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REGISTERED NUMBER: 14284342 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 9 AUGUST 2022 TO 31 AUGUST 2023

FOR

BUILDD 102 LTD

BUILDD 102 LTD (REGISTERED NUMBER: 14284342)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 9 AUGUST 2022 TO 31 AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BUILDD 102 LTD

COMPANY INFORMATION
FOR THE PERIOD 9 AUGUST 2022 TO 31 AUGUST 2023







DIRECTORS: L M R Coombs
D P Innes
D F Thomas





REGISTERED OFFICE: 1st Floor, Commerce House
1 Raven Road
South Woodford
London
E18 1HB





REGISTERED NUMBER: 14284342 (England and Wales)






BUILDD 102 LTD (REGISTERED NUMBER: 14284342)

BALANCE SHEET
31 AUGUST 2023

Notes £
CURRENT ASSETS
Stocks 2,253,971
Debtors 4 6,817
Cash at bank 29,824
2,290,612
CREDITORS
Amounts falling due within one year 5 1,643,878
NET CURRENT ASSETS 646,734
TOTAL ASSETS LESS CURRENT
LIABILITIES

646,734

CREDITORS
Amounts falling due after more than one
year

6

682,374
NET LIABILITIES (35,640 )

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings (35,740 )
(35,640 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 2023 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 3 November 2023 and were signed on its behalf by:



D P Innes - Director


BUILDD 102 LTD (REGISTERED NUMBER: 14284342)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 9 AUGUST 2022 TO 31 AUGUST 2023

1. STATUTORY INFORMATION

Buildd 102 Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 14284342 and registered office address is 1st Floor Commerce House, 1 Raven Road, South Woodford, London, E18 1HB.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets
Basic financial assets, which includes trade and other debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

BUILDD 102 LTD (REGISTERED NUMBER: 14284342)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 9 AUGUST 2022 TO 31 AUGUST 2023

2. ACCOUNTING POLICIES - continued

Financial assets are impaired where there is objective evidence that as a result of one or more events that occurred after an initial recognition of the financial asset, the estimated future cash flows have been affected. 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.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors and preference shares classed 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 payments discounted at a market rate of interest.

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

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire

Equity Instruments
Equity instruments issued by the company are recorded at the fair value of proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation
Taxation for the period 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 period 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.

BUILDD 102 LTD (REGISTERED NUMBER: 14284342)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 9 AUGUST 2022 TO 31 AUGUST 2023

2. ACCOUNTING POLICIES - continued

Going concern
At the balance sheet date, the company had net liabilities of £35,640. The directors believe that the company, with the bank and their continued support, has adequate resources to continue to operate. The financial statements do not include any adjustments that would result if support from the creditors was not continued. In making their assessment of the company as a going concern, the directors has considered the impact of other market conditions on the business and is confident that the company has sufficient liquidity for the forseeable future.The directors consider it appropriate to continue using the going concern basis in the preparation of the financial statements

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£
Other debtors 6,817

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£
Trade creditors 118,548
Amounts owed to group undertakings 100,380
Other creditors 1,424,950
1,643,878

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£
Bank loans 682,374

7. SECURED DEBTS

The following secured debts are included within creditors:

£
Bank loans 682,374

Metro Bank PLC has a fixed and floating charge over the development prroperty.

8. RELATED PARTY DISCLOSURES

Ultimate Parent Company

Buildd Limited owns 100% of the company's ordinary share capital.