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Registered number: 07408047
The Build Works Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07408047
2024 2023
Notes £ £ £ £
FIXED ASSETS
CURRENT ASSETS
Debtors 5 11,550 10,219
Cash at bank and in hand 3,748 1,375
15,298 11,594
Creditors: Amounts Falling Due Within One Year 6 (3,919 ) (5,589 )
NET CURRENT ASSETS (LIABILITIES) 11,379 6,005
TOTAL ASSETS LESS CURRENT LIABILITIES 11,379 6,005
Creditors: Amounts Falling Due After More Than One Year 7 (60,142 ) (84,677 )
NET LIABILITIES (48,763 ) (78,672 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (48,863 ) (78,772 )
SHAREHOLDERS' FUNDS (48,763) (78,672)
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr David Christopher Ross Ames
Director
28/10/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of ten years.
1.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing method
Motor Vehicles 25% straight line method
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: NIL (2023: NIL)
- -
3. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 3,150
As at 31 March 2024 3,150
Amortisation
As at 1 April 2023 3,150
As at 31 March 2024 3,150
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
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4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 April 2023 2,500
As at 31 March 2024 2,500
Depreciation
As at 1 April 2023 2,500
As at 31 March 2024 2,500
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 6,000 -
Inter Company - 2,063
Other Debtors - S455 Tax - 6,707
VAT 1,589 1,449
Director's loan account 3,961 -
11,550 10,219
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts - 3,827
Other taxes and social security 2,217 185
Other creditors 320 -
Accruals and deferred income 1,382 1,382
Director's loan account - 195
3,919 5,589
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 60,142 84,677
60,142 84,677
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr David Christopher Ross Ames - - - - 3,961
The above loan is unsecured, interest free and repayable on demand.
10. General Information
The Build Works Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07408047 . The registered office is Southerden House, Market Street, Hailsham, East Sussex, BN27 2AE.
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