Belmont 1 Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10545655

BELMONT 1 LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 March 2025

BELMONT 1 LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	1,392,913	1,393,306
Investments	6	217,823	150,178
		-------------	-------------
		1,610,736	1,543,484

Current assets

Debtors	7	6,892	38,161
Cash at bank and in hand		147,173	145,946
		----------	----------
		154,065	184,107

Creditors: amounts falling due within one year	8	( 883,019)	( 878,996)
		----------	----------
Net current liabilities		( 728,954)	( 694,889)
		-------------	-------------
Total assets less current liabilities		881,782	848,595

Provisions	( 36,411)	( 33,004)
	----------	----------
Net assets	845,371	815,591
	----------	----------

Capital and reserves

Called up share capital	646,000	646,000
Profit and loss account	199,371	169,591
	----------	----------
Shareholders funds	845,371	815,591
	----------	----------

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.

For the year ending 31 March 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 .

BELMONT 1 LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 23 December 2025 , and are signed on behalf of the board by:

L R Lukies

Director

Company registration number: 10545655

BELMONT 1 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 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 Home Farm, Ponton Road, Boothby Pagnell, Grantham, Lincs, NG33 4DH.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis and in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

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.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 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.

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	-	25% straight line
Equipment	-	25% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Impairment of fixed assets

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.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

The company only holds basic financial instruments as defined in FRS 102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. Tangible assets

	Investment property	Plant and machinery	Equipment	Total
	£	£	£	£
Cost
At 1 April 2024	1,392,142	1,154	1,195	1,394,491
Additions	–	–	203	203
	-------------	-------	-------	-------------
At 31 March 2025	1,392,142	1,154	1,398	1,394,694
	-------------	-------	-------	-------------
Depreciation
At 1 April 2024	–	818	367	1,185
Charge for the year	–	289	307	596
	-------------	-------	-------	-------------
At 31 March 2025	–	1,107	674	1,781
	-------------	-------	-------	-------------
Carrying amount
At 31 March 2025	1,392,142	47	724	1,392,913
	-------------	-------	-------	-------------
At 31 March 2024	1,392,142	336	828	1,393,306
	-------------	-------	-------	-------------

The investment properties are revalued each year at the balance sheet date by the directors at open market value though there were no changes at this year end. At the year end the historical cost of investment properties was £1,264,838 (2023: £1,264,838).

6. Investments

	Listed investments
	£
Cost
At 1 April 2024	150,178
Additions	53,623
Revaluations	14,022
	----------
At 31 March 2025	217,823
	----------
Impairment
At 1 April 2024 and 31 March 2025	–
	----------

Carrying amount
At 31 March 2025	217,823
	----------
At 31 March 2024	150,178
	----------

7. Debtors

	2025	2024
	£	£
Trade debtors	1,729	1,726
Other debtors	5,163	36,435
	-------	---------
	6,892	38,161
	-------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	–	300
Corporation tax	2,745	2,096
Social security and other taxes	6,745	1,908
Other loans	850,000	849,640
Other creditors	23,529	25,052
	----------	----------
	883,019	878,996
	----------	----------