Company Registration No. 14539632 (England and Wales)
BELMONT 2022 LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
BELMONT 2022 LIMITED
COMPANY INFORMATION
Director
C D Payne
(Appointed 9 February 2024)
Company number
14539632
Registered office
4-7 Great Pulteney Street
London
W1F 9NA
United Kingdom
Auditor
HW Fisher LLP
Acre House
11-15 William Road
London
NW1 3ER
United Kingdom
Bankers
Barclays Bank Plc
Leicester
Leicestershire
LE87 2BB
BELMONT 2022 LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
BELMONT 2022 LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
31 December 2023
Notes
£
£
Current assets
Debtors
4
31,116
Cash at bank and in hand
461,503
492,619
Creditors: amounts falling due within one year
5
(3,575,479)
Net current liabilities
(3,082,860)
Capital and reserves
Called up share capital
6
10,000
Profit and loss reserves
(3,092,860)
Total equity
(3,082,860)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 11 September 2024 and are signed on its behalf by:
C D Payne
Director
Company Registration No. 14539632
BELMONT 2022 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A connected beneficiary has provided financial support to the company should it be required to meet its liabilities as they fall due. Therefore, atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets that have an indefinite useful life or intangible assets which are under development are not subject to amortisation and are tested annually for impairment.

 

Impairment is recognised in the profit and loss account whenever the carrying amount of an asset exceeds its recoverable amount.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its 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.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

BELMONT 2022 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
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, bank loans and loans from fellow group companies 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.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

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 amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The company did not have any employees during the period.

BELMONT 2022 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 4 -
3
Intangible fixed assets
Mobile applications under construction
£
Cost
At 13 December 2022
-
0
Additions
3,013,318
At 31 December 2023
3,013,318
Amortisation and impairment
At 13 December 2022
-
0
Impairment losses
3,013,318
At 31 December 2023
3,013,318
Carrying amount
At 31 December 2023
-
0
4
Debtors
Period ended 31 December 2023
Amounts falling due within one year:
£
Amounts owed by connected companies
24,120
Other debtors
6,996
31,116
5
Creditors: amounts falling due within one year
Period ended 31 December 2023
£
Amount owed to parent undertakings
3,551,479
Accruals and deferred income
24,000
3,575,479
6
Called up share capital
Period ended 31 December 2023
Period ended 31 December 2023
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of £1 each
10,000
10,000
BELMONT 2022 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 5 -
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The senior statutory auditor was Simon Mott-Cowan.
The auditor was HW Fisher LLP.
8
Related party transactions

The company is taking advantage of the FRS 102 33.1A exemption in relation to disclosing related party transactions with fellow subsidiaries which are also part of Chaotic Good Capital AG.

9
Parent company

The immediate parent company is Chaotic Good Capital AG and the ultimate parent entity is Claymore Investment Trust. The registered address for both entities is Kirchstrasse 39, 9490, Vaduz, LI-11, Liechstenstein.

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