563 and £645,485 respectively, by other audit procedures.

Consequently we were unable to determine whether any adjustment to these amounts were necessary. In addition, were any adjustment to the inventory or creditors balance to be required, the strategic report would also need to be amended.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Key audit matters
Except for the matter described in the basis for qualified opinion section, we have determined that there are no key audit matters to be communicated in our report.

Report of the Independent Auditors to the Members of
Bellview Products Limited


Other information
The director is responsible for the other information. The other information comprises the information in the Strategic report and the Report of the director, but does not include the financial statements and our Report of the auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

As described in the basis for qualified opinion section of our report, we were unable to satisfy ourselves concerning the inventory quantities and valuations of £817,292 and £748,879 held at 31 December 2022 and 31 December 2021 respectively and due to a lack of historical data with regard to the deposits received in advance we were unable to satisfy ourselves by alternative means concerning the completeness of these at 31 December 2022 and 31 December 2021, which are included in the balance sheet at £504,563 and £645,485 respectively.

We have therefore concluded that where the other information refers to the net assets or related balances such as net profit, it may be materially misstated for the same reason.

Opinions on other matters prescribed by the Companies Act 2006
Except for the possible effects of the matter described in the basis for qualified opinion section of our report, in our opinion, based on the work undertaken in the course of the audit:
• the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
• the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Report of the director.

Except for the matter described in the basis for qualified opinion section of our report, in the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report.

Arising solely from the limitation on the scope of our work relating to inventory and deposits received in advance, as referred to previously in the basis of qualified opinion, we were not appointed as auditors of the company until after 31 December 2022 and as such we were unable to obtain all the information and explanations that we considered necessary for the purpose of satisfying the associated audit assertions and as such we were unable retrospectively to determine whether adequate accounting records have been kept.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made.

Report of the Independent Auditors to the Members of
Bellview Products Limited


Responsibilities of director
As explained more fully in the Statement of director's responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Bellview Products Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector;

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including such as the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation;

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and

- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and

- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;

- tested journal entries to identify unusual transactions;

- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

- investigated the rationale behind significant or unusual transactions;

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;

- reading the minutes of meetings of those charged with governance;

- enquiring of management as to actual and potential litigation and claims;

- reviewing correspondence with HMRC, relevant regulators and the company's legal advisors.

Report of the Independent Auditors to the Members of
Bellview Products Limited


There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




M A East FCCA (Senior Statutory Auditor)
for and on behalf of Moore Thompson
7 Swan Court
Forder Way, Cygnet Park
Hampton
Peterborough
Cambs
PE7 8GX

9 November 2023

Bellview Products Limited (Registered number: 07763995)

Income Statement
for the Year Ended 31 December 2022

2022 2021
Notes £    £   

Turnover 14,485,395 11,855,702

Cost of sales 12,054,874 9,999,738
Gross profit 2,430,521 1,855,964

Administrative expenses 1,307,801 1,103,555
Operating profit 5 1,122,720 752,409

Interest receivable and similar income 1,544 49
1,124,264 752,458

Interest payable and similar expenses 6 19,351 11,524
Profit before taxation 1,104,913 740,934

Tax on profit 7 480,901 13,597
Profit for the financial year 624,012 727,337

Bellview Products Limited (Registered number: 07763995)

Statement of Financial Position
31 December 2022

2022 2021
Notes £    £    £    £   
Fixed assets
Tangible assets 9 3,031,536 1,180,360

Current assets
Stocks and work in progress 10 817,292 748,879
Debtors 11 721,740 641,210
Cash at bank and in hand 692,506 964,385
2,231,538 2,354,474
Creditors
Amounts falling due within one year 12 3,122,131 2,400,820
Net current liabilities (890,593 ) (46,346 )
Total assets less current liabilities 2,140,943 1,134,014

Creditors
Amounts falling due after more than one
year

13

(195,396

)

(147,713

)

Provisions for liabilities 17 (383,234 ) -
Net assets 1,562,313 986,301

Capital and reserves
Called up share capital 18 2 2
Retained earnings 19 1,562,311 986,299
Shareholders' funds 1,562,313 986,301

The financial statements were approved by the director and authorised for issue on 9 November 2023 and were signed by:





R J Morley - Director


Bellview Products Limited (Registered number: 07763995)

