Company registration number SC066876 (Scotland)
BELLMATIC LEISURE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JULY 2024
PAGES FOR FILING WITH REGISTRAR
BELLMATIC LEISURE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
BELLMATIC LEISURE LIMITED
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
193,182
Investments
4
103,584
296,766
Current assets
Stocks
-
1,500
Debtors
5
83,103
14,537
Cash at bank and in hand
343,713
47,320
426,816
63,357
Creditors: amounts falling due within one year
6
(211,801)
(55,546)
Net current assets
215,015
7,811
Total assets less current liabilities
215,015
304,577
Creditors: amounts falling due after more than one year
7
(8,333)
(18,333)
Provisions for liabilities
(4,180)
Net assets
206,682
282,064
Capital and reserves
Called up share capital
8
50,000
50,000
Revaluation reserve
9
137,976
Other reserves
10
7,549
Distributable profit and loss reserves
156,682
86,539
Total equity
206,682
282,064
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
BELLMATIC LEISURE LIMITED
BALANCE SHEET (CONTINUED)
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 29 April 2025 and are signed on its behalf by:
Mr P Carrigan
Director
Company Registration No. SC066876
BELLMATIC LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JULY 2024
- 3 -
1
Accounting policies
Company information
Bellmatic Leisure Limited is a private company limited by shares incorporated in Scotland. The registered office is 10/12 Boswell Square, Hillington, Glasgow, United Kingdom, G52 4BG.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of listed investments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
- over 17 years
Plant and equipment
- 25% on cost and 50% reducing balance
Fixtures and fittings
- 25% on reducing balance
Motor vehicles
- 25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
Investments are carried at fair value include listed and unlisted shares. Revaluations to Fair Value are recorded annually and reported through the income statement.
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
BELLMATIC LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JULY 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost 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.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
BELLMATIC LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JULY 2024
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
4
3
Tangible fixed assets
Freehold land and buildings
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 31 July 2023
180,000
237,593
39,550
60,335
517,478
Additions
9,930
9,930
Disposals
(180,000)
(247,523)
(39,550)
(60,335)
(527,408)
At 30 July 2024
Depreciation and impairment
At 31 July 2023
31,764
206,271
39,308
46,953
324,296
Depreciation charged in the year
2,648
9,765
46
2,542
15,001
Eliminated in respect of disposals
(34,412)
(216,036)
(39,354)
(49,496)
(339,298)
At 30 July 2024
-
-
Carrying amount
At 30 July 2024
-
-
At 30 July 2023
148,236
31,322
242
13,382
193,182
4
Fixed asset investments
2024
2023
£
£
Investments
-
103,584
BELLMATIC LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JULY 2024
4
Fixed asset investments
(Continued)
- 6 -
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 31 July 2023
103,584
Disposals
(103,584)
At 30 July 2024
-
Carrying amount
At 30 July 2024
-
At 30 July 2023
103,584
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
11,469
Other debtors
83,102
3,068
83,102
14,537
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,000
Trade creditors
5,598
Taxation and social security
67,419
22,495
Other creditors
134,382
17,453
211,801
55,546
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
8,333
18,333
BELLMATIC LEISURE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JULY 2024
- 7 -
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
50,000
50,000
50,000
50,000
9
Revaluation reserve
2024
2023
£
£
At the beginning of the year
137,976
147,804
Transfer to retained earnings
(137,976)
(9,828)
At the end of the year
137,976
10
Other reserves
2024
2023
£
£
At the beginning of the year
7,549
7,549
Non distributable profits in the year
(7,549)
-
At the end of the year
-
7,549