Bellcorp Limited - Filleted accounts

Registered number

07752775

Bellcorp Limited

Filleted Accounts

31 August 2024

Bellcorp Limited
Registered number:		07752775
Balance Sheet
as at 31 August 2024

Notes			2024		2023
			£		£
Fixed assets
Tangible assets	3		451,830		54,112

Current assets
Stocks		624,058		494,085
Debtors	4	172,149		672,780
Cash at bank and in hand		63,105		215,113
		859,312		1,381,978

Creditors: amounts falling due within one year	5	(328,591)		(475,428)

Net current assets			530,721		906,550

Total assets less current liabilities			982,551		960,662

Creditors: amounts falling due after more than one year	6		(233,219)		(63,932)

Provisions for liabilities			(35,851)		(14,284)


Net assets			713,481		882,446

Capital and reserves
Called up share capital			100		100
Profit and loss account			713,381		882,346

Shareholder's funds			713,481		882,446

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




L Bell
Director
Approved by the board on 18 March 2025

Bellcorp Limited
Notes to the Accounts
for the year ended 31 August 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery					33% straight line
	Motor vehicles					25% straight line

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2024		2023
						Number		Number

	Average number of persons employed by the company					8		8


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 September 2023	-		28,321		103,346		131,667
	Additions	311,449		-		130,178		441,627
	At 31 August 2024	311,449		28,321		233,524		573,294

	Depreciation
	At 1 September 2023	-		23,694		53,861		77,555
	Charge for the year	-		6,705		37,204		43,909
	At 31 August 2024	-		30,399		91,065		121,464

	Net book value
	At 31 August 2024	311,449		(2,078)		142,459		451,830
	At 31 August 2023	-		4,627		49,485		54,112


	Freehold land and buildings:					2024		2023
£							£
	Historical cost					311,449		-
	Cumulative depreciation based on historical cost					-		-
						311,449		-


4	Debtors					2024		2023
						£		£

	Trade debtors					130,537		153,648
	Other debtors					41,612		519,132
						172,149		672,780


5	Creditors: amounts falling due within one year					2024		2023
						£		£

	Bank loans and overdrafts					10,000		5,000
	Obligations under finance lease and hire purchase contracts					37,339		17,778
	Trade creditors					85,700		96,237
	Corporation tax					121,567		174,904
	Other taxes and social security costs					45,077		146,844
	Other creditors					28,908		34,665
						328,591		475,428


6	Creditors: amounts falling due after one year					2024		2023
						£		£

	Bank loans					174,801		34,842
	Obligations under finance lease and hire purchase contracts					58,418		29,090
						233,219		63,932


7	Loans					2024		2023
						£		£
	Creditors include:
	Instalments falling due for payment after more than five years					126,875		-


	Secured bank loans					184,800		39,842

	[Give an indication of the nature and form of the security for the bank loans]

8	Loans to directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	L Bell
	Directors loan account included in Other creditors/(debtors), repayable on demand	506,136		(25,259)		(506,136)		(25,259)

		506,136		(25,259)		(506,136)		(25,259)


9	Controlling party

	The controlling party is L Bell by virtue of his 100% share ownership
10	Other information

	Bellcorp Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Units 4 - 5
	Pegasus, Orion Court
	Great Blakenham
	Ipswich
	IP6 0LW