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Registration number: 13361235

Belgravia Property Services Ltd

Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Belgravia Property Services Ltd

(Registration number: 13361235)

Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

230

494

Current assets

 

Stocks

58,557

-

Debtors

4

773,465

325,581

Cash at bank and in hand

 

281,896

883,547

 

1,113,918

1,209,128

Creditors: Amounts falling due within one year

5

(54,915)

(218,992)

Net current assets

 

1,059,003

990,136

Total assets less current liabilities

 

1,059,233

990,630

Provisions for liabilities

(58)

(124)

Net assets

 

1,059,175

990,506

Capital and reserves

 

Called up share capital

1

1

Retained earnings

1,059,174

990,505

Shareholders' funds

 

1,059,175

990,506

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 Director's Report and the Profit and Loss Account has been taken.

These financial statements, which 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 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the director on 30 January 2025
 

.........................................

Mr D J Buckley

Director

 

Belgravia Property Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

Accounting policies

Statutory information

Belgravia Property Services Ltd is a private company, limited by shares, domiciled in England and Wales, company number 13361235. The registered office is at 20-22, Wenlock Road, London, N1 7GU.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

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.

Tax

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 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.

 

Belgravia Property Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

1

Accounting policies (continued)

Tangible 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:

Asset class

Depreciation method and rate

Office equipment

3 year straight line

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments


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 in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

2

Staff numbers

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

 

Belgravia Property Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

3

Tangible assets

Office equipment
£

Total
£

Cost

At 1 May 2023

791

791

At 30 April 2024

791

791

Depreciation

At 1 May 2023

297

297

Charge for the year

264

264

At 30 April 2024

561

561

Carrying amount

At 30 April 2024

230

230

At 30 April 2023

494

494

4

Debtors

Current

2024
£

2023
£

Trade debtors

 

150,000

7,032

Amounts owed by related parties

592,017

313,519

Prepayments

 

348

365

Other debtors

 

31,100

4,665

   

773,465

325,581

5

Creditors

2024
£

2023
£

Due within one year

Trade creditors

31,345

(468)

Taxation and social security

21,745

217,668

Accruals and deferred income

1,825

1,550

Other creditors

-

242

54,915

218,992