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Registration number: 15027957

Build It Direct Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 24 July 2024

 

Build It Direct Ltd

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 12

 

Build It Direct Ltd

Company Information

Director

Mr George Baker

Registered office

c/o 65 Victoria Road
Polegate
East Sussex
BN26 6BY

Accountants

Hogarth Business Services Ltd
65 Victoria Road
Polegate
East Sussex
BN26 6BY

 

Build It Direct Ltd

Director's Report for the Year Ended 24 July 2024

The director presents his report and the financial statements for the year ended 24 July 2024.

Incorporation

The company was incorporated and commenced trading on 25 July 2023.

Directors of the company

The directors who held office during the year were as follows:

Mr Rupert Verrell - Director (appointed 25 July 2023 and ceased 1 January 2024)

Mr George Baker (appointed 1 January 2024)

Principal activity

The principal activity of the company is Property Development & Rentals

Going concern

No Going Concern issues.

Small companies provision statement

This report has 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.

Approved and authorised by the director on 17 September 2024
 

.........................................
Mr George Baker
Director

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Build It Direct Ltd
for the Year Ended 24 July 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Build It Direct Ltd for the year ended 24 July 2024 as set out on pages 4 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Build It Direct Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Build It Direct Ltd and state those matters that we have agreed to state to the Board of Directors of Build It Direct Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Build It Direct Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Build It Direct 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 loss of Build It Direct Ltd. You consider that Build It Direct 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 Build It Direct 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.

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

Hogarth Business Services Ltd
65 Victoria Road
Polegate
East Sussex
BN26 6BY

17 September 2024

 

Build It Direct Ltd

Profit and Loss Account for the Year Ended 24 July 2024

Note

2024
£

Turnover

 

79,480

Cost of sales

 

(822)

Gross profit

 

78,658

Administrative expenses

 

(130,523)

Operating loss

 

(51,865)

Loss before tax

(51,865)

Loss for the financial year

 

(51,865)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Build It Direct Ltd

Statement of Comprehensive Income for the Year Ended 24 July 2024

2024
£

Loss for the year

(51,865)

Total comprehensive income for the year

(51,865)

 

Build It Direct Ltd

(Registration number: 15027957)
Balance Sheet as at 24 July 2024

Note

2024
£

Creditors: Amounts falling due after more than one year

4

(51,865)

Capital and reserves

 

Retained earnings

(51,865)

Shareholders' deficit

 

(51,865)

For the financial year ending 24 July 2024 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.

Approved and authorised by the director on 17 September 2024
 

.........................................
Mr George Baker
Director

 

Build It Direct Ltd

Statement of Changes in Equity for the Year Ended 24 July 2024

Retained earnings
£

Total
£

Loss for the year

(51,865)

(51,865)

At 24 July 2024

(51,865)

(51,865)

 

Build It Direct Ltd

Notes to the Unaudited Financial Statements for the Year Ended 24 July 2024

1

General information

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

The address of its registered office is:
c/o 65 Victoria Road
Polegate
East Sussex
BN26 6BY

These financial statements were authorised for issue by the director on 17 September 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.

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.

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.

 

Build It Direct Ltd

Notes to the Unaudited Financial Statements for the Year Ended 24 July 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4.

4

Creditors

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

6

51,865

5

Share capital

6

Loans and borrowings

Non-current loans and borrowings

2024
£

Other borrowings

51,865

7

Related party transactions

 

Build It Direct Ltd

Notes to the Unaudited Financial Statements for the Year Ended 24 July 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

Remuneration

12,363

8

Transition to FRS 102

Balance Sheet at
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Total equity

-

-

-

-

 

Build It Direct Ltd

Notes to the Unaudited Financial Statements for the Year Ended 24 July 2024

Balance Sheet at
 

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Capital and reserves

Total equity

-

-

-

-

 

Build It Direct Ltd

Notes to the Unaudited Financial Statements for the Year Ended 24 July 2024

As originally reported
£

Reclassification
£

Remeasurement
£

As restated
£

Turnover

-

-

-

-

Operating profit/(loss)

-

-

-

-

Profit/(loss) before tax

-

-

-

-

Profit/(loss) for the financial year

-

-

-

-