REGISTERED NUMBER: |
BELGRAVE INVESTMENTS LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST OCTOBER 2023 |
REGISTERED NUMBER: |
BELGRAVE INVESTMENTS LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST OCTOBER 2023 |
BELGRAVE INVESTMENTS LIMITED (REGISTERED NUMBER: 03241218) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST OCTOBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
BELGRAVE INVESTMENTS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST OCTOBER 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
t/as Findlay Wetherfield Scott & Co |
Chartered Accountants |
137, Station Road, |
Chingford, |
London |
E4 6AG |
BANKERS: |
279, High Street, |
Epping, |
Essex |
CM16 4BG |
BELGRAVE INVESTMENTS LIMITED (REGISTERED NUMBER: 03241218) |
BALANCE SHEET |
31ST OCTOBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges her 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. |
BELGRAVE INVESTMENTS LIMITED (REGISTERED NUMBER: 03241218) |
BALANCE SHEET - continued |
31ST OCTOBER 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
BELGRAVE INVESTMENTS LIMITED (REGISTERED NUMBER: 03241218) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST OCTOBER 2023 |
1. | STATUTORY INFORMATION |
Belgrave Investments Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the rent receivable during the year from let properties and associated equipment excluding value added tax. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
BELGRAVE INVESTMENTS LIMITED (REGISTERED NUMBER: 03241218) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST OCTOBER 2023 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
Cost or valuation |
At 1st November 2022 |
and 31st October 2023 |
Depreciation |
At 1st November 2022 |
Charge for year |
At 31st October 2023 |
Net book value |
At 31st October 2023 |
At 31st October 2022 |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
Cost or valuation |
At 1st November 2022 |
and 31st October 2023 |
Depreciation |
At 1st November 2022 |
Charge for year |
At 31st October 2023 |
Net book value |
At 31st October 2023 |
At 31st October 2022 |
Cost or valuation at 31st October 2023 is represented by: |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
Valuation in 2016 | 989,258 | - | - |
Cost | 777,321 | 10,607 | 51,152 |
1,766,579 | 10,607 | 51,152 |
BELGRAVE INVESTMENTS LIMITED (REGISTERED NUMBER: 03241218) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST OCTOBER 2023 |
4. | TANGIBLE FIXED ASSETS - continued |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
Valuation in 2016 | - | - | 989,258 |
Cost | 9,250 | 5,178 | 853,508 |
9,250 | 5,178 | 1,842,766 |
The freehold properties have been restated at fair value with the comparative values also having been restated at the same value as no material change in the fair value was considered to have occurred in the year. The effect and amount of the revaluation, before provision of deferred taxation thereon, is as stated in this note |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Corporation tax |
Social security and other taxes |
Directors' current accounts | 650,083 | 654,477 |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans - 2-5 years |
8. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax | 126,142 | 126,374 |
Deferred |
tax |
£ |
Balance at 1st November 2022 |
Credit to Income Statement during year | ( |
) |
Balance at 31st October 2023 |
BELGRAVE INVESTMENTS LIMITED (REGISTERED NUMBER: 03241218) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST OCTOBER 2023 |
8. | PROVISIONS FOR LIABILITIES - continued |
Deferred tax includes provision of £148,493 for the book gain on the revaluing of freehold property to its fair value. This will crystalize in full or in part, only on disposal of any of the properties. |
9. | RESERVES |
Fair |
value |
reserve |
£ |
At 1st November 2022 |
and 31st October 2023 |
The fair value reserve is the net book gain on the revaluation of the freehold properties less associated deferred tax provision on that gain. |
10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The amount owing to the director at the balance sheet was £650,083 |
11. | RELATED PARTY DISCLOSURES |
Dividends of £23,500 were paid to directors and related parties. |
12. | ULTIMATE CONTROLLING PARTY |
The controlling party at the balance sheet date was A.M.White, the director, by virtue of her ownership of the majority of the company's issued ordinary share capital. |