Building Materials Limited Accounts

BUILDING MATERIALS LIMITED - Company Information






	Building Materials Limited
	Company No. 02941035
	Information for Filing with The Registrar
	31 March 2023

at	31 March 2023
Company No.		02941035	Notes	2023	2022
				£	£
Fixed assets
	Intangible assets		4	112,500	120,000
	Tangible assets		5	400,659	210,756


				513,159	330,756
Current assets

	Debtors		6	2,560,122	1,629,167

	Cash at bank and in hand			133,252	69,687
				2,693,374	1,698,854
Creditors: Amount falling due within one year			7	(2,208,048)	(1,229,682)
Net current assets				485,326	469,172
Total assets less current liabilities				998,485	799,928
Creditors: Amounts falling due after more than one year			8	(122,977)	(10,005)



Net assets				875,508	789,923

Capital and reserves
	Called up share capital			1,000	1,000



	Profit and loss account		9	874,508	788,923

Total equity				875,508	789,923



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.


As permitted by section 444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 11 March 2024

And signed on its behalf by:
N. Deloughery
Director
11 March 2024

for the year ended 31 March 2023

General information

Its registered number is: 02941035

Its registered office is:

Suite 2 Regency House

Harold Wood

Romford

Essex

RM3 0BP

The functional and presentational currency of the company is Sterling . The monetary amounts in the accounts are rounded to the nearest pound.

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

Accounting policies

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Intangible fixed assets

Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Plant and machinery

10% Straight line

Motor vehicles

10% Straight line

Furniture, fittings and equipment

10% Straight line

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.is also recognised in other comprehensive income or directly in equity respectively.

Financial instruments

The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic financial instruments measured at fair value.

3	Employees
			2023	2022
			Number	Number
		The average monthly number of employees (including directors) during the year was:	8	8

4	Intangible fixed assets
			Goodwill	Total
			£	£
		Cost
		At 1 April 2022	150,000	150,000


		At 31 March 2023	150,000	150,000
		Amortisation and impairment
		At 1 April 2022	30,000	30,000
		Charge for the year	7,500	7,500


		At 31 March 2023	37,500	37,500
		Net book values
		At 31 March 2023	112,500	112,500
		At 31 March 2022	120,000	120,000

5	Tangible fixed assets
			Plant and machinery	Motor vehicles	Fixtures, fittings and equipment	Total
			£	£	£	£
		Cost or revaluation
		At 1 April 2022	259,819	85,422	8,390	353,631
		Additions	-	248,951	1,345	250,296



		At 31 March 2023	259,819	334,373	9,735	603,927
		Depreciation
		At 1 April 2022	106,783	32,031	4,061	142,875
		Charge for the year	25,982	33,437	974	60,393



		At 31 March 2023	132,765	65,468	5,035	203,268
		Net book values
		At 31 March 2023	127,054	268,905	4,700	400,659
		At 31 March 2022	153,036	53,391	4,329	210,756

6	Debtors
			2023	2022
			£	£
		Trade debtors	2,525,850	1,601,842



		VAT recoverable	34,272	27,151


		Prepayments and accrued income	-	174
			2,560,122	1,629,167

7	Creditors amounts falling due within one year:
			2023	2022
			£	£


		Other loans	548,952	293,952
		Obligations under finance lease and hire purchase contracts	49,801	4,855
		Trade creditors	1,404,415	560,027
		Amounts owed to group undertakings	171,841	297,984
		Corporation tax	18,606	28,939
		Other taxes and social security	469	5,469
		Loans from directors	9,765	31,824
		Other creditors	-	2,256
		Accruals and deferred income	4,199	4,376
			2,208,048	1,229,682

8	Creditors amounts falling due after more than one year:
			2023	2022
			£	£



		Obligations under finance lease and hire purchase contracts	122,977	10,005




			122,977	10,005

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

10	Dividends
			2023	2022
			£	£
		Dividends for the period:
		Dividends paid in the period	30,000	75,000

			30,000	75,000

		Dividends by type:

		Equity dividends	30,000	75,000
			30,000	75,000

Related party disclosures

At the balance sheet date £9,765 was owed to the director by the company.

Controlling party

Immediate controlling party

D. Deloughery controls the company