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REGISTERED NUMBER: SC235052 (Scotland)





















Unaudited Financial Statements

For The Year Ended 30 September 2023

for

Belgica UK Limited

Belgica UK Limited (Registered number: SC235052)






Contents of the Financial Statements
For The Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

Belgica UK Limited

Company Information
For The Year Ended 30 September 2023







DIRECTORS: S J Edmonston
M K Tjondronegoro





SECRETARY: M K Tjondronegoro





REGISTERED OFFICE: 1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH





REGISTERED NUMBER: SC235052 (Scotland)





ACCOUNTANTS: Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH

Belgica UK Limited (Registered number: SC235052)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 784,653 841,122
Investments 6 500,000 -
1,284,653 841,122

CURRENT ASSETS
Stocks 456,872 473,152
Debtors 7 547,744 120,766
Cash at bank and in hand 304,904 926,184
1,309,520 1,520,102
CREDITORS
Amounts falling due within one year 8 899,358 761,448
NET CURRENT ASSETS 410,162 758,654
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,694,815

1,599,776

CREDITORS
Amounts falling due after more than one
year

9

(192,114

)

(245,493

)

PROVISIONS FOR LIABILITIES 11 (23,041 ) (44,421 )
NET ASSETS 1,479,660 1,309,862

CAPITAL AND RESERVES
Called up share capital 126,668 126,668
Revaluation reserve 12 65,171 66,557
Retained earnings 1,287,821 1,116,637
1,479,660 1,309,862

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Belgica UK Limited (Registered number: SC235052)

Balance Sheet - continued
30 September 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 31 January 2024 and were signed on its behalf by:





M K Tjondronegoro - Director


Belgica UK Limited (Registered number: SC235052)

Notes to the Financial Statements
For The Year Ended 30 September 2023

1. STATUTORY INFORMATION

Belgica UK Limited 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.

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.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Cash and Bank Balances
Cash and bank balances are measured at the transaction price.


Belgica UK Limited (Registered number: SC235052)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2022 - 28 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 October 2022
and 30 September 2023 20,380
AMORTISATION
At 1 October 2022
and 30 September 2023 20,380
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 -

Belgica UK Limited (Registered number: SC235052)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 October 2022 718,199 13,268 123,519
Additions - - 3,134
At 30 September 2023 718,199 13,268 126,653
DEPRECIATION
At 1 October 2022 28,704 9,476 100,758
Charge for year 14,364 2,302 14,516
At 30 September 2023 43,068 11,778 115,274
NET BOOK VALUE
At 30 September 2023 675,131 1,490 11,379
At 30 September 2022 689,495 3,792 22,761

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2022 191,313 17,160 1,063,459
Additions - 3,310 6,444
At 30 September 2023 191,313 20,470 1,069,903
DEPRECIATION
At 1 October 2022 70,234 13,165 222,337
Charge for year 30,270 1,461 62,913
At 30 September 2023 100,504 14,626 285,250
NET BOOK VALUE
At 30 September 2023 90,809 5,844 784,653
At 30 September 2022 121,079 3,995 841,122

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 500,000
At 30 September 2023 500,000
NET BOOK VALUE
At 30 September 2023 500,000

Belgica UK Limited (Registered number: SC235052)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2023

7. DEBTORS
30.9.23 30.9.22
£    £   
Amounts falling due within one year:
Trade debtors 3,720 2,280
Other debtors 378,205 118,486
381,925 120,766

Amounts falling due after more than one year:
Other debtors 165,819 -

Aggregate amounts 547,744 120,766

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts 32,064 36,095
Hire purchase contracts 24,941 25,949
Trade creditors 411,399 296,418
Taxation and social security 178,634 186,549
Other creditors 252,320 216,437
899,358 761,448

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.23 30.9.22
£    £   
Bank loans 124,831 153,269
Hire purchase contracts 67,283 92,224
192,114 245,493

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 40,657 50,127

Belgica UK Limited (Registered number: SC235052)

Notes to the Financial Statements - continued
For The Year Ended 30 September 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

30.9.23 30.9.22
£    £   
Bank loans 156,895 189,366

The bank hold the following securities:
1. The property known as and forming units 4-10 Grangemouth Road, EH51 0PU.
2. Bond and floating charge covers the whole assets of the company.

11. PROVISIONS FOR LIABILITIES
30.9.23 30.9.22
£    £   
Deferred tax 23,041 44,421

Deferred
tax
£   
Balance at 1 October 2022 44,421
Credit to Income Statement during year (21,380 )
Balance at 30 September 2023 23,041

12. RESERVES
Revaluation
reserve
£   
At 1 October 2022 66,557
Asset revaluation (1,711 )
Deferred tax 325

At 30 September 2023 65,171

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2023 and 30 September 2022:

30.9.23 30.9.22
£    £   
M K Tjondronegoro
Balance outstanding at start of year 60,000 (398 )
Amounts advanced 96,601 136,335
Amounts repaid (66,416 ) (75,937 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 90,185 60,000

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Belgica UK Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Belgica UK Limited for the year ended 30 September 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Belgica UK Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Belgica UK Limited and state those matters that we have agreed to state to the Board of Directors of Belgica UK Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Belgica UK Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Belgica UK Limited. You consider that Belgica UK Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Belgica UK Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Atkinson Donnelly LLP
1 Cambuslang Court
Cambuslang
Glasgow
Strathclyde
G32 8FH


31 January 2024