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Registered Number: 04656694
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 29 February 2024

for

BELLE VUE SOUTH WALES LTD

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 23,624    30,088 
Investments 5 396,273    378,712 
419,897    408,800 
Current assets      
Stocks 6 800    800 
Debtors 7 65,614    70,133 
Cash at bank and in hand 997,477    829,010 
1,063,891    899,943 
Creditors: amount falling due within one year (111,750)   (90,914)
Net current assets 952,141    809,029 
 
Total assets less current liabilities 1,372,038    1,217,829 
Provisions for liabilities 8 (5,676)   (4,703)
Net assets 1,366,362    1,213,126 
 

Capital and reserves
     
Called up share capital 9 100    100 
Profit and loss account 1,366,262    1,213,026 
Shareholders' funds 1,366,362    1,213,126 
 


For the year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 26 November 2024 and were signed on its behalf by:


-------------------------------
Ravindra Narayan
Director
1
General Information
Belle Vue South Wales Ltd is a private company, limited by shares, registered in England and Wales, registration number 04656694, registration address 91 Lascelles Drive, Pontprennau, Cardiff, CF23 8NZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant 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 compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

The financial statements are prepared in sterling which is the functional currency of the company.
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 companys 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.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Taxation
The tax expense for the period comprises current and deferred 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.
Deferred taxation
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Dividends
Dividend distribution to the companys shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the companys interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.


Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:


Asset class                               Amortisation method and rate
Goodwill                                   20 years

Tangible fixed assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Land and buildings 15 years
Plant and machinery etc 15% straight line basis
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks 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, stocks are assessed for impairment. If stocks 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.
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.
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. 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.

Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
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 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.
2.

Average number of employees

Average number of employees during the year was 37 (2023 : 40).
3.

Intangible fixed assets

Cost Other intangible assets   Total
  £   £
At 01 March 2023 150,000    150,000 
Additions  
Disposals  
At 29 February 2024 150,000    150,000 
Amortisation
At 01 March 2023 150,000    150,000 
Charge for year  
On disposals  
At 29 February 2024 150,000    150,000 
Net book values
At 29 February 2024  
At 28 February 2023  


4.

Tangible fixed assets

Cost or valuation Land and buildings   Plant and machinery etc   Total
  £   £   £
At 01 March 2023 6,348    165,621    171,969 
Additions    
Disposals    
At 29 February 2024 6,348    165,621    171,969 
Depreciation
At 01 March 2023 1,693    140,188    141,881 
Charge for year 423    6,041    6,464 
On disposals    
At 29 February 2024 2,116    146,229    148,345 
Net book values
Closing balance as at 29 February 2024 4,232    19,392    23,624 
Opening balance as at 01 March 2023 4,655    25,433    30,088 

Included within the net book value of land and buildings above is £4,232 (2023 - £4,655) in respect of short leasehold land and buildings.

5.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 March 2023 378,712    378,712 
Additions 17,561    17,561 
Transfer to/from tangible fixed assets  
Disposals  
At 29 February 2024 396,273    396,273 

6.

Stocks

2024
£
  2023
£
Finished Goods 800    800 
800    800 

7.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 57,022    45,839 
Other Debtors 8,592    24,294 
65,614    70,133 

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 5,676    4,703 
5,676    4,703 

9.

Share Capital

Authorised
100 Ordinary shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

2