Statement of Changes in Equity
for the Year Ended 31 December 2022

Called up
share Retained Total
capital earnings equity
£    £    £   

Balance at 1 January 2021 2 316,962 316,964

Changes in equity
Dividends - (58,000 ) (58,000 )
Total comprehensive income - 727,337 727,337
Balance at 31 December 2021 2 986,299 986,301

Changes in equity
Dividends - (48,000 ) (48,000 )
Total comprehensive income - 624,012 624,012
Balance at 31 December 2022 2 1,562,311 1,562,313

Bellview Products Limited (Registered number: 07763995)

Statement of Cash Flows
for the Year Ended 31 December 2022

2022 2021
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,836,508 858,695
Interest paid (19,351 ) (11,524 )
Tax paid - (9,773 )
Net cash from operating activities 1,817,157 837,398

Cash flows from investing activities
Purchase of tangible fixed assets (1,983,257 ) (610,158 )
Interest received 1,544 49
Net cash from investing activities (1,981,713 ) (610,109 )

Cash flows from financing activities
New loans in year 120,959 288,000
Loan repayments in year (160,320 ) -
Capital repayments in year (44,151 ) (20,416 )
Amount introduced by directors 71,000 -
Amount withdrawn by directors (46,811 ) (15,995 )
Equity dividends paid (48,000 ) (58,000 )
Net cash from financing activities (107,323 ) 193,589

(Decrease)/increase in cash and cash equivalents (271,879 ) 420,878
Cash and cash equivalents at beginning
of year

2

964,385

543,507

Cash and cash equivalents at end of year 2 692,506 964,385

Bellview Products Limited (Registered number: 07763995)

Notes to the Statement of Cash Flows
for the Year Ended 31 December 2022


1. Reconciliation of profit before taxation to cash generated from operations
2022 2021
£    £   
Profit before taxation 1,104,913 740,934
Depreciation charges 247,932 108,000
Finance costs 19,351 11,524
Finance income (1,544 ) (49 )
1,370,652 860,409
Increase in stocks and work in progress (68,413 ) (470,000 )
Increase in trade and other debtors (80,530 ) (174,065 )
Increase in trade and other creditors 614,799 642,351
Cash generated from operations 1,836,508 858,695

2. Cash and cash equivalents

The amounts disclosed on the Statement of cash flows in respect of cash and cash equivalents are in respect of these Statement of financial position amounts:

Year ended 31 December 2022
31.12.22 1.1.22
£    £   
Cash and cash equivalents 692,506 964,385
Year ended 31 December 2021
31.12.21 1.1.21
£    £   
Cash and cash equivalents 964,385 543,507


Bellview Products Limited (Registered number: 07763995)

Notes to the Statement of Cash Flows
for the Year Ended 31 December 2022


3. Analysis of changes in net funds/(debt)

Other
non-cash
At 1.1.22 Cash flow changes At 31.12.22
£    £    £    £   
Net cash
Cash at bank
and in hand 964,385 (271,879 ) 692,506
964,385 (271,879 ) 692,506
Debt
Finance leases (146,386 ) 44,151 (140,000 ) (242,235 )
Debts falling due
within 1 year (297,600 ) 39,200 - (258,400 )
Debts falling due
after 1 year (34,772 ) 9,922 - (24,850 )
(478,758 ) 93,273 (140,000 ) (525,485 )
Total 485,627 (178,606 ) (140,000 ) 167,021

Bellview Products Limited (Registered number: 07763995)

Notes to the Financial Statements
for the Year Ended 31 December 2022


1. Statutory information

Bellview Products Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

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" and the Companies Act 2006.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods.

Estimation of useful life
The useful economic life used to depreciate tangible fixed assets relates to the expected future performance of the assets acquired and management's estimate of the period over which economic benefit will be derived from the asset.

