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REGISTERED NUMBER: 05670203 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Belmark Homes Limited

Belmark Homes Limited (Registered number: 05670203)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Belmark Homes Limited

Company Information
for the year ended 31 March 2024







DIRECTOR: J M Tyrrell





SECRETARY: N R Tyrrell





REGISTERED OFFICE: 9 Glenmore Business Park
Langford Locks
Kidlington
Oxfordshire
OX5 1GL





REGISTERED NUMBER: 05670203 (England and Wales)





ACCOUNTANTS: Campbell Accountancy Limited
Chartered Certified Accountants
Old Chapel
The Green
Lower Boddington
Northamptonshire
NN11 6YE

Belmark Homes Limited (Registered number: 05670203)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,238 1,416
Investments 5 1 1
1,239 1,417

CURRENT ASSETS
Stocks 2,121,489 2,665,185
Debtors 6 387,111 408,190
Cash at bank 776,299 63,591
3,284,899 3,136,966
CREDITORS
Amounts falling due within one year 7 (1,265,986 ) (874,758 )
NET CURRENT ASSETS 2,018,913 2,262,208
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,020,152

2,263,625

CREDITORS
Amounts falling due after more than one
year

8

(600,000

)

(940,549

)
NET ASSETS 1,420,152 1,323,076

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,420,150 1,323,074
SHAREHOLDERS' FUNDS 1,420,152 1,323,076

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 August 2024 and were signed by:



J M Tyrrell - Director


Belmark Homes Limited (Registered number: 05670203)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Belmark Homes Limited is a private company, limited by shares , registered in England and Wales. 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.

Preparation of consolidated financial statements
The financial statements contain information about Belmark Homes Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Belmark Homes Limited (Registered number: 05670203)

Notes to the Financial Statements - continued
for the year ended 31 March 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 NIL (2023 - 1 ).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 9,219
Additions 235
At 31 March 2024 9,454
DEPRECIATION
At 1 April 2023 7,803
Charge for year 413
At 31 March 2024 8,216
NET BOOK VALUE
At 31 March 2024 1,238
At 31 March 2023 1,416

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 1
NET BOOK VALUE
At 31 March 2024 1
At 31 March 2023 1

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 344,728 354,728
Other debtors 42,383 53,462
387,111 408,190

Belmark Homes Limited (Registered number: 05670203)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 43,957 97,215
Taxation and social security 28,216 4,478
Other creditors 1,193,813 773,065
1,265,986 874,758

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 240,549
Other creditors 600,000 700,000
600,000 940,549

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 240,549
Other loans - 700,000
- 940,549

Loans are secured on development assets owned by the company.

10. RELATED PARTY DISCLOSURES

At the balance sheet date the director & his family were owed £950,315 (2023: £725,316) in respect of unsecured, interest free loans made to the company.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J M Tyrrell.