Registered number
12594395
VE BUILD LIMITED
Filleted Accounts
30 November 2023
VE BUILD LIMITED
Registered number: 12594395
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 238,858 34,484
Investments 4 2,134,286 -
2,373,144 34,484
Current assets
Debtors 5 2,823,444 1,982,212
Cash at bank and in hand 631,621 1,207,142
3,455,065 3,189,354
Creditors: amounts falling due within one year 6 (3,801,469) (2,252,529)
Net current (liabilities)/assets (346,404) 936,825
Net assets 2,026,740 971,309
Capital and reserves
Called up share capital 100 100
Profit and loss account 2,026,640 971,209
Shareholders' funds 2,026,740 971,309
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Hiten Ravji Raghwani
Director
Approved by the board on 18 March 2025
VE BUILD LIMITED
Notes to the Accounts
for the period from 1 June 2022 to 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 June 2022 - 7,279 45,167 52,446
Additions 200,375 20,933 - 221,308
At 30 November 2023 200,375 28,212 45,167 273,754
Depreciation
At 1 June 2022 - 3,232 14,730 17,962
Charge for the period - 5,642 11,292 16,934
At 30 November 2023 - 8,874 26,022 34,896
Net book value
At 30 November 2023 200,375 19,338 19,145 238,858
At 31 May 2022 - 4,047 30,437 34,484
4 Investments
Other
investments
£
Cost
Additions 2,134,286
At 30 November 2023 2,134,286
5 Debtors 2023 2022
£ £
Trade debtors 34,311 17,715
Other debtors 2,789,133 1,964,497
2,823,444 1,982,212
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 90,593 -
Taxation and social security costs 370,312 176,216
Other creditors 3,340,564 2,076,313
3,801,469 2,252,529
7 Related party transactions
During the year company provided loan to RVE capital (One) Ltd for £1,024,794.10,where director have common controlling interest.

During the year company has made payment of £200,375 to Damac properties to purchase the property at Unit No R475,Damac Lagoons,Marbella,Dubai which has been held in trust in name of Mr.Hiten Raghwani

During the Year company has invested in unlisted shares for £1,039,286 for Four quarter group of companies which has been held in trust in name of Mr.Hiten Raghwani.

During the year company has invested in IG Index for listed shares £1,095,000, account has been opened in name of Mr.Hiten raghwani for administrative purpose.
8 Controlling party
Mr.Hiten Raghaniis sole director of the company and ultimate controlling party of VE Build Ltd
9 Other information
VE BUILD LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
142-144, Kenton Road
Harrow
Middlesex
HA3 8AZ
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