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Registration number: 03117419

Building Software Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Building Software Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Building Software Limited

(Registration number: 03117419)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,630

6,054

Investments

5

1,908

1,908

 

3,538

7,962

Current assets

 

Debtors

6

269,864

326,492

Cash at bank and in hand

 

891,557

742,643

 

1,161,421

1,069,135

Creditors: Amounts falling due within one year

7

(615,827)

(655,760)

Net current assets

 

545,594

413,375

Total assets less current liabilities

 

549,132

421,337

Provisions for liabilities

(151)

(778)

Net assets

 

548,981

420,559

Capital and reserves

 

Called up share capital

1,472

1,472

Share premium reserve

155,136

155,136

Retained earnings

392,373

263,951

Shareholders' funds

 

548,981

420,559

 

Building Software Limited

(Registration number: 03117419)
Balance Sheet as at 31 December 2024

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 April 2025 and signed on its behalf by:
 

D A C Gaudoin
Director

   
     
 

Building Software Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Swallow Court
Devonshire Gate
Sampford Peverell
Tiverton
Devon
EX16 7EJ

These financial statements were authorised for issue by the Board on 25 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Where income is received in advance of the service being provided in a future accounting period, the applicable revenue is recognised as deferred income and shown within other creditors.

Government grants

Government grants are recognised using the accruals model. Where the costs have already been incurred the grant is credited to the profit and loss account.

 

Building Software Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25-33% straight line basis

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Building Software Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 11 (2023 - 13).

 

Building Software Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 January 2024

55,683

55,683

Additions

843

843

Disposals

(12,213)

(12,213)

At 31 December 2024

44,313

44,313

Depreciation

At 1 January 2024

49,629

49,629

Charge for the year

4,994

4,994

Eliminated on disposal

(11,940)

(11,940)

At 31 December 2024

42,683

42,683

Carrying amount

At 31 December 2024

1,630

1,630

At 31 December 2023

6,054

6,054

5

Investments

2024
£

2023
£

Investments in subsidiaries

1,908

1,908

Subsidiaries

£

Cost or valuation

At 1 January 2024

4,200

Provision

At 1 January 2024

2,292

Carrying amount

At 31 December 2024

1,908

At 31 December 2023

1,908

 

Building Software Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Debtors

2024
£

2023
£

Trade debtors

258,614

316,031

Other debtors

-

463

Prepayments

11,250

9,998

269,864

326,492

7

Creditors

Due within one year

Note

2024
£

2023
£

 

Trade creditors

 

10,744

6,452

Social security and other taxes

 

28,155

80,040

Other creditors

 

4,769

3,822

Accruals

 

448,603

444,771

Corporation tax liability

123,556

120,675

 

615,827

655,760

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £48,756 (2023 - £16,456).