REGISTERED NUMBER: |
Unaudited Financial Statements For The Year Ended 31st March 2024 |
for |
Buildsmith Brighton Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements For The Year Ended 31st March 2024 |
for |
Buildsmith Brighton Limited |
Buildsmith Brighton Limited (Registered number: 08916943) |
Contents of the Financial Statements |
For The Year Ended 31st March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Buildsmith Brighton Limited |
Company Information |
For The Year Ended 31st March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
106 Charter Avenue |
Ilford |
Essex |
IG2 7AD |
Buildsmith Brighton Limited (Registered number: 08916943) |
Balance Sheet |
31st March 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks | 4 |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Buildsmith Brighton Limited (Registered number: 08916943) |
Notes to the Financial Statements |
For The Year Ended 31st March 2024 |
1. | STATUTORY INFORMATION |
Buildsmith Brighton Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales, excluding value added tax. |
Tangible fixed assets |
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 stocks to their present location and condition. |
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 |
4. | STOCKS |
31.3.24 | 31.3.23 |
£ | £ |
Work-in-progress |
Buildsmith Brighton Limited (Registered number: 08916943) |
Notes to the Financial Statements - continued |
For The Year Ended 31st March 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans and overdrafts |
Other creditors |
Directors' current accounts | 4,644 | 49,596 |
Accrued expenses |
7. | RELATED PARTY DISCLOSURES |
Build Brighton and Hove Limited, a company in which one director has material interest, was owed £43,028 (2023 - £7,885) by way of interest free loans made to the company during the year. |
During the accounting period the directors lent various sums to the company and the movement in the loans is disclosed in the notes to the accounts. |
The loans are interest free and have no repayment date. |
The company was under the control of its directors throughout the accounting period. |