Company Registration No. 09159227 (England and Wales)
One Stop Building Merchants Ltd
Unaudited accounts
for the year ended 31 August 2024
One Stop Building Merchants Ltd
Unaudited accounts
Contents
One Stop Building Merchants Ltd
Company Information
for the year ended 31 August 2024
Company Number
09159227 (England and Wales)
Registered Office
18 Lynmouth Road
London
N16 6XL
England
One Stop Building Merchants Ltd
Statement of financial position
as at 31 August 2024
Investment property
775,000
775,000
Cash at bank and in hand
1,419
2,893
Creditors: amounts falling due within one year
(125,951)
(120,935)
Net current assets
98,224
104,479
Total assets less current liabilities
873,224
879,479
Creditors: amounts falling due after more than one year
(645,532)
(646,616)
Provisions for liabilities
Deferred tax
(54,000)
(54,000)
Net assets
173,692
178,863
Called up share capital
1
1
Profit and loss account
173,691
178,862
Shareholders' funds
173,692
178,863
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 April 2025 and were signed on its behalf by
Mr Y S Stern
Director
Company Registration No. 09159227
One Stop Building Merchants Ltd
Notes to the Accounts
for the year ended 31 August 2024
One Stop Building Merchants Ltd is a private company, limited by shares, registered in England and Wales, registration number 09159227. The registered office is 18 Lynmouth Road, London, N16 6XL, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
The Directors do not consider there are any critical judgments or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset form part of the cost of that asset. Other borrowing costs are recognised as an expense.
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 accounts. 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.
One Stop Building Merchants Ltd
Notes to the Accounts
for the year ended 31 August 2024
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Fair value at 1 September 2023
775,000
The investment property at 31 August 2024 is stated at director's estimation of open market value. The historical cost of investment property included at valuation is £538,456 (2023: £538,456).
Amounts falling due within one year
Accrued income and prepayments
3,794
5,059
Other debtors
218,962
217,462
6
Creditors: amounts falling due within one year
2024
2023
Other creditors
125,951
120,935
Other creditors include an amount of £121,923 (2023: £116,907) due to the director and companies with a common director with the company.
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
645,532
646,616
The bank loan is secured on the company's investment property.
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
9
Transactions with related parties
Other debtors include amounts of £217,462 (2023: £217,462) due from companies with a director in common with the company.
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).