Belvoir Interior Homes Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 05987817 (England and Wales)

BELVOIR INTERIOR HOMES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2017

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

7

Chartered Accountants' Report

8

DIRECTOR:

J I Cook

SECRETARY:

Mrs J E Rose

REGISTERED OFFICE:

August House

Low Road

Besthorpe

Newark

Nottinghamshire

NG23 7HJ

REGISTERED NUMBER:

05987817 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

14 London Road

Newark

Nottinghamshire

NG24 1TW

FIXED ASSETS

Tangible assets

3

12,347

17,678

Investment property

4

375,000

371,262

387,347

388,940

CURRENT ASSETS

Debtors

5

447

-

Cash at bank

10,487

12,748

10,934

12,748

CREDITORS

Amounts falling due within one year

6

243,277

251,891

NET CURRENT LIABILITIES

(232,343

)

(239,143

)

TOTAL ASSETS LESS CURRENT LIABILITIES

155,004

149,797

CREDITORS

Amounts falling due after more than one year

7

(76,675

)

(85,704

)

PROVISIONS FOR LIABILITIES

(2,099

)

(65

)

NET ASSETS

76,230

64,028

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

9

3,738

-

Retained earnings

72,392

63,928

SHAREHOLDERS' FUNDS

76,230

64,028

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 27 March 2017 and were signed by:

J I Cook - Director

1.	STATUTORY INFORMATION

Belvoir Interior Homes 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.

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 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 statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements for the year ended 31 January 2017 are the first financial statements of Belvoir Interior Homes Limited

prepared in accordance with FRS 102. No adjustments were required on transition.

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.

Plant and machinery etc

-

25% on reducing balance and 20% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised

in profit or loss.

Financial instruments

The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless

the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts

discounted at a market rate of interest.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If

an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash

flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b)

substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been

transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing

additional restrictions.

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares

that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction,

where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current

liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective

interest method.

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.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2016

27,137

Additions

14,030

Disposals

(20,500

)

At 31 January 2017

20,667

DEPRECIATION

At 1 February 2016

9,459

Charge for year

3,986

Eliminated on disposal

(5,125

)

At 31 January 2017

8,320

NET BOOK VALUE

At 31 January 2017

12,347

At 31 January 2016

17,678

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2016

371,262

Revaluations

3,738

At 31 January 2017

375,000

NET BOOK VALUE

At 31 January 2017

375,000

At 31 January 2016

371,262

Cost or valuation at 31 January 2017 is represented by:

£

Valuation in 2017

3,638

Cost

371,362

375,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.17

31.1.16

£

£

Other debtors

447

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.17

31.1.16

£

£

Bank loans and overdrafts

9,030

9,029

Trade creditors

926

4,274

Taxation and social security

6,546

9,319

Other creditors

226,775

229,269

243,277

251,891

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.17

31.1.16

£

£

Bank loans

76,675

85,704

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

40,561

49,590

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.17

31.1.16

£

£

Bank loans

85,705

94,733

Bank loans are secured by a fixed charge on the company's investment property.

9.

RESERVES

Revaluation

reserve

£

Transfer to revaluation

reserve

3,738

At 31 January 2017

3,738

The aggregate surplus on re-measurement of investment properties, net of associated deferred tax, is transferred to a separate

non-distributable revaluation reserve in order to assist with the identification of profits available for distribution.

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £5,000 (2016 - £20,000) were paid to the director .

The following reproduces the text of the report prepared for the director and members in respect of the company's annual unaudited

financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position.

Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to

be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Belvoir

Interior Homes Limited for the year ended 31 January 2017 which comprise the Income Statement, Statement of Financial Position, and the

related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Belvoir Interior Homes Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Belvoir Interior Homes Limited and state those matters that we have agreed to state to the director of Belvoir Interior Homes Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Belvoir Interior Homes Limited director for our work or for this report.

It is your duty to ensure that Belvoir Interior Homes Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Belvoir Interior Homes Limited. You consider that Belvoir Interior Homes Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Belvoir Interior Homes Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Duncan & Toplis Limited

14 London Road

Newark

Nottinghamshire

NG24 1TW

27 March 2017