Silverfin false false 30/06/2024 01/07/2023 30/06/2024 Dr H Baig 15/06/2017 Mr M Hidayatullah 01/05/2022 Prof T Mallick 15/06/2017 18 March 2025 The principal activity of the Company during the financial year was the development of integrated solar technologies. 10820724 2024-06-30 10820724 bus:Director1 2024-06-30 10820724 bus:Director2 2024-06-30 10820724 bus:Director3 2024-06-30 10820724 2023-06-30 10820724 core:CurrentFinancialInstruments 2024-06-30 10820724 core:CurrentFinancialInstruments 2023-06-30 10820724 core:ShareCapital 2024-06-30 10820724 core:ShareCapital 2023-06-30 10820724 core:SharePremium 2024-06-30 10820724 core:SharePremium 2023-06-30 10820724 core:RetainedEarningsAccumulatedLosses 2024-06-30 10820724 core:RetainedEarningsAccumulatedLosses 2023-06-30 10820724 core:FurnitureFittings 2023-06-30 10820724 core:FurnitureFittings 2024-06-30 10820724 bus:OrdinaryShareClass1 2024-06-30 10820724 2023-07-01 2024-06-30 10820724 bus:FilletedAccounts 2023-07-01 2024-06-30 10820724 bus:SmallEntities 2023-07-01 2024-06-30 10820724 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 10820724 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10820724 bus:Director1 2023-07-01 2024-06-30 10820724 bus:Director2 2023-07-01 2024-06-30 10820724 bus:Director3 2023-07-01 2024-06-30 10820724 core:FurnitureFittings core:TopRangeValue 2023-07-01 2024-06-30 10820724 2022-07-01 2023-06-30 10820724 core:FurnitureFittings 2023-07-01 2024-06-30 10820724 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 10820724 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10820724 (England and Wales)

BUILD SOLAR LTD

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

BUILD SOLAR LTD

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

BUILD SOLAR LTD

STATEMENT OF FINANCIAL POSITION

As at 30 June 2024
BUILD SOLAR LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 218 319
218 319
Current assets
Stocks 13,166 8,166
Debtors 4 11,517 558
Cash at bank and in hand 32,852 6,926
57,535 15,650
Creditors: amounts falling due within one year 5 ( 23,948) ( 4,485)
Net current assets 33,587 11,165
Total assets less current liabilities 33,805 11,484
Provision for liabilities 0 ( 80)
Net assets 33,805 11,404
Capital and reserves
Called-up share capital 6 338 321
Share premium account 29,983 0
Profit and loss account 3,484 11,083
Total shareholders' funds 33,805 11,404

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Build Solar Ltd (registered number: 10820724) were approved and authorised for issue by the Board of Directors on 18 March 2025. They were signed on its behalf by:

Dr H Baig
Director
BUILD SOLAR LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
BUILD SOLAR LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Build Solar Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Chy Nyverow, Newham Road, Truro, TR1 2DP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Fixtures and fittings 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 2

3. Tangible assets

Fixtures and fittings Total
£ £
Cost
At 01 July 2023 504 504
At 30 June 2024 504 504
Accumulated depreciation
At 01 July 2023 185 185
Charge for the financial year 101 101
At 30 June 2024 286 286
Net book value
At 30 June 2024 218 218
At 30 June 2023 319 319

4. Debtors

2024 2023
£ £
Amounts owed by directors 10,000 0
VAT recoverable 209 408
Other debtors 1,308 150
11,517 558

5. Creditors: amounts falling due within one year

2024 2023
£ £
Accruals 2,000 1,977
Taxation and social security 5,875 2,508
Other creditors 16,073 0
23,948 4,485

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
33,838 Ordinary shares of £ 0.01 each (2023: 32,146 shares of £ 0.01 each) 338 321