Company Registration No. 10744914 (England and Wales)
VERTICAL BUILDERS LTD
Unaudited accounts
for the year ended 30 April 2024
VERTICAL BUILDERS LTD
Unaudited accounts
Contents
VERTICAL BUILDERS LTD
Company Information
for the year ended 30 April 2024
Company Number
10744914 (England and Wales)
Registered Office
1 Langford Bridbe Cottages Ongar Road
Kelvedon Hatch, Brentwood
England
CM15 0LB
Accountants
Agents For Accounting Ltd
Apex House, 2nd Floor
Grand Arcade
London
N12 0EH
VERTICAL BUILDERS LTD
Statement of financial position
as at 30 April 2024
Tangible assets
20,944
28,855
Cash at bank and in hand
30,589
228,674
Creditors: amounts falling due within one year
(17,236)
(61,317)
Net current assets
77,123
199,718
Called up share capital
100
100
Profit and loss account
97,967
228,473
Shareholders' funds
98,067
228,573
For the year ending 30 April 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 January 2025 and were signed on its behalf by
Klodian Murati
Director
Company Registration No. 10744914
VERTICAL BUILDERS LTD
Notes to the Accounts
for the year ended 30 April 2024
VERTICAL BUILDERS LTD is a private company, limited by shares, registered in England and Wales, registration number 10744914. The registered office is 1 Langford Bridbe Cottages Ongar Road, Kelvedon Hatch, Brentwood, England, CM15 0LB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Straight Line Method- 25 %
Motor vehicles
Straight Line Method- 20%
The company is currently involved in a dispute with a client regarding a project, with the disputed amount remaining unpaid. Given the uncertainty surrounding the resolution, no income related to this amount has been recognized in the financial statements. Subsequent to the year-end, a court ruling confirmed that the disputed amount is not recoverable, and the company will be unable to recover these funds.
VERTICAL BUILDERS LTD
Notes to the Accounts
for the year ended 30 April 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 May 2023
9,629
47,190
56,819
At 30 April 2024
11,906
47,190
59,096
At 1 May 2023
9,088
18,876
27,964
Charge for the year
750
9,438
10,188
At 30 April 2024
9,838
28,314
38,152
At 30 April 2024
2,068
18,876
20,944
At 30 April 2023
541
28,314
28,855
Amounts falling due within one year
Trade debtors
54,978
31,815
Deferred tax asset
964
546
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
1,079
34,350
Loans from directors
-
181
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Included in other debtors is a balance of £7,828 owed by the director of the company. This balance is unsecured and
interest free, with no fixed repayment terms.
VERTICAL BUILDERS LTD
Notes to the Accounts
for the year ended 30 April 2024
9
Average number of employees
During the year the average number of employees was 3 (2023: 1).