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Company registration number: 04484347
Belford Contract Refurbishment Limited
Unaudited filleted financial statements
31 January 2025
Belford Contract Refurbishment Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Belford Contract Refurbishment Limited
Directors and other information
Directors Mr R Meehan
Mr D Meehan
Secretary R Meehan
Company number 04484347
Registered office 249 Alexander Road
Acocks Green
Birmingham
B27 6EU
Business address 249 Alexander Road
Acocks Green
Birmingham
B27 6EU
Accountants Thursfield & Co
Holbeche House
437 Shirley Road
Acocks Green
Birmingham
B27 7NX
Belford Contract Refurbishment Limited
Statement of financial position
31 January 2025
2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 5 389,776 288,747
_______ _______
389,776 288,747
Current assets
Debtors 6 2,000,880 1,571,411
Cash at bank and in hand 141,998 180,079
_______ _______
2,142,878 1,751,490
Creditors: amounts falling due
within one year 7 ( 1,610,055) ( 1,120,696)
_______ _______
Net current assets 532,823 630,794
_______ _______
Total assets less current liabilities 922,599 919,541
_______ _______
Net assets 922,599 919,541
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 922,499 919,441
_______ _______
Shareholders funds 922,599 919,541
_______ _______
For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- 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;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 27 March 2025 , and are signed on behalf of the board by:
Mr R Meehan
Director
Belford Contract Refurbishment Limited
Notes to the financial statements
Year ended 31 January 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 249 Alexander Road, Acocks Green, Birmingham, B27 6EU.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the 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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 10 % reducing balance
Fittings fixtures and equipment - 10 % reducing balance
Motor vehicles - 10 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2024: 9 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 February 2024 210,436 64,965 338,382 613,783
Additions - - 232,380 232,380
Disposals - - ( 148,706) ( 148,706)
_______ _______ _______ _______
At 31 January 2025 210,436 64,965 422,056 697,457
_______ _______ _______ _______
Depreciation
At 1 February 2024 173,273 32,195 119,568 325,036
Charge for the year 3,716 3,277 36,315 43,308
Disposals - - ( 60,663) ( 60,663)
_______ _______ _______ _______
At 31 January 2025 176,989 35,472 95,220 307,681
_______ _______ _______ _______
Carrying amount
At 31 January 2025 33,447 29,493 326,836 389,776
_______ _______ _______ _______
At 31 January 2024 37,163 32,770 218,814 288,747
_______ _______ _______ _______
6. Debtors
2025 2024
£ £
Trade debtors 2,000,880 1,571,411
_______ _______
7. Creditors: amounts falling due within one year
2025 2024
£ £
Trade creditors 370,594 179,266
Corporation tax 273,367 368,795
Social security and other taxes 369,961 272,716
Other creditors 596,133 299,919
_______ _______
1,610,055 1,120,696
_______ _______