2 2 Bellshill Developments Limited NI055460 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is property investment Digita Accounts Production Advanced 6.30.9574.0 true true NI055460 2023-08-01 2024-07-31 NI055460 2024-07-31 NI055460 bus:OrdinaryShareClass1 2024-07-31 NI055460 core:CurrentFinancialInstruments 2024-07-31 NI055460 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 NI055460 core:Non-currentFinancialInstruments 2024-07-31 NI055460 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 NI055460 core:FurnitureFittingsToolsEquipment 2024-07-31 NI055460 core:MotorVehicles 2024-07-31 NI055460 core:OtherPropertyPlantEquipment 2024-07-31 NI055460 bus:SmallEntities 2023-08-01 2024-07-31 NI055460 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 NI055460 bus:FilletedAccounts 2023-08-01 2024-07-31 NI055460 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 NI055460 bus:RegisteredOffice 2023-08-01 2024-07-31 NI055460 bus:CompanySecretaryDirector1 2023-08-01 2024-07-31 NI055460 bus:Director2 2023-08-01 2024-07-31 NI055460 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 NI055460 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 NI055460 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 NI055460 core:MotorCars 2023-08-01 2024-07-31 NI055460 core:MotorVehicles 2023-08-01 2024-07-31 NI055460 core:OfficeEquipment 2023-08-01 2024-07-31 NI055460 core:OtherPropertyPlantEquipment 2023-08-01 2024-07-31 NI055460 core:PlantMachinery 2023-08-01 2024-07-31 NI055460 countries:NorthernIreland 2023-08-01 2024-07-31 NI055460 2023-07-31 NI055460 core:FurnitureFittingsToolsEquipment 2023-07-31 NI055460 core:MotorVehicles 2023-07-31 NI055460 core:OtherPropertyPlantEquipment 2023-07-31 NI055460 2022-08-01 2023-07-31 NI055460 2023-07-31 NI055460 bus:OrdinaryShareClass1 2023-07-31 NI055460 core:CurrentFinancialInstruments 2023-07-31 NI055460 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 NI055460 core:Non-currentFinancialInstruments 2023-07-31 NI055460 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 NI055460 core:FurnitureFittingsToolsEquipment 2023-07-31 NI055460 core:MotorVehicles 2023-07-31 NI055460 core:OtherPropertyPlantEquipment 2023-07-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: NI055460

Bellshill Developments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Bellshill Developments Limited

(Registration number: NI055460)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,500,000

1,500,000

Tangible assets

5

12,020

15,554

 

1,512,020

1,515,554

Current assets

 

Debtors

6

4,944

3,652

Cash at bank and in hand

 

6,110

-

 

11,054

3,652

Creditors: Amounts falling due within one year

7

(83,009)

(103,797)

Net current liabilities

 

(71,955)

(100,145)

Total assets less current liabilities

 

1,440,065

1,415,409

Creditors: Amounts falling due after more than one year

7

(461,047)

(491,091)

Provisions for liabilities

(39,786)

(40,670)

Net assets

 

939,232

883,648

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

939,230

883,646

Shareholders' funds

 

939,232

883,648

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

Bellshill Developments Limited

(Registration number: NI055460)
Balance Sheet as at 31 July 2024

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved and authorised by the Board on 11 December 2024 and signed on its behalf by:
 

.........................................
Mr John Mark Fulton
Company secretary and director

.........................................
Mr John Derek Fulton
Director

 

Bellshill Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 91 Moneymore Road, Magherafelt, Co. Londonderry, BT45 6HH.

These financial statements were authorised for issue by the Board on 11 December 2024.

2

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 accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Rental income is recognised on a straight line basis over the lease term.

Tax

The tax expense for the period comprises current 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.

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.

 

Bellshill Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the company directors. Changes in fair value are recognised in profit or loss.

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 over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% per year reducing balance

Motor vehicles

25% per year reducing balance

Office equipment

25% per year reducing balance

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.

Short term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Financial assets, including debtors, are reviewed at the reporting date to determine if there is any evidence of potential impairment. Any losses arising from impairment are recognised in the income statement in administrative expenses.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Bellshill Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

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.

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.

3

Staff numbers

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

4

Investment properties

2024
£

At 31 July 2024

1,500,000

The Directors had the Company's investment property revalued in the year ending 31st July 2023. The Directors consider this to still be the property's fair value.

 

Bellshill Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

5

Tangible assets

Office equipment
 £

Motor vehicles
 £

Plant and machinery
 £

Total
£

Cost or valuation

At 1 August 2023

3,182

7,500

66,520

77,202

At 31 July 2024

3,182

7,500

66,520

77,202

Depreciation

At 1 August 2023

3,161

6,165

52,322

61,648

Charge for the year

5

334

3,195

3,534

At 31 July 2024

3,166

6,499

55,517

65,182

Carrying amount

At 31 July 2024

16

1,001

11,003

12,020

At 31 July 2023

21

1,335

14,198

15,554

 

Bellshill Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

4,944

3,652

 

4,944

3,652

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Loans and borrowings

9

6,673

25,310

Trade creditors

 

45

324

Directors' loan accounts

 

24,000

24,000

Taxation and social security

 

2,162

2,116

Amount due to associated company

 

24,000

24,000

Other creditors

 

19,604

21,522

Accruals and deferred income

 

6,525

6,525

 

83,009

103,797

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Loans and borrowings

9

6,780

13,453

Amounts due to associated company

 

54,288

54,288

Directors' loan accounts

 

399,979

423,350

 

461,047

491,091

 

Bellshill Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

6,780

13,453

2024
£

2023
£

Current loans and borrowings

Bank borrowings

6,673

25,310

Of the total bank borrowings at the balance sheet date, £NIL (2023: £18,802) was secured by a charge over the Company's property and £13,453 (2022: £19,961) was secured by the UK government under the Bounce Back Loan scheme.
 

10

Related party transactions

Included in creditors is an amount of £78,288 (2023: £78,288) which is due to J.D. Fulton (Tullylinkesay Mills) Limited.

The following balances owed to the Directors were outstanding at the year end:

2024
 £

2023
 £

Directors' loan account

(423,979)

(447,350)