Belgrave Finance Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 04731488 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Belgrave Finance Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr C P Eaton LLB (Hons) C Dir

REGISTERED OFFICE:

Monomark House

27 Old Gloucester Street

London

WC1N 3AX

REGISTERED NUMBER:

04731488 (England and Wales)

ACCOUNTANTS:

ILS Fiduciaries (IOM) Limited

First Floor

Millennium House

Victoria Road

Douglas

Isle of Man

IM2 4RW

FIXED ASSETS

Investments

4

94,388

83,426

CREDITORS

Amounts falling due within one year

5

127,730

107,155

NET CURRENT LIABILITIES

(127,730

)

(107,155

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(33,342

)

(23,729

)

CAPITAL AND RESERVES

Called up share capital

6

1,000

1,000

Retained earnings

7

(34,342

)

(24,729

)

SHAREHOLDERS' FUNDS

(33,342

)

(23,729

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 5 October 2023 and were signed by:

Mr C P Eaton LLB (Hons) C Dir - Director

1.	STATUTORY INFORMATION

Belgrave Finance 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the Balance Sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Going concern

The financial statements have been prepared on a going concern basis notwithstanding the excess of liabilities over assets as the director believes the beneficial owner will continue to make adequate funds available to enable the company to meet its liabilities as and when they fall due. The director has no reason to believe that financial support will not continue in the future and considered it appropriate to adopt a going concern basis. The accounts do not contain any adjustments that would be necessary should this basis not be appropriate.

Fixed asset investments

Fixed asset investments are shown at their cost to the company, including all costs of acquisition, less any provision for impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4.	FIXED ASSET INVESTMENTS

Unquoted

shares

£

COST

At 1 April 2022

83,426

Exchange differences

10,962

At 31 March 2023

94,388

NET BOOK VALUE

At 31 March 2023

94,388

At 31 March 2022

83,426

The fixed asset investment consists of 10 Ordinary £1 Shares in United Releasing International Limited, a company incorporated in the United Kingdom, which represents 10% of the issued share capital. The shares were purchased in 2013 at a cost to the company of US$ 113,284.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Amounts owed to related parties

33,342

24,729

Unified Holdings loan

94,388

82,426

127,730

107,155

The amounts owed to related parties are unsecured, interest free and repayable on demand.

The amount due to Unified Holdings Limited relates to a promissory note to pay $113,284 which is unsecured and repayable on demand.

6.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2023

2022

value:

£

£

1,000

Ordinary

£1

1,000

1,000

7.

RESERVES

Retained

earnings

£

At 1 April 2022

(24,729

)

Deficit for the year

(9,613

)

At 31 March 2023

(34,342

)

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

9.	POST BALANCE SHEET EVENTS

The effect of events relating to the year ended 31 March 2023, which occurred before the date of approval of the financial statements by the director, have been included to the extent required to show a true and fair view of the state of affairs at 31 March 2023 and of the results of the year ended on that date.