Bellmowe Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: SC082347 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2022

FOR

BELLMOWE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Zoltie

P A Zoltie

SECRETARY:

P A Zoltie

REGISTERED OFFICE:

2/1 East Suffolk Park

Edinburgh

Lothian

EH16 5PL

REGISTERED NUMBER:

SC082347 (Scotland)

ACCOUNTANTS:

Haines Watts

Business Advisors and Accountants

Q Court

3 Quality Street

Edinburgh

EH4 5BP

BANKERS:

Clydesdale Bank

83 George Street

Edinburgh

EH2 3ES

SOLICITORS:

Stuart & Stuart WS

23 Rutland Street

Edinburgh

EH1 2RN

FIXED ASSETS

Tangible assets

4

253

333

Investment property

5

1,000,000

1,235,000

1,000,253

1,235,333

CURRENT ASSETS

Debtors

6

325

374

Cash at bank

592,508

401,526

592,833

401,900

CREDITORS

Amounts falling due within one year

7

12,032

14,249

NET CURRENT ASSETS

580,801

387,651

TOTAL ASSETS LESS CURRENT LIABILITIES

1,581,054

1,622,984

PROVISIONS FOR LIABILITIES

9

22,857

63

NET ASSETS

1,558,197

1,622,921

CAPITAL AND RESERVES

Called up share capital

6,900

6,900

Capital redemption reserve

4,389

4,389

Revaluation reserve

(64,841

)

(9,732

)

Retained earnings

1,611,749

1,621,364

SHAREHOLDERS' FUNDS

1,558,197

1,622,921

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 7 October 2022 and were signed on its behalf by:

S Zoltie - Director

1.	STATUTORY INFORMATION

Bellmowe Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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 gross rental income receivable in the year.

TANGIBLE FIXED ASSETS

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

Computer equipment

-

25% per annum reducing balance

INVESTMENT PROPERTY

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Any aggregate unrealised surplus or deficit arising from changes in fair value is initially recognised in profit and loss with a subsequent transfer of this value to a revaluation reserve.

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 balance sheet date.

DEFERRED TAX

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

The deferred tax expense calculated on the valuation of investment properties is initially recognised in profit and loss with a subsequent transfer to a non-distributable reserve to disclose the future tax charge with the unrealised valuation gain to which it relates.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 May 2021

and 30 April 2022

589

DEPRECIATION

At 1 May 2021

256

Charge for year

80

At 30 April 2022

336

NET BOOK VALUE

At 30 April 2022

253

At 30 April 2021

333

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2021

1,235,000

Disposals

(212,000

)

Revaluations

77,000

Impairments

(100,000

)

At 30 April 2022

1,000,000

NET BOOK VALUE

At 30 April 2022

1,000,000

At 30 April 2021

1,235,000

Fair value at 30 April 2022 is represented by:

£

Valuation in 2018

(14,636

)

Valuation in 2021

3,823

Valuation in 2022

(23,000

)

Cost

1,033,813

1,000,000

Investment property was valued on an open market basis on 30 April 2022 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other debtors

325

374

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Taxation and social security

6,824

9,156

Other creditors

5,208

5,093

12,032

14,249

8.	SECURED DEBTS

The company has granted a standard security dated 11 January 1985 to Clydesdale Bank Plc for all sums due or becoming due. There was no liability to Clydesdale Bank Plc at the balance sheet date.

9.	PROVISIONS FOR LIABILITIES

2022

2021

£

£

Deferred tax

22,857

63

Deferred

tax

£

Balance at 1 May 2021

63

Accelerated capital allowances

(15

)

Revalued assets

22,809

Balance at 30 April 2022

22,857