Belvoir Associates Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 02547845 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2017

FOR

BELVOIR ASSOCIATES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

B A Blackwell

T C King

D Barton

G R Wiebkin

L King

V E Barton

SECRETARY:

B A Blackwell

REGISTERED OFFICE:

Unit 51

Pillings Road

Rutland

LE15 6QF

REGISTERED NUMBER:

02547845 (England and Wales)

ACCOUNTANTS:

Magma Audit LLP

340 Melton Road

Leicester

LE4 7SL

FIXED ASSETS

Tangible assets

4

408,170

411,157

CURRENT ASSETS

Stocks

244,060

335,425

Debtors

5

106,598

139,211

Cash at bank and in hand

1,001,068

979,751

1,351,726

1,454,387

CREDITORS

Amounts falling due within one year

6

482,129

514,036

NET CURRENT ASSETS

869,597

940,351

TOTAL ASSETS LESS CURRENT LIABILITIES

1,277,767

1,351,508

PROVISIONS FOR LIABILITIES

13,765

14,200

NET ASSETS

1,264,002

1,337,308

CAPITAL AND RESERVES

Called up share capital

7

1,998

1,998

Retained earnings

1,262,004

1,335,310

SHAREHOLDERS' FUNDS

1,264,002

1,337,308

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 17 May 2018 and were signed on its behalf by:

T C King - Director

1.	STATUTORY INFORMATION

Belvoir Associates Limited is a limited company, registered in England and Wales. Its registered office address

is Unit 51 Pillings Road, Oakham, Rutland, LE15 6QF and the registered number is 02547845.

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.

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

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is

provided at rates calculated to write off the cost less estimated residual value of each asset over its

expected useful life, as follows:

Land and buildings

2% straight line on buildings

Plant and machinery

25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based

on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and

attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is

reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in

profit or loss.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial

assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to

related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period

for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is

recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an

enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise

the asset and settle the liability simultaneously.

Taxation

The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised

as other comprehensive income or to an item recognised directly in equity is also recognised in other

comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by

the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered

against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have

been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

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.

Debtors

Basic financial assets, including trade and other debtors, 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. Such assets are subsequently carried at amortised cost

using the effective interest method, less any impairment.

Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and

other short-term highly liquid investments that mature in no more than three months from the date of acquisition

and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related

parties, 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 payments discounted at a market rate

of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less

any impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2016 - 38 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

land &

Plant and

buildings

machinery

Totals

£

£

£

COST

At 1 December 2016

368,895

300,995

669,890

Additions

-

23,081

23,081

At 30 November 2017

368,895

324,076

692,971

DEPRECIATION

At 1 December 2016

36,000

222,733

258,733

Charge for year

3,000

23,068

26,068

At 30 November 2017

39,000

245,801

284,801

NET BOOK VALUE

At 30 November 2017

329,895

78,275

408,170

At 30 November 2016

332,895

78,262

411,157

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.17

30.11.16

£

£

Trade debtors

42,284

82,663

Other debtors

29,039

35,126

Prepayments

35,275

21,422

106,598

139,211

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.17

30.11.16

£

£

Trade creditors

331,400

361,231

Corporation tax

25,978

61,868

Social security and other taxes

51,522

55,002

Other creditors

4,982

5,407

Directors' current accounts

10,700

-

Accruals and deferred income

57,547

30,528

482,129

514,036

7.	CALLED UP SHARE CAPITAL

2017

2016

£

£

Alloted, called up and fully paid

1,698 Ordinary £1 shares of £1 each

1,698

1,698

100 Ordinary 'A' £1 shares of £1 each

100

100

100 Ordinary 'B' £1 shares of £1 each

100

100

100 Ordinary 'C' £1 shares of £1 each

100

100

Total

1,998

1,998