REGISTERED NUMBER: SC302163 (Scotland)

Belvoir Lettings (Moray) Ltd

Financial Statements For The Year Ended 31 May 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A Campbell

Mrs L Campbell

REGISTERED OFFICE:

4 North Guildry Street

Elgin

Moray

IV30 1JR

REGISTERED NUMBER:

SC302163 (Scotland)

ACCOUNTANTS:

The Long Partnership

4 North Guildry Street

Elgin

Moray

IV30 1JR

BANKERS:

The Royal Bank of Scotland

209 High Street

Elgin

Moray

IV30 1DL

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

20,779

14,416

20,779

14,416

CURRENT ASSETS

Debtors

6

187,759

188,979

Cash at bank

242,224

279,497

429,983

468,476

CREDITORS

Amounts falling due within one year

7

236,286

279,600

NET CURRENT ASSETS

193,697

188,876

TOTAL ASSETS LESS CURRENT LIABILITIES

214,476

203,292

CREDITORS

Amounts falling due after more than one year

8

(88,679

)

(94,926

)

PROVISIONS FOR LIABILITIES

9

(1,427

)

(2,525

)

NET ASSETS

124,370

105,841

CAPITAL AND RESERVES

Called up share capital

10

120

120

Retained earnings

11

124,250

105,721

SHAREHOLDERS' FUNDS

124,370

105,841

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2025 and were signed on its behalf by:

Mr A Campbell - Director

1.	STATUTORY INFORMATION

Belvoir Lettings (Moray) Ltd is a private company, limited by shares , registered in Scotland. 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life of 4 years. Goodwill is now fully amortised.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment

-

33% on cost and 25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2024 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2024

and 31 May 2025

85,000

AMORTISATION

At 1 June 2024

and 31 May 2025

85,000

NET BOOK VALUE

At 31 May 2025

-

At 31 May 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

Equipment

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 June 2024

2,711

15,111

12,357

12,211

42,390

Additions

249

-

12,998

844

14,091

At 31 May 2025

2,960

15,111

25,355

13,055

56,481

DEPRECIATION

At 1 June 2024

2,121

13,928

1,283

10,642

27,974

Charge for year

176

296

6,018

1,238

7,728

At 31 May 2025

2,297

14,224

7,301

11,880

35,702

NET BOOK VALUE

At 31 May 2025

663

887

18,054

1,175

20,779

At 31 May 2024

590

1,183

11,074

1,569

14,416

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

£

Trade debtors

24,378

27,728

Other debtors

163,381

161,251

187,759

188,979

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Hire purchase contracts include amounts of £3,210 (2024 - £Nil) which are secured against the assets to which they relate.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Hire purchase contracts include amounts of £7,112 (2024 - £Nil) which are secured against the assets to which they relate.

9.	PROVISIONS FOR LIABILITIES

31.5.25

31.5.24

£

£

Deferred tax

1,427

2,525

Deferred

tax

£

Balance at 1 June 2024

2,525

Provided during year

(1,098

)

Balance at 31 May 2025

1,427

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.25

31.5.24

value:

£

£

100

Ordinary

1

100

100

20

A Ordinary

1

20

20

120

120

11.

RESERVES

Retained

earnings

£

At 1 June 2024

105,721

Profit for the year

29,529

Dividends

(11,000

)

At 31 May 2025

124,250

12.	CAPITAL COMMITMENTS

31.5.25

31.5.24

£

£

Contracted but not provided for in the

financial statements

158,879

174,508

13.	RELATED PARTY DISCLOSURES

During the year, total dividends of £11,000 (2024 - £13,000) were paid to the directors .

At 31 May 2024 the company owed the directors £505. During the year the company met expenses on behalf of the directors totalling £214. At 31 May 2025, the company owed the directors £291. This loan is interest free and has no fixed repayment terms.

During the year the company paid rent to the directors totalling £15,629 (2024 - £15,629).

Guarantees

The company has given a guarantee for a loan of £150,000 on behalf of the directors.

At 31 May 2024 and 31 May 2025 Inverness Asset Managers Ltd, a company under common control owed the company £160,863. This loan is interest free and has no fixed terms of repayment.