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Registration number: 11038357

Northampton Brickwork Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2021

 

Northampton Brickwork Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Northampton Brickwork Ltd

Company Information

Director

Mr Spencer Considine

Registered office

The Mill
Pury Hill Business Park
Alderton Road
Towcester
NN12 7LS

Accountants

KRW Accountants Ltd
The Mill
Pury Hill Business Park
Alderton Road
Towcester
NN12 7LS

 

Northampton Brickwork Ltd

(Registration number: 11038357)
Balance Sheet as at 31 October 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

22,536

13,321

Current assets

 

Debtors

5

78,039

97,227

Cash at bank and in hand

 

135,012

117,127

 

213,051

214,354

Creditors: Amounts falling due within one year

6

(87,469)

(98,795)

Net current assets

 

125,582

115,559

Total assets less current liabilities

 

148,118

128,880

Creditors: Amounts falling due after more than one year

6

(42,593)

(45,833)

Net assets

 

105,525

83,047

Capital and reserves

 

Called up share capital

1

1

Retained earnings

105,524

83,046

Shareholders' funds

 

105,525

83,047

For the financial year ending 31 October 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 25 August 2022
 

.........................................
Mr Spencer Considine
Director

 

Northampton Brickwork Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2021

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
The Mill
Pury Hill Business Park
Alderton Road
Towcester
NN12 7LS

These financial statements were authorised for issue by the director on 25 August 2022.

The company registration number is 11038357

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Northampton Brickwork Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2021

Asset class

Depreciation method and rate

Office equipment

25% straight line

Plant and machinery

25% straight line

Motor vehicles

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. The company subsequently considers the recoverable value of the trade debtors. When assessing impairment of trade debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2020 - 2).

 

Northampton Brickwork Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2021

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2020

5,211

2,820

24,500

32,531

Additions

-

1,497

21,600

23,097

At 31 October 2021

5,211

4,317

46,100

55,628

Depreciation

At 1 November 2020

3,470

2,115

13,625

19,210

Charge for the year

1,303

1,079

11,500

13,882

At 31 October 2021

4,773

3,194

25,125

33,092

Carrying amount

At 31 October 2021

438

1,123

20,975

22,536

At 31 October 2020

1,741

705

10,875

13,321

 

Northampton Brickwork Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2021

5

Debtors

Current

2021
£

2020
£

Trade debtors

91,574

86,705

Other debtors

(13,535)

10,522

 

78,039

97,227

6

Creditors

Creditors: amounts falling due within one year

Note

2021
£

2020
£

Due within one year

 

Loans and borrowings

8

5,555

4,167

Trade creditors

 

40,496

10,824

Taxation and social security

 

15,202

65,110

Other creditors

 

26,216

18,694

 

87,469

98,795

Creditors: amounts falling due after more than one year

Note

2021
£

2020
£

Due after one year

 

Loans and borrowings

8

42,593

45,833

7

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary of £0.00 each

500

1.00

500

1.00

         

8

Loans and borrowings

2021
£

2020
£

Non-current loans and borrowings

Bank borrowings

42,593

45,833

 

Northampton Brickwork Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2021

2021
£

2020
£

Current loans and borrowings

Bank borrowings

5,555

4,167