Registration number:
Bellvy Limited
for the Period from 21 February 2022 to 28 February 2023
Bellvy Limited
Contents
Company Information |
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Directors' Report |
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Accountants' Report |
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Profit and Loss Account |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
Bellvy Limited
Company Information
Directors |
A G Stent R Cox |
Registered office |
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Accountants |
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Bellvy Limited
Directors' Report for the Period from 21 February 2022 to 28 February 2023
The directors present their report and the financial statements for the period from 21 February 2022 to 28 February 2023.
Incorporation
The company was incorporated and commenced trading on
Directors of the company
The directors who held office during the period were as follows:
Principal activity
The principal activity of the company is property ownership and rental.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Bellvy Limited
for the Period Ended 28 February 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Bellvy Limited for the period ended 28 February 2023 as set out on pages 4 to 12 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Bellvy Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Bellvy Limited and state those matters that we have agreed to state to the Board of Directors of Bellvy Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bellvy Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Bellvy Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Bellvy Limited. You consider that Bellvy Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of Bellvy Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Sherborne
Dorset
DT9 3BA
Bellvy Limited
Profit and Loss Account for the Period from 21 February 2022 to 28 February 2023
Note |
2023 |
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Turnover |
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Gross profit |
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Administrative expenses |
( |
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Operating loss |
(75,488) |
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Gain on financial assets at fair value through profit and loss |
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Interest payable and similar expenses |
( |
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677,140 |
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Profit before tax |
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Tax on profit |
( |
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Profit for the financial period |
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The above results were derived from continuing operations.
The company has no recognised gains or losses for the period other than the results above.
Bellvy Limited
(Registration number: 13929960)
Balance Sheet as at 28 February 2023
Note |
2023 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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|
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Creditors: Amounts falling due within one year |
( |
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Net current liabilities |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
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Provisions for liabilities |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
2 |
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Other reserves |
526,598 |
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Retained earnings |
(102,661) |
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Shareholders' funds |
423,939 |
For the financial period ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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Bellvy Limited
Statement of Changes in Equity for the Period from 21 February 2022 to 28 February 2023
Share capital |
Non-distributable reserve |
Retained earnings |
Total |
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Profit for the period |
- |
- |
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New share capital subscribed |
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- |
- |
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Transfers |
- |
526,598 |
(526,598) |
- |
At 28 February 2023 |
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( |
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Bellvy Limited
Notes to the Unaudited Financial Statements for the Period from 21 February 2022 to 28 February 2023
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
The principal place of business is:
57 Church Road
Sparkford
Somerset
BA22 7JZ
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements are prepared in Sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable from rental income in the ordinary course of the company’s activities.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Bellvy Limited
Notes to the Unaudited Financial Statements for the Period from 21 February 2022 to 28 February 2023 (continued)
2 |
Accounting policies (continued) |
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures and fittings |
3 years on cost |
Investment property
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Bellvy Limited
Notes to the Unaudited Financial Statements for the Period from 21 February 2022 to 28 February 2023 (continued)
2 |
Accounting policies (continued) |
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Financial instruments
Classification
Basic financial instruments are defined as one of the following:
- cash
- a debt instrument (such as accounts receivable and payable)
- commitment to receive a loan that satisfy certain criteria
- investments in non-convertible preference shares, and non puttable ordinary shares.
All other financial instruments are classed as other financial instruments and treated accordingly.
Recognition and measurement
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Profit before tax |
Arrived at after charging/(crediting)
2023 |
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Depreciation expense |
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Bellvy Limited
Notes to the Unaudited Financial Statements for the Period from 21 February 2022 to 28 February 2023 (continued)
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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Additions |
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At 28 February 2023 |
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Depreciation |
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Charge for the period |
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At 28 February 2023 |
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Carrying amount |
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At 28 February 2023 |
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Investment properties |
2023 |
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Additions |
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Fair value adjustments |
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At 28 February |
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There has been no valuation of investment property by an independent valuer. The properties have been valued by the directors.
Debtors |
Current |
2023 |
Prepayments |
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Bellvy Limited
Notes to the Unaudited Financial Statements for the Period from 21 February 2022 to 28 February 2023 (continued)
Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Accruals and deferred income |
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Other creditors |
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Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £676,679
Creditors: amounts falling due after more than one year
Note |
2023 |
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Due after one year |
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Loans and borrowings |
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2023 |
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Due after more than five years |
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After more than five years not by instalments |
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Creditors include bank loans not repayable by instalments of £294,499.00 due after more than five years.
Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £676,679
Share capital |
Allotted, called up and fully paid shares
2023 |
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No. |
£ |
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2 |
Bellvy Limited
Notes to the Unaudited Financial Statements for the Period from 21 February 2022 to 28 February 2023 (continued)
Loans and borrowings |
2023 |
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Non-current loans and borrowings |
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Other borrowings |
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2023 |
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Current loans and borrowings |
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Other borrowings |
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Related party transactions |
Loans from related parties
2023 |
Other related parties |
Total |
Advanced |
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At end of period |
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Terms of loans from related parties