Registered number
10818952
Bellfred Limited
Unaudited Filleted Accounts
31 October 2023
Bellfred Limited
Registered number: 10818952
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 7,200 9,000
Tangible assets 4 9,600 8,000
16,800 17,000
Current assets
Debtors 5 97,994 79,468
Cash at bank and in hand 17,338 18,440
115,332 97,908
Creditors: amounts falling due within one year 6 (54,551) (64,276)
Net current assets 60,781 33,632
Total assets less current liabilities 77,581 50,632
Creditors: amounts falling due after more than one year 7 (5,655) (7,600)
Net assets 71,926 43,032
Capital and reserves
Called up share capital 3 2
Profit and loss account 71,923 43,030
Shareholders' funds 71,926 43,032
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
David Bellis
Director
Approved by the board on 22 February 2024
Bellfred Limited
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures & equipment over 5 years
Motor vehicles over 5 years
Debtors
Short term debtors are measured at transaction price (usually the invoice price), less any impairment losses for doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for doubtful debts.
Creditors
Short term creditors are measured at transaction price (usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 46 34
3 Intangible fixed assets £
Goodwill:
Cost
At 1 November 2022 18,000
At 31 October 2023 18,000
Amortisation
At 1 November 2022 9,000
Provided during the year 1,800
At 31 October 2023 10,800
Net book value
At 31 October 2023 7,200
At 31 October 2022 9,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Fixtures & equipment Motor vehicles Total
£ £ £
Cost
At 1 November 2022 11,400 - 11,400
Additions 2,710 800 3,510
At 31 October 2023 14,110 800 14,910
Depreciation
At 1 November 2022 3,400 - 3,400
Charge for the year 1,710 200 1,910
At 31 October 2023 5,110 200 5,310
Net book value
At 31 October 2023 9,000 600 9,600
At 31 October 2022 8,000 - 8,000
5 Debtors 2023 2022
£ £
Trade debtors 97,994 79,303
Other debtors - 165
97,994 79,468
6 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 23,035 19,154
Other creditors 31,516 45,122
54,551 64,276
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 5,655 7,600
8 Other information
Bellfred Limited is a private company limited by shares and incorporated in England. Its registered office is:
3 Mount Pleasant
Waterloo
Liverpool
L22 5PL
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