Belintech Limited
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Notes to the Accounts |
for the year ended 31 December 2019
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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Turnover |
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Turnover is attributable to the sale of computer equipment and electronic peripherals. Turnover is recorded net of VAT and recognised when significant risks and rewards of ownership of the goods have been transferred to the customer, which is usually when the Company has sold or delivered goods to the customer, the customer has accepted the goods and collectability of the related receivable is reasonably assured.
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
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Plant and machinery |
33% on cost |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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2 |
Employees |
2019 |
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2018 |
Number |
Number |
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Average number of persons employed by the company |
3 |
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3 |
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3 |
Tangible fixed assets |
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Plant and machinery etc |
$ |
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Cost |
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At 1 January 2019 |
18,920 |
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Additions |
1,299 |
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At 31 December 2019 |
20,219 |
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Depreciation |
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At 1 January 2019 |
13,987 |
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Charge for the year |
5,004 |
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At 31 December 2019 |
18,991 |
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Net book value |
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At 31 December 2019 |
1,228 |
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At 31 December 2018 |
4,933 |
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4 |
Debtors |
2019 |
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2018 |
$ |
$ |
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Trade debtors |
2,284,878 |
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411,919 |
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5 |
Creditors: amounts falling due within one year |
2019 |
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2018 |
$ |
$ |
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Trade creditors |
2,327,908 |
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2,873,506 |
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Corporation tax |
6,063 |
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16,941 |
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Other taxes and social security costs |
357 |
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- |
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Other creditors |
5,358 |
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66,860 |
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2,339,686 |
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2,957,307 |
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6 |
Ultimate Controlling party |
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The beneficial owner and ultimate controlling party is A Zadoika by virtue of 100% shareholding in issued share capital of the company.
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7 |
Other information |
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Belintech Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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41 Chancery House |
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Levett Square |
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Richmond |
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TW9 4FD |