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REGISTERED NUMBER: 01057514 (England and Wales)














Unaudited Financial Statements

for the Year Ended 1 April 2024

for

Belfield Bros.Limited

Belfield Bros.Limited (Registered number: 01057514)






Contents of the Financial Statements
for the Year Ended 1 April 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Belfield Bros.Limited (Registered number: 01057514)

Balance Sheet
1 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 274,200 285,928

CURRENT ASSETS
Stocks 7,500 7,500
Debtors 5 367,968 345,453
Cash at bank and in hand 126,025 173,616
501,493 526,569
CREDITORS
Amounts falling due within one year 6 160,307 183,837
NET CURRENT ASSETS 341,186 342,732
TOTAL ASSETS LESS CURRENT LIABILITIES 615,386 628,660

PROVISIONS FOR LIABILITIES 41,582 43,811
NET ASSETS 573,804 584,849

CAPITAL AND RESERVES
Called up share capital 100 100
Capital redemption reserve 1,296 1,296
Retained earnings 572,408 583,453
SHAREHOLDERS' FUNDS 573,804 584,849

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 1 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 1 April 2024 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 August 2024 and were signed on its behalf by:





Mr M J Belfield - Director


Belfield Bros.Limited (Registered number: 01057514)

Notes to the Financial Statements
for the Year Ended 1 April 2024

1. STATUTORY INFORMATION

Belfield Bros.Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01057514

Registered office: Meadow View Farm
Bradnop
Leek
Staffordshire
ST13 7NQ

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents net invoiced sales of goods and services, excluding value added tax.

Revenue is recognised as the company becomes entitled to consideration for the goods and services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced on service contracts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on reducing balance

Depreciation is not charged on 'Expenditure of Rented Property' as it is the company's policy to maintain such property in good condition that any depreciation involved would not be material. Costs of repairs and maintenance are charged against revenue in the period in which they are incurred.

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Belfield Bros.Limited (Registered number: 01057514)

Notes to the Financial Statements - continued
for the Year Ended 1 April 2024

2. ACCOUNTING POLICIES - continued

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 9 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 2 April 2023 55,342 3,500 18,652
Additions - - 133
Disposals - - -
At 1 April 2024 55,342 3,500 18,785
DEPRECIATION
At 2 April 2023 - 385 18,570
Charge for year - 1,028 32
Eliminated on disposal - - -
At 1 April 2024 - 1,413 18,602
NET BOOK VALUE
At 1 April 2024 55,342 2,087 183
At 1 April 2023 55,342 3,115 82

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 2 April 2023 629,963 1,660 709,117
Additions 67,996 - 68,129
Disposals (29,000 ) - (29,000 )
At 1 April 2024 668,959 1,660 748,246
DEPRECIATION
At 2 April 2023 402,574 1,660 423,189
Charge for year 54,147 - 55,207
Eliminated on disposal (4,350 ) - (4,350 )
At 1 April 2024 452,371 1,660 474,046
NET BOOK VALUE
At 1 April 2024 216,588 - 274,200
At 1 April 2023 227,389 - 285,928

Belfield Bros.Limited (Registered number: 01057514)

Notes to the Financial Statements - continued
for the Year Ended 1 April 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 341,972 326,268
Amounts owed by associates 11,610 8,754
Other debtors 14,386 10,431
367,968 345,453

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 127,093 141,716
Taxation and social security 22,806 33,564
Other creditors 10,408 8,557
160,307 183,837