Bell Commercial Properties Limited 14663495 false 2023-02-15 2024-02-28 2024-02-28 The principal activity of the company is that of property investment and management. Digita Accounts Production Advanced 6.30.9574.0 true false true 14663495 2023-02-15 2024-02-28 14663495 2024-02-28 14663495 bus:Director1 1 2024-02-28 14663495 bus:Director2 1 2024-02-28 14663495 bus:OrdinaryShareClass1 2024-02-28 14663495 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-28 14663495 bus:SmallEntities 2023-02-15 2024-02-28 14663495 bus:AuditExemptWithAccountantsReport 2023-02-15 2024-02-28 14663495 bus:FullAccounts 2023-02-15 2024-02-28 14663495 bus:SmallCompaniesRegimeForAccounts 2023-02-15 2024-02-28 14663495 bus:RegisteredOffice 2023-02-15 2024-02-28 14663495 bus:Director1 2023-02-15 2024-02-28 14663495 bus:Director1 1 2023-02-15 2024-02-28 14663495 bus:Director2 2023-02-15 2024-02-28 14663495 bus:Director2 1 2023-02-15 2024-02-28 14663495 bus:OrdinaryShareClass1 2023-02-15 2024-02-28 14663495 bus:PrivateLimitedCompanyLtd 2023-02-15 2024-02-28 14663495 1 2023-02-15 2024-02-28 14663495 countries:EnglandWales 2023-02-15 2024-02-28 14663495 bus:Director1 1 2023-02-14 14663495 bus:Director2 1 2023-02-14 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14663495

Bell Commercial Properties Limited

Unaudited Financial Statements

for the Period from 15 February 2023 to 28 February 2024

 

Bell Commercial Properties Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Bell Commercial Properties Limited

(Registration number: 14663495)
Balance Sheet as at 28 February 2024

Note

2024
£

Fixed assets

 

Investment property

4

91,568

Current assets

 

Cash at bank and in hand

 

3,871

Creditors: Amounts falling due within one year

5

(103,297)

Net current liabilities

 

(99,426)

Total assets less current liabilities

 

(7,858)

Provisions for liabilities

1,395

Net liabilities

 

(6,463)

Capital and reserves

 

Called up share capital

100

Retained earnings

(6,563)

Shareholders' deficit

 

(6,463)

For the financial period ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 April 2024 and signed on its behalf by:
 

.........................................
Mr R Bell
Director

.........................................
Mrs M Bell
Director

 
     
 

Bell Commercial Properties Limited

Notes to the Unaudited Financial Statements for the Period from 15 February 2023 to 28 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
18-20 High Street
Stevenage
Hertfordshire
SG1 3EJ
England

These financial statements were authorised for issue by the Board on 18 April 2024.

2

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 £99,426 and retained losses of £6,563. The directors have pledged to continue to financially support the company for the foreseeable future. On this basis, the directors feel it is appropriate to prepare these financial statements on a going concern basis.

 

Bell Commercial Properties Limited

Notes to the Unaudited Financial Statements for the Period from 15 February 2023 to 28 February 2024

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 tentants 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 current and 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable 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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers or the directors. In determining the value, observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

 

Bell Commercial Properties Limited

Notes to the Unaudited Financial Statements for the Period from 15 February 2023 to 28 February 2024

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4

Investment properties

2024
£

Additions

91,568

At 28 February

91,568


The property was purchased in the year at its open market value in August 2023. The directors consider this to be the fair value of the property at the balance sheet date.

 

Bell Commercial Properties Limited

Notes to the Unaudited Financial Statements for the Period from 15 February 2023 to 28 February 2024

5

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Taxation and social security

80

Accruals and deferred income

1,455

Other creditors

101,762

103,297

6

Share capital

Allotted, called up and fully paid shares

 

2024

 

No.

£

Ordinary shares of £1 each

100

100

     

During the year, 100 Ordinary shares were issued at par value.

7

Related party transactions

Transactions with directors

2024

At 15 February 2023
£

Advances to director
£

Repayments by director
£

At 28 February 2024
£

Mr R Bell

Directors loan account

-

18,059

(66,948)

(48,889)

         
       

Mrs M Bell

Directors loan account

-

18,059

(66,948)

(48,889)

         
       

 

 

Bell Commercial Properties Limited

Notes to the Unaudited Financial Statements for the Period from 15 February 2023 to 28 February 2024



These loans are provided interest free and are repayable on demand.

8

Ultimate controlling party

The ultimate controlling party is Mr R Bell and Mrs M Bell, by virtue of their shareholdings.