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Registered number: 10021378
Build Logistics Ltd
Financial Statements
For The Year Ended 28 February 2024
Oakensen (Bristol) Limited
Chartered Accountants
Westbury Court Church Road
Westbury On Trym
Bristol
BS9 3EF
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10021378
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 48,614 8,435
Investment Properties 5 2,557,001 1,546,727
2,605,615 1,555,162
CURRENT ASSETS
Debtors 6 1,566 11,604
Cash at bank and in hand 6,565 170,665
8,131 182,269
Creditors: Amounts Falling Due Within One Year 7 (755,384 ) (576,356 )
NET CURRENT ASSETS (LIABILITIES) (747,253 ) (394,087 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,858,362 1,161,075
Creditors: Amounts Falling Due After More Than One Year 8 (1,125,173 ) (976,471 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (136,330 ) -
NET ASSETS 596,859 184,604
CAPITAL AND RESERVES
Called up share capital 9 2 2
Fair value reserve 10 372,530 -
Profit and Loss Account 224,327 184,602
SHAREHOLDERS' FUNDS 596,859 184,604
Page 1
Page 2
For the year ending 28 February 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 M Sheldon
Director
1 October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Build Logistics Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10021378 . The registered office is 4 Downend House Farm, Dovercourt Road, Bristol, BS7 9SH.
2. Accounting Policies
2.1. 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.
2.2. 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.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets, excluding Land and Buildings, 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:
Freehold Nil
Plant & Machinery 10% straight line
Fixtures & Fittings 25% straight line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3. Average Number of Employees
Average number of employees during the year was as follows: NIL (2023: NIL)
- -
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4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost or Valuation
As at 1 March 2023 - 19,863 19,863
Additions 45,380 5,309 50,689
As at 28 February 2024 45,380 25,172 70,552
Depreciation
As at 1 March 2023 - 11,428 11,428
Provided during the period 4,538 5,972 10,510
As at 28 February 2024 4,538 17,400 21,938
Net Book Value
As at 28 February 2024 40,842 7,772 48,614
As at 1 March 2023 - 8,435 8,435
5. Investment Property
2024
£
Fair Value
As at 1 March 2023 1,546,727
Additions 513,568
Revaluations 496,706
As at 28 February 2024 2,557,001
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 1,566 1,004
Amounts owed by group undertakings - 10,600
1,566 11,604
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 1
Bank loans and overdrafts 42,564 42,564
Corporation tax 7,269 16,601
Other creditors 150,796 795
Accruals and deferred income 1,950 3,121
Directors' loan accounts 8,180 10,184
Amounts owed to group undertakings 544,625 503,090
755,384 576,356
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 1,125,173 976,471
1,125,173 976,471
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
10. Reserves
Fair Value Reserve
£
Transfer to profit and loss 372,530
As at 28 February 2024 372,530
11. Related Party Transactions
Summary of transactions with entities with joint control or significant interest:
At the end of the year Build Clean (Bristol) Ltd, a company owned and controlled by the directors, was owed by Build Logistics Ltd the amount of £544,625 (2023 £503,090). The loan is interest free and repayable on demand.
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