Company Registration No. 14539632 (England and Wales)
BELMONT 2022 LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
BELMONT 2022 LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
BELMONT 2022 LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
3,502
31,116
Cash at bank and in hand
66,404
461,503
69,906
492,619
Creditors: amounts falling due within one year
5
(3,262,960)
(3,575,479)
Net current liabilities
(3,193,054)
(3,082,860)
Capital and reserves
Called up share capital
10,000
10,000
Profit and loss reserves
(3,203,054)
(3,092,860)
Total equity
(3,193,054)
(3,082,860)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 13 May 2025 and are signed on its behalf by:
C D Payne
Director
Company Registration No. 14539632
BELMONT 2022 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
Belmont 2022 Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4-7 Great Pulteney Street, London, United Kingdom, W1F 9NA.
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. The principal accounting policies adopted are set out below.
1.2
Going concern
A connected beneficiary has provided financial support to the company should it be required to meet its liabilities as they fall due. Therefore, atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Reporting period
The comparative period figures relate to the period 13 December 2022 to 31 December 2023. Therefore, the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets that have an indefinite useful life or intangible assets which are under development are not subject to amortisation and are tested annually for impairment.
Impairment is recognised in the profit and loss account whenever the carrying amount of an asset exceeds its recoverable amount.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
BELMONT 2022 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
Classification of financial liabilities
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 company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
1.6
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.
1.7
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The company did not have any employees either during the year or in the previous period.
BELMONT 2022 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
3
Intangible fixed assets
Mobile applications under construction
£
Cost
At 1 January 2024 and 31 December 2024
3,013,318
Amortisation and impairment
At 1 January 2024 and 31 December 2024
3,013,318
Carrying amount
At 31 December 2024
At 31 December 2023
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
3,502
31,116
5
Creditors: amounts falling due within one year
2024
2023
£
£
Amount owed to parent undertakings
3,251,210
3,551,479
Accruals and deferred income
11,750
24,000
3,262,960
3,575,479
6
Parent company
The immediate parent company is Chaotic Good Capital AG. The ultimate parent entity is Claymore Investment Trust and, as at 31 December 2024, Dr Frank Zindel was the person with significant control.
The parent entity does not prepare accounts or consolidated accounts that are available in the public domain.
7
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
The senior statutory auditor was Simon Mott-Cowan.
The auditor was HW Fisher Audit.