2022-12-012023-11-302023-11-30false13767548BELLE MARE PROPERTIES 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BELLE MARE PROPERTIES LTD

Registered Number
13767548
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

BELLE MARE PROPERTIES LTD
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

JIVRAJ, Arif Abdul
JUKHOOP, Kishore

Registered Address

Suite 201 Moda Business Centre
Stirling Way
Borehamwood
WD6 2BW

Registered Number

13767548 (England and Wales)
BELLE MARE PROPERTIES LTD
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Investment property3612,907612,907
612,907612,907
Current assets
Cash at bank and on hand4,7029,957
4,7029,957
Creditors amounts falling due within one year4(203,520)(202,710)
Net current assets (liabilities)(198,818)(192,753)
Total assets less current liabilities414,089420,154
Creditors amounts falling due after one year5(433,295)(433,295)
Net assets(19,206)(13,141)
Capital and reserves
Called up share capital100100
Profit and loss account(19,306)(13,241)
Shareholders' funds(19,206)(13,141)
The financial statements were approved and authorised for issue by the Board of Directors on 29 August 2024, and are signed on its behalf by:
JIVRAJ, Arif Abdul
Director
Registered Company No. 13767548
BELLE MARE PROPERTIES LTD
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under historical cost convention modified to include freehold properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The financial statements have been prepared on a going concern basis even though at the balance sheet date the company's net liabilities exceeded its net assets by £19,205 (2022: £13,141). The director considers the going concern basis to be appropriate because in his opinion, the company will obtain sufficient funding from its shareholders to enable it to pay its debts as they fall due.
Turnover policy
Turnover represents the rent receivable in the period. Income is recognised in the period to which it relates.
Current taxation
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.
Investment property
Investment property which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss account.
Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Classification of financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortized cost using the effective interest method.
2.Average number of employees

20232022
Average number of employees during the year22
3.Investment property
In the opinion of the director, the market value of the property is not materially different to the carrying value in the accounts as the balance sheet date.

£
Fair value at 01 December 22612,907
At 30 November 23612,907
4.Creditors: amounts due within one year

2023

2022

££
Other creditors201,900201,900
Accrued liabilities and deferred income1,620810
Total203,520202,710
5.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts433,295433,295
Total433,295433,295
Included within creditors falling due after more than one year is a bank loan amounting to £433,295 (2022: £433,295). The bank loan is secured by first legal charge over the investment property of the company.
6.Related party transactions
Included in other creditors falling due within one year is due to ZAF Holding Ltd £201,000 (2022: £201,000) a company connected to the director. Included in other creditors falling due within one year is an amount of £900 (2022: £900) due to the directors.