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Registered Number: 12312423


 

 

 

BELADOMA LIMITED


Report of the Directors and Unaudited Financial Statements
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023
Directors Elizabeth Folakemi Morenike OLADIPO
James Samuel Oladimeji OLADIPO
Registered Number 12312423
Registered Office 23 COLLINGWOOD ROAD
BASILDON UNITED KINGDOM
SS16 4DN
Accountants TJ Smith
7 Bell Yard
London
WC2A 2JR
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 30 November 2023.
Principal activities
Principal activity of the company during the financial year was of ...
Directors
The directors who served the company throughout the year were as follows:
Elizabeth Folakemi Morenike OLADIPO
James Samuel Oladimeji OLADIPO
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
James Samuel Oladimeji OLADIPO
Director

Date approved: 30 August 2024
2
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of BELADOMA LIMITED for the year ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of BELADOMA LIMITED for the year ended 30 November 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the 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 the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance
This report is made solely to the Board of Directors of BELADOMA LIMITED , as a body, in accordance with the terms of our engagement letter dated 30 August 2024. Our work has been undertaken solely to prepare for your approval the accounts of BELADOMA LIMITED and state those matters that we have agreed to state to the Board of Directors of BELADOMA LIMITED , 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 BELADOMA LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that BELADOMA LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of BELADOMA LIMITED . You consider that BELADOMA 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 accounts of BELADOMA 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 accounts
30 November 2023



....................................................
TJ Smith
7 Bell Yard
London
WC2A 2JR
30 August 2024
3
 
 
Notes
 
2023
£
  2022
£
Turnover 25,455    6,000 
Cost of sales (1,553)  
Gross profit 23,902    6,000 
Administrative expenses (5,503)   (2,991)
Operating profit 2 18,399    3,009 
Interest payable and similar charges 4 (10,534)   (5,517)
Profit/(Loss) on ordinary activities before taxation 7,865    (2,508)
Tax on profit on ordinary activities  
Profit/(Loss) for the financial year 7,865    (2,508)
 
4
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 5 627,452    214,559 
627,452    214,559 
Current assets      
Debtors 6 100    100 
Cash at bank and in hand 2,240    976 
2,340    1,076 
Creditors: amount falling due within one year 7 (60,684)   (11,938)
Net current assets (58,344)   (10,862)
 
Total assets less current liabilities 569,108    203,697 
Creditors: amount falling due after more than one year 8 (575,431)   (217,885)
Net assets (6,323)   (14,188)
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 9 (6,423)   (14,288)
Shareholders' funds (6,323)   (14,188)
 


For the year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors on 30 August 2024 and were signed on its behalf by:


-------------------------------
James Samuel Oladimeji OLADIPO
Director
5
General Information
BELADOMA LIMITED is a private company, limited by shares, registered in , registration number 12312423, registration address 23 COLLINGWOOD ROAD, BASILDON UNITED KINGDOM, SS16 4DN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 4 years Straight Line
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2.

Operating profit/(loss)

2023
£
  2022
£
The operating profit is stated after charging:

 
Depreciation of tangible fixed assets 905    686 

3.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
4.

Interest payable and similar charges

2023
£
  2022
£
Mortgage Interest 10,534    5,517 
10,534    5,517 

5.

Tangible fixed assets

Cost or valuation Computer Equipment   Investment properties   Total
  £   £   £
At 01 December 2022 3,619    212,500    216,119 
Additions   413,797    413,797 
Disposals    
At 30 November 2023 3,619    626,297    629,916 
Depreciation
At 01 December 2022 1,560      1,560 
Charge for year 904      904 
On disposals    
At 30 November 2023 2,464      2,464 
Net book values
Closing balance as at 30 November 2023 1,155    626,297    627,452 
Opening balance as at 01 December 2022 2,059    212,500    214,559 


6.

Debtors: amounts falling due within one year

2023
£
  2022
£
Called up Share Capital Not Paid 100    100 
100    100 

7.

Creditors: amount falling due within one year

2023
£
  2022
£
Mortgage Interest Payable 25,128    5,517 
Accrued Expenses 50    649 
Intercompany Loan- Labae Ltd 22,516   
Directors' Loan Accounts- Current 12,990    5,772 
60,684    11,938 

8.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 494,222    164,176 
Directors' Loan Accounts- None Current 81,209    53,709 
575,431    217,885 

9.

Profit and loss account

  2023
£
Balance at 01 December 2022 (14,288)
Profit for the year 7,865 
Balance at 30 November 2023 (6,423)

6
  2023
£
  2022
£
Turnover          
Rental Income   25,455      6,000 
  25,455      6,000 
Cost of sales          
Cleaning 186     
Property Supplies 1,367     
  (1,553)    
Gross profit   23,902      6,000 
Administrative expenses          
Accountancy Fees 600      600 
Legal and Professional Fees (Allowable) 2,374     
Property Insurance 497      239 
Property Maintenance (Allowable) 383     
Use of Home as Office 624      624 
Petrol and Oil 63     
General Travel Expenses     529 
Bank Charges 10      7 
Depreciation Charge: Computer Equipment 905      686 
Stationery & Postage 7      306 
Subsistence 40     
  (5,503)     (2,991)
Operating profit   18,399      3,009 
Interest payable and similar charges          
Mortgage Interest 10,534      5,517 
  (10,534)     (5,517)
Profit/(Loss) on ordinary activities before taxation   7,865      (2,508)
Profit/(Loss) for the financial year   7,865      (2,508)
 
7