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Bellsquare Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09898097
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 83,856 6,143
Investments 5 649,028 418,090
732,884 424,233
CURRENT ASSETS
Debtors 6 202,898 39,627
Cash at bank and in hand 38,430 587,276
241,328 626,903
Creditors: Amounts Falling Due Within One Year 7 (46,230 ) (87,548 )
NET CURRENT ASSETS (LIABILITIES) 195,098 539,355
TOTAL ASSETS LESS CURRENT LIABILITIES 927,982 963,588
PROVISIONS FOR LIABILITIES
Deferred Taxation (20,964 ) -
NET ASSETS 907,018 963,588
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 906,918 963,488
SHAREHOLDERS' FUNDS 907,018 963,588
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms K A Ware
Director
12 September 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Bellsquare Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09898097 . The registered office is Mill House, Liphook Road, Haslemere, Surrey, GU27 3QE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 20% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 33% reducing balance
2.4. Financial Instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares, which are measured at fair value, with changes recognised in profit or loss. 
Derivative financial instruments, where applicable, are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and a deferred tax provision where necessary in accordance with accounting standards.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all material taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Where a reliable tax rate cannot be forecast, a deferred tax provision is calculated at the highest tax rate possibly applicable, based on tax rates (and tax laws) enacted by the end of the reporting date. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
...CONTINUED
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2.6. Taxation - continued
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
The average number of employees, including directors, during the year was as follows: 2 (2022: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2023 - - 11,961 19,032 30,993
Additions 6,094 88,016 - 2,139 96,249
As at 31 December 2023 6,094 88,016 11,961 21,171 127,242
Depreciation
As at 1 January 2023 - - 8,653 16,197 24,850
Provided during the period 1,524 17,603 1,241 2,575 22,943
On revaluations - - (1,655 ) (2,752 ) (4,407 )
As at 31 December 2023 1,524 17,603 8,239 16,020 43,386
Net Book Value
As at 31 December 2023 4,570 70,413 3,722 5,151 83,856
As at 1 January 2023 - - 3,308 2,835 6,143
In the prior year certain assets were over depreciated, these have been corrected within the accounts for the year ended 31 December 2023.
5. Investments
Other
£
Cost
As at 1 January 2023 418,090
Additions 231,396
Revaluations (458 )
As at 31 December 2023 649,028
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 649,028
As at 1 January 2023 418,090
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6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 192,750 39,627
Other debtors 10,148 -
202,898 39,627
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 22,378 8,040
Other creditors 1,589 12,810
Taxation and social security 22,263 66,698
46,230 87,548
Included within Other creditors above are unsecured loans from the directors of £589 (2022 - £1,759 ). These loans are interest free and repayable on demand.
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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