Bell Property Holdings Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01906795 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2020

for

Bell Property Holdings Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

4

DIRECTOR:

S P Bell

REGISTERED OFFICE:

8 Heathfield Place

Low Fell

Gateshead

Tyne and Wear

NE9 5AS

REGISTERED NUMBER:

01906795 (England and Wales)

FIXED ASSETS

Tangible assets

5

1,476,592

294,884

CURRENT ASSETS

Debtors

6

2,421

41

Prepayments and accrued income

-

600

Cash at bank

942,971

567,582

945,392

568,223

CREDITORS

Amounts falling due within one year

7

2,063,942

512,923

NET CURRENT (LIABILITIES)/ASSETS

(1,118,550

)

55,300

TOTAL ASSETS LESS CURRENT LIABILITIES

358,042

350,184

PROVISIONS FOR LIABILITIES

(5,000

)

(5,000

)

ACCRUALS AND DEFERRED INCOME

(5,143

)

(616

)

NET ASSETS

347,899

344,568

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

8

143,884

143,884

Retained earnings

203,915

200,584

SHAREHOLDERS' FUNDS

347,899

344,568

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 3 December 2021 and were signed by:

S P Bell - Director

1.	STATUTORY INFORMATION

Bell Property Holdings 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below:

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rent stated net of discounts and of 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.

Financial instruments

Financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

5.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST OR VALUATION

At 1 January 2020

294,884

Additions

1,181,708

At 31 December 2020

1,476,592

NET BOOK VALUE

At 31 December 2020

1,476,592

At 31 December 2019

294,884

Included in cost or valuation of land and buildings is freehold land of £ 294,884 (2019 - £ 294,884 ) which is not depreciated.

Cost or valuation at 31 December 2020 is represented by:

Freehold

property

£

Valuation in 2003

99,000

Valuation in 2017

44,884

Cost

1,332,708

1,476,592

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

660

-

Other debtors

1,761

41

2,421

41

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade creditors

160

-

Taxation and social security

8,943

7,391

Other creditors

2,054,839

505,532

2,063,942

512,923

8.

RESERVES

Revaluation

reserve

£

At 1 January 2020

and 31 December 2020

143,884