|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Audited Financial Statements for the Year Ended 30 September 2018 |
|
for |
|
BUILDTRUST LTD |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Audited Financial Statements for the Year Ended 30 September 2018 |
|
for |
|
BUILDTRUST LTD |
BUILDTRUST LTD (Registered number: 06709217) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the Year Ended 30 September 2018 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 3 |
|
BUILDTRUST LTD |
|
Company Information |
for the Year Ended 30 September 2018 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
SENIOR STATUTORY AUDITOR: |
|
|
|
|
AUDITORS: |
|
Chartered Certified Accountants & |
Registered Auditors |
130a Darkes Lane |
Potters Bar |
Hertfordshire |
EN6 1AF |
BUILDTRUST LTD (Registered number: 06709217) |
|
Balance Sheet |
30 September 2018 |
|
30.9.18 | 30.9.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Stocks | 5 |
|
|
Debtors | 6 |
|
|
Prepayments and accrued income |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
) |
( |
) |
|
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 11 |
|
|
Retained earnings | 12 |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
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 on
|
|
|
|
|
|
|
|
BUILDTRUST LTD (Registered number: 06709217) |
|
Notes to the Financial Statements |
for the Year Ended 30 September 2018 |
|
1. | STATUTORY INFORMATION |
|
BUILDTRUST LTD is a
|
registered number and registered office address can be found on the Company Information page. |
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
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 |
|
Plant and machinery | - |
|
Fixtures and fittings | - |
|
Motor vehicles | - |
|
|
Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance |
for obsolete and slow moving items. |
|
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. |
|
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair |
value. The capital element of the future payments is treated as a liability and the interest is charged to the profit |
and loss account on a straight line basis. |
BUILDTRUST LTD (Registered number: 06709217) |
|
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2018 |
|
2. | ACCOUNTING POLICIES - continued |
|
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. |
|
Hire purchase and leasing commitments |
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair |
value. The capital element of the future payments is treated as a liability and the interest is charged to the profit |
and loss account on a straight line basis. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 October 2017 |
|
|
|
|
Additions |
|
|
|
|
Disposals |
|
|
( |
) | ( |
) |
At 30 September 2018 |
|
|
|
|
DEPRECIATION |
At 1 October 2017 |
|
|
|
|
Charge for year |
|
|
|
|
Eliminated on disposal |
|
|
( |
) | ( |
) |
At 30 September 2018 |
|
|
|
|
NET BOOK VALUE |
At 30 September 2018 |
|
|
|
|
At 30 September 2017 |
|
|
|
|
|
Included within the net book value of £68,753 (2017: £75,489) an amount of £71,999 is relating to a motor |
vehicles / vans held under hire purchase agreement. |
|
5. | STOCKS |
30.9.18 | 30.9.17 |
£ | £ |
Raw materials |
|
|
Work-in-progress |
|
|
|
|
BUILDTRUST LTD (Registered number: 06709217) |
|
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2018 |
|
6. | DEBTORS |
30.9.18 | 30.9.17 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
|
|
Other debtors |
|
|
Rent deposit | 4,250 | - |
|
|
|
Amounts falling due after more than one year: |
Amounts receivable in respect of hire
purchase contracts |
10,550 |
14,132 |
|
Aggregate amounts |
|
|
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.18 | 30.9.17 |
£ | £ |
Trade and other creditors |
|
|
Tax | ( |
) |
|
Social security and other taxes |
|
( |
) |
VAT | 132,354 | 32,375 |
Proposed dividends | (120,100 | ) | (21,000 | ) |
Directors' current accounts | 24 | 21,364 |
Accruals and deferred income |
|
|
Accrued expenses |
|
|
|
|
|
8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
30.9.18 | 30.9.17 |
£ | £ |
Hire purchase contracts |
|
|
|
9. | SECURED DEBTS |
|
The bank has a fixed and floating charge by the way of debenture over all the assets of the company which the |
bank will hold this debenture as security of all debts and other liabilities owed to the bank. This is to include all |
present and future loans or facilities has granted to the company and to its connected companies. |
|
10. | FINANCIAL INSTRUMENTS |
|
Financial instruments are classified and accounted for according to the substance of the contractual arrangement |
as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that |
evidences a residual interest in the assets of the company after deducting all of its liabilities. |
BUILDTRUST LTD (Registered number: 06709217) |
|
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2018 |
|
11. | CALLED UP SHARE CAPITAL |
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.9.18 | 30.9.17 |
value: | £ | £ |
|
Ordinary shares | £1.00 | 100 | 100 |
|
12. | RESERVES |
Retained |
earnings |
£ |
|
At 1 October 2017 |
|
Profit for the year |
|
Dividends | ( |
) |
At 30 September 2018 |
|
|
13. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
|
The Report of the Auditors was unqualified. |
|
|
for and on behalf of
|
|
14. | CONTINGENT LIABILITIES |
|
The company had no contingent liabilities as at 30th September 2018. |
|
15. | OTHER FINANCIAL COMMITMENTS |
|
The company had no capital or other financial commitments other than those stated in the financial statements as |
at 30th September 2018. |
|
16. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
|
The following advances and credits to a director subsisted during the years ended 30 September 2018 and |
30 September 2017: |
|
30.9.18 | 30.9.17 |
£ | £ |
|
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
|
|
Amounts repaid |
|
|
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
|
17. | RELATED PARTY DISCLOSURES |
|
During the year, total dividends of £71,000 (2017 - £61,000) were paid to the director . |
BUILDTRUST LTD (Registered number: 06709217) |
|
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2018 |
|
17. | RELATED PARTY DISCLOSURES - continued |
|
Further £120,100 interim ordinary dividends were proposed for the following year. |
|
During the year the company has moved its operating office in to a property which it is under the common |
control of the same director and shareholder of which Buildtrust Limited pays annual rent to the amount of |
£17,000 per annum. |
|
During the current year the amount of rent paid to Homes We Trust Limited amounted to £17,000 (2017: £nil) of |
which £4,250 was for Rent Deposit and £4,250 rent in advance for the quarter ended 31st December 2018. |
|
During the year the company has also lent the total amount of £85,997 to Homes We Trust Limited to finance the |
acquisition of the freehold property. This amount was lent interest free and without any other repayment terms |
attached to it. |
|
18. | APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
|
In common with many other businesses of our size and nature we use our auditors to prepare and submit returns |
to the tax authorities and assist with the preparation of the financial statements. |
|
19. | ULTIMATE CONTROLLING PARTY |
|
The controlling party is Mr I R Nistorel. |