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Company registration number: 04878197
BELVIDERE LIFTS LIMITED
31 January 2024
HEYWOODS
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
BELVIDERE LIFTS LIMITED
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
BELVIDERE LIFTS LIMITED
DIRECTORS AND OTHER INFORMATION
Director Mr S R Nankivell
Secretary Mrs L D Nankivell
Company number 04878197
Registered office Countrywide House
Knights Way
Battlefield Enterprise Park
Shrewsbury
SY1 3AB
Business address Unit 4, The Courtyard
Yeomanry Road
Battlefield Enterprise Park
Shrewsbury
SY1 3EH
Accountants Heywoods
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
BELVIDERE LIFTS LIMITED
CHARTERED ACCOUNTANTS REPORT TO THE DIRECTOR ON THE PREPARATION OF THE
UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BELVIDERE LIFTS LIMITED
YEAR ENDED 31 JANUARY 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Belvidere Lifts Limited for the year ended 31 January 2024 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of Belvidere Lifts Limited, as a body, in accordance with the terms of our engagement letter dated 16 May 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Belvidere Lifts Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Belvidere Lifts Limited and its director as a body for our work or for this report.
It is your duty to ensure that Belvidere Lifts 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 Belvidere Lifts Limited. You consider that Belvidere Lifts 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 Belvidere Lifts 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.
Heywoods
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
10 June 2024
BELVIDERE LIFTS LIMITED
STATEMENT OF FINANCIAL POSITION
31 JANUARY 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 538,338 220,981
_______ _______
538,338 220,981
Current assets
Stocks 15,701 13,373
Debtors 6 264,605 171,400
Cash at bank and in hand 761,783 930,836
_______ _______
1,042,089 1,115,609
Creditors: amounts falling due
within one year 7 ( 301,556) ( 191,093)
_______ _______
Net current assets 740,533 924,516
_______ _______
Total assets less current liabilities 1,278,871 1,145,497
Creditors: amounts falling due
after more than one year 8 ( 5,679) ( 4,407)
Provisions for liabilities ( 22,622) 1,338
_______ _______
Net assets 1,250,570 1,142,428
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 1,250,568 1,142,426
_______ _______
Shareholders funds 1,250,570 1,142,428
_______ _______
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 03 June 2024 , and are signed on behalf of the board by:
Mr S R Nankivell
Director
Company registration number: 04878197
BELVIDERE LIFTS LIMITED
STATEMENT OF CHANGES IN EQUITY
YEAR ENDED 31 JANUARY 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 February 2022 2 1,039,002 1,039,004
Profit for the year 148,924 148,924
_______ _______ _______
Total comprehensive income for the year - 148,924 148,924
Dividends paid and payable ( 45,500) ( 45,500)
_______ _______ _______
Total investments by and distributions to owners - ( 45,500) ( 45,500)
_______ _______ _______
At 31 January 2023 and 1 February 2023 2 1,142,426 1,142,428
Profit for the year 155,472 155,472
_______ _______ _______
Total comprehensive income for the year - 155,472 155,472
Dividends paid and payable ( 47,330) ( 47,330)
_______ _______ _______
Total investments by and distributions to owners - ( 47,330) ( 47,330)
_______ _______ _______
At 31 January 2024 2 1,250,568 1,250,570
_______ _______ _______
BELVIDERE LIFTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Countrywide House, Knights Way, Battlefield Enterprise Park, Shrewsbury, SY1 3AB.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the value of the consideration received or receivable for services supplied, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - 5 % straight line
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2023: 11 ).
5. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 February 2023 150,181 1,974 19,582 85,816 257,553
Additions 295,474 293 3,884 45,694 345,345
Disposals - - - ( 11,000) ( 11,000)
_______ _______ _______ _______ _______
At 31 January 2024 445,655 2,267 23,466 120,510 591,898
_______ _______ _______ _______ _______
Depreciation
At 1 February 2023 - 670 11,298 24,604 36,572
Charge for the year - 216 1,408 20,692 22,316
Disposals - - - ( 5,328) ( 5,328)
_______ _______ _______ _______ _______
At 31 January 2024 - 886 12,706 39,968 53,560
_______ _______ _______ _______ _______
Carrying amount
At 31 January 2024 445,655 1,381 10,760 80,542 538,338
_______ _______ _______ _______ _______
At 31 January 2023 150,181 1,304 8,284 61,212 220,981
_______ _______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 242,606 153,720
Other debtors 21,999 17,680
_______ _______
264,605 171,400
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 6,925 7,252
Trade creditors 84,489 61,419
Corporation tax 51,360 24,922
Social security and other taxes 41,884 33,196
Other creditors 116,898 64,304
_______ _______
301,556 191,093
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 5,679 4,407
_______ _______
9. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr S R Nankivell 3,330 1,849 - 5,179
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr S R Nankivell 6,456 ( 6,456) 3,330 3,330
_______ _______ _______ _______
The balance on the director's account is included in other creditors.