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REGISTERED NUMBER: SC302163 (Scotland)















Belvoir Lettings (Moray) Ltd

Financial Statements For The Year Ended 31 May 2023






Belvoir Lettings (Moray) Ltd (Registered number: SC302163)






Contents of the Financial Statements
For The Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Belvoir Lettings (Moray) Ltd

Company Information
For The Year Ended 31 May 2023







DIRECTORS: Mr A Campbell
Mrs L Campbell



REGISTERED OFFICE: 22 Thunderton Place
Elgin
Moray
IV30 1JR



REGISTERED NUMBER: SC302163 (Scotland)



ACCOUNTANTS: Cathedral Accountancy
4 North Guildry Street
Elgin
Moray
IV30 1JR



BANKERS: The Royal Bank of Scotland
209 High Street
Elgin
Moray
IV30 1DL

Belvoir Lettings (Moray) Ltd (Registered number: SC302163)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 3,793 10,329
3,793 10,329

CURRENT ASSETS
Debtors 6 95,079 61,756
Cash at bank and in hand 417,323 166,690
512,402 228,446
CREDITORS
Amounts falling due within one year 7 394,650 142,211
NET CURRENT ASSETS 117,752 86,235
TOTAL ASSETS LESS CURRENT
LIABILITIES

121,545

96,564

CREDITORS
Amounts falling due after more than one
year

8

(29,185

)

(40,695

)

PROVISIONS FOR LIABILITIES 9 (490 ) (1,065 )
NET ASSETS 91,870 54,804

CAPITAL AND RESERVES
Called up share capital 10 120 120
Retained earnings 11 91,750 54,684
SHAREHOLDERS' FUNDS 91,870 54,804

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Belvoir Lettings (Moray) Ltd (Registered number: SC302163)

Balance Sheet - continued
31 May 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 February 2024 and were signed on its behalf by:





Mr A Campbell - Director


Belvoir Lettings (Moray) Ltd (Registered number: SC302163)

Notes to the Financial Statements
For The Year Ended 31 May 2023

1. STATUTORY INFORMATION

Belvoir Lettings (Moray) Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life of 4 years. Goodwill is now fully amortised.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 33% on cost and 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Belvoir Lettings (Moray) Ltd (Registered number: SC302163)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 85,000
AMORTISATION
At 1 June 2022
and 31 May 2023 85,000
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
Equipment fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2022 2,711 14,671 4,900 15,271 37,553
Disposals - - (4,900 ) (4,000 ) (8,900 )
At 31 May 2023 2,711 14,671 - 11,271 28,653
DEPRECIATION
At 1 June 2022 1,663 13,220 507 11,834 27,224
Charge for year 262 363 550 1,518 2,693
Eliminated on disposal - - (1,057 ) (4,000 ) (5,057 )
At 31 May 2023 1,925 13,583 - 9,352 24,860
NET BOOK VALUE
At 31 May 2023 786 1,088 - 1,919 3,793
At 31 May 2022 1,048 1,451 4,393 3,437 10,329

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 28,389 750
Other debtors 66,690 61,006
95,079 61,756

Belvoir Lettings (Moray) Ltd (Registered number: SC302163)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 10,001 10,000
Hire purchase contracts - 1,406
Trade creditors 342,348 104,184
Taxation and social security 31,523 18,672
Other creditors 10,778 7,949
394,650 142,211

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans 29,185 38,432
Hire purchase contracts - 2,263
29,185 40,695

9. PROVISIONS FOR LIABILITIES
31.5.23 31.5.22
£    £   
Deferred tax 490 1,065

Deferred
tax
£   
Balance at 1 June 2022 1,065
Provided during year (575 )
Balance at 31 May 2023 490

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
100 Ordinary 1 100 100
20 A Ordinary 1 20 20
120 120

Belvoir Lettings (Moray) Ltd (Registered number: SC302163)

Notes to the Financial Statements - continued
For The Year Ended 31 May 2023

11. RESERVES
Retained
earnings
£   

At 1 June 2022 54,684
Profit for the year 53,566
Dividends (16,500 )
At 31 May 2023 91,750

12. CAPITAL COMMITMENTS
31.5.23 31.5.22
£    £   
Contracted but not provided for in the
financial statements 190,137 205,766

13. RELATED PARTY DISCLOSURES

During the year, total dividends of £16,500 (2022 - £10,000) were paid to the directors .

At 31 May 2022 the company owed the directors £851. During the year the company met expenses on behalf of the director totalling £175. At 31 May 2023, the company owed the directors £1751. This loan is interest free and has no fixed repayment terms.

During the year the company paid rent to the directors totalling £15,629 (2022 - £15,629).

Guarantees
The company has given a guarantee for a loan of £150,000 on behalf of the directors.

At 31 May 2022 Inverness Asset Managers Ltd owed the company £56,519. During the year the company loaned £7,324 to Inverness Asset Managers Ltd, a company under common control. As at 31 May 2023 Inverness Asset Managers Ltd owed the company £63,843. This loan is interest free and has no fixed terms of repayment.