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We Build It Limited
Registered Number:03336776
For the year ended 31 March 2024
England and Wales
Unaudited Financial Statements
2
Registered Number :
03336776
As at 31 March 2024
We Build It Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Intangible assets
30,000
-
2
Property, plant and equipment
529,967
556,401
3
559,967
556,401
Current assets
Inventories
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
Capital and reserves
Called up share capital
2
2
Retained earnings
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.
D P Thompson Director
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.
Registered address:
Kings Nordley Farm
Kings Nordley
Bridgnorth
Shropshire
WV15 6EU
The presentation currency is £ sterling.
1. Accounting policies
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
20% Straight line
0% Straight line
Moulds
25% Straight line
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
Cost or valuation
£
Additions
30,000
At 31 March 2024
30,000
Net book value
At 31 March 2024
30,000
Goodwill purchased
3. Property, plant and equipment
Total
Motor vehicles
Plant and
machinery
Land and
buildings
£
£
£
£
Cost or
valuation
At 01 April 2023
700,742
160,237
178,573
361,932
26,656
-
26,656
-
Additions
At 31 March 2024
361,932
205,229
160,237
727,398
Provision for depreciation and impairment
At 01 April 2023
144,341
112,079
32,262
-
Charge for year
53,090
21,139
31,951
-
At 31 March 2024
197,431
133,218
64,213
-
At 31 March 2024
Net book value
361,932
141,016
27,019
529,967
At 31 March 2023
361,932
146,311
48,158
556,401
4. Inventories
2023
2024
£
£
Stocks
195,096
140,384
5. Trade and other receivables
2023
2024
£
£
Trade debtors
148,688
238,018
Other debtors
643,950
906,052
1,144,070
792,638
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5
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
£
£
Trade creditors
25,954
67,940
Taxation and social security
82,530
121,302
Other creditors
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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