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COMPANY REGISTRATION NUMBER: 07381493
Lancaster Brickwork (Witney) Limited
Filleted Unaudited Abridged Financial Statements
31 March 2023
Lancaster Brickwork (Witney) Limited
Balance Sheet
31 March 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
56,893
75,858
Current assets
Debtors
208,337
94,440
Cash at bank and in hand
5,484
61,134
---------
---------
213,821
155,574
Creditors: amounts falling due within one year
174,762
135,565
---------
---------
Net current assets
39,059
20,009
--------
--------
Total assets less current liabilities
95,952
95,867
Creditors: amounts falling due after more than one year
51,686
94,879
--------
--------
Net assets
44,266
988
--------
--------
Capital and reserves
Called up share capital
10
10
Profit and loss account
44,256
978
--------
----
Shareholders funds
44,266
988
--------
----
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the balance sheet for the year ending 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.
Lancaster Brickwork (Witney) Limited
Balance Sheet (continued)
31 March 2023
These abridged financial statements were approved by the board of directors and authorised for issue on 13 June 2023 , and are signed on behalf of the board by:
Mr J Lancaster
Director
Company registration number: 07381493
Lancaster Brickwork (Witney) Limited
Notes to the Abridged Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Ground Floor, 2 Compton Way, Witney, OXON, OX28 3AB.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) Disclosures in respect of share-based payments have not been presented. (e) No disclosure has been given for the aggregate remuneration of key management personnel.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
£
Cost
At 1 April 2022 and 31 March 2023
101,433
---------
Depreciation
At 1 April 2022
25,575
Charge for the year
18,965
---------
At 31 March 2023
44,540
---------
Carrying amount
At 31 March 2023
56,893
---------
At 31 March 2022
75,858
---------
6. Directors' advances, credits and guarantees
As at 31 March 2023 a balance of £70,020 was owed to the directors (2022: £37,031).