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REGISTERED NUMBER: 03062588 (England and Wales)



















BELLWAY VENTURES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






BELLWAY VENTURES LIMITED (REGISTERED NUMBER: 03062588)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


BELLWAY VENTURES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: Mrs S R Klein





SECRETARY: Mr C M Rubin





REGISTERED OFFICE: 5a Fountayne Road
London
N16 7EA





REGISTERED NUMBER: 03062588 (England and Wales)





ACCOUNTANTS: Sugarwhite Meyer Accountants Ltd
First Floor
94 Stamford Hill
London
N16 6XS

BELLWAY VENTURES LIMITED (REGISTERED NUMBER: 03062588)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 27 34
Investment property 6 1,000,000 1,000,000
1,000,027 1,000,034

CURRENT ASSETS
Debtors 7 547,857 547,857
Cash at bank 429 3,603
548,286 551,460
CREDITORS
Amounts falling due within one year 8 48,971 45,407
NET CURRENT ASSETS 499,315 506,053
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,499,342

1,506,087

CREDITORS
Amounts falling due after more than one
year

9

(561,095

)

(561,052

)

PROVISIONS FOR LIABILITIES 11 (197,492 ) (199,187 )
NET ASSETS 740,755 745,848

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 12 696,394 696,394
Retained earnings 44,261 49,354
740,755 745,848

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BELLWAY VENTURES LIMITED (REGISTERED NUMBER: 03062588)

BALANCE SHEET - continued
30 APRIL 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 November 2024 and were signed by:





Mrs S R Klein - Director


BELLWAY VENTURES LIMITED (REGISTERED NUMBER: 03062588)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Bellway Ventures Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on the historical cost basis, as modified to include investment properties measured at fair value through profit or loss.

Significant judgements and estimates
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. The estimates and underlying assumptions are reviewed on an ongoing basis.

Turnover
Turnover is recognised at the fair value of the consideration receivable in respect of services provided in the normal course of business. The turnover of the company is represented by rents and charges receivable in respect of the company's investment portfolio.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. It is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


BELLWAY VENTURES LIMITED (REGISTERED NUMBER: 03062588)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 May 2023
and 30 April 2024 10,895
DEPRECIATION
At 1 May 2023 10,861
Charge for year 7
At 30 April 2024 10,868
NET BOOK VALUE
At 30 April 2024 27
At 30 April 2023 34

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 1,000,000
NET BOOK VALUE
At 30 April 2024 1,000,000
At 30 April 2023 1,000,000

The fair value of the investment properties has been arrived at on the basis of a valuation carried out by the company's director who has the experience and expertise required to undertake such an exercise. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties in the same location.

The historical cost of investment properties at 30 April 2024 is £98,315.

BELLWAY VENTURES LIMITED (REGISTERED NUMBER: 03062588)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 547,857 547,857

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 48,971 45,407

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 561,095 561,052

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more than 5 years by
non-instalments

561,095

561,052

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 561,095 561,052

The bank loan is secured by a legal charge over the company's investment property.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 197,492 199,187

Deferred
tax
£   
Balance at 1 May 2023 199,187
Credit to Profit and Loss Account during year (1,695 )
Balance at 30 April 2024 197,492

Deferred tax arises from the revaluation of investment properties, reduced by the availability of tax losses carried forward.

BELLWAY VENTURES LIMITED (REGISTERED NUMBER: 03062588)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

12. RESERVES
Fair
value
reserve
£   
At 1 May 2023
and 30 April 2024 696,394

13. RELATED PARTY DISCLOSURES

Other debtors include amounts aggregating £547,857 (2023: £547,857) due from a related company under common control.

Other creditors include amounts aggregating £8,000 (2023: £5,000) due to a related company under common control.