Belgrave Mews Property Management Limited 13855126 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is Residents Property Management. Digita Accounts Production Advanced 6.30.9574.0 true true 13855126 2023-02-01 2024-01-31 13855126 2024-01-31 13855126 core:CurrentFinancialInstruments 2024-01-31 13855126 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 13855126 bus:SmallEntities 2023-02-01 2024-01-31 13855126 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 13855126 bus:FullAccounts 2023-02-01 2024-01-31 13855126 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 13855126 bus:RegisteredOffice 2023-02-01 2024-01-31 13855126 bus:Director1 2023-02-01 2024-01-31 13855126 bus:Director2 2023-02-01 2024-01-31 13855126 bus:Director3 2023-02-01 2024-01-31 13855126 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13855126 countries:EnglandWales 2023-02-01 2024-01-31 13855126 2022-02-01 2023-01-31 13855126 2023-01-31 13855126 core:CurrentFinancialInstruments 2023-01-31 13855126 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 iso4217:GBP xbrli:pure

Registration number: 13855126

Prepared for the registrar

Belgrave Mews Property Management Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Belgrave Mews Property Management Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Belgrave Mews Property Management Limited

Company Information

Directors

Mr Jack O'Byrne

Mrs Tanya Suleiman

Mr Oliver Hughes

Registered office

Hazlewoods LLP
Staverton Court
Staverton
Cheltenham
England
GL51 0UX

Accountants

Hazlewoods LLP
Staverton Court
Staverton
Cheltenham
GL51 0UX

 

Belgrave Mews Property Management Limited

(Registration number: 13855126)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

54

-

Cash at bank and in hand

 

15

-

 

69

-

Creditors: Amounts falling due within one year

5

(300)

-

Net liabilities

 

(231)

-

Capital and reserves

 

Profit and loss account

(231)

-

Shareholders' deficit

 

(231)

-

For the financial year ending 31 January 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 year 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 30 October 2024 and signed on its behalf by:
 


Mr Jack O'Byrne
Director

 

Belgrave Mews Property Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 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:
Hazlewoods LLP
Staverton Court
Staverton
Cheltenham
England
GL51 0UX

 

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 for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company is reliant on the continued support from the director's via their loans. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements

No significant judgements have been made by management in preparing these financial statements.

 

Belgrave Mews Property Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

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.

Trade 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. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. 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 debtors.

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 initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Belgrave Mews Property Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 2).

 

4

Debtors

2024
 £

Prepayments

54

 

54

 

5

Creditors

Note

2024
 £

Due within one year

 

Accrued expenses

 

300