Registered Number:03336776 |
For the year ended 31 March 2024
England and Wales
Unaudited Financial Statements
We Build It Limited
Statement of Financial Position
2023
2024
30,000
-
2
Property, plant and equipment |
529,967
556,401
3
559,967
556,401
140,384
195,096
4
Trade and other receivables |
1,144,070
792,638
5
491,362
Cash and cash equivalents |
740,005
1,727,739
1,775,816
Trade and other payables: amounts falling due within one |
year |
(236,882)
(178,729)
6
1,538,934
1,549,010
Net current assets
Total assets less current liabilities |
2,108,977
2,095,335
(31,927)
(36,949)
Provisions for liabilities |
2,077,050
Net assets
2,058,386
2
2
2,077,048
2,058,384
2,077,050
2,058,386
Shareholders' funds
For the year ended 31 March 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
These financial statements were approved and authorised for issue by the Board on 01 August 2024 and were signed by: |
The notes form part of these financial statements |
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For the year ended 31 March 2024
We Build It Limited
Notes to the Financial Statements
Statutory Information
We Build It Limited is a private limited company, limited by shares, domiciled in England and Wales, registration |
number 03336776. |
Kings Nordley Farm
Kings Nordley
Bridgnorth
Shropshire
WV15 6EU
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the |
Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
modified by the revaluation of certain assets. |
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Plant and machinery
Moulds
Motor vehicles
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. The finance element of the rental payment is charged to the profit and loss account on a straight line basis. |
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For the year ended 31 March 2024
We Build It Limited
Notes to the Financial Statements Continued
2. Intangible fixed assets |
Goodwill
30,000
30,000
30,000
Goodwill purchased
3. Property, plant and equipment |
Motor vehicles
700,742
160,237
178,573
361,932
26,656
-
26,656
-
361,932
205,229
160,237
727,398
Provision for depreciation and impairment |
144,341
112,079
32,262
-
Charge for year
53,090
21,139
31,951
-
197,431
133,218
64,213
-
361,932
141,016
27,019
529,967
361,932
146,311
48,158
556,401
2023
2024
195,096
140,384
5. Trade and other receivables |
2023
2024
148,688
238,018
643,950
906,052
1,144,070
792,638
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For the year ended 31 March 2024
We Build It Limited
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due within one year |
2023
2024
25,954
67,940
Taxation and social security |
82,530
121,302
70,245
47,640
178,729
236,882
7. Related party transactions |
Ordinary dividends paid to D P Thompson in his capacity as a shareholder amounted to £42,250 (2023 - £50,000). |
During the year ended 31st March 2022 the company was controlled by D P Thompson, a director, together with |
members of his close family by virtue of a 100% interest in the issued ordinary shares. |
8. Average number of persons employed |
During the year the average number of employees was 9 (2023 : 10)
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