Company registration number 11283591 (England and Wales)
BELLS PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
BELLS PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
BELLS PROPERTIES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
3
-
0
258,750
Current assets
Cash at bank and in hand
-
0
1,014
Creditors: amounts falling due within one year
4
(6,928)
(84,555)
Net current liabilities
(6,928)
(83,541)
Total assets less current liabilities
(6,928)
175,209
Creditors: amounts falling due after more than one year
5
-
0
(170,418)
Net (liabilities)/assets
(6,928)
4,791
Capital and reserves
Called up share capital
1
1
Revaluation reserve
6
-
0
25,000
Profit and loss reserves
(6,929)
(20,210)
Total equity
(6,928)
4,791

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 13 February 2024
Ms J M Bell
Director
Company Registration No. 11283591
BELLS PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information

Bells Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 10A High Street, Chislehurst, United Kingdom, BR7 5AN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The 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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
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.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
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 current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with 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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

BELLS PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
3
Investment property
2023
£
Fair value
At 1 April 2022
258,750
Disposals
(258,750)
At 31 March 2023
-
0

The fair value of the investment properties has been arrived at on the basis of a valuation carried out at 31 March 2021 by Ralph Spours Chartered Surveyors, who are not connected with the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

4
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
6,928
84,555
BELLS PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
5
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
-
0
170,418
6
Revaluation reserve
2023
2022
£
£
At the beginning of the year
25,000
25,000
Other movements
(25,000)
-
At the end of the year
-
0
25,000
2023-03-312022-04-01false13 February 2024CCH SoftwareCCH Accounts Production 2023.100No description of principal activityMs Joanne Marie Bell112835912022-04-012023-03-31112835912023-03-31112835912022-03-3111283591core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3111283591core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3111283591core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3111283591core:Non-currentFinancialInstrumentscore:AfterOneYear2022-03-3111283591core:ShareCapital2023-03-3111283591core:ShareCapital2022-03-3111283591core:RevaluationReserve2023-03-3111283591core:RevaluationReserve2022-03-3111283591core:RetainedEarningsAccumulatedLosses2023-03-3111283591core:RetainedEarningsAccumulatedLosses2022-03-3111283591core:RevaluationReserve2022-03-3111283591core:RevaluationReserve2021-03-3111283591bus:Director12022-04-012023-03-31112835912021-04-012022-03-31112835912022-03-3111283591core:CurrentFinancialInstruments2023-03-3111283591core:CurrentFinancialInstruments2022-03-3111283591core:Non-currentFinancialInstruments2023-03-3111283591core:Non-currentFinancialInstruments2022-03-3111283591bus:PrivateLimitedCompanyLtd2022-04-012023-03-3111283591bus:SmallCompaniesRegimeForAccounts2022-04-012023-03-3111283591bus:FRS1022022-04-012023-03-3111283591bus:AuditExemptWithAccountantsReport2022-04-012023-03-3111283591bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP