The Build Chain Ltd. 13246782 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is software development for the construction industry Digita Accounts Production Advanced 6.30.9574.0 true true true 13246782 2023-02-01 2024-01-31 13246782 2024-01-31 13246782 core:RetainedEarningsAccumulatedLosses 2024-01-31 13246782 core:ShareCapital 2024-01-31 13246782 core:CurrentFinancialInstruments 2024-01-31 13246782 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 13246782 core:FurnitureFittingsToolsEquipment 2024-01-31 13246782 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-01-31 13246782 core:ParentEntities 2024-01-31 13246782 bus:SmallEntities 2023-02-01 2024-01-31 13246782 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 13246782 bus:FullAccounts 2023-02-01 2024-01-31 13246782 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 13246782 bus:RegisteredOffice 2023-02-01 2024-01-31 13246782 bus:Director1 2023-02-01 2024-01-31 13246782 bus:Director2 2023-02-01 2024-01-31 13246782 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13246782 core:ComputerEquipment 2023-02-01 2024-01-31 13246782 core:FurnitureFittings 2023-02-01 2024-01-31 13246782 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 13246782 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-02-01 2024-01-31 13246782 core:ParentEntities 2023-02-01 2024-01-31 13246782 1 2023-02-01 2024-01-31 13246782 countries:EnglandWales 2023-02-01 2024-01-31 13246782 2023-01-31 13246782 core:FurnitureFittingsToolsEquipment 2023-01-31 13246782 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-01-31 13246782 core:ParentEntities 2023-01-31 13246782 2022-02-01 2023-01-31 13246782 2023-01-31 13246782 core:RetainedEarningsAccumulatedLosses 2023-01-31 13246782 core:ShareCapital 2023-01-31 13246782 core:CurrentFinancialInstruments 2023-01-31 13246782 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 13246782 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2023-01-31 13246782 core:FurnitureFittingsToolsEquipment 2023-01-31 13246782 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-01-31 13246782 core:ParentEntities 2023-01-31 13246782 core:PreviouslyStatedAmount 2023-01-31 13246782 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-02-01 2023-01-31 13246782 core:ParentEntities 2022-02-01 2023-01-31 13246782 2022-01-31 13246782 core:ParentEntities 2022-01-31 iso4217:GBP xbrli:pure

Registration number: 13246782

The Build Chain Ltd.

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

The Build Chain Ltd.

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

The Build Chain Ltd.

(Registration number: 13246782)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

8,103

12,652

Current assets

 

Debtors

5

24,368

29,860

Cash at bank and in hand

 

24,336

140,677

 

48,704

170,537

Creditors: Amounts falling due within one year

6

(1,003,599)

(653,305)

Net current liabilities

 

(954,895)

(482,768)

Net liabilities

 

(946,792)

(470,116)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(946,793)

(470,117)

Shareholders' deficit

 

(946,792)

(470,116)

For the financial year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 February 2024 and signed on its behalf by:
 

 

The Build Chain Ltd.

(Registration number: 13246782)
Balance Sheet as at 31 January 2024

.........................................
Mr M W McClune
Director

.........................................
Mr N Sheldon
Director

 

The Build Chain Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Doncaster Business Innovation Centre
Ten Pound Walk
Doncaster
South Yorkshire
DN4 5HX

These financial statements were authorised for issue by the Board on 22 February 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis but for the reasons set out in the directors report this may not be appropriate.

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.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

 

The Build Chain Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Tax

The tax expense for the period comprises current 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.

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

Furniture and fittings

4 years straight line basis

Computer equipment

3 years straight line basis

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.

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.

 

The Build Chain Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 6).

 

The Build Chain Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

18,078

18,078

Additions

997

997

At 31 January 2024

19,075

19,075

Depreciation

At 1 February 2023

5,426

5,426

Charge for the year

5,546

5,546

At 31 January 2024

10,972

10,972

Carrying amount

At 31 January 2024

8,103

8,103

At 31 January 2023

12,652

12,652

5

Debtors

2024
£

2023
£

Other debtors

13,512

12,793

Prepayments

10,856

17,067

24,368

29,860

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

35,204

12,117

Taxation and social security

 

6,361

5,736

Other creditors

 

933,012

620,157

Accrued expenses

 

29,022

15,295

 

1,003,599

653,305

7

Related party transactions

Loans to related parties

 

The Build Chain Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

2024

Key management
£

Total
£

At start of period

300

300

Repaid

(300)

(300)

At end of period

-

-

2023

Key management
£

Total
£

Advanced

300

300

At end of period

300

300

Loans from related parties

2024

Parent
£

Total
£

At start of period

619,999

619,999

Advanced

300,000

300,000

Interest transactions

12,677

12,677

At end of period

932,676

932,676

2023

Parent
£

Total
£

At start of period

219,986

219,986

Advanced

400,013

400,013

At end of period

619,999

619,999

8

Parent and ultimate parent undertaking

The company's immediate parent is NTUK Technology Limited, incorporated in England and Wales.