Build It Development Limited - Accounts to registrar (filleted) - small 18.2

Build It Development Limited - Accounts to registrar (filleted) - small 18.2

BUILD IT DEVELOPMENT LIMITED - Company Information

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REGISTERED NUMBER: 07562253 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022

FOR

BUILD IT DEVELOPMENT LIMITED
BUILD IT DEVELOPMENT LIMITED (REGISTERED NUMBER: 07562253)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 6

BUILD IT DEVELOPMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2022







DIRECTOR: Mr G F McMurray





REGISTERED OFFICE: The Mount Farleigh Road
Cliddesden
Basingstoke
Hampshire
RG25 2JL





REGISTERED NUMBER: 07562253 (England and Wales)





ACCOUNTANTS: LFM
Chartered Certified Accountants
The Stables
23b Lenten Street
Alton
Hampshire
GU34 1HG
Page 1
BUILD IT DEVELOPMENT LIMITED (REGISTERED NUMBER: 07562253)

BALANCE SHEET
30 JUNE 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,803 5,105

CURRENT ASSETS
Stocks 162,480 108,773
Debtors 5 192,703 195,550
Cash at bank 1 1
355,184 304,324
CREDITORS
Amounts falling due within one year 6 219,104 114,543
NET CURRENT ASSETS 136,080 189,781
TOTAL ASSETS LESS CURRENT
LIABILITIES
142,883
194,886

CREDITORS
Amounts falling due after more than one
year
7
142,430
193,264
NET ASSETS 453 1,622

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 353 1,522
SHAREHOLDERS' FUNDS 453 1,622

The notes form part of these financial statements

Page 2 continued...
BUILD IT DEVELOPMENT LIMITED (REGISTERED NUMBER: 07562253)

BALANCE SHEET - continued
30 JUNE 2022


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 October 2022 and were signed by:





Mr G F McMurray - Director


The notes form part of these financial statements

Page 3
BUILD IT DEVELOPMENT LIMITED (REGISTERED NUMBER: 07562253)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

1. STATUTORY INFORMATION

Build It Development 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.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. 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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

Page 4 continued...
BUILD IT DEVELOPMENT LIMITED (REGISTERED NUMBER: 07562253)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2022

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2021 42,425
Additions 3,377
At 30 June 2022 45,802
DEPRECIATION
At 1 July 2021 37,320
Charge for year 1,679
At 30 June 2022 38,999
NET BOOK VALUE
At 30 June 2022 6,803
At 30 June 2021 5,105

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Amounts owed by group undertakings 181,501 192,199
Other debtors 11,202 3,351
192,703 195,550

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 82,159 46,942
Trade creditors 253 10,261
Taxation and social security 47,518 54,649
Other creditors 89,174 2,691
219,104 114,543

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 142,430 193,264

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - 2-5 years 91,597 142,431

Page 5
CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
BUILD IT DEVELOPMENT LIMITED

The following reproduces the text of the report prepared for the director 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 Director 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 Build It Development Limited for the year ended 30 June 2022 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Build It Development Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Build It Development Limited and state those matters that we have agreed to state to the director of Build It Development Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Build It Development 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 profit of Build It Development Limited. You consider that Build It Development 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 Build It Development 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.






LFM
Chartered Certified Accountants
The Stables
23b Lenten Street
Alton
Hampshire
GU34 1HG


20 October 2022

This page does not form part of the statutory financial statements

Page 6