Belveo UK Ltd 13922737 false 2023-03-01 2023-09-30 2023-09-30 The principal activity of the company is retail sales of garden parasols and similar items by mail order and internet. Digita Accounts Production Advanced 6.30.9574.0 true true 13922737 2023-03-01 2023-09-30 13922737 2023-09-30 13922737 bus:OrdinaryShareClass1 2023-09-30 13922737 core:CurrentFinancialInstruments 2023-09-30 13922737 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 13922737 bus:SmallEntities 2023-03-01 2023-09-30 13922737 bus:AuditExemptWithAccountantsReport 2023-03-01 2023-09-30 13922737 bus:FullAccounts 2023-03-01 2023-09-30 13922737 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2023-09-30 13922737 bus:RegisteredOffice 2023-03-01 2023-09-30 13922737 bus:Director1 2023-03-01 2023-09-30 13922737 bus:OrdinaryShareClass1 2023-03-01 2023-09-30 13922737 bus:PrivateLimitedCompanyLtd 2023-03-01 2023-09-30 13922737 1 2023-03-01 2023-09-30 13922737 1 2023-03-01 2023-09-30 13922737 countries:AllCountries 2023-03-01 2023-09-30 13922737 2022-02-17 2023-02-28 13922737 2023-02-28 13922737 bus:OrdinaryShareClass1 2023-02-28 13922737 core:CurrentFinancialInstruments 2023-02-28 13922737 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13922737

Belveo UK Ltd

Annual Report and Unaudited Financial Statements

for the Period from 1 March 2023 to 30 September 2023

Pages for Filing with Registrar

 

Belveo UK Ltd

(Registration number: 13922737)
Balance Sheet as at 30 September 2023

Note

30 September
2023
£

28 February
2023
£

Current assets

 

Stock

5

53,745

-

Debtors

6

149,605

15,857

Cash at bank and in hand

 

73,942

15,668

 

277,292

31,525

Creditors: Amounts falling due within one year

7

(257,216)

(70,198)

Net assets/(liabilities)

 

20,076

(38,673)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

19,976

(38,773)

Shareholders' funds/(deficit)

 

20,076

(38,673)

For the financial period ending 30 September 2023 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.

 

Belveo UK Ltd

(Registration number: 13922737)
Balance Sheet as at 30 September 2023

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.

Approved and authorised by the Board on 25 September 2024 and signed on its behalf by:
 

.........................................
E G Sartorius
Director

 

Belveo UK Ltd

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 30 September 2023

1

General information

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

The address of its registered office is:
114 St Martin's Lane
Covent Garden
London
WC2N 4BE
England

Principal activity

The principal activity of the Company is retail sales of garden parasols and similar items by mail order and internet.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. This seven month period of accounts have been prepared to bring the company into line with group reporting requirements.

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.

Going concern
The financial statements have been prepared on a going concern basis.

Disclosure of long or short period

The company presents its financial statements for the short period from 1 March 2023 to 30 September 2023. This is to align the company's accounting reference date with that of its parent company. The company will present financial statements for the year ended 30 September in subsequent years.

 

Belveo UK Ltd

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 30 September 2023

Turnover recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods 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.

Foreign currency transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Tax

The tax expense for the period comprises current 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.

Stock

Stock are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stock are assessed for impairment. If stock are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Belveo UK Ltd

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 30 September 2023

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

 

Belveo UK Ltd

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 30 September 2023

3

Significant judgements and estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Directors' opinion there are no significant judgements or key sources of estimation uncertainty.

4

Staff numbers

The average number of persons employed by the Company (including directors) during the period, was 1 (2023 - 1).

5

Stock

30 September
2023
£

28 February
2023
£

Stock

53,745

-

6

Debtors

Note

30 September
2023
£

28 February
2023
£

Trade debtors

 

-

1,514

Amounts owed by group undertakings and undertakings in which the Company has a participating interest

149,605

-

Other debtors

 

-

14,343

 

149,605

15,857

 

Belveo UK Ltd

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 30 September 2023

7

Creditors

Creditors: amounts falling due within one year

30 September
2023
£

28 February
2023
£

Due within one year

 

Trade creditors

 

20,934

2,927

Amounts owed to group undertakings and undertakings in which the company has a participating interest

24,282

35,247

Taxation and social security

 

13,704

-

Other creditors

 

198,296

32,024

 

257,216

70,198

8

Share capital

Allotted, called up and fully paid shares

 

30 September
2023

28 February
2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

9

Dividends

There were no dividends paid or proposed in the current or prior period.

10

Parent and ultimate parent undertaking

The Company's immediate parent is MRJ Concept, incorporated in France.

  These financial statements are available upon request from 170 Allée de L'Ecopark, 59118 Wambrechies, France.