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Registered number: 02379148

New Belfort Limited

FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

Prepared By:
Cunningham Grant
Chartered Accountants
Unit G6, The Granary Business Centre
Coal Road, Cupar
Fife
KY15 5YQ

New Belfort Limited

FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
DIRECTORS
Joan Finnie
Jill Edwards
SECRETARY
Joan Finnie
REGISTERED OFFICE
Advantage Business Centre
132-134 Great Ancoats Street
Manchester
M4 6DE
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 02379148
ACCOUNTANTS
Cunningham Grant
Chartered Accountants
Unit G6, The Granary Business Centre
Coal Road, Cupar
Fife
KY15 5YQ

New Belfort Limited

FINANCIAL STATEMENTS
FOR THEYEARENDED30 APRIL 2024
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

New Belfort Limited

BALANCE SHEET AT 30 April 2024
20242023
Notes££
FIXED ASSETS
Tangible assets3965,4501,086,056
CURRENT ASSETS
Debtors5165,4081,189
Cash at bank and in hand54,56821,170
219,97622,359
CREDITORS: Amounts falling due within one year6145,877137,240
NET CURRENT ASSETS / (LIABILITIES)74,099(114,881)
TOTAL ASSETS LESS CURRENT LIABILITIES1,039,549971,175
PROVISIONS FOR LIABILITIES AND CHARGES79,96077,706
NET ASSETS959,589893,469
CAPITAL AND RESERVES
Called up share capital75050
Share premium account23,90023,900
Capital redemption reserve5050
Profit and loss account935,589869,469
SHAREHOLDERS' FUNDS959,589893,469
For the year ending 30 April 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 27 January 2025 and signed on their behalf by
.............................
Joan Finnie
Director

New Belfort Limited

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2024
1. ACCOUNTING POLICIES
1a. General Information & Basis of Accounting
The company is limited by shares and incorporated in England. The address of the registered office is given in the company information on page 1 of these financial statements.
The financial statements have been prepared in accordance with Financial Reporting Standard FRS 102 including Section 1A Small Entities, the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. There were no material departures from that standard.
The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £1. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise shown.
1b. Turnover
The turnover shown in the profit and loss account represents income from let property in the year.
1c. Tangible Fixed Assets
Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation has been provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
Fixtures And Fittingsreducing balance10%
1d. Investment Properties
Investment properties are measured at fair value at each reporting date with changes in fair value recognised in net gains/(losses) on investments in the Statement of Financial Activities.
1e. Cash And Cash Equivalents
Cash and cash equivalents are basic financial instruments which include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

New Belfort Limited

1f. Financial Instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest 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 receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1g. Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued, non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.
1h. Critical Accounting Estimates And Judgements
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 where the revision affects only that period, or in the period, or in the period of the revision and future periods where the revision affects both current and future periods.
2. EMPLOYEES
20242023
No.No.
Average number of employees11

New Belfort Limited

3. TANGIBLE FIXED ASSETS
Land AndPlant and
BuildingsMachinery Etc.Total
£££
Cost
At 1 May 20231,080,00056,7741,136,774
Disposals(120,000)-(120,000)
At 30 April 2024960,00056,7741,016,774
Depreciation
At 1 May 2023-50,71850,718
For the year-606606
At 30 April 2024-51,32451,324
Net Book Amounts
At 30 April 2024960,0005,450965,450
At 30 April 20231,080,0006,0561,086,056
The investment properties were valued at fair value by the directors at 30 April 2024.
4. INVESTMENT PROPERTIES
Investment
PropertiesTotal
££
Fair value
At 1 May 20231,080,0001,080,000
Disposals(120,000)(120,000)
At 30 April 2024960,000960,000
5. DEBTORS 20242023
££
Amounts falling due within one year:
Trade debtors2,1321,189
Other debtors163,276-
165,4081,189

New Belfort Limited

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
Trade creditors-12
Taxation and social security15,6505,945
Other creditors130,227131,283
145,877137,240
7. SHARE CAPITAL 20242023
££
Allotted, issued and fully paid:
50 Ordinary shares of £1 each5050
5050
8. RELATED PARTY TRANSACTIONS
Included in creditors at the year end is a directors loan of £125,012 [2023 - £124,533). Interest of £10,000 (2023 - £10,000) was paid to the directors during the year. The loan was repaid in full after the year end.