Belvedere Mead Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07462110 (England and Wales)

Belvedere Mead Ltd

Financial Statements for the Year Ended 31st December 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P G Mason

E D Mason

REGISTERED OFFICE:

49 Middle Bourne Lane

Lower Bourne

Farnham

Surrey

GU10 3NJ

REGISTERED NUMBER:

07462110 (England and Wales)

ACCOUNTANTS:

Sheen Stickland

Chartered Accountants

4 High Street

Alton

Hampshire

GU34 1BU

FIXED ASSETS

Tangible assets

4

339,549

341,366

CURRENT ASSETS

Debtors

5

111,404

199,605

Cash at bank

388,908

244,688

500,312

444,293

CREDITORS

Amounts falling due within one year

6

129,794

117,610

NET CURRENT ASSETS

370,518

326,683

TOTAL ASSETS LESS CURRENT LIABILITIES

710,067

668,049

CREDITORS

Amounts falling due after more than one year

7

364,717

185,925

NET ASSETS

345,350

482,124

CAPITAL AND RESERVES

Called up share capital

9

1,000

1,000

Retained earnings

10

344,350

481,124

SHAREHOLDERS' FUNDS

345,350

482,124

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2020 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 14th July 2021 and were signed on its behalf by:

E D Mason - Director

1.	STATEMENT OF COMPLIANCE

Belvedere Mead Limited is a private company, limited by shares, incorporated in England and Wales. The address of the registered office is 49 Middle Bourne Lane, Lower Bourne, Farnham, Surrey, GU10 3NJ. The registration number is 07462110.

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

The financial statements have been prepared in compliance with FRS102 section 1A as it is applied to the financial statements for the year ended 31st December 2020.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The financial statement have been prepared under the historical cost convention.

Covid-19 has resulted in the company not being able to conduct planned work, and as a result revenue has been reduced. Directors don't believe any long term impact on going concern.

Turnover

Turnover 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.

Land and buildings

-

in accordance with the lease

Plant and machinery etc

-

25% on cost

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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2019 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1st January 2020

347,792

15,490

363,282

Additions

-

1,473

1,473

Disposals

-

(1,322

)

(1,322

)

At 31st December 2020

347,792

15,641

363,433

DEPRECIATION

At 1st January 2020

8,880

13,036

21,916

Charge for year

1,480

1,810

3,290

Eliminated on disposal

-

(1,322

)

(1,322

)

At 31st December 2020

10,360

13,524

23,884

NET BOOK VALUE

At 31st December 2020

337,432

2,117

339,549

At 31st December 2019

338,912

2,454

341,366

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

15,840

36,268

Other debtors

95,564

163,337

111,404

199,605

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

30,738

8,400

Trade creditors

24,418

17,666

Taxation and social security

62,238

77,630

Other creditors

12,400

13,914

129,794

117,610

Included in Trade creditors is a pension creditor balance of £16,189 (2019: £6,970).

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

364,717

185,925

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

155,413

152,325

8.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank loan

185,455

194,325

CBILS Loan

210,000

-

395,455

194,325

The bank loan is secured by way of a fixed and floating charge over the freehold property of the company.

The CBILS loan is secured by way of a fixed and floating charge over all assets of the company, this loan is guaranteed by the government.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

1,000

Ordinary

£1

1,000

1,000

10.

RESERVES

Retained

earnings

£

At 1st January 2020

481,124

Deficit for the year

(86,774

)

Dividends

(50,000

)

At 31st December 2020

344,350

11.	OTHER FINANCIAL COMMITMENTS

The company's minimum lease commitments as at 31st December 2020 is £58,580 (2019: £128,876).

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st December 2020 and 31st December 2019:

2020

2019

£

£

E D Mason

Balance outstanding at start of year

5

(217

)

Amounts advanced

-

368

Amounts repaid

(209

)

(146

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(204

)

5

13.	RELATED PARTY DISCLOSURES

Belvedere Mead provided a loan of £75,000 to BelMead Tech Solutions Ltd, a company under common control. During the year repayment of £365 was received and a bad debt provision was made of £65,000 (2019 - £0) leaving a balance owed at 31st December 2020 of £10,000 (2019: £75,365). This amount is interest free and repayable on demand.

14.	POST BALANCE SHEET EVENTS

Since the date these financial statements were approved, there has not been any additional impact as a result of Covid-19 from that disclosed in the basis of preparation note.

On the 4th January 2021 the 1,000 £1 ordinary shares were sub-divided into 1,000,000 £0.001 shares.