Belfast Estates Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09148506 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2019

FOR

BELFAST ESTATES LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

N E Stern

REGISTERED OFFICE:

19 Belfast Road

London

N16 6U

REGISTERED NUMBER:

09148506 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Tangible assets

3

7,758

7,289

Investment property

4

1,377,090

1,365,000

1,384,848

1,372,289

CURRENT ASSETS

Debtors

5

157,867

142,073

Cash at bank

88

4,650

157,955

146,723

CREDITORS

Amounts falling due within one year

6

331,817

326,467

NET CURRENT LIABILITIES

(173,862

)

(179,744

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,210,986

1,192,545

CREDITORS

Amounts falling due after more than one year

7

859,155

871,848

NET ASSETS

351,831

320,697

CAPITAL AND RESERVES

Called up share capital

9

1

1

Revaluation reserve

10

326,550

326,550

Retained earnings

10

25,280

(5,854

)

SHAREHOLDERS' FUNDS

351,831

320,697

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 12 November 2019 and were signed by:

N E Stern - Director

1.	STATUTORY INFORMATION

Belfast Estates 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets

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

Fixtures and fittings

-

15% 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 August 2018

12,269

Additions

1,839

At 31 July 2019

14,108

DEPRECIATION

At 1 August 2018

4,980

Charge for year

1,370

At 31 July 2019

6,350

NET BOOK VALUE

At 31 July 2019

7,758

At 31 July 2018

7,289

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 August 2018

1,365,000

Additions

12,090

At 31 July 2019

1,377,090

NET BOOK VALUE

At 31 July 2019

1,377,090

At 31 July 2018

1,365,000

Fair value at 31 July 2019 is represented by:

£

Valuation in 2016

326,550

Cost

1,050,540

1,377,090

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.19

31.7.18

£

£

Trade debtors

10,308

19,108

Other debtors

147,559

122,965

157,867

142,073

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.19

31.7.18

£

£

Taxation and social security

3,631

-

Other creditors

328,186

326,467

331,817

326,467

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.19

31.7.18

£

£

Bank loans

859,155

871,848

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

-

9

Repayable by instalments

Bank loans more 5 yr by instal

250,134

262,664

Bank loans more 5 yr by instal

609,021

609,175

859,155

871,839

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.19

31.7.18

£

£

Bank loans

859,155

871,848

The bank loans and overdrafts are secured by a first charge over the company's properties and a floating charge

over the assets of the company, and bear interest at variable rates.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.19

31.7.18

value:

£

£

100

Ordinary Share Capital

0.01

1

1

10.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 August 2018

(5,854

)

326,550

320,696

Profit for the year

31,134

31,134

At 31 July 2019

25,280

326,550

351,830

11.	ULTIMATE CONTROLLING PARTY

The controlling party is N E Stern.