Buildwell Builders Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08200675 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020

FOR

BUILDWELL BUILDERS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr C J Scott

REGISTERED OFFICE:

36 High Street

Cleethorpes

North East Lincs

DN35 8JN

BUSINESS ADDRESS:

2 West Field Lane

Thorpe-on-the-Hill

Lincoln

Lincolnshire

LN6 9BF

REGISTERED NUMBER:

08200675 (England and Wales)

ACCOUNTANTS:

Blow Abbott Limited

36 High Street

Cleethorpes

North East Lincs

DN35 8JN

FIXED ASSETS

Tangible assets

4

13,038

17,384

CURRENT ASSETS

Debtors

5

154,284

183,324

Cash at bank

58,322

8,971

212,606

192,295

CREDITORS

Amounts falling due within one year

6

21,922

24,224

NET CURRENT ASSETS

190,684

168,071

TOTAL ASSETS LESS CURRENT LIABILITIES

203,722

185,455

CREDITORS

Amounts falling due after more than one year

7

(38,486

)

(7,699

)

PROVISIONS FOR LIABILITIES

8

(2,477

)

(548

)

NET ASSETS

162,759

177,208

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

162,758

177,207

SHAREHOLDERS' FUNDS

162,759

177,208

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 April 2021 and were signed by:

Mr C J Scott - Director

1.	STATUTORY INFORMATION

Buildwell Builders Limited 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 October 2019

and 30 September 2020

500

23,787

183

24,470

DEPRECIATION

At 1 October 2019

395

6,687

4

7,086

Charge for year

26

4,275

45

4,346

At 30 September 2020

421

10,962

49

11,432

NET BOOK VALUE

At 30 September 2020

79

12,825

134

13,038

At 30 September 2019

105

17,100

179

17,384

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 October 2019

and 30 September 2020

23,787

DEPRECIATION

At 1 October 2019

6,687

Charge for year

4,275

At 30 September 2020

10,962

NET BOOK VALUE

At 30 September 2020

12,825

At 30 September 2019

17,100

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

-

16,518

Loan

148,927

148,927

Directors' current accounts

-

8,027

VAT

5,025

8,231

Prepayments

332

1,621

154,284

183,324

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Hire purchase contracts

4,200

4,200

Trade creditors

11,586

11,214

Tax

4,423

5,391

Social security and other taxes

7

3

CIS Tax payable

-

1,836

Directors' current accounts

147

-

Accrued expenses

1,559

1,580

21,922

24,224

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans - 1-2 years

35,000

-

Hire purchase contracts

3,486

7,699

38,486

7,699

8.	PROVISIONS FOR LIABILITIES

2020

2019

£

£

Deferred tax

2,477

548

Deferred

tax

£

Balance at 1 October 2019

548

Movement during the year

1,929

Balance at 30 September 2020

2,477

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

1

Ordinary

£1

1

1

10.	RELATED PARTY DISCLOSURES

2020

2019

£

£

Balance owed to directors (by the directors) at the year end

147

(-8,027

)

Balance due from related parties at the year end

148,927

148,927

Sales to related parties during the year

164,138

324,121

No interest is payable on these balances.