Registered number
04663548
BUILDMART LTD
Filleted Accounts
29 February 2024
BUILDMART LTD
Registered number: 04663548
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,407,545 1,407,216
Current assets
Debtors 4 111,900 230,139
Cash at bank and in hand 276,020 173,322
387,920 403,461
Creditors: amounts falling due within one year 5 (107,697) (118,808)
Net current assets 280,223 284,653
Total assets less current liabilities 1,687,768 1,691,869
Creditors: amounts falling due after more than one year 6 (711,092) (797,010)
Net assets 976,676 894,859
Capital and reserves
Called up share capital 2,000 2,000
Profit and loss account 974,676 892,859
Shareholders' funds 976,676 894,859
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
O F Alimahomed
Director
Approved by the board on 22 November 2024
BUILDMART LTD
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment - 10% per annum on cost
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are recognised at transaction price including any transaction costs.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Investment Properties Fixtures & equipment Total
£ £ £
Cost
At 1 March 2023 1,406,122 1,216 1,407,338
Additions - 500 500
At 29 February 2024 1,406,122 1,716 1,407,838
Depreciation
At 1 March 2023 - 122 122
Charge for the year - 171 171
At 29 February 2024 - 293 293
Net book value
At 29 February 2024 1,406,122 1,423 1,407,545
At 28 February 2023 1,406,122 1,094 1,407,216
4 Debtors 2024 2023
£ £
Trade debtors 108,238 229,948
Prepayments 58 191
Other debtors 3,604 -
111,900 230,139
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 28,609
Trade creditors 36,579 26,529
Taxation and social security costs 47,641 41,745
Accruals 19,508 17,956
Other creditors 3,969 3,969
107,697 118,808
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 207,226
Other creditors 711,092 589,784
711,092 797,010
7 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years - 95,726
Secured bank loans - 235,835
The bank loan is secured by means of legal charges over the freehold invetment properties owned by the company.
8 Other information
BUILDMART LTD is a private company limited by shares and incorporated in England. Its registered office is:
128A Evington Road
Leicester
LE2 1HL
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