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REGISTERED NUMBER: 05910441 (England and Wales)


















I BUILD (WALES) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023






I BUILD (WALES) LIMITED (REGISTERED NUMBER: 05910441)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


I BUILD (WALES) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: Mr I M James





SECRETARY: Mrs A M James





REGISTERED OFFICE: Hollyoaks
Broadway
Laugharne
Carmarthenshire
SA33 4NU





REGISTERED NUMBER: 05910441 (England and Wales)





ACCOUNTANTS: Llewelyn Davies
Chartered Accountants
Yelverton House
St John Street
Whitland
Carmarthenshire
SA34 0AW

I BUILD (WALES) LIMITED (REGISTERED NUMBER: 05910441)

ABRIDGED BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 148,691 101,242

CURRENT ASSETS
Stocks 41,010 18,601
Debtors 29,352 36,716
Cash at bank 57,677 144,572
128,039 199,889
CREDITORS
Amounts falling due within one year 105,209 145,217
NET CURRENT ASSETS 22,830 54,672
TOTAL ASSETS LESS CURRENT
LIABILITIES

171,521

155,914

CREDITORS
Amounts falling due after more than
one year

(37,680

)

(46,105

)

PROVISIONS FOR LIABILITIES (19,409 ) (19,236 )
NET ASSETS 114,432 90,573

CAPITAL AND RESERVES
Called up share capital 22 22
Retained earnings 114,410 90,551
SHAREHOLDERS' FUNDS 114,432 90,573

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps 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 Sections 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.

I BUILD (WALES) LIMITED (REGISTERED NUMBER: 05910441)

ABRIDGED BALANCE SHEET - continued
30 NOVEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 November 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 November 2024 and were signed by:





Mr I M James - Director


I BUILD (WALES) LIMITED (REGISTERED NUMBER: 05910441)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

I Build (Wales) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on a going concern basis as in the directors opinion the company has sufficient funds and future income to continue into the foreseeable future.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost
Motor vehicles - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

I BUILD (WALES) LIMITED (REGISTERED NUMBER: 05910441)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 December 2022 370,034
Additions 114,547
At 30 November 2023 484,581
DEPRECIATION
At 1 December 2022 268,792
Charge for year 67,098
At 30 November 2023 335,890
NET BOOK VALUE
At 30 November 2023 148,691
At 30 November 2022 101,242

I BUILD (WALES) LIMITED (REGISTERED NUMBER: 05910441)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 December 2022
and 30 November 2023 176,531
DEPRECIATION
At 1 December 2022 157,309
Charge for year 26,767
At 30 November 2023 184,076
NET BOOK VALUE
At 30 November 2023 (7,545 )
At 30 November 2022 19,222

5. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 25,654 35,480
Hire purchase contracts 62,542 49,916
88,196 85,396

The bank overdraft and loans are secured by a fixed and floating charge over the company's assets and by a personal guarantee of the directors of £47,500.

6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
Mr I M James and Mr M L Evans
Balance outstanding at start of year (6,284 ) 7,176
Amounts advanced 1,483 -
Amounts repaid - (13,460 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (4,801 ) (6,284 )