Buildvale Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC335731 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

BUILDVALE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

6

DIRECTOR:

T Murdoch

SECRETARY:

Miss P E Craig

REGISTERED OFFICE:

Low Quarter Mill Cottage

Dunnipace

Denny

FK6 6QY

REGISTERED NUMBER:

SC335731 (Scotland)

ACCOUNTANTS:

G. Ingram and Company Limited

8 Abbeygreen

Lesmahagow

South Lanarkshire

ML11 0DB

FIXED ASSETS

Tangible assets

4

18,811

23,514

CURRENT ASSETS

Stocks

1,000

1,000

Debtors

5

14,668

2,220

Cash at bank and in hand

79,933

20,328

95,601

23,548

CREDITORS

Amounts falling due within one year

6

35,197

27,697

NET CURRENT ASSETS/(LIABILITIES)

60,404

(4,149

)

TOTAL ASSETS LESS CURRENT LIABILITIES

79,215

19,365

CREDITORS

Amounts falling due after more than one year

7

40,000

13,750

NET ASSETS

39,215

5,615

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

39,115

5,515

SHAREHOLDERS' FUNDS

39,215

5,615

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 14 January 2022 and were signed by:

T Murdoch - Director

1.	STATUTORY INFORMATION

Buildvale Limited is a private company, limited by shares , registered in Scotland. 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.

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

20% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2020

and 31 March 2021

5,379

34,095

2,086

41,560

DEPRECIATION

At 1 April 2020

3,631

13,185

1,230

18,046

Charge for year

350

4,182

171

4,703

At 31 March 2021

3,981

17,367

1,401

22,749

NET BOOK VALUE

At 31 March 2021

1,398

16,728

685

18,811

At 31 March 2020

1,748

20,910

856

23,514

5.

DEBTORS

31.3.21

31.3.20

£

£

Amounts falling due within one year:

Other debtors

2,168

2,220

Amounts falling due after more than one year:

Other debtors

12,500

-

Aggregate amounts

14,668

2,220

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Taxation and social security

16,082

10,985

Other creditors

19,115

16,712

35,197

27,697

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Bank loans

40,000

13,750

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other creditors is a loan from the director of £16,934 ( 2019 : £15,282 ) which is interest free and repayable on demand.

9.	OTHER DEBTOR MORE THAN ONE YEAR

A loan was granted on commercial terms to an individual. The loan is for a three year term.

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.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2021 set out on pages nil to nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

G. Ingram and Company Limited

8 Abbeygreen

Lesmahagow

South Lanarkshire

ML11 0DB

Date: .............................................