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REGISTERED NUMBER: 06214076 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

BEL PROPERTY LIMITED

BEL PROPERTY LIMITED (REGISTERED NUMBER: 06214076)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BEL PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: Mrs I J Platt
C C Platt





SECRETARY: S R Cooper





REGISTERED OFFICE: c/o Philip Barnes & Co Limited
The Old Council Chambers
Halford Street
Tamworth
Staffordshire
B79 7RB





REGISTERED NUMBER: 06214076 (England and Wales)





ACCOUNTANTS: Philip Barnes & Co Limited
Chartered Accountants
The Old Council Chambers
Halford Street
Tamworth
Staffordshire
B79 7RB

BEL PROPERTY LIMITED (REGISTERED NUMBER: 06214076)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,140 4,006
Investment property 5 940,000 940,000
943,140 944,006

CURRENT ASSETS
Debtors 6 32,153 33,409
Cash at bank 115,484 118,541
147,637 151,950
CREDITORS
Amounts falling due within one year 7 22,912 32,298
NET CURRENT ASSETS 124,725 119,652
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,067,865

1,063,658

PROVISIONS FOR LIABILITIES 65,453 65,657
NET ASSETS 1,002,412 998,001

CAPITAL AND RESERVES
Called up share capital 110 110
Share premium 624,929 624,929
Revaluation reserve 8 343,240 343,240
Retained earnings 34,133 29,722
SHAREHOLDERS' FUNDS 1,002,412 998,001

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BEL PROPERTY LIMITED (REGISTERED NUMBER: 06214076)

BALANCE SHEET - continued
31 OCTOBER 2024


The 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 June 2025 and were signed on its behalf by:





Mrs I J Platt - Director


BEL PROPERTY LIMITED (REGISTERED NUMBER: 06214076)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1. STATUTORY INFORMATION

Bel Property Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The significant accounting policies applied in the preparation of the financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents rents receivable on an accruals basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% reducing balance
Fixtures and fittings - 15% reducing balance
Computer equipment - 33% reducing balance

Investment property
Investment property is shown at most recent market value or cost. No depreciation is charged on investment properties,whilst this is a departure from the companies act 2006 as investment properties are held for investment rather than consumption the directors consider this policy necessary to give a true and fair view.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

BEL PROPERTY LIMITED (REGISTERED NUMBER: 06214076)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 November 2023
and 31 October 2024 5,748 4,940 922 11,610
DEPRECIATION
At 1 November 2023 3,798 3,277 529 7,604
Charge for year 487 249 130 866
At 31 October 2024 4,285 3,526 659 8,470
NET BOOK VALUE
At 31 October 2024 1,463 1,414 263 3,140
At 31 October 2023 1,950 1,663 393 4,006

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023
and 31 October 2024 940,000
NET BOOK VALUE
At 31 October 2024 940,000
At 31 October 2023 940,000

Fair value at 31 October 2024 is represented by:
£   
Valuation in 2014 108,000
Valuation in 2019 140,000
Valuation in 2021 160,000
Cost 532,000
940,000

BEL PROPERTY LIMITED (REGISTERED NUMBER: 06214076)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

5. INVESTMENT PROPERTY - continued

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 532,000 532,000

Investment properties were valued on an open market basis on 31 October 2024 by the Directors .

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 1,488 2,393
Other debtors 23,522 23,873
25,010 26,266

Amounts falling due after more than one year:
Amounts owed by group undertakings 7,143 7,143

Aggregate amounts 32,153 33,409

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 77 1
Taxation and social security 13,258 16,594
Other creditors 9,577 15,703
22,912 32,298

8. RESERVES
Revaluation
reserve
£   
At 1 November 2023
and 31 October 2024 343,240

9. CONTINGENT LIABILITIES

If any of the properties owned by the company are built on contaminated land, the holding company holds a contamination fund of £100,000 contributed towards by all subsidiaries, to cover costs in relation to the properties together with specific properties owned by other of the subsidiary companies.

The directors are unable to state whether or not this fund will be sufficient to cover any potential liabilities arising as a result of contamination. If it is insufficient the company will incur the excess costs of the contamination relating to its own properties as well as its contribution to the fund.

If other companies in the group claim against the fund, the company will contribute up to a maximum of £7,143.

BEL PROPERTY LIMITED (REGISTERED NUMBER: 06214076)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2024 and 31 October 2023:

2024 2023
£    £   
Mrs I J Platt
Balance outstanding at start of year 21,761 6,558
Amounts advanced 29,759 35,203
Amounts repaid (30,762 ) (20,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 20,758 21,761

Interest has been charged on the balance at an average rate of 2.25%, in accordance with HMRC official rates.