01 Design & Build Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 06955795 (England and Wales)

01 Design & Build Ltd

Unaudited Financial Statements

for the Year Ended 30 June 2017

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

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

3

1,680

1,890

CURRENT ASSETS

Stocks

1,029,621

631,326

Debtors

13,396

235,040

Cash at bank

584

909

1,043,601

867,275

CREDITORS

Amounts falling due within one year

1,056,964

875,179

NET CURRENT LIABILITIES

(13,363

)

(7,904

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(11,683

)

(6,014

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(11,684

)

(6,015

)

SHAREHOLDERS' FUNDS

(11,683

)

(6,014

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2017 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 on 13 March 2018 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2016

and 30 June 2017

2,100

DEPRECIATION

At 1 July 2016

210

Charge for year

210

At 30 June 2017

420

NET BOOK VALUE

At 30 June 2017

1,680

At 30 June 2016

1,890

4.	RELATED PARTY DISCLOSURES

At the year end M Lower a director of the company was owed £1,037,843 (2016:£802,093). The company is

currently building a new house on land owned by the directors.

5.	ULTIMATE CONTROLLING PARTY

The controlling party is M G Lower.