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REGISTERED NUMBER: 12391990 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 April 2024

for

BUILDING FUTURES HOLDINGS LTD

BUILDING FUTURES HOLDINGS LTD (REGISTERED NUMBER: 12391990)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BUILDING FUTURES HOLDINGS LTD

Company Information
for the Year Ended 30 April 2024







DIRECTOR: J Trigg





REGISTERED OFFICE: The Mill Building
31 Chatsworth Road
Worthing
West Sussex
BN11 1LY





REGISTERED NUMBER: 12391990 (England and Wales)





ACCOUNTANTS: Paddenburg & Co Limited
100 Church Street
Brighton
East Sussex
BN1 1UJ

BUILDING FUTURES HOLDINGS LTD (REGISTERED NUMBER: 12391990)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,500,000 1,815,150

CURRENT ASSETS
Debtors: amounts falling due within one
year

5

73,901

17,901
Debtors: amounts falling due after more
than one year

5

-

61,000
Cash at bank 800 1,902
74,701 80,803
CREDITORS
Amounts falling due within one year 6 155,862 149,506
NET CURRENT LIABILITIES (81,161 ) (68,703 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,418,839

1,746,447

CREDITORS
Amounts falling due after more than one
year

7

(1,646,877

)

(1,664,755

)

PROVISIONS FOR LIABILITIES 8 (171,212 ) -
NET ASSETS 600,750 81,692

CAPITAL AND RESERVES
Called up share capital 1,500 1,500
Revaluation reserve 9 513,638 -
Retained earnings 85,612 80,192
600,750 81,692

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

BUILDING FUTURES HOLDINGS LTD (REGISTERED NUMBER: 12391990)

Balance Sheet - continued
30 April 2024


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

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 8 January 2025 and were signed by:





J Trigg - Director


BUILDING FUTURES HOLDINGS LTD (REGISTERED NUMBER: 12391990)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Building Futures Holdings Ltd 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 as modified by the revaluation of certain assets.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 1,815,150
Revaluations 684,850
At 30 April 2024 2,500,000
NET BOOK VALUE
At 30 April 2024 2,500,000
At 30 April 2023 1,815,150

BUILDING FUTURES HOLDINGS LTD (REGISTERED NUMBER: 12391990)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. INVESTMENT PROPERTY - continued

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2024 684,850
Cost 1,815,150
2,500,000

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 72,901 16,901
Amounts owed by participating interests 1,000 1,000
73,901 17,901

Amounts falling due after more than one year:
Trade debtors - 61,000

Aggregate amounts 73,901 78,901

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 23,803 22,422
Trade creditors 392 -
Tax 13,002 18,912
VAT 67,977 42,508
Other creditors 48,188 63,164
Accrued expenses 2,500 2,500
155,862 149,506

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 25,265 23,803
Bank loans - 2-5 years 85,455 80,531
Bank loans more 5 yr by instal 1,030,582 1,060,771
Other creditors 505,575 499,650
1,646,877 1,664,755

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,030,582 1,060,771

BUILDING FUTURES HOLDINGS LTD (REGISTERED NUMBER: 12391990)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 171,212 -

Deferred
tax
£   
Provided during year 171,212
Balance at 30 April 2024 171,212

9. RESERVES
Revaluation
reserve
£   
Revaluation 684,850
Deferred tax adjustment (171,212 )

At 30 April 2024 513,638

10. RELATED PARTY DISCLOSURES

In the year, the company was in receipt of rental income totalling £120,000 (2023: £120,000) from Freedom Works Ltd.

J Trigg is the director and a controlling shareholder of Freedom Works Ltd.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J Trigg, by the virtue of his control over FanDobbyDozy LLP.

FanDobbyDozy LLP holds 67% of the total issued share capital in the company.