Belmount Products Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04338833 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2021

FOR

BELMOUNT PRODUCTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr E R Ursell

REGISTERED OFFICE:

14 Gelliwastad Road

Pontypridd

Rhondda Cynon Taf

CF37 2BW

REGISTERED NUMBER:

04338833 (England and Wales)

ACCOUNTANTS:

Sullivans Chartered Accountants

13-14 Gelliwastad Road

Pontypridd

Rhondda Cynon Taf

CF37 2BW

FIXED ASSETS

Property, plant and equipment

4

141

177

CURRENT ASSETS

Debtors

5

646

2,590

Cash at bank

15,426

2,408

16,072

4,998

CREDITORS

Amounts falling due within one year

6

15,588

13,795

NET CURRENT ASSETS/(LIABILITIES)

484

(8,797

)

TOTAL ASSETS LESS CURRENT LIABILITIES

625

(8,620

)

PROVISIONS FOR LIABILITIES

27

-

NET ASSETS/(LIABILITIES)

598

(8,620

)

CAPITAL AND RESERVES

Called up share capital

8

4

4

Retained earnings

594

(8,624

)

SHAREHOLDERS' FUNDS

598

(8,620

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2021 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 and authorised for issue on 22 February 2022 and were signed by:

Mr E R Ursell - Director

1.	STATUTORY INFORMATION

Belmount Products Limited 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.

Despite the Covid-19 pandemic of 2020 affecting turnover the company has been able to continue trading . No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.

Therefore the financial statements have been prepared on a going concern basis.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery

-

20% on reducing balance

Computer equipment

-

20% on reducing balance

Government grants

During the year, the company income statement disclosed £1,098 of Other Operating Income, of which £1,098 relates to Government Grants.

The grants have been recognised as income over the period necessary to match them with related costs for which they are intended to compensate. The grants received and accrued reflect the compensation for the increased level of operating costs being incurred in a bid to combat the impact of the Covid-19 pandemic.

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.

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 June 2020

and 31 May 2021

1,524

599

2,123

DEPRECIATION

At 1 June 2020

1,397

549

1,946

Charge for year

26

10

36

At 31 May 2021

1,423

559

1,982

NET BOOK VALUE

At 31 May 2021

101

40

141

At 31 May 2020

127

50

177

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/5/21

31/5/20

£

£

Other debtors

646

2,590

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/5/21

31/5/20

£

£

Taxation and social security

444

111

Other creditors

15,144

13,684

15,588

13,795

Included within 'Other creditors' falling due within one year is amounts payable on demand to the company director totalling £13,576 (2020: £12,518). Interest has not been charged to the company on this loan.

7.	FINANCIAL INSTRUMENTS

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/5/21

31/5/20

value:

£

£

2

Ordinary 'A'

£1

2

2

1

Ordinary 'B'

£1

1

1

1

Ordinary 'C'

£1

1

1

4

4