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Registered number: 04442286
BELLHOUSE JOSEPH LEITH LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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BELLHOUSE JOSEPH LEITH LIMITED
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CONTENTS
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Statement of Financial Position
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Notes to the Financial Statements
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BELLHOUSE JOSEPH LEITH LIMITED
REGISTERED NUMBER:04442286
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STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Capital redemption reserve
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The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 September 2026.
The notes on pages 2 to 5 form part of these financial statements.
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BELLHOUSE JOSEPH LEITH LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Bellhouse Joseph Leith Limited is a private limited liability company incorporated in England and Wales with its registered office at 2nd Floor, Connaught House, 1-3 Mount Street (Entrance Via Davies Street), London W1K 3NB.
The principal activity of the company continued to be that of an investment company, holding a 10% equity investment in Forth Property Holdings Limited.
The company's functional and presentational currency is £ Sterling.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The financial statements have been prepared on a going concern basis as the company is not incurring any ongoing costs and has no third party liabilities. The deficit in the financial statements is almost entirely represented by a liability for long term cumulative preference shares and accrued dividends payable thereon which are not due for payment in view of the accumulated loss position. Accordingly the director has prepared these financial statements on a going concern basis.
Investments in unlisted company shares, whose market value cannot be reliably determined are stated at historic cost less impairment.
Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Short term debtors are measured at the transaction price, less any impairment.
Short term creditors are measured at the transaction price.
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BELLHOUSE JOSEPH LEITH LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
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The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).
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The average monthly number of employees, including directors, during the year was 0 (2023 - 0).
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BELLHOUSE JOSEPH LEITH LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Amounts owed by group undertakings
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Creditors: Amounts falling due within one year
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Creditors: Amounts falling due after more than one year
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Share capital treated as debt
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BELLHOUSE JOSEPH LEITH LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Shares classified as equity
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Allotted, called up and fully paid
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100 Ordinary shares of £1 each
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1 Preferred ordinary share of £1
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Shares classified as debt
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Allotted, called up and fully paid
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8,010,002 5% cumulative redeemable 'A' preference shares of £1 each
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100 5% cumulative redeemable 'B' preference shares of £1 each
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Profits available for distribution each year are distributed firstly to the holders of the 'A' and 'B' preference shares (pari passu as if they were one class) by a fixed cumulative cash dividend, accrued daily. Preference dividends are payable annually on 30 June each year in respect of the relevant preceding year. Any remaining profits can be distributed to the holders of the 'B' preference shares, but only where certain conditions have been satisfied, including the prior redemption of all the 'A' preference shares.
Following payment of the preference dividends in respect of each financial year, but prior to the payment of any 'B' preference dividend, all remaining profits shall be applied in redeeming such a number of 'A' preference shares as may be redeemed at par, with a redemption date of 30 June each year in respect of the relevant preceding year.
No dividend shall be paid in respect of the ordinary shares unless the holders of the preference shares have received in aggregate the permitted maximum of £100,000,000.
Holders of the 'A' and 'B' preference shares have first priority in the event of a winding up of the company. No preference shares were redeemed in the current or preceding year.
The company is a joint venture between Noble Grossart Investments Limited and Bellhouse Joseph Holdings Limited. Bellhouse Joseph Holdings Limited has control by virtue of its majority of voting rights and so is considered to be the parent entity. The parent company's registered office is 2nd Floor, Connaught House, 1-3 Mount Street (Entrance Via Davies Street), London W1K 3NB.
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