Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-052023-04-052The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-04-06falseNo description of principal activity3truetrue 00002687 2022-04-06 2023-04-05 00002687 2021-04-06 2022-04-05 00002687 2023-04-05 00002687 2022-04-05 00002687 2021-04-06 00002687 4 2022-04-06 2023-04-05 00002687 4 2021-04-06 2022-04-05 00002687 6 2022-04-06 2023-04-05 00002687 6 2021-04-06 2022-04-05 00002687 d:Director1 2022-04-06 2023-04-05 00002687 e:FreeholdInvestmentProperty 2022-04-06 2023-04-05 00002687 e:FreeholdInvestmentProperty 2023-04-05 00002687 e:FreeholdInvestmentProperty 2022-04-05 00002687 e:FreeholdInvestmentProperty 2 2022-04-06 2023-04-05 00002687 e:FreeholdInvestmentProperty 3 2022-04-06 2023-04-05 00002687 e:CurrentFinancialInstruments 2023-04-05 00002687 e:CurrentFinancialInstruments 2022-04-05 00002687 e:CurrentFinancialInstruments e:WithinOneYear 2023-04-05 00002687 e:CurrentFinancialInstruments e:WithinOneYear 2022-04-05 00002687 e:UKTax 2022-04-06 2023-04-05 00002687 e:UKTax 2021-04-06 2022-04-05 00002687 e:ShareCapital 2023-04-05 00002687 e:ShareCapital 2022-04-05 00002687 e:ShareCapital 2021-04-06 00002687 e:RetainedEarningsAccumulatedLosses 2022-04-06 2023-04-05 00002687 e:RetainedEarningsAccumulatedLosses 2023-04-05 00002687 e:RetainedEarningsAccumulatedLosses 