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COMPANY REGISTRATION NUMBER: 13118329
Bela Electronic Designs Holdings Limited
Unaudited Financial Statements
For the year ended
31 July 2023
Bela Electronic Designs Holdings Limited
Financial Statements
Year ended 31 July 2023
Contents
Page
Officers and professional advisers
1
Strategic report
2
Directors' report
3
Statement of financial position
5
Notes to the financial statements
6
Bela Electronic Designs Holdings Limited
Officers and Professional Advisers
The board of directors
G Mitchell
D A Croft
Registered office
12-14 Brooklands
Woburn Road Industrial Estate
Kempston
Bedford
MK42 7UH
Accountants
Streets
Chartered accountants
Enterprise House
38 Tyndall Court
Commerce Road
Lynch Wood
Peterborough
Cambs
PE2 6LR
Bela Electronic Designs Holdings Limited
Strategic Report
Year ended 31 July 2023
This report was approved by the board of directors on 30 January 2024 and signed on behalf of the board by:
G Mitchell
Director
Registered office:
12-14 Brooklands
Woburn Road Industrial Estate
Kempston
Bedford
MK42 7UH
Bela Electronic Designs Holdings Limited
Directors' Report
Year ended 31 July 2023
The directors present their report and the unaudited financial statements of the company for the year ended 31 July 2023 .
The company has been dormant as defined in section 1169 of the Companies Act 2006 throughout the year and preceding financial year. It is anticipated that the company will remain dormant for the foreseeable future.
Directors
The directors who served the company during the year were as follows:
G Mitchell
D A Croft
M G Negus
M J Knight
(Resigned 7 October 2022)
M G Negus resigned as a director on 8th January 2024 and J Drake was appointed as a director on 8th January 2024.
Dividends
The directors do not recommend the payment of a dividend.
Greenhouse gas emissions and energy consumption
Information not included
The company is exempt from the requirements to report under SECR as the company has consumed 40,000kWh of energy or less in the UK during the period.
This report was approved by the board of directors on 30 January 2024 and signed on behalf of the board by:
G Mitchell
Director
Registered office:
12-14 Brooklands
Woburn Road Industrial Estate
Kempston
Bedford
MK42 7UH
Bela Electronic Designs Holdings Limited
Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
£
Fixed assets
Investments
4
2,000
2,000
-------
-------
Total assets less current liabilities
2,000
2,000
-------
-------
Capital and reserves
Called up share capital
5
2,000
2,000
-------
-------
Shareholders funds
2,000
2,000
-------
-------
The company did not trade during the current year or prior year and has not made either a profit or loss.
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 30 January 2024 , and are signed on behalf of the board by:
G Mitchell
Director
Company registration number: 13118329
Bela Electronic Designs Holdings Limited
Notes to the Financial Statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 12-14 Brooklands, Woburn Road Industrial Estate, Kempston, MK42 7UH, Bedford.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of (enter name of group financial statements) which can be obtained from (enter detail). As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented. (c) Disclosures in respect of share-based payments have not been presented. (d) No disclosure has been given for the aggregate remuneration of key management personnel.
Income statement
The company is dormant as defined by section 1169 of the Companies Act 2006. The company received no income and incurred no expenditure during the current year or prior year and therefore no income statement is presented within these financial statements. There have been no movements in shareholders funds during the current year or prior year.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
The entity has taken advantage of the exemption from preparing consolidated financial statements contained in Section 400 of the Companies Act 2006 on the basis that it is a subsidiary undertaking and its immediate parent undertaking is established under the law of any part of the United Kingdom.
Judgements and key sources of estimation uncertainty
In application of the company's accounting policies, the directors are required to make judgements, estimated and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the periods of the revision and future periods where the revision affects both current and future periods.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Investments
Shares in group undertakings
£
Cost
At 1 August 2022 and 31 July 2023
2,000
-------
Impairment
At 1 August 2022 and 31 July 2023
-------
Carrying amount
At 31 July 2023
2,000
-------
At 31 July 2022
2,000
-------
Subsidiaries, associates and other investments
Class of share
Percentage of shares held
Subsidiary undertakings
Bela Electrinc Designs Limited 12-14 Brooklands, Woburn Raod Industrial Estate, Kempston, Bedford
Ordinary
100
5. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
2,000
2,000
2,000
2,000
-------
-------
-------
-------
6. Other financial commitments
The company together with the following fellow group members POD Bidco Limited, Vanilla Electronics Limited, Interconics Limited, Golledge Electronics Limited and Bela Electronic Designs Limited entered a cross guarantee with Investec Bank in respect of a fixed and floating charge over the assets of the companies. At 31 July 2023 the total amount covered by the cross guarantee amounted to £13,683,644 (2022 - £13,577,490).
7. Controlling party
The immediate parent company is considered to be POD Bidco Limited, a company registered in England and Wales. The ultimate parent company is considered to be Literacy Capital PLC a company incorporated in England and Wales. Techpoint Group Limited is the smallest company in the group that produces group consolidated accounts.