Belleville Springs Limited Filleted accounts for Companies House (small and micro)

Belleville Springs Limited Filleted accounts for Companies House (small and micro)

BELLEVILLE SPRINGS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 01337456
Belleville Springs Limited
Filleted Financial Statements
31 May 2023
Belleville Springs Limited
Financial Statements
Year ended 31 May 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Belleville Springs Limited
Statement of Financial Position
31 May 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
19,355
25,807
Current assets
Debtors
6
1,627,737
1,269,415
Cash at bank and in hand
33,008
27,021
------------
------------
1,660,745
1,296,436
Creditors: amounts falling due within one year
7
120,827
100,107
------------
------------
Net current assets
1,539,918
1,196,329
------------
------------
Total assets less current liabilities
1,559,273
1,222,136
------------
------------
Net assets
1,559,273
1,222,136
------------
------------
Capital and reserves
Called up share capital
8
500
500
Profit and loss account
1,558,773
1,221,636
------------
------------
Shareholders funds
1,559,273
1,222,136
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the board of directors and authorised for issue on 15 February 2024 , and are signed on behalf of the board by:
I R Whitehead
Director
Company registration number: 01337456
Belleville Springs Limited
Notes to the Financial Statements
Year ended 31 May 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Arthur Street, Lakeside, Redditch, Worcs, B98 9JY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when goods are physically delivered to the customer.
Tax
Current tax represents the amount of tax payable or receivable in respect of the 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 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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
15%/25% reducing balance
Motor Vehicles
-
25% reducing balance
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into, either as financial assets, financial liabilities or equity interests. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. Tangible assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 June 2022 and 31 May 2023
15,397
34,410
49,807
--------
--------
--------
Depreciation
At 1 June 2022
15,397
8,603
24,000
Charge for the year
–
6,452
6,452
--------
--------
--------
At 31 May 2023
15,397
15,055
30,452
--------
--------
--------
Carrying amount
At 31 May 2023
–
19,355
19,355
--------
--------
--------
At 31 May 2022
–
25,807
25,807
--------
--------
--------
6. Debtors
2023
2022
£
£
Trade debtors
293,275
302,282
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1,326,117
954,218
Other debtors
8,345
12,915
------------
------------
1,627,737
1,269,415
------------
------------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Social security and other taxes
101,096
64,793
Other creditors
19,731
35,314
---------
---------
120,827
100,107
---------
---------
There is an unlimited multilateral guarantee given by the group companies, held by the bank.
8. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
500
500
500
500
----
----
----
----
9. Events after the end of the reporting period
Although inflation has continued at a high level, and there are adverse interest rates, the company is continuing to trade profitably. It is expected that the profits before tax for the year ended 31st May 2024 will be similar to those for the year ended 31st May 2023.
10. Summary audit opinion
The auditor's report dated 15 February 2024 was unqualified .
The senior statutory auditor was Michael Holder , for and on behalf of Rigbey Harrison .
11. Controlling party
The company is a subsidiary of Springmasters Ltd ., an unlisted company registered in England and Wales whose registered office is Arthur Street, Redditch, Worcs, B98 8LF . Copies of the group accounts can be obtained from Companies House, Crown Way, Maindy, Cardiff.