The Belt Company Limited - Filleted accounts

Registered number

03021237

The Belt Company Limited

Filleted Accounts

28 February 2025

The Belt Company Limited
Registered number:		03021237
Balance Sheet
as at 28 February 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		69,488			52,092
Investments	4		1,000			1,000
			70,488			53,092

Current assets
Stocks		155,000			155,000
Debtors	5	704,223			713,273
Cash at bank and in hand		242,660			241,322
		1,101,883			1,109,595

Creditors: amounts falling due within one year	6	(592,050)			(693,590)

Net current assets			509,833			416,005

Total assets less current liabilities			580,321			469,097


Provisions for liabilities			(13,203)			(8,363)


Net assets			567,118			460,734

Capital and reserves
Called up share capital			46,666			46,666
Share premium			46,666			46,666
Profit and loss account			473,786			367,402

Shareholders' funds			567,118			460,734

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




D S McMaster
Director
Approved by the board on 21 November 2025

The Belt Company Limited
Notes to the Accounts
for the year ended 28 February 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery			over 5 years
	Fixtures, fittings, tools and equipment			over 5 years

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					9		9


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 March 2024	86,979		227,219		73,648		387,846
	Additions	-		17,250		28,240		45,490
	At 28 February 2025	86,979		244,469		101,888		433,336

	Depreciation
	At 1 March 2024	78,900		197,250		59,604		335,754
	Charge for the year	8,079		9,444		10,571		28,094
	At 28 February 2025	86,979		206,694		70,175		363,848

	Net book value
	At 28 February 2025	-		37,775		31,713		69,488
	At 29 February 2024	8,079		29,969		14,044		52,092


4	Investments
Investments in
subsidiary
undertakings
£
	Cost
	At 1 March 2024							1,000

	At 28 February 2025							1,000


5	Debtors					2025		2024
£							£

	Trade debtors					683,352		651,337
	Other debtors					20,871		61,936
						704,223		713,273


6	Creditors: amounts falling due within one year					2025		2024
£							£

	Trade creditors					410,378		391,145
	Taxation and social security costs					31,644		6,240
	Other creditors					150,028		296,205
						592,050		693,590


7	Contingent liabilities

	There is a fixed charge on all debts and related rights and a floating charge on all other property, and two debentures.


8	Related party transactions

	The director is a related party to the company. At 28 February the company owed the related party £53,637 (28 February 2024: £41,437); all loans are interest free, unsecured loans, short term and repayable upon demand.


9	Controlling party

	D S McMaster is the controlling party owning more than 50% of the company's issued share capital.


10	Other information

	The Belt Company Limited is a private company limited by shares and incorporated in England. Its registered office is:
	89 Chorley Road
	Swinton
	Manchester
	M27 4AA