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REGISTERED NUMBER: 10480247 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

BELUGA GROUP LTD

BELUGA GROUP LTD (REGISTERED NUMBER: 10480247)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


BELUGA GROUP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Mr P A Duffy
Miss N A Duffy





REGISTERED OFFICE: Communico House
Vale Road
Heaton Mersey
Stockport
Cheshire
SK4 3QR





REGISTERED NUMBER: 10480247 (England and Wales)





ACCOUNTANTS: Allens Accountants Limited
Chartered Accountants
123 Wellington Road South
Stockport
Cheshire
SK1 3TH

BELUGA GROUP LTD (REGISTERED NUMBER: 10480247)

BALANCE SHEET
29 FEBRUARY 2024

29/2/24 28/2/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,119 18

CURRENT ASSETS
Stocks 857,750 1,374,975
Debtors 5 1,726,980 1,117,815
Cash at bank 82 38,607
2,584,812 2,531,397
CREDITORS
Amounts falling due within one year 6 2,524,901 2,462,072
NET CURRENT ASSETS 59,911 69,325
TOTAL ASSETS LESS CURRENT
LIABILITIES

61,030

69,343

CREDITORS
Amounts falling due after more than one
year

7

25,115

35,050
NET ASSETS 35,915 34,293

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 35,914 34,292
SHAREHOLDERS' FUNDS 35,915 34,293

BELUGA GROUP LTD (REGISTERED NUMBER: 10480247)

BALANCE SHEET - continued
29 FEBRUARY 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 November 2024 and were signed on its behalf by:





Mr P A Duffy - Director


BELUGA GROUP LTD (REGISTERED NUMBER: 10480247)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Beluga Group Ltd 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Going concern
The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that he will continue to provide financial support where necessary. The director has reached this conclusion giving due consideration to the projected future performance of the company and any potential risk that might impact the company's ability to meet its required solvency levels. For this reason, it is deemed appropriate to prepare the financial statements on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred 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.

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.

BELUGA GROUP LTD (REGISTERED NUMBER: 10480247)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 899
Additions 1,188
At 29 February 2024 2,087
DEPRECIATION
At 1 March 2023 881
Charge for year 87
At 29 February 2024 968
NET BOOK VALUE
At 29 February 2024 1,119
At 28 February 2023 18

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Trade debtors 879,763 32,766
Other debtors 847,217 1,085,049
1,726,980 1,117,815

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Bank loans and overdrafts 1,771,226 2,195,107
Trade creditors 493,121 202,828
Taxation and social security 239,509 37,141
Other creditors 21,045 26,996
2,524,901 2,462,072

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29/2/24 28/2/23
£    £   
Bank loans 25,115 35,050

BELUGA GROUP LTD (REGISTERED NUMBER: 10480247)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

29/2/24 28/2/23
£    £   
Bank loans 1,736,608 2,181,941

The above loans are secured by way of a fixed and floating charge over all assets of the company. Mr P A Duffy has also provided a personal guarantee.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29/2/24 28/2/23
value: £    £   
1 Ordinary £1 1 1