Silverfin false 31/03/2023 01/04/2022 31/03/2023 Dominic Alexander Church 12/10/2022 Gabriele Maria Church 12/10/2022 Marian Sadler 07/03/2008 02 February 2024 The principal activity of the Company during the financial year is that of property investment. 06527481 2023-03-31 06527481 bus:Director1 2023-03-31 06527481 bus:Director2 2023-03-31 06527481 bus:Director3 2023-03-31 06527481 2022-03-31 06527481 core:CurrentFinancialInstruments 2023-03-31 06527481 core:CurrentFinancialInstruments 2022-03-31 06527481 core:ShareCapital 2023-03-31 06527481 core:ShareCapital 2022-03-31 06527481 core:SharePremium 2023-03-31 06527481 core:SharePremium 2022-03-31 06527481 core:RetainedEarningsAccumulatedLosses 2023-03-31 06527481 core:RetainedEarningsAccumulatedLosses 2022-03-31 06527481 core:FurnitureFittings 2022-03-31 06527481 core:FurnitureFittings 2023-03-31 06527481 bus:OrdinaryShareClass1 2023-03-31 06527481 2022-04-01 2023-03-31 06527481 bus:FullAccounts 2022-04-01 2023-03-31 06527481 bus:SmallEntities 2022-04-01 2023-03-31 06527481 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 06527481 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06527481 bus:Director1 2022-04-01 2023-03-31 06527481 bus:Director2 2022-04-01 2023-03-31 06527481 bus:Director3 2022-04-01 2023-03-31 06527481 core:FurnitureFittings 2022-04-01 2023-03-31 06527481 2021-04-01 2022-03-31 06527481 core:CurrentFinancialInstruments 2022-04-01 2023-03-31 06527481 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 06527481 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 06527481 (England and Wales)

BEL ETAGE LTD

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

BEL ETAGE LTD

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

BEL ETAGE LTD

COMPANY INFORMATION

For the financial year ended 31 March 2023
BEL ETAGE LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2023
DIRECTORS Dominic Alexander Church
Gabriele Maria Church
Marian Sadler
SECRETARY Claire Michelle Sadler
REGISTERED OFFICE Centenary House Peninsula Park
Rydon Lane
Exeter
EX2 7XE
United Kingdom
COMPANY NUMBER 06527481 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
BEL ETAGE LTD

BALANCE SHEET

As at 31 March 2023
BEL ETAGE LTD

BALANCE SHEET (continued)

As at 31 March 2023
Note 31.03.2023 31.03.2022
£ £
Fixed assets
Tangible assets 3 1,478 1,847
Investment property 4 692,658 690,000
694,136 691,847
Current assets
Debtors 5 1,064 2,567
Cash at bank and in hand 43,780 54,701
44,844 57,268
Creditors: amounts falling due within one year 6 ( 326,903) ( 350,393)
Net current liabilities (282,059) (293,125)
Total assets less current liabilities 412,077 398,722
Provision for liabilities ( 4,950) ( 4,950)
Net assets 407,127 393,772
Capital and reserves
Called-up share capital 7 1,000 1,000
Share premium account 284,443 284,443
Profit and loss account 8 121,684 108,329
Total shareholders' funds 407,127 393,772

For the financial 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.

Directors' responsibilities:

The financial statements of BEL ETAGE LTD (registered number: 06527481) were approved and authorised for issue by the Board of Directors on 02 February 2024. They were signed on its behalf by:

Dominic Alexander Church
Director
Gabriele Maria Church
Director
Marian Sadler
Director
BEL ETAGE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
BEL ETAGE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Bel Etage Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom. The principal place of business is Parks Barn, Abbey Road, Cornworthy, Devon, TQ9 7ET.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

There are no material departures from FRS 102.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover represents rental income receivable during the period, exclusive of value added tax.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

2. Employees

31.03.2023 31.03.2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Tangible assets

Fixtures and fittings Total
£ £
Cost
At 01 April 2022 5,620 5,620
At 31 March 2023 5,620 5,620
Accumulated depreciation
At 01 April 2022 3,773 3,773
Charge for the financial year 369 369
At 31 March 2023 4,142 4,142
Net book value
At 31 March 2023 1,478 1,478
At 31 March 2022 1,847 1,847

4. Investment property

Investment property
£
Valuation
As at 01 April 2022 690,000
Additions 2,658
As at 31 March 2023 692,658

Valuation

Investment properties were last revalued on 31 March 2021 by Watsons, regulated by the Royal Institution of Chartered Surveyors. The directors are satisfied that the valuation remains appropriate.

Historic cost

If the investment properties had been accounted for cost accounting rules, the properties would have been measured as follows:

31.03.2023 31.03.2022
£ £
Historic cost 597,530 594,872

5. Debtors

31.03.2023 31.03.2022
£ £
Prepayments 1,064 567
Other debtors 0 2,000
1,064 2,567

6. Creditors: amounts falling due within one year

31.03.2023 31.03.2022
£ £
Amounts owed to directors 219,997 344,743
Accruals 2,625 2,500
Corporation tax 3,300 3,150
Other creditors 100,981 0
326,903 350,393

Following the death of Mr M Church in 2020 there are ongoing discussions between the Estate of Mr Church and the Directors concerning the allocation of various transactions with the company, and specifically the split of the balance owed to the Estate by the company, which is disclosed within ‘Other Creditors’, and the amount owed to the Directors, which is disclosed within ‘Amounts owed to Directors’. These discussions have yet to be concluded, and once those discussions are concluded it may be necessary to adjust the allocation of creditors disclosed in the accounts between ‘Other Creditors; and ‘Amounts owed to Directors.

7. Called-up share capital

31.03.2023 31.03.2022
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000

8. Reserves

At 31 March 2023, the profit and loss account included £91,301 (2022: £90,428) of non-distributable reserves. This relates to the revaluation surplus on investment properties, net of deferred tax.