Belgrave Asset Management Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 03936094 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

BELGRAVE ASSET MANAGEMENT LTD

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

M J A Smith

G L Watson

SECRETARY:

M J A Smith

REGISTERED OFFICE:

21b Charles Street

Bath

BA1 1HX

REGISTERED NUMBER:

03936094 (England and Wales)

ACCOUNTANTS:

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Belgrave Asset Management Ltd for the year ended 31 March 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

It is your duty to ensure that Belgrave Asset Management Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Belgrave Asset Management Ltd. You consider that Belgrave Asset Management 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 financial statements of Belgrave Asset Management 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 financial statements.

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

3 November 2025

FIXED ASSETS

Tangible assets

4

4,527

76,630

Investments

5

279

-

4,806

76,630

CURRENT ASSETS

Debtors

6

1,118,242

223,229

Cash at bank

48,131

776,883

1,166,373

1,000,112

CREDITORS

Amounts falling due within one year

7

98,260

114,199

NET CURRENT ASSETS

1,068,113

885,913

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,072,919

962,543

PROVISIONS FOR LIABILITIES

9

880

521

NET ASSETS

1,072,039

962,022

CAPITAL AND RESERVES

Called up share capital

10

28,750

Retained earnings

1,043,289

933,272

SHAREHOLDERS' FUNDS

1,072,039

962,022

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 23 October 2025 and were signed on its behalf by:

M J A Smith - Director

1.	STATUTORY INFORMATION

Belgrave Asset Management Ltd 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.

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 the parent company within the group.

Critical accounting judgements and key sources of estimation uncertainty

No significant judgements or key assumptions have had to be made by the directors in preparing these financial statements.

Turnover

Turnover represents amounts receivable for services excluding value added tax. Turnover is recognised when services are rendered.

Tangible fixed assets

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

Freehold property

-

Land is not depreciated

Office Equipment

-

Straight line over 4 years

Fixtures and fittings

-

Straight line over 4 years

Computer equipment

-

50% on cost

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Fixed asset investments

Investments are recognised at cost less provision for impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Office

and

Computer

property

Equipment

fittings

equipment

Totals

£

COST

At 1 April 2024

75,000

28,148

12,109

18,261

133,518

Additions

-

5,378

Disposals

(75,000

)

-

(9,719

)

(84,719

)

At 31 March 2025

-

28,148

12,109

13,920

54,177

DEPRECIATION

At 1 April 2024

-

27,561

12,109

17,218

56,888

Charge for year

-

195

-

2,286

2,481

Eliminated on disposal

-

(9,719

)

(9,719

)

At 31 March 2025

-

27,756

12,109

9,785

49,650

NET BOOK VALUE

At 31 March 2025

-

392

-

4,135

4,527

At 31 March 2024

75,000

587

-

1,043

76,630

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Reversal of impairments

279

At 31 March 2025

279

NET BOOK VALUE

At 31 March 2025

279

6.

DEBTORS

2025

2024

£

Amounts falling due within one year:

Trade debtors

13,035

27,134

Other debtors

120,405

196,095

133,440

223,229

Amounts falling due after more than one year:

Amounts owed by group undertakings

950,000

-

Other debtors

34,802

-

984,802

-

Aggregate amounts

1,118,242

223,229

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

7,999

21,725

Taxation and social security

84,362

86,951

Other creditors

5,899

5,523

98,260

114,199

8.	LEASING AGREEMENTS

At the year end the company had total outstanding leasing commitments of £253,424.

9.	PROVISIONS FOR LIABILITIES

2025

2024

£

Deferred tax

880

521

Deferred

tax

£

Balance at 1 April 2024

521

Provided during year

359

Balance at 31 March 2025

880

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

115,000

Ordinary

£0.25

28,750

11.	PARENT COMPANY

The parent company is Belgrave Bath Holdings Ltd.