Bezaleel Limited NI609143 false 2022-02-26 2023-02-25 2023-02-25 The principal activity of the company is continuing to be that of management, buying and selling of real estate. Digita Accounts Production Advanced 6.30.9574.0 true NI609143 2022-02-26 2023-02-25 NI609143 2023-02-25 NI609143 bus:Director1 1 2023-02-25 NI609143 bus:OrdinaryShareClass1 2023-02-25 NI609143 bus:Revised 2023-02-25 NI609143 core:CurrentFinancialInstruments 2023-02-25 NI609143 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-25 NI609143 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-25 NI609143 bus:SmallEntities 2022-02-26 2023-02-25 NI609143 bus:AuditExemptWithAccountantsReport 2022-02-26 2023-02-25 NI609143 bus:FullAccounts 2022-02-26 2023-02-25 NI609143 bus:SmallCompaniesRegimeForAccounts 2022-02-26 2023-02-25 NI609143 bus:RegisteredOffice 2022-02-26 2023-02-25 NI609143 bus:Director1 2022-02-26 2023-02-25 NI609143 bus:Director1 1 2022-02-26 2023-02-25 NI609143 bus:Director3 2022-02-26 2023-02-25 NI609143 bus:OrdinaryShareClass1 2022-02-26 2023-02-25 NI609143 bus:PrivateLimitedCompanyLtd 2022-02-26 2023-02-25 NI609143 countries:NorthernIreland 2022-02-26 2023-02-25 NI609143 bus:Director1 1 2022-02-25 NI609143 2021-02-26 2022-02-25 NI609143 2022-02-25 NI609143 bus:OrdinaryShareClass1 2022-02-25 NI609143 core:CurrentFinancialInstruments 2022-02-25 NI609143 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-25 NI609143 core:Non-currentFinancialInstruments core:AfterOneYear 2022-02-25 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI609143

Bezaleel Limited

Unaudited Filleted Financial Statements

for the Year Ended 25 February 2023

 

Bezaleel Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Bezaleel Limited

(Registration number: NI609143)
Balance Sheet as at 25 February 2023

Note

2023
£

2022
£

Current assets

 

Stocks

4

77,738

69,096

Debtors

5

2,520

29,713

Cash at bank and in hand

 

655

227

 

80,913

99,036

Creditors: Amounts falling due within one year

6

(81,971)

(88,398)

Total assets less current liabilities

 

(1,058)

10,638

Creditors: Amounts falling due after more than one year

6

(39,050)

(38,324)

Net liabilities

 

(40,108)

(27,686)

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

(40,110)

(27,688)

Shareholders' deficit

 

(40,108)

(27,686)

For the financial year ending 25 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 November 2023
 

.........................................
Ken Cleland
Director

 

Bezaleel Limited

Notes to the Unaudited Financial Statements for the Year Ended 25 February 2023

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
6C Lisburn Street
Hillsborough
Co. Down
County Down
BT26 6AB
Northern Ireland

2

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.

The presentation currency is £ Sterling.

Going concern

The company's balance sheet position as at 25 February 2023 shows net liabilities of £40,108 (2022: £27,686) and the company is dependant on support from its directors, in order to continue to pay its liabilities as they fall due. The directors have undertaken to provide such financial support as may be necessary for a period of at least one year from the date of signing of the financial statements.
The directors have reviewed the applicability of the going concern principle and have determined that it is appropriate to prepare the company's accounts on the basis that it will continue as a going concern for the foreseeable future.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

 

Bezaleel Limited

Notes to the Unaudited Financial Statements for the Year Ended 25 February 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Creditors

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.

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.

Financial instruments

Classification
The company 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 non-puttable ordinary shares.
 

 

Bezaleel Limited

Notes to the Unaudited Financial Statements for the Year Ended 25 February 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

4

Stocks

2023
£

2022
£

Work in progress

77,738

69,096

5

Debtors

2023
£

2022
£

VAT

-

526

Other debtors

2,520

29,187

2,520

29,713

 

Bezaleel Limited

Notes to the Unaudited Financial Statements for the Year Ended 25 February 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Loans and borrowings

9,912

9,606

Accruals and deferred income

17,221

16,231

Other creditors

54,838

61,900

Directors' Loan Account

-

661

81,971

88,398

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Loans and borrowings

39,050

38,324

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         
 

Bezaleel Limited

Notes to the Unaudited Financial Statements for the Year Ended 25 February 2023

8

Related party transactions

Transactions with the director

2023

At 26 February 2022
£

Advances to director
£

At 25 February 2023
£

Peter Cleland

(661)

661

-

       
     

 

The above loan is unsecured, interest free and repayable on demand.

Other Related Party Transactions

Ebenezer Properties N.I. Ltd, a company which had a common director, is owed £3,846 by the company (2022: -£5,844).

Grace Communications N.I. Ltd, a company which had common directors, owed the company £NIL (2022: £20,823).

Trinity Investments (N.I.) Ltd, a company which had common directors, is owed by the company £NIL (2022: £11,900).

Step 2 Developments Ltd, a company which had common directors, is owed £50,000 by the company (2022: £50,000).