Acorah Software Products - Accounts Production 16.1.300 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 05132687 Mr Jason Folley Mr Jason Hayes iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05132687 2023-05-31 05132687 2024-05-31 05132687 2023-06-01 2024-05-31 05132687 frs-core:CurrentFinancialInstruments 2024-05-31 05132687 frs-core:Non-currentFinancialInstruments 2024-05-31 05132687 frs-core:ComputerEquipment 2023-06-01 2024-05-31 05132687 frs-core:FurnitureFittings 2023-06-01 2024-05-31 05132687 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 05132687 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-05-31 05132687 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 05132687 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-05-31 05132687 frs-core:MotorVehicles 2024-05-31 05132687 frs-core:MotorVehicles 2023-06-01 2024-05-31 05132687 frs-core:MotorVehicles 2023-05-31 05132687 frs-core:PlantMachinery 2024-05-31 05132687 frs-core:PlantMachinery 2023-06-01 2024-05-31 05132687 frs-core:PlantMachinery 2023-05-31 05132687 frs-core:CapitalRedemptionReserve 2024-05-31 05132687 frs-core:RevaluationReserve 2023-05-31 05132687 frs-core:RevaluationReserve 2024-05-31 05132687 frs-core:ShareCapital 2024-05-31 05132687 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 05132687 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 05132687 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 05132687 frs-bus:SmallEntities 2023-06-01 2024-05-31 05132687 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 05132687 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 05132687 frs-bus:Director1 2023-06-01 2024-05-31 05132687 frs-bus:Director2 2023-06-01 2024-05-31 05132687 frs-countries:EnglandWales 2023-06-01 2024-05-31 05132687 2022-05-31 05132687 2023-05-31 05132687 2022-06-01 2023-05-31 05132687 frs-core:CurrentFinancialInstruments 2023-05-31 05132687 frs-core:Non-currentFinancialInstruments 2023-05-31 05132687 frs-core:WithinOneYear 2023-05-31 05132687 frs-core:CapitalRedemptionReserve 2023-05-31 05132687 frs-core:RevaluationReserve 2023-05-31 05132687 frs-core:ShareCapital 2023-05-31 05132687 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 05132687
Buildex Construction Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
iLex Accountancy Services Ltd
41 Brunswick Road
Gloucester
GL1 1JS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05132687
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,241,291 1,235,537
1,241,291 1,235,537
CURRENT ASSETS
Stocks 5 19,913 26,550
Debtors 6 24,786 22,046
Cash at bank and in hand 592,963 602,864
637,662 651,460
Creditors: Amounts Falling Due Within One Year 7 (319,579 ) (320,811 )
NET CURRENT ASSETS (LIABILITIES) 318,083 330,649
TOTAL ASSETS LESS CURRENT LIABILITIES 1,559,374 1,566,186
Creditors: Amounts Falling Due After More Than One Year 8 (283,383 ) (385,525 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (85,171 ) (85,813 )
NET ASSETS 1,190,820 1,094,848
CAPITAL AND RESERVES
Called up share capital 10 66 66
Revaluation reserve 11 361,823 361,823
Capital redemption reserve 33 33
Profit and Loss Account 828,898 732,926
SHAREHOLDERS' FUNDS 1,190,820 1,094,848
Page 1
Page 2
For the year ending 31 May 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 Jason Folley
Director
21/10/2024
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
Buildex Construction Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05132687 . The registered office is Unit 6 Stanley Court Edison Close, Waterwells Business Park Quedgeley, Gloucester, Gloucestershire, GL2 2AE.
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.
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.
2.3. 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:
Freehold Nil
Leasehold Nil
Plant & Machinery Over 4 Years
Motor Vehicles Over 4 Years
Fixtures & Fittings Over 4 Years
Computer Equipment Over 4 Years
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Page 3
Page 4
2.6. 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.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 6)
6 6
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Total
£ £ £ £
Cost
As at 1 June 2023 1,230,000 68,260 76,568 1,374,828
Additions 9,717 125 - 9,842
As at 31 May 2024 1,239,717 68,385 76,568 1,384,670
Depreciation
As at 1 June 2023 - 62,723 76,568 139,291
Provided during the period - 4,088 - 4,088
As at 31 May 2024 - 66,811 76,568 143,379
Net Book Value
As at 31 May 2024 1,239,717 1,574 - 1,241,291
As at 1 June 2023 1,230,000 5,537 - 1,235,537
5. Stocks
2024 2023
£ £
Work in progress 19,913 26,550
Page 4
Page 5
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 18,714 15,995
Prepayments and accrued income 6,072 6,051
24,786 22,046
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 3,814
Trade creditors 31,315 33,312
Bank loans and overdrafts 83,687 95,783
Corporation tax 56,452 42,426
Other taxes and social security 5,736 5,951
VAT 42,654 27,126
Net wages - 4,370
Accruals and deferred income - 995
Directors' loan accounts 99,735 107,034
319,579 320,811
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 283,383 385,525
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 3,814
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 66 66
11. Reserves
Revaluation Reserve
£
As at 1 June 2023 361,823
As at 31 May 2024 361,823
Page 5