Company No: 04187987 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Mr N A Brown
	Mrs V J Brown

SECRETARY

Mrs V J Brown

REGISTERED OFFICE	Leanne House
	6 Avon Close
	Weymouth
	DT4 9UX
	United Kingdom

COMPANY NUMBER

04187987 (England and Wales)

CHARTERED ACCOUNTANTS	Albert Goodman LLP
	Leanne House
	6 Avon Close
	Weymouth
	Dorset
	DT4 9UX

	Note	2022		2021
		£		£
Fixed assets
Investment property	3	1,279,012		819,246
		1,279,012		819,246
Current assets
Debtors	4	872		89,539
Cash at bank and in hand		6,586		6,787
		7,458		96,326
Creditors
Amounts falling due within one year	5	( 345,937)		( 28,236)
Net current (liabilities)/assets		(338,479)		68,090
Total assets less current liabilities		940,533		887,336
Provisions for liabilities		( 7,333)		0
Net assets		933,200		887,336
Capital and reserves
Called-up share capital		475,000		475,000
Fair value reserve		31,264		0
Profit and loss account		426,936		412,336
Total shareholders' funds		933,200		887,336

For the financial year ending 30 April 2022 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 financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Belvidere House Ltd (registered number: 04187987) were approved and authorised for issue by the Board of Directors on 31 August 2022. They were signed on its behalf by:

Mrs V J Brown Director

Mr N A Brown Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Belvidere House Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leanne House, 6 Avon Close, Weymouth, DT4 9UX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for the rental of property provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

2. Employees

	2022		2021
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

The company is run and administered by the directors of the company for whom no formal contracts of service are in place.

3. Investment property

	Investment property
	£
Valuation
As at 01 May 2021	819,246
Additions	421,169
Fair value movement	38,597
As at 30 April 2022	1,279,012

Valuation

The investment properties class of fixed assets have been valued by the directors who are internal to the company. The basis of this valuation was open market value.

The class of asset has a current value of £1,279,012 (2021 - £819,246) and a carrying amount at historical cost of £1,240,415 (2021 - £819,246). The depreciation on this historical cost is nil (2021 -
£nil).

There has been no valuation of investment property by an independent valuer.

4. Debtors

	2022		2021
	£		£
Amounts owed by connected companies	616		616
Other debtors	256		88,923
	872		89,539

5. Creditors: amounts falling due within one year

	2022		2021
	£		£
Other creditors	343,452		28,236
Corporation tax	2,485		0
	345,937		28,236

6. Related party transactions

Transactions with the entity's directors

Advances

The Directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 May 2021 the balance owed to the Company was £88,669 During the year, £183,032 was advanced and £590,785 was repaid. The balance owed by the Company as at 30 April 2022 was £319,084.

At 1 May 2020 the balance owed by the Company was £48,958. During the year, £170,079 was advanced and £32,452 was repaid. The balance owed to the Company as at 30 April 2021 was £88,669.