Estimation of residual value
The residual value of an asset is the estimated fair value of that asset at the end of its useful economic life and therefore is also dependent upon the estimation of that life span.
Historically, changes to the useful economic life and residual values have not had a material impact on the amortisation or depreciation amount charged to the profit and loss.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Not depreciated / 50 years straight line
Plant and machinery - 15% on a straight line basis

Stocks and work in progress
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Bellview Products Limited (Registered number: 07763995)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022


3. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. Employees and directors
2022 2021
£    £   
Wages and salaries 3,286,629 2,778,651
Social security costs 307,281 238,095
Other pension costs 54,680 35,987
3,648,590 3,052,733

The average number of employees during the year was as follows:
2022 2021

Management 2 2
Admin 16 14
Production 75 56
93 72

2022 2021
£    £   
Director's remuneration 27,124 19,525

Bellview Products Limited (Registered number: 07763995)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022


5. Operating profit

The operating profit is stated after charging:

2022 2021
£    £   
Depreciation - owned assets 247,932 108,000

6. Interest payable and similar expenses
2022 2021
£    £   
Interest payable 19,351 11,524

7. Taxation

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2022 2021
£    £   
Current tax:
UK corporation tax 97,667 13,597

Deferred tax 383,234 -
Tax on profit 480,901 13,597

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2022 2021
£    £   
Profit before tax 1,104,913 740,934
Profit multiplied by the standard rate of corporation tax in the UK of 19%
(2021 - 19%)

209,933

140,777

Effects of:
Enhanced capital allowances (23,273 ) -
Underprovision of tax liability from prior years 294,241 (127,180 )
Total tax charge 480,901 13,597

8. Dividends
2022 2021
£    £   
Ordinary shares of £1.00 each
Interim 48,000 58,000

Bellview Products Limited (Registered number: 07763995)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022


9. Tangible fixed assets
Freehold Plant and
property machinery Totals
£    £    £   
Cost
At 1 January 2022 - 1,586,075 1,586,075
Additions 1,498,600 624,657 2,123,257
Disposals - (24,149 ) (24,149 )
At 31 December 2022 1,498,600 2,186,583 3,685,183
Depreciation
At 1 January 2022 - 405,715 405,715
Charge for year - 247,932 247,932
At 31 December 2022 - 653,647 653,647
Net book value
At 31 December 2022 1,498,600 1,532,936 3,031,536
At 31 December 2021 - 1,180,360 1,180,360

10. Stocks and work in progress
2022 2021
£    £   
Stocks and work in progress 817,292 748,879

11. Debtors: amounts falling due within one year
2022 2021
£    £   
Trade debtors 615,498 518,982
Prepayments 106,242 122,228
721,740 641,210

Bellview Products Limited (Registered number: 07763995)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022


12. Creditors: amounts falling due within one year
2022 2021
£    £   
Bank loans and overdrafts (see note 14) 9,761 9,600
Other loans (see note 14) 248,639 288,000
Hire purchase contracts (see note 15) 71,689 33,445
Trade creditors 1,878,195 943,429
Tax 111,264 13,597
Social security and other taxes 85,628 65,366
VAT 84,008 319,274
Pension fund 6,775 3,173
Credit card 18,844 -
Director's current account 99,640 75,451
Accruals and deferred income 3,125 4,000
Deposits received in advance 504,563 645,485
3,122,131 2,400,820

13. Creditors: amounts falling due after more than one year
2022 2021
£    £   
Bank loans (see note 14) 24,850 34,772
Hire purchase contracts (see note 15) 170,546 112,941
195,396 147,713

14. Loans

An analysis of the maturity of loans is given below:

2022 2021
£    £   
Amounts falling due within one year or on demand:
Bank loans 9,761 9,600
Other loans 248,639 288,000
258,400 297,600

Amounts falling due between two and five years:
Bank loans - 2-5 years 24,850 34,772

Bellview Products Limited (Registered number: 07763995)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022


15. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
2022 2021
£    £   
Net obligations repayable:
Within one year 71,689 33,445
Between one and five years 170,546 112,941
242,235 146,386

Non-cancellable operating leases
2022 2021
£    £   
Within one year 68,751 41,000
Between one and five years 199,233 164,000
In more than five years 13,500 37,250
281,484 242,250

16. Secured debts

The following secured debts are included within creditors:

2022 2021
£    £   
Hire purchase contracts 242,235 146,386

17. Provisions for liabilities
2022 2021
£    £   
Deferred tax
Accelerated capital allowances 383,234 -

Deferred
tax
£   
Charge to Income statement during year 383,234
Balance at 31 December 2022 383,234

Bellview Products Limited (Registered number: 07763995)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022


18. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
2 Ordinary £1.00 2 2

19. Reserves
Retained
earnings
£   

At 1 January 2022 986,299
Profit for the year 624,012
Dividends (48,000 )
At 31 December 2022 1,562,311

20. Capital commitments
2022 2021
£    £   
Contracted but not provided for in the
financial statements 413,100 -