Build It (South West) Limited - Limited company - abbreviated

REGISTERED NUMBER: 06030634

Abbreviated Unaudited Accounts

for the Year Ended 31 December 2013

for

BUILD IT (SOUTH WEST) LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J Pegler

P D O'Brien

SECRETARY:

P D O'Brien

REGISTERED OFFICE:

Unit 6, Brook Gate

South Liberty Lane

Bristol

BS3 2AH

REGISTERED NUMBER:

06030634

ACCOUNTANTS:

Haines Watts

Chartered Accountants

Hyland Mews

21 High Street

Clifton

Bristol

BS8 2YF

FIXED ASSETS

Tangible assets

2

248

292

CURRENT ASSETS

Stocks

175,800

180,800

Debtors

8,123

183,923

188,923

CREDITORS

Amounts falling due within one year

48,629

30,997

NET CURRENT ASSETS

135,294

157,926

TOTAL ASSETS LESS CURRENT
LIABILITIES

135,542

158,218

CREDITORS

Amounts falling due after more than one
year

180,996

200,391

NET LIABILITIES

(45,454

)

(42,173

)

CAPITAL AND RESERVES

Called up share capital

3

2

Profit and loss account

(45,456

)

(42,175

)

SHAREHOLDERS' FUNDS

(45,454

)

(42,173

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2013 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved and authorised for issue by the Board of Directors on 25 September 2014 and
were signed on its behalf by:

P D O'Brien - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Stocks

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

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

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

balance sheet date where transactions or events have occurred at that date that will result in an obligation to

pay more, or a right to pay less or to receive more tax.

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not

that there will be suitable taxable profits from which the future reversal of the underlying timing differences

can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in

which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2013

and 31 December 2013

1,252

DEPRECIATION

At 1 January 2013

960

Charge for year

44

At 31 December 2013

1,004

NET BOOK VALUE

At 31 December 2013

248

At 31 December 2012

292

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2013

2012

value:

£

2

Ordinary

£1

2

4.	RELATED PARTY DISCLOSURES

P D O'Brien

Director

At the year-end, the company owed Mr Paul O'Brien, a director, £12,202 (2012: £12,202) in respect of loans

made by the Phelps & O'Brien partnership in earlier years.

Flats R Us (Bristol) Ltd