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Registration number: 13675457

Belfield Homes (Ampfield) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2024

 

Belfield Homes (Ampfield) Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Belfield Homes (Ampfield) Limited

(Registration number: 13675457)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Current assets

 

Stocks

4

54,804

53,566

Debtors

5

36,000

28,000

Cash at bank and in hand

 

233

795

 

91,037

82,361

Creditors: Amounts falling due within one year

6

(90,315)

(81,415)

Total assets less current liabilities

 

722

946

Creditors: Amounts falling due after more than one year

6

(17,000)

(6,000)

Net liabilities

 

(16,278)

(5,054)

Capital and reserves

 

Called up share capital

300

300

Retained earnings

(16,578)

(5,354)

Shareholders' deficit

 

(16,278)

(5,054)

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

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.

These financial statements 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.

These financial statements have been 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.

Approved and authorised by the Board on 31 March 2025 and signed on its behalf by:
 

Mr G Heffer
Director

   
     
 

Belfield Homes (Ampfield) Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1st Floor
153 Commercial Road
Poole
Dorset
BH14 0JJ

These financial statements were authorised for issue by the Board on 31 March 2025.

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.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis. The directors have confirmed
their willingness to continue to support the company to enable it to pay its debts as they fall due.

 

Belfield Homes (Ampfield) Limited

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

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.

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.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

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 stocks 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.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

 

Belfield Homes (Ampfield) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 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.

3

Staff numbers

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

4

Stocks

2024
£

2023
£

Work in progress

54,804

53,566

5

Debtors

2024
£

2023
£

Trade debtors

36,000

28,000

36,000

28,000

6

Creditors

Due within one year

Note

2024
£

2023
£

 

Amounts due to related parties

7

52,715

51,345

Accruals

 

37,600

30,070

 

90,315

81,415

Due after one year

 

Other non-current financial liabilities

 

17,000

6,000

7

Related party transactions

Summary of transactions with other related parties

Other related parties are considered to be companies under common control. During the year the company received loans from other related parties. The loans are interest free and repayable on demand.
 

 

Belfield Homes (Ampfield) Limited

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

Loans from related parties

2024

Other related parties
£

Total
£

At start of period

57,345

57,345

Advanced

12,370

12,370

At end of period

69,715

69,715

2023

Other related parties
£

Total
£

At start of period

10,449

10,449

Advanced

46,896

46,896

At end of period

57,345

57,345