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REGISTERED NUMBER: 03653361 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

Contract Builders Direct Ltd

Contract Builders Direct Ltd (Registered number: 03653361)

Contents of the Financial Statements
for the Year Ended 31 October 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


Contract Builders Direct Ltd (Registered number: 03653361)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £ £
Fixed assets
Tangible assets 5 422,444 343,856
Investments 6 100 100
Investment property 7 674,160 730,000
1,096,704 1,073,956

Current assets
Stocks 314,552 431,120
Debtors 8 911,643 929,419
Cash at bank 979,845 554,976
2,206,040 1,915,515
Creditors
Amounts falling due within one year 9 (271,351 ) (161,207 )
Net current assets 1,934,689 1,754,308
Total assets less current liabilities 3,031,393 2,828,264

Creditors
Amounts falling due after more than one
year

10

(207,996

)

(217,562

)

Provisions for liabilities (27,707 ) (23,294 )
Net assets 2,795,690 2,587,408

Contract Builders Direct Ltd (Registered number: 03653361)

Balance Sheet - continued
31 October 2024

31.10.24 31.10.23
Notes £ £
Capital and reserves
Called up share capital 101 101
Fair value reserve 12 - 2,850
Retained earnings 2,795,589 2,584,457
2,795,690 2,587,408

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

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

The director acknowledges his 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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 March 2025 and were signed by:





Mr A Goodchild - Director


Contract Builders Direct Ltd (Registered number: 03653361)

Notes to the Financial Statements
for the Year Ended 31 October 2024


1. Statutory information

Contract Builders Direct Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03653361

Registered office: 22-26 King Street
King's Lynn
Norfolk
PE30 1HJ

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

Consolidation
The entity has taken advantage of the option not to prepare consolidated financial statements
contained in Section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary
undertakings comprise a small group.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Contract Builders Direct Ltd (Registered number: 03653361)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


3. Accounting policies - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% p.a. reducing balance
Fixtures and fittings - 25% p.a. reducing balance
Motor vehicles - 25% p.a. reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any
accumulated depreciation and impairment losses. Any tangible assets carried at revalued
amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated
depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other
comprehensive income and accumulated in equity, except to the extent it reverses a revaluation
decrease of the same asset previously recognised in profit or loss. A decrease in the carrying
amount of an asset as a result of revaluation, is recognised in other comprehensive income to the
extent of any previously recognised revaluation increase accumulated in equity in respect of that
asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated
in equity in respect of that asset, the excess shall be recognised in profit or loss.

Investments in subsidiaries
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly
attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair
value are recognised in profit or loss.

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Contract Builders Direct Ltd (Registered number: 03653361)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


3. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. 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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Contract Builders Direct Ltd (Registered number: 03653361)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


3. 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.

Hire purchase and leasing commitments
Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. Employees and directors

The average number of employees during the year was 15 (2023 - 15 ) .

Contract Builders Direct Ltd (Registered number: 03653361)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


5. Tangible fixed assets
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£ £ £ £ £
Cost
At 1 November 2023 165,819 4,432 10,770 264,503 445,524
Additions - - 617 153,725 154,342
Disposals - - (4,612 ) (38,995 ) (43,607 )
At 31 October 2024 165,819 4,432 6,775 379,233 556,259
Depreciation
At 1 November 2023 - 2,946 6,381 92,341 101,668
Charge for year - 372 993 59,498 60,863
Eliminated on disposal - - (3,735 ) (24,981 ) (28,716 )
At 31 October 2024 - 3,318 3,639 126,858 133,815
Net book value
At 31 October 2024 165,819 1,114 3,136 252,375 422,444
At 31 October 2023 165,819 1,486 4,389 172,162 343,856

6. Fixed asset investments
Shares in
group
undertakings
£
Cost
At 1 November 2023
and 31 October 2024 100
Net book value
At 31 October 2024 100
At 31 October 2023 100

Contract Builders Direct Ltd (Registered number: 03653361)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


7. Investment property
Total
£
Fair value
At 1 November 2023 730,000
Additions 174,160
Disposals (230,000 )
At 31 October 2024 674,160
Net book value
At 31 October 2024 674,160
At 31 October 2023 730,000

8. Debtors: amounts falling due within one year
31.10.24 31.10.23
£ £
Trade debtors 365,709 285,789
Other debtors 545,934 643,630
911,643 929,419

9. Creditors: amounts falling due within one year
31.10.24 31.10.23
£ £
Bank loans and overdrafts 62,860 62,494
Hire purchase contracts 2,720 255
Trade creditors 70,395 26,421
Taxation and social security 117,210 65,736
Other creditors 18,166 6,301
271,351 161,207

10. Creditors: amounts falling due after more than one year
31.10.24 31.10.23
£ £
Bank loans 91,657 153,329
Hire purchase contracts 116,339 64,233
207,996 217,562

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 20,418

Contract Builders Direct Ltd (Registered number: 03653361)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


11. Secured debts

The following secured debts are included within creditors:

31.10.24 31.10.23
£ £
Bank loans 154,517 215,823
Hire purchase contracts 119,059 64,488
273,576 280,311

The bank loan of £75,350 is secured against the property at Lubeck Road, Kings Lynn.

The bank loan of £79,167 is secured against the properties held by Contract Builders Management Company Limited. Contract Builders Management Company Limited is controlled by the directors of Contract Builders Direct Ltd.

Hire purchase agreements are secured on the assets to which they relate.

12. Reserves
Fair value
reserve
£
At 1 November 2023 2,850
No description (2,850 )

At 31 October 2024 -

Profit and loss account - This reserve records distributable retained earnings and accumulated losses.

13. Related party disclosures

During the year there were net transactions with the director of £49,068 (2023 £2,908). As at the balance sheet date, the company was owed £107,314 by the director (2023 £58,246).Interest has been charged on the overdrawn loan at the official rate of HMRC interest and the loan has subsequently been repaid within nine months of the year end.

The company has taken advantage of the exemption provided in FRS 102 Section 1A from disclosing transactions with members of the group which are wholly owned.

No further transactions with related parties were undertaken such as are required to be disclosed under FRS 102 Section 1A.