IRIS Accounts Production v24.3.2.46 09584463 Board of Directors 1.6.23 31.5.24 31.5.24 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh095844632023-05-31095844632024-05-31095844632023-06-012024-05-31095844632022-05-31095844632022-06-012023-05-31095844632023-05-3109584463ns15:EnglandWales2023-06-012024-05-3109584463ns14:PoundSterling2023-06-012024-05-3109584463ns10:Director12023-06-012024-05-3109584463ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3109584463ns10:SmallEntities2023-06-012024-05-3109584463ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3109584463ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3109584463ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3109584463ns10:FullAccounts2023-06-012024-05-3109584463ns10:Director22023-06-012024-05-3109584463ns10:Director32023-06-012024-05-3109584463ns10:RegisteredOffice2023-06-012024-05-3109584463ns5:CurrentFinancialInstruments2024-05-3109584463ns5:CurrentFinancialInstruments2023-05-3109584463ns5:Non-currentFinancialInstruments2024-05-3109584463ns5:Non-currentFinancialInstruments2023-05-3109584463ns5:ShareCapital2024-05-3109584463ns5:ShareCapital2023-05-3109584463ns5:RetainedEarningsAccumulatedLosses2024-05-3109584463ns5:RetainedEarningsAccumulatedLosses2023-05-3109584463ns5:PlantMachinery2023-06-012024-05-3109584463ns5:PlantMachinery2023-05-3109584463ns5:PlantMachinery2024-05-3109584463ns5:AdditionsToInvestments2024-05-3109584463ns5:CostValuation2024-05-3109584463ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-3109584463ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-3109584463ns5:Secured2024-05-3109584463ns5:Secured2023-05-31
REGISTERED NUMBER: 09584463 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

BUILDD LIMITED

BUILDD LIMITED (REGISTERED NUMBER: 09584463)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BUILDD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Mr L M R Coombs
Mr D P Innes
Mr D F Thomas





REGISTERED OFFICE: Riverside House
1-5 Como Street
Romford
Essex
RM7 7DN





REGISTERED NUMBER: 09584463 (England and Wales)





ACCOUNTANTS: Clemence Hoar Cummings
Chartered Accountants
Riverside House
1-5 Como Street
Romford
Essex
RM7 7DN

BUILDD LIMITED (REGISTERED NUMBER: 09584463)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 - -
Investments 5 100 -
100 -

CURRENT ASSETS
Inventories 8,597,995 5,048,617
Debtors 6 102,431 123,801
Cash at bank and in hand 110,030 31,315
8,810,456 5,203,733
CREDITORS
Amounts falling due within one year 7 4,115,249 3,795,748
NET CURRENT ASSETS 4,695,207 1,407,985
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,695,307

1,407,985

CREDITORS
Amounts falling due after more than
one year

8

4,814,806

1,500,523
NET LIABILITIES (119,499 ) (92,538 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (119,501 ) (92,540 )
SHAREHOLDERS' FUNDS (119,499 ) (92,538 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

BUILDD LIMITED (REGISTERED NUMBER: 09584463)

BALANCE SHEET - continued
31 MAY 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 Board of Directors and authorised for issue on 19 November 2024 and were signed on its behalf by:





Mr D P Innes - Director


BUILDD LIMITED (REGISTERED NUMBER: 09584463)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Buildd Limited is a private company, limited by shares, registered in England & Wales, registration number 09584463. The registered office address is Riverside House, 1-5 Como Street, Romford, Essex, RM7 7DN.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which includes trade and other debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

BUILDD LIMITED (REGISTERED NUMBER: 09584463)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


2. ACCOUNTING POLICIES - continued

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that as a result of one or more events that occurred after an initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors and preference shares classed as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire

Equity Instruments
Equity instruments issued by the company are recorded at the fair value of proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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.


BUILDD LIMITED (REGISTERED NUMBER: 09584463)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


2. ACCOUNTING POLICIES - continued
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.

Going concern
The accounts are prepared on a going concern basis with on going support from the directors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - NIL ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 1,201
DEPRECIATION
At 1 June 2023
and 31 May 2024 1,201
NET BOOK VALUE
At 31 May 2024 -

5. FIXED ASSET INVESTMENTS
Other
investmen
£   
COST
Additions 100
At 31 May 2024 100
NET BOOK VALUE
At 31 May 2024 100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 80,880 -
Other debtors 21,551 123,801
102,431 123,801

BUILDD LIMITED (REGISTERED NUMBER: 09584463)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 84,505 524,264
Amounts owed to group undertakings 421 421
Other creditors 4,030,323 3,271,063
4,115,249 3,795,748

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 4,814,806 1,500,523

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 4,814,806 1,500,523

All legal interest in land on the north east side of Station Road, Felsted, Dunmow and any part or parts of it and including all rights attached or appurtenant to it and all buildings, fixtures, fittings and machinery from time to time situated on it.