Registered number: 08374511
BELLCAST LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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BELLCAST LIMITED
COMPANY INFORMATION
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BELLCAST LIMITED
CONTENTS
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Notes to the Financial Statements
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BELLCAST LIMITED
REGISTERED NUMBER: 08374511
BALANCE SHEET
AS AT 31 DECEMBER 2023
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Creditors: amounts falling due within one year
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Allotted, called up and fully paid share capital
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Equity shareholder's funds
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The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Page 1
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BELLCAST LIMITED
REGISTERED NUMBER: 08374511
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
The Company has opted not to file the Director's Report and Statement of Income and Retained Earnings in accordance with provisions applicable to companies subject to the small companies regime, under section 444 of the Companies Act 2006.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 September 2024.
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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BELLCAST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Bellcast Limited (company number: 08374511) is a private company limited by shares, incorporated in England and Wales. The registered office is 113 Brent Street, London, NW4 2DX. The trading address is the same as the registered office.
2.Accounting policies
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Basis of preparation of financial statements
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These financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The financial statements are prepared in GBP sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £ (GBP).
The Company has taken advantage of the exemption in Financial Reporting Standard 102, section 1A.7 from the requirement to produce a Statement of Cash Flows on the grounds that it is a small company.
The following principal accounting policies have been applied:
Turnover comprises rental and other property related income exclusive of Value Added Tax.
Turnover in respect of rental income and other recharges of property related expenditure is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding Value Added Tax.
Interest income is recognised in profit or loss using the effective interest method.
Investment properties are carried at fair value, determined annually by either external valuers or the director on the basis of open market value for its current use. No depreciation is provided in relation to investment properties. Changes in fair value are recognised in the Statement of Income and Retained Earnings.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Page 3
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BELLCAST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
2.Accounting policies (continued)
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 at bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest rate 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 due within one year are not amortised.
Impairment of financial assets
Financial assets, other than those held at fair value through the Statement of Income and Retained Earnings, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired when there is objective evidence that, as a result of one or more events that occured after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.
If there is a decrease in the impairment loss arising from an event occuring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the Statement of Income and Retained Earnings.
Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price.
Short-term creditors are measured at cost/transaction price and not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
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The average monthly number of employees, including directors, during the year was 1 (2022 - 1).
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Page 4
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BELLCAST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
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At 1 January 2023 and 31 December 2023
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The fair value of investment properties has been determined by the director of the Company, who is a chartered surveyor.
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Amounts falling due within one year
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Page 5
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