01 Design & Build Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06955795 (England and Wales)

01 Design & Build Ltd

Unaudited Financial Statements

for the Year Ended 30 June 2020

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M G Lower

Mrs G E Lower

SECRETARY:

Mrs G E Lower

REGISTERED OFFICE:

The Old Factory

30-31 Devonshire Place

Brighton

East Sussex

BN2 1QB

REGISTERED NUMBER:

06955795 (England and Wales)

ACCOUNTANTS:

M Goddard & Co

Chartered Accountants

69 Tupwood Lane

Caterham

Surrey

CR3 6DD

FIXED ASSETS

Tangible assets

4

1,050

1,260

CURRENT ASSETS

Stocks

-

205,435

Debtors

85,551

45,560

Cash at bank

958

546

86,509

251,541

CREDITORS

Amounts falling due within one year

5,516

67,623

NET CURRENT ASSETS

80,993

183,918

TOTAL ASSETS LESS CURRENT LIABILITIES

82,043

185,178

CREDITORS

Amounts falling due after more than one year

73,806

-

NET ASSETS

8,237

185,178

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

8,236

185,177

SHAREHOLDERS' FUNDS

8,237

185,178

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2020 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2020 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 March 2021 and were signed on its behalf by:

M G Lower - Director

1.	STATUTORY INFORMATION

01 Design & Build Ltd 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 represents net invoiced sales of services and a provision for work carried out but not invoiced at the year end, 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.

Plant and machinery etc

-

10% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2019

and 30 June 2020

2,100

DEPRECIATION

At 1 July 2019

840

Charge for year

210

At 30 June 2020

1,050

NET BOOK VALUE

At 30 June 2020

1,050

At 30 June 2019

1,260

5.	RELATED PARTY DISCLOSURES

At the year end M Lower a director of the company owed the company £81,791 (2019:£43,891). Interest on the loan has been charged at 3% per annum. The loan was repaid on 29 March 2021. Work in progress amounting to £200,000 was brought forward on 1 July 2019 but this has been written off in the year as it is unlikely to be invoiceable. The loan brought forward due to 01 Property Investment Ltd (a related company) amounting to £64,250 has been written off.

6.	ULTIMATE CONTROLLING PARTY

The controlling party is M G Lower.