Belgrave Homes Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08690237 (England and Wales)

Financial Statements for the Year Ended 31 December 2020

for

Belgrave Homes Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P Buchanan

Mrs A Buchanan

S P Haskett

SECRETARY:

Turner Hampton Secretaries Limited

REGISTERED OFFICE:

3 Wellington Business Park

Dukes Ride

Crowthorne

Berkshire

RG45 6LS

REGISTERED NUMBER:

08690237 (England and Wales)

ACCOUNTANTS:

Turner Hampton

Chartered Certified Accountants

238 Station Road

Addlestone

Surrey

KT15 2PS

FIXED ASSETS

Property, plant and equipment

4

340,696

366,214

Investments

5

-

1

340,696

366,215

CURRENT ASSETS

Inventories

2,941,937

4,380,657

Debtors

6

1,261,513

536,236

Cash at bank

2,945,945

3,063,868

7,149,395

7,980,761

CREDITORS

Amounts falling due within one year

7

(5,026,580

)

(6,891,827

)

NET CURRENT ASSETS

2,122,815

1,088,934

TOTAL ASSETS LESS CURRENT LIABILITIES

2,463,511

1,455,149

PROVISIONS FOR LIABILITIES

(10,026

)

(14,062

)

NET ASSETS

2,453,485

1,441,087

CAPITAL AND RESERVES

Called up share capital

102

100

Retained earnings

2,453,383

1,440,987

SHAREHOLDERS' FUNDS

2,453,485

1,441,087

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 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 Board of Directors and authorised for issue on 18 June 2021 and were signed on its behalf by:

P Buchanan - Director

1.	STATUTORY INFORMATION

Belgrave 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.

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.

Turnover

Turnover represents total sales and work done less credit notes, discounts and value added tax. Where contractual obligations have been partially performed at the balance sheet date, revenue is recognised to the extent that the company has obtained the right to consideration through its performance.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Motor vehicles

-

20% on cost

Plant & equipment

-

20% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% on cost

Office equipment

-

20% on cost

Stocks

Stock is valued at the lower of cost and net realisable value.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

Long term projects

Long term projects are assessed on a project by project basis and are reflected in the profit and loss account by recording turnover and related costs as contract activity progresses. Where the outcome of each long term project can be assessed with reasonable certainty before its conclusion, the attributable profit is recognised in the profit and loss account as the difference between the reported turnover and related costs for the project.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2019 - 5 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Freehold

Motor

Plant &

property

vehicles

equipment

£

£

£

COST

At 1 January 2020

313,248

55,093

51,973

Additions

-

-

750

At 31 December 2020

313,248

55,093

52,723

DEPRECIATION

At 1 January 2020

21,044

2,155

31,431

Charge for year

4,277

11,049

10,489

At 31 December 2020

25,321

13,204

41,920

NET BOOK VALUE

At 31 December 2020

287,927

41,889

10,803

At 31 December 2019

292,204

52,938

20,542

Fixtures

and

Computer

Office

fittings

equipment

equipment

Totals

£

£

£

£

COST

At 1 January 2020

4,020

1,342

3,702

429,378

Additions

-

-

-

750

At 31 December 2020

4,020

1,342

3,702

430,128

DEPRECIATION

At 1 January 2020

3,670

1,306

3,558

63,164

Charge for year

310

36

107

26,268

At 31 December 2020

3,980

1,342

3,665

89,432

NET BOOK VALUE

At 31 December 2020

40

-

37

340,696

At 31 December 2019

350

36

144

366,214

Included in cost of land and buildings is freehold land of £ 100,000 (2019 - £ 100,000 ) which is not depreciated.

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2020

1

Disposals

(1

)

At 31 December 2020

-

NET BOOK VALUE

At 31 December 2020

-

At 31 December 2019

1

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

1,358

-

Amounts recoverable on contract

746,250

-

Other debtors

513,905

536,236

1,261,513

536,236

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Payments on account

-

1,217,758

Trade creditors

168,714

342,951

Taxation and social security

251,618

56,354

Other creditors

4,606,248

5,274,764

5,026,580

6,891,827

8.	CONTINGENT LIABILITIES

There is a fixed and floating charge with The Royal Bank of Scotland which was created on 17 June 2016. The amount secured is all assets and rights of the company owned now or in the future which is not held as security by any other bank.

9.	ULTIMATE CONTROLLING PARTY

The company was controlled by Mr P Buchanan and Mrs A Buchanan throughout the period by virtue of their interest in the issued share capital of the company.