Silverfin false 28/02/2023 01/03/2022 28/02/2023 A Schlosberg 23/02/2021 A L Thomas 23/02/2021 28 November 2023 The principal activity of Belmont Advisory Group Ltd ("the Company") is the provision of information technology consultancy and services. 13219793 2023-02-28 13219793 bus:Director1 2023-02-28 13219793 bus:Director2 2023-02-28 13219793 2022-02-28 13219793 core:CurrentFinancialInstruments 2023-02-28 13219793 core:CurrentFinancialInstruments 2022-02-28 13219793 core:ShareCapital 2023-02-28 13219793 core:ShareCapital 2022-02-28 13219793 core:RetainedEarningsAccumulatedLosses 2023-02-28 13219793 core:RetainedEarningsAccumulatedLosses 2022-02-28 13219793 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-02-28 13219793 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-28 13219793 core:OfficeEquipment 2022-02-28 13219793 core:OfficeEquipment 2023-02-28 13219793 bus:OrdinaryShareClass1 2023-02-28 13219793 2022-03-01 2023-02-28 13219793 bus:FullAccounts 2022-03-01 2023-02-28 13219793 bus:SmallEntities 2022-03-01 2023-02-28 13219793 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 13219793 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 13219793 bus:Director1 2022-03-01 2023-02-28 13219793 bus:Director2 2022-03-01 2023-02-28 13219793 core:OfficeEquipment 2022-03-01 2023-02-28 13219793 2021-03-01 2022-02-28 13219793 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-03-01 2023-02-28 13219793 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 13219793 bus:OrdinaryShareClass1 2021-03-01 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13219793 (England and Wales)

BELMONT ADVISORY GROUP LTD

Unaudited Financial Statements
For the financial year ended 28 February 2023
Pages for filing with the registrar

BELMONT ADVISORY GROUP LTD

Unaudited Financial Statements

For the financial year ended 28 February 2023

Contents

BELMONT ADVISORY GROUP LTD

STATEMENT OF FINANCIAL POSITION

As at 28 February 2023
BELMONT ADVISORY GROUP LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 28 February 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 0 140,339
Tangible assets 4 3,290 4,113
3,290 144,452
Current assets
Debtors 5 7,871 5,631
Cash at bank and in hand 3,212 170,373
11,083 176,004
Creditors: amounts falling due within one year 6 ( 3,660) ( 8,383)
Net current assets 7,423 167,621
Total assets less current liabilities 10,713 312,073
Net assets 10,713 312,073
Capital and reserves
Called-up share capital 7 2 2
Profit and loss account 10,711 312,071
Total shareholder's funds 10,713 312,073

For the financial year 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:

The financial statements of Belmont Advisory Group Ltd (registered number: 13219793) were approved and authorised for issue by the Director. They were signed on its behalf by:

A Schlosberg
Director

28 November 2023

BELMONT ADVISORY GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2023
BELMONT ADVISORY GROUP LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Belmont Advisory Group Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs not amortised
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and 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 and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Intangible assets

Development costs Total
£ £
Cost
At 01 March 2022 140,339 140,339
Additions 501 501
Disposals ( 140,840) ( 140,840)
At 28 February 2023 0 0
Accumulated amortisation
At 01 March 2022 0 0
At 28 February 2023 0 0
Net book value
At 28 February 2023 0 0
At 28 February 2022 140,339 140,339

4. Tangible assets

Office equipment Total
£ £
Cost
At 01 March 2022 5,141 5,141
At 28 February 2023 5,141 5,141
Accumulated depreciation
At 01 March 2022 1,028 1,028
Charge for the financial year 823 823
At 28 February 2023 1,851 1,851
Net book value
At 28 February 2023 3,290 3,290
At 28 February 2022 4,113 4,113

5. Debtors

2023 2022
£ £
Amounts owed by Group undertakings 7,871 600
Other debtors 0 5,031
7,871 5,631

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 660 0
Accruals 3,000 6,600
Taxation and social security 0 1,783
3,660 8,383

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2