Company Registration No. 04355591 (England and Wales)
Bell Sport And Classic Ltd
Unaudited accounts
for the year ended 31 March 2023
Bell Sport And Classic Ltd
Unaudited accounts
Contents
Bell Sport And Classic Ltd
Company Information
for the year ended 31 March 2023
Directors
Matthew Barry Wilton
Timothy John Kearns
Company Number
04355591 (England and Wales)
Registered Office
Hillview Luton Road
Markyate
St. Albans
AL3 8QE
ENGLAND
Accountants
Trimantic Accountants
1 Victor House
Barnet Road
London Colney
AL2 1BJ
Bell Sport And Classic Ltd
Statement of financial position
as at 31 March 2023
Tangible assets
1,968,035
1,992,226
Inventories
3,033,222
3,835,390
Cash at bank and in hand
182,511
1,153,836
Creditors: amounts falling due within one year
(5,991,730)
(7,000,477)
Net current liabilities
(2,225,906)
(1,809,807)
Total assets less current liabilities
(257,871)
182,419
Creditors: amounts falling due after more than one year
(22,500)
(32,500)
Net (liabilities)/assets
(280,371)
149,919
Called up share capital
4,250,001
4,250,001
Profit and loss account
(4,530,372)
(4,100,082)
Shareholders' funds
(280,371)
149,919
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 14 December 2023 and were signed on its behalf by
Timothy John Kearns
Director
Company Registration No. 04355591
Bell Sport And Classic Ltd
Notes to the Accounts
for the year ended 31 March 2023
Bell Sport And Classic Ltd is a private company, limited by shares, registered in England and Wales, registration number 04355591. The registered office is Hillview Luton Road, Markyate, St. Albans, AL3 8QE, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Bell Sport And Classic Ltd
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 April 2022
2,292,672
255,437
81,922
146,524
49,357
2,825,912
Additions
26,345
23,296
85,394
8,393
3,494
146,922
Disposals
-
-
(43,399)
-
-
(43,399)
At 31 March 2023
2,319,017
278,733
123,917
154,917
52,851
2,929,435
At 1 April 2022
443,301
208,221
41,123
107,726
33,315
833,686
Charge for the year
95,070
15,009
24,007
12,827
8,459
155,372
On disposals
-
-
(27,658)
-
-
(27,658)
At 31 March 2023
538,371
223,230
37,472
120,553
41,774
961,400
At 31 March 2023
1,780,646
55,503
86,445
34,364
11,077
1,968,035
At 31 March 2022
1,849,371
47,216
40,799
38,798
16,042
1,992,226
Amounts falling due within one year
Trade debtors
431,657
152,981
Accrued income and prepayments
95,576
47,114
Other debtors
18,863
1,349
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,000
10,000
Trade creditors
195,674
479,499
Taxes and social security
29,680
23,596
Other creditors
46,312
15,723
Loans from directors
5,499,710
5,650,000
Deferred income
93,682
676,466
7
Creditors: amounts falling due after more than one year
2023
2022
Bell Sport And Classic Ltd
Notes to the Accounts
for the year ended 31 March 2023
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
4,250,000 Redeemable Preferance Shares of £1 each
4,250,000
4,250,000
9
Operating lease commitments
2023
2022
At 31 March 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
63,228
63,228
Later than one year and not later than five years
42,152
42,152
10
Transactions with related parties
During the year the company received loans from Michael Bedford, who was a director of the company throughout the year ended 31 March 2023, but resigned on 9 May 2023. The loans are non-interest bearing and repayable on demand. At the Balance Sheet date £5,499,710 (2022: £5,650,000) was outstanding.
11
Average number of employees
During the year the average number of employees was 20 (2022: 20).