Registration number:
Bell Property Rentals Limited
trading as
for the Year Ended 31 December 2023
Bell Property Rentals Limited
trading as Bell Property Rentals Limited
Contents
Balance Sheet |
|
Notes to the Unaudited Financial Statements |
Bell Property Rentals Limited
trading as Bell Property Rentals Limited
(Registration number: 12432324)
Balance Sheet as at 31 December 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
( |
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Creditors: Amounts falling due after more than one year |
- |
( |
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Provisions for liabilities |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
100 |
100 |
|
Other reserves |
21,624 |
(22,936) |
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Retained earnings |
(26,343) |
(1,471) |
|
Shareholders' deficit |
(4,619) |
(24,307) |
For the financial 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.
Director's responsibilities:
• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.
Bell Property Rentals Limited
trading as Bell Property Rentals Limited
(Registration number: 12432324)
Balance Sheet as at 31 December 2023
Approved and authorised by the
......................................... |
Bell Property Rentals Limited
trading as Bell Property Rentals Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
The principal place of business is:
Deermead Cottage
Broad Road
Worstead
NR28 9RU
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
At the balance sheet date, the company had net current liabilities of £1,606,227 (2022: £813,432) and retained losses of £26,343 (2022: £24,407). The director has pledged to continue to financially support the company for the foreseeable future. On this basis, the director feels that it is appropriate to prepare these financial statements on a going concern basis.
Bell Property Rentals Limited
trading as Bell Property Rentals Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Judgements
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for rents received from tenants in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office Equipment |
33% Straight line |
Motor Vehicles |
25% Reducing balance |
Plant and Machinery |
25% Straight line |
Bell Property Rentals Limited
trading as Bell Property Rentals Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
Trade debtors
Trade debtors are amounts due from tenants for rents due in the ordinary course of business.
Trade debtors are recognised at the transaction price.
Trade debtors are reviewed for bad debts on an annual basis. Any adjustment is made accordingly
through the profit and loss account.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised at the transaction price.
Provisions
Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Bell Property Rentals Limited
trading as Bell Property Rentals Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 January 2023 |
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- |
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Revaluations |
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- |
- |
- |
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Additions |
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- |
- |
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At 31 December 2023 |
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At 1 January 2023 |
- |
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- |
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Charge for the year |
- |
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At 31 December 2023 |
- |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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- |
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Included within the net book value of land and buildings above is £1,583,184 (2022 - £889,413) in respect of freehold land and buildings.
There has been no valuation of investment properties by an independant valuer. The Directors' have considered the market value of the properties and consider the current value is representative of the market value of the investment properties at the balance sheet date. The investment properties have securities held as detailed in Note 11.
Debtors |
Current |
Note |
2023 |
2022 |
Amounts owed by related parties |
|
- |
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Prepayments |
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Bell Property Rentals Limited
trading as Bell Property Rentals Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Due within one year |
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Trade creditors |
|
- |
Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
- |
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Details of any secured borrowings are included in Note 8 to these financial statements.
Loans and borrowings |
2023 |
2022 |
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Non-current loans and borrowings |
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Bank borrowings |
- |
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Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
Bell Property Rentals Limited
trading as Bell Property Rentals Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Related party transactions |
Transactions with the director |
2023 |
At 1 January 2023 |
Advances to director |
Repayments by director |
At 31 December 2023 |
Mr R Bell |
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( |
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( |
( |
2022 |
At 1 January 2022 |
Advances to director |
Repayments by director |
At 31 December 2022 |
Mr R Bell |
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( |
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( |
( |
This loan is provided interest free and is repayable on demand.
Summary of transactions with other related parties
Ultimate controlling party |
The ultimate controlling party is