Best Build Developments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC529356 (Scotland)

BEST BUILD DEVELOPMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

5

DIRECTORS:

D G MacMillan

Mrs A MacMillan

E D A D MacMillan

SECRETARY:

Mrs A MacMillan

REGISTERED OFFICE:

Clydesbank House

St Patricks Road

Lanark

ML11 9EH

REGISTERED NUMBER:

SC529356 (Scotland)

ACCOUNTANTS:

Hardie Caldwell LLP

Chartered Accountants

Citypoint 2

25 Tyndrum Street

Glasgow

G4 0JY

CURRENT ASSETS

Stocks

368,706

243,294

Debtors

4

3,003

6,751

Cash at bank

5,767

3,772

377,476

253,817

CREDITORS

Amounts falling due within one year

5

404,946

266,756

NET CURRENT LIABILITIES

(27,470

)

(12,939

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(27,470

)

(12,939

)

CAPITAL AND RESERVES

Called up share capital

6

120

120

Retained earnings

(27,590

)

(13,059

)

(27,470

)

(12,939

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 18 December 2019 and were signed on its behalf by:

D G MacMillan - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets

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

Stocks

Stocks represent the carrying value of land and work in progress being the lower of cost and net realisable value

in relation to property development.

Financial instruments

Debtors

Other debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable

amounts when there is objective evidence that the asset is impaired.

Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise of cash on hand and cash at bank with a short term of

maturity, being twelve months or less, from the opening of the deposit or similar account.

Creditors

Other creditors are recognised where the company has a present obligation resulting from a past event and are

recognised at the settlement amount due allowing for any discounts due.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational

existence for the foreseeable future. For long term finance they rely on a loan provided by the directors,

disclosed in Note 6 within other creditors. In assessing going concern they have assumed that the directors' loan

will not be repaid until the development project is complete and realises a return. On that basis, they adopt the

going concern basis of accounting in preparing the annual financial statements.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 3 ) .

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

20,000

Disposals

(20,000

)

At 31 March 2019

-

DEPRECIATION

Charge for year

4,444

Eliminated on disposal

(4,444

)

At 31 March 2019

-

NET BOOK VALUE

At 31 March 2019

-

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

3,003

6,751

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Taxation and social security

350

2,110

Other creditors

404,596

264,646

404,946

266,756

6.	CALLED UP SHARE CAPITAL

Alloted, issued and fully paid:

Number:

Class:

Nominal Value

2019

2018

£

£

40

'A' Ordinary Shares

£1

40

40

40

'B' Ordinary Shares

£1

40

40

40

'C' Ordinary Shares

£1

40

40

120

120

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Best Build Developments Limited for the year ended 31 March 2019 which comprise the Income

Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the

company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Best Build Developments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Best Build Developments Limited and state those matters that we have agreed to state to the Board of Directors of Best Build Developments Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Best Build Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Best Build Developments Limited. You consider that Best Build Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Best Build Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Hardie Caldwell LLP

Chartered Accountants

Citypoint 2

25 Tyndrum Street

Glasgow

G4 0JY

18 December 2019