Registered number
02184380
Belstead Limited
Filleted Accounts
For the year ended 30 September 2024
Belstead Limited
Registered number: 02184380
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,040,299 1,069,154
Current assets
Debtors 4 2,607 4,442
Cash at bank and in hand 15,789 19,891
18,396 24,333
Creditors: amounts falling due within one year 5 (3,920) (7,039)
Net current assets 14,476 17,294
Total assets less current liabilities 1,054,775 1,086,448
Provisions for liabilities (122,950) (130,163)
Net assets 931,825 956,285
Capital and reserves
Called up share capital 100 100
Profit and loss account 931,725 956,185
Shareholders' funds 931,825 956,285
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
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.
Approved by the board on 12 June 2025
Mrs C S Hunt
Director
Belstead Limited
Notes to the Accounts
for the year ended 30 September 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. Turnover includes revenue earned from property rental.
Tangible fixed assets and depreciation
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 land and buildings, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings and equipment 25% reducing balance
Computer equipment 33% reducing balance
Investment property
Investment property is included at fair value. Revaluation adjustments are recognised in the profit and loss statement. Deferred taxation is provided on any property gains at the rate expected to apply when the property is sold.
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 are recognised when there is an obligation at the reporting date, as a result of a past event, and it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of employees (including Directors) 4 4
3 Tangible fixed assets
Land and buildings Fixtures fittings and equipment Total
£ £ £
Cost or valuation
At 1 October 2023 1,068,750 8,559 1,077,309
Deficit on revaluation (28,750) - (28,750)
At 30 September 2024 1,040,000 8,559 1,048,559
Depreciation
At 1 October 2023 - 8,155 8,155
Charge for the year - 105 105
At 30 September 2024 - 8,260 8,260
Net book value
At 30 September 2024 1,040,000 299 1,040,299
At 30 September 2023 1,068,750 404 1,069,154
Land and buildings: 2024 2023
£ £
Historical cost 348,007 348,007
Surplus on revaluation 691,993 720,743
1,040,000 1,068,750
The investment properties were valued by the directors at 30 September 2024.
4 Debtors 2024 2023
£ £
Other debtors 2,607 4,442
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs - 2,202
Other creditors 3,920 4,837
3,920 7,039
6 Other information
Belstead Limited is a private company limited by shares and incorporated in England. Its registered office is 9 Kent House, Old Bexley Business Park, Bourne Road, Bexley, Kent DA5 1LR.
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