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Registered Number: 13642129
England and Wales

 

 

 

BELLES PROPERTIES LTD



Unaudited Financial Statements
 


Period of accounts

Start date: 01 October 2023

End date: 30 September 2024
Directors Caroline Ann Lewis
Andrew Dane Lewis
Registered Number 13642129
Registered Office 71-72 Shelton Street
London
England
WC2H 9JQ
Accountants aa Chartered Accountants
5 Blenheim Court
Peppercorn Close
Peterborough
United Kingdom
PE1 2DU
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 30 September 2024
Principal activities
Principal activity of the company during the financial year was of Buying and selling of own real estate & Other letting and operating of own or leased real estate.
Directors
The directors who served the company throughout the year were as follows:
Caroline Ann Lewis
Andrew Dane Lewis
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to :

  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the companys transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Caroline Ann Lewis
Director

Date approved: 02 June 2025
2
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Belles Properties Ltd for the year ended 30 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Belles Properties Ltd for the year ended 30 September 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance

This report is made solely to the Board of Directors of Belles Properties Ltd, as a body, in accordance with the terms of our engagement letter dated 02 June 2025. Our work has been undertaken solely to prepare for your approval the accounts of Belles Properties Ltd and state those matters that we have agreed to state to the Board of Directors of Belles Properties Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Belles Properties Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Belles Properties Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Belles Properties Ltd. You consider that Belles Properties Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Belles Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts for the period ended
30 September 2024



....................................................
aa Chartered Accountants
5 Blenheim Court
Peppercorn Close
Peterborough
United Kingdom
PE1 2DU
02 June 2025
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 706,030    645,842 
706,030    645,842 
Current assets      
Stocks 5 78,549    78,574 
Debtors 6 2,300   
Cash at bank and in hand 280    2,781 
81,129    81,355 
Creditors: amount falling due within one year 7 (301,865)   (297,278)
Net current assets (220,736)   (215,923)
 
Total assets less current liabilities 485,294    429,919 
Creditors: amount falling due after more than one year 8 (489,089)   (489,093)
Provisions for liabilities 9 (11,680)   (245)
Net assets (15,475)   (59,419)
 

Capital and reserves
     
Called up share capital 10 2    2 
Reserves 11 48,962   
Profit and loss account (64,439)   (59,421)
Shareholders' funds (15,475)   (59,419)
 


For the year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 02 June 2025 and were signed on its behalf by:


-------------------------------
Caroline Ann Lewis
Director
4
General Information
Belles Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 13642129, registration address 71-72 Shelton Street, London, England, WC2H 9JQ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they 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.
Turnover
Turnover comprises rental income.
100% if the income is generated from the related party Belles Property Services Ltd company registration 13828302, both companies are controlled by the same directors
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 20% Reducing Balance
Computer Equipment 20% Reducing Balance
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
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.
2.

Average number of employees including directors

Average number of employees during the year was 2 (2023 : 2).
3.

Financial Commitments, Guarantees and Contingencies

At 30 September 2022, the company have a commitment to purchase an off plan apartment amounting £276,732 with an unknown completion date.  Of this £78,574 has already been paid and shown within Working Progress.

4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Investment properties   Total
  £   £   £   £
At 01 October 2023 415    1,279    644,553    646,247 
Additions      
Disposals      
Revaluations     60,447    60,447 
At 30 September 2024 415    1,279    705,000    706,694 
Depreciation
At 01 October 2023 149    256      405 
Charge for year 54    205      259 
On disposals      
At 30 September 2024 203    461      664 
Net book values
Closing balance as at 30 September 2024 212    818    705,000    706,030 
Opening balance as at 01 October 2023 266    1,023    644,553    645,842 


5.

Stocks

2024
£
  2023
£
Work in Progress 78,549    78,574 
78,549    78,574 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Accrued Income 2,300   
2,300   

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Accrued Expenses 100    650 
Other Creditors (2)   1 
Directors' Current Accounts 301,767    296,627 
301,865    297,278 

8.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts (secured) 489,089    489,093 
489,089    489,093 

9.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 11,680    245 
11,680    245 

10.

Share Capital

Authorised
2 Class A shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
2 Class A shares of £1.00 each  
 

11.

Reserves

2024
£
  2023
£
Revaluation of Fixed Assets 48,962   
48,962   

12.

Director’s loan

Directors loan

As at 30 Sep 2024 the company owed the director £301,767 (2023-£296.627).
This is an interest free facility, repayable on demand.
13.

Property revaluation

The directors have made a director revaluation on the properties during the year.
5