Belfast Estates Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 09148506 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

FOR

BELFAST ESTATES LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

N E Stern

REGISTERED OFFICE:

19 Belfast Road

London

N16 6U

REGISTERED NUMBER:

09148506 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Tangible assets

4

4,764

5,605

Investment property

5

1,042,795

1,042,795

1,047,559

1,048,400

CURRENT ASSETS

Debtors

6

383,808

377,964

Cash at bank

2,277

2,305

386,085

380,269

CREDITORS

Amounts falling due within one year

7

(361,217

)

(356,142

)

NET CURRENT ASSETS

24,868

24,127

TOTAL ASSETS LESS CURRENT LIABILITIES

1,072,427

1,072,527

CREDITORS

Amounts falling due after more than one year

8

(566,960

)

(589,945

)

NET ASSETS

505,467

482,582

CAPITAL AND RESERVES

Called up share capital

11

1

1

Revaluation reserve

12

326,550

326,550

Retained earnings

12

178,916

156,031

SHAREHOLDERS' FUNDS

505,467

482,582

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2022 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 25 April 2023 and were signed by:

N E Stern - Director

1.	STATUTORY INFORMATION

Belfast Estates 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.

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 net rent receivable, excluding 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.

Fixtures and fittings

-

15% on reducing balance

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 NIL (2021 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 August 2021

and 31 July 2022

14,108

DEPRECIATION

At 1 August 2021

8,503

Charge for year

841

At 31 July 2022

9,344

NET BOOK VALUE

At 31 July 2022

4,764

At 31 July 2021

5,605

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 August 2021

and 31 July 2022

1,042,795

NET BOOK VALUE

At 31 July 2022

1,042,795

At 31 July 2021

1,042,795

The director has confirmed that, there is no significant market value increase or decrease in properties.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.22

31.7.21

£

£

Trade debtors

5,896

14,137

Other debtors

377,912

363,827

383,808

377,964

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.22

31.7.21

£

£

Taxation and social security

11,966

24,308

Other creditors

349,251

331,834

361,217

356,142

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.7.22

31.7.21

£

£

Bank loans (see note 9)

566,960

589,945

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

231,020

237,173

Bank loans more 5 yr by instal

297,163

304,468

528,183

541,641

9.

LOANS

An analysis of the maturity of loans is given below:

31.7.22

31.7.21

£

£

Amounts falling due between two and five years:

Bank loans - 2-5 years

38,777

48,304

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

231,020

237,173

Bank loans more 5 yr by instal

297,163

304,468

528,183

541,641

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.22

31.7.21

£

£

Bank loans

566,960

589,945

1. Long term bank loan is secured by first charge over the company's investment property.

2. Short term bank loan is unsecured and received under Bounceback Loan Scheme (BBL) which is guaranteed by UK government.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.22

31.7.21

value:

£

£

100

Ordinary Share Capital

0.01

1

1

12.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 August 2021

156,031

326,550

482,581

Profit for the year

22,885

22,885

At 31 July 2022

178,916

326,550

505,466

13.	ULTIMATE CONTROLLING PARTY

The controlling party is N E Stern.