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REGISTERED NUMBER: 04065413 (England and Wales)















AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

BELLE COACHWORKS LIMITED

BELLE COACHWORKS LIMITED (REGISTERED NUMBER: 04065413)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Statement of Financial Position 1

Notes to the Financial Statements 2 to 8


BELLE COACHWORKS LIMITED (REGISTERED NUMBER: 04065413)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £   
FIXED ASSETS
Tangible assets 5 100,183 116,643

CURRENT ASSETS
Stocks 688,639 756,433
Debtors 6 827,197 484,087
Cash at bank and in hand 236,882 280,545
1,752,718 1,521,065
CREDITORS
Amounts falling due within one year 7 (504,793 ) (541,227 )
NET CURRENT ASSETS 1,247,925 979,838
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,348,108

1,096,481

CREDITORS
Amounts falling due after more than one
year

8

(6,109

)

(16,119

)

PROVISIONS FOR LIABILITIES (27,563 ) (31,838 )
NET ASSETS 1,314,436 1,048,524

CAPITAL AND RESERVES
Called up share capital 5,002 5,002
Share premium 350,678 350,678
Retained earnings 958,756 692,844
1,314,436 1,048,524

The 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 April 2025 and were signed on its behalf by:





D Zhang - Director


BELLE COACHWORKS LIMITED (REGISTERED NUMBER: 04065413)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Belle Coachworks Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04065413

Registered office: 28 Pinbush Road
Lowestoft
Suffolk
NR33 7NL

The principal activity of the company is the manufacture of bodies (coachwork) for motor vehicles (except caravans).

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling (£) which is also the functional currency.

BELLE COACHWORKS LIMITED (REGISTERED NUMBER: 04065413)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

SIGNIFICANT JUDGEMENTS AND ESTIMATES
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reports. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Judgements

The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are set out in the policies below:

There are no judgements included within the financial statements.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

As described in the accounting policies of the financial statements, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.

The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. See debtors note for the net carrying amount of the debtors.

The company manufactures and supplies bodies (coachwork) for motor vehicles (except caravans). Given the volume of stock held it is necessary to consider the recoverability of the cost of stock and the associated provision required. When calculating the stock provision, management considers the nature and condition of the stock, as well as applying assumptions around anticipated saleability of the stock.

GOING CONCERN
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

REVENUE RECOGNITION
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Consideration is recognised on completion of the build project.

BELLE COACHWORKS LIMITED (REGISTERED NUMBER: 04065413)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

TANGIBLE FIXED ASSETS
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and Fittings - 20 % on reducing balance
Plant and Machinery - 20 % on reducing balance
Motor Vehicles - 25 % on reducing balance
Computer Equipment - 20 % on reducing balance

STOCKS
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

BELLE COACHWORKS LIMITED (REGISTERED NUMBER: 04065413)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


BELLE COACHWORKS LIMITED (REGISTERED NUMBER: 04065413)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued
DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

EMPLOYEE BENEFITS
The company provides a range of benefits to employees.

Short term benefits, including holiday pay, are recognised as an expenses in the profit and loss account in the period in which they are incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 27 ) .

4. AUDITORS' REMUNERATION
31.12.24 31.12.23
£    £   
Fees payable to the company's auditors for the audit of the
company's financial statements

19,225

15,000

BELLE COACHWORKS LIMITED (REGISTERED NUMBER: 04065413)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2024 524,962 130,248 51,836 87,006 794,052
Additions 5,903 - - 2,438 8,341
At 31 December 2024 530,865 130,248 51,836 89,444 802,393
DEPRECIATION
At 1 January 2024 446,090 117,001 48,133 66,185 677,409
Charge for year 16,533 2,649 926 4,693 24,801
At 31 December 2024 462,623 119,650 49,059 70,878 702,210
NET BOOK VALUE
At 31 December 2024 68,242 10,598 2,777 18,566 100,183
At 31 December 2023 78,872 13,247 3,703 20,821 116,643

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 778,519 449,609
Other debtors 2,164 1,205
Prepayments 46,514 33,273
827,197 484,087

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 9,521 9,286
Trade creditors 278,218 438,745
Amounts owed to group undertakings 811 -
Tax 72,593 5,366
Social security and other taxes 12,531 10,490
VAT 108,557 44,078
Other creditors 3,175 13,840
Accruals and deferred income 19,387 19,422
504,793 541,227

Amounts owed to group undertakings are unsecured, interest free and are repayable on demand.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Bank loans - 1-2 years 6,109 16,119

BELLE COACHWORKS LIMITED (REGISTERED NUMBER: 04065413)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


9. LEASING AGREEMENTS
31.12.24 31.12.23
£    £   
Within one year 5,531 5,531
Between one and five years 11,988 17,519
17,519 23,050

10. SECURED DEBTS

There is a fixed and floating charge dated 9 August 2022 over the property or undertaking of the company in favour of Martin James Shreeve and Daniel James Shreeve.

There is a fixed and floating charge dated 17 October 2022 over the property or undertaking of the company in favour of Martin James Shreeve and Daniel James Shreeve.

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Helen Tidyman (Senior Statutory Auditor)
for and on behalf of Sumer Auditco Limited

12. RELATED PARTY DISCLOSURES

Details of transactions between fellow group companies have not been disclosed in line with paragraph 33.1A of FRS 102.

13. POST BALANCE SHEET EVENTS

There were no material events up to the date of approval of the financial statement by the board.

14. ULTIMATE CONTROLLING PARTY

The company is a 100% owned subsidiary of Belle Coachworks Holdings Limited.

There is no one controlling party.