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Registration number: 08683343

Builder (UK) Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2021

 

Builder (UK) Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

Builder (UK) Ltd

Company Information

Director

R K Morton

Registered office

C/o Bissell & Brown
Charter House
56 High Street
Sutton Coldfield
West Midlands
B72 1UJ

Accountants

Bissell & Brown Midlands Ltd
Chartered Certified Accountants
Charter House
56 High Street
Sutton Coldfield
West Midlands
B72 1UJ

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Builder (UK) Ltd
for the Year Ended 30 September 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Builder (UK) Ltd for the year ended 30 September 2021 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.

This report is made solely to the Board of Directors of Builder (UK) Ltd, as a body, in accordance with the terms of our engagement letter dated 1 June 2021. Our work has been undertaken solely to prepare for your approval the accounts of Builder (UK) Ltd and state those matters that we have agreed to state to the Board of Directors of Builder (UK) Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/october/factsheet-163-audit-
exempt-companies.html.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Builder (UK) Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Builder (UK) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Builder (UK) Ltd. You consider that Builder (UK) Ltd 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 accounts of Builder (UK) Ltd. 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 accounts.

......................................

Bissell & Brown Midlands Ltd
Chartered Certified Accountants
Charter House
56 High Street
Sutton Coldfield
West Midlands
B72 1UJ


30 June 2022

 

Builder (UK) Ltd

(Registration number: 08683343)
Balance Sheet as at 30 September 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

6

2,002

1,941

Current assets

 

Debtors

7

4,066

31,308

Cash at bank and in hand

 

82,571

38,951

 

86,637

70,259

Creditors: Amounts falling due within one year

8

(22,781)

(25,397)

Net current assets

 

63,856

44,862

Total assets less current liabilities

 

65,858

46,803

Provisions for liabilities

(380)

-

Net assets

 

65,478

46,803

Capital and reserves

 

Called up share capital

9

1

1

Profit and loss account

65,477

46,802

Total equity

 

65,478

46,803

For the financial year ending 30 September 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report or the Profit and Loss Account has been taken.

Approved and authorised by the director on 30 June 2022
 

.........................................
R K Morton
Director

   
     
 

Builder (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2021

1

General information

The company is a private company limited by share capital, incorporated in England & Wales. The company's registration number is 08683343.

The address of its registered office is:
C/o Bissell & Brown
Charter House
56 High Street
Sutton Coldfield
West Midlands
B72 1UJ
United Kingdom

The principal place of business is:
10 Scholars Court
180 Tythe Barn Lane
Solihull
West Midlands
B90 1PF

These financial statements were authorised for issue by the director on 30 June 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity, and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Builder (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2021 (continued)

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Builder (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2021 (continued)

2

Accounting policies (continued)

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed (including the director) during the year was 1 (2020 - 1).

4

Profit before tax

Arrived at after charging/(crediting)

2021
 £

2020
 £

Depreciation expense

885

647

5

Taxation

Deferred tax

Deferred tax assets and liabilities

2021

Liability
£

Accelerated tax depreciation

380

   
 

Builder (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2021 (continued)

6

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 October 2020

2,588

2,588

Additions

946

946

At 30 September 2021

3,534

3,534

Depreciation

At 1 October 2020

647

647

Charge for the year

885

885

At 30 September 2021

1,532

1,532

Carrying amount

At 30 September 2021

2,002

2,002

At 30 September 2020

1,941

1,941

7

Debtors

2021
£

2020
£

Trade debtors

80

23,329

Other debtors

3,985

7,978

Called up share capital not paid

1

1

4,066

31,308

8

Creditors

Creditors: amounts falling due within one year

Note

2021
£

2020
£

Due within one year

 

Loans and borrowings

8.1

5,181

7,459

Taxation and social security

 

9,321

2,871

Accrued expenses

 

2,325

2,325

Corporation tax liability

 

5,954

12,742

 

22,781

25,397

 

Builder (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2021 (continued)

8

Creditors (continued)

8.1

Loans and borrowings

2021
£

2020
£

Current loans and borrowings

Loans from directors

5,181

7,459

9

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

         

Rights, preferences and restrictions

Ordinary shares have the following rights, preferences and restrictions:
Holders of the ordinary share capital have a right to vote and receive dividends.