Buildvest Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09698494 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2020

for

Buildvest Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

A Choo

Ms J X Lim

Ms M C Choo

REGISTERED OFFICE:

25 Waterson Street

London

E2 8HT

REGISTERED NUMBER:

09698494 (England and Wales)

ACCOUNTANTS:

Christopher Bailey

Yoden House

30 Yoden Way

Peterlee

Co. Durham

SR8 1AL

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 Buildvest Ltd for the year ended 31 July 2020 which comprise the Income Statement, Balance Sheet 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 the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Buildvest Ltd, 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 Buildvest Ltd and state those matters that we have agreed to state to the Board of Directors of Buildvest Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Buildvest Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Buildvest Ltd 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 profit of Buildvest Ltd. You consider that Buildvest Ltd 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 Buildvest Ltd. 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.

Christopher Bailey

Yoden House

30 Yoden Way

Peterlee

Co. Durham

SR8 1AL

18 January 2021

FIXED ASSETS

Tangible assets

4

1,812,553

2,806,457

CURRENT ASSETS

Cash at bank

72,352

72,239

CREDITORS

Amounts falling due within one year

5

1,754,555

3,071,324

NET CURRENT LIABILITIES

(1,682,203

)

(2,999,085

)

TOTAL ASSETS LESS CURRENT LIABILITIES

130,350

(192,628

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

129,350

(193,628

)

SHAREHOLDERS' FUNDS

130,350

(192,628

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2020 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 and authorised for issue on 18 January 2021 and were signed on its behalf by:

A Choo - Director

1.	STATUTORY INFORMATION

Buildvest 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.	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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Freehold property

-

not provided

Going concern

The financial statements have been prepared on a going concern basis. The directors are confident they will continue to receive the support of the other creditors for the foreseeable future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 August 2019

2,806,457

Additions

172,858

Disposals

(1,166,762

)

At 31 July 2020

1,812,553

NET BOOK VALUE

At 31 July 2020

1,812,553

At 31 July 2019

2,806,457

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.20

31.7.19

£

£

Other loans

1,725,548

3,014,494

Other creditors

20,668

28,958

Accruals and deferred income

1,800

5,500

Accrued expenses

6,539

22,372

1,754,555

3,071,324

6.	SECURED DEBTS

The following secured debts are included within creditors:

31.7.20

31.7.19

£

£

Other loans

1,725,548

408,066

7.	RELATED PARTY DISCLOSURES

The director Adrian Choo is a shareholder in Anjo International Ltd which owns 10% shareholdings in Buildvest Ltd. At 31 July 2020, the company owed £258,370 (2019: £254,598) to Anjo International Limited.

At 31 July 2020, the company owed £1.467,178 (2019: £2,291,840) to the director Choo Ming Cheow.

These loans have been charged interest at commercial rates and repayable on demand.

At 31 July 2020, the company also owed £NIL (2019: £370,539) to the director Choo Ming Cheow. The loan bears interest at the rate of 5% per annum.

At 31 July 2020, the company owed £NIL (2019: £37,898) to the director Adrian Choo. The unsecured loan bears interest at the rate of 5% per annum and is repayable on demand.