REGISTERED NUMBER: 11318103 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

BUILD CIRCLE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J W Parsons

R F Seabrook

C D E Sewell

B Shanmugam

REGISTERED OFFICE:

81 Rivington Street

London

EC2A 3AY

REGISTERED NUMBER:

11318103 (England and Wales)

AUDITORS:

Thorne Lancaster Parker

Chartered Accountants &

Statutory Auditors

5th Floor

Palladium House

1-4 Argyll Street

London

W1F 7TA

FIXED ASSETS

Tangible assets

5

13,766

8,881

CURRENT ASSETS

Debtors

6

3,550,349

1,731,977

Cash at bank

2,990

13,853

3,553,339

1,745,830

CREDITORS

Amounts falling due within one year

7

(1,638,888

)

(779,321

)

NET CURRENT ASSETS

1,914,451

966,509

TOTAL ASSETS LESS CURRENT LIABILITIES

1,928,217

975,390

CAPITAL AND RESERVES

Called up share capital

9

4

4

Retained earnings

10

1,928,213

975,386

SHAREHOLDERS' FUNDS

1,928,217

975,390

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2025 and were signed on its behalf by:

J W Parsons - Director

1.	STATUTORY INFORMATION

Build Circle Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Revenue

Revenue from temporary placements is recognised when the service is provided. Revenue from permanent placements is recognised when the candidate commences employment. Revenue excludes value added tax and provisions are made for refunds that may be due on this revenue.

Property, plant and equipment

Property, plant and equipment are initially measured at cost (or deemed cost) and are subsequently measured at cost or valuation, net of depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration initially recorded at cost.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment 33% on cost

Taxation

Taxation expense for the year comprises current and deferred tax recognised in the reporting period. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.In this case tax is also recognised in other comprehensive or directly in equity respectively

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.

Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Financial instruments

The company has chosen to adopt Section 11 of FRS 102 in respect of financial instruments as it has only basic financial instruments.

a) Basic financial assets

Trade and other debtors, loans to fellow group companies, loans to related companies, other debtors and bank balances, which are due within one year are initially recognised at transaction price and subsequently carried at amortised cost being the transaction price less any amounts settled and any impairment losses.

At the end of each reporting period basic financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

A financial asset is derecognised only when the contractual rights to cash flows expire or are settled, or substantially all the risks and rewards of ownership are transferred to another party, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

b) Basic financial liabilities and equity

Financial liabilities are classified as liabilities and equity instruments 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.

Trade creditors, other creditors and loans from fellow group and related companies are initially recognised at transaction price and subsequently carried at amortised cost, being transaction price less any amounts settled.

Other loans are initially recognised at the transaction price, including transaction costs and subsequently measured at amortised cost using the effective interest method. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and other similar charges.

Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired.

c) Equity instruments

The ordinary share capital of the company is classified as equity and recorded at fair value of the cash or other resources received or receivable, net of direct costs of issuing the equity instruments.

Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash at bank and in hand and short term deposits with an original maturity date of three months or less.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 6 ) .

5.	PROPERTY, PLANT AND EQUIPMENT

Computer

equipment

£

COST

At 1 January 2024

24,313

Additions

14,837

At 31 December 2024

39,150

DEPRECIATION

At 1 January 2024

15,432

Charge for year

9,952

At 31 December 2024

25,384

NET BOOK VALUE

At 31 December 2024

13,766

At 31 December 2023

8,881

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

685,508

827,744

Amounts owed by group undertakings

2,757,946

887,322

Other debtors

247

-

Prepayments and accrued income

106,648

16,911

3,550,349

1,731,977

Amounts owed by group undertaking are unsecured, interest free and repayable on demand.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

140,202

211,546

Trade creditors

839,382

350,280

Amounts owed to group undertakings

252,552

86,777

Tax

5,093

1,656

Social security and other taxes

235,118

73,555

Other creditors

7,299

3,941

Accruals and deferred income

159,242

51,566

1,638,888

779,321

Amounts owed to group undertaking are unsecured, interest free and repayable on demand.

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Invoice discounting facility

140,202

211,546

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

200

Ordinary

£0.01

2

2

200

B Ordinary shares

£0.01

2

2

4

4

10.

RESERVES

Retained

earnings

£

At 1 January 2024

975,386

Profit for the year

952,827

At 31 December 2024

1,928,213

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Neil Usher BA(Hons) FCA (Senior Statutory Auditor)

for and on behalf of Thorne Lancaster Parker

12.	ULTIMATE PARENT UNDERTAKING

The Directors consider the ultimate parent undertaking of the company to be Majar Holdco Limited, a company incorporated in England and Wales, whose registered office is 81 Rivington Street, London, England, EC2A 3AY.

The largest and smallest group of undertakings for which the group accounts have been drawn up is that headed by Majar Holdco Limited. The consolidated accounts of the parent company are available to the public and may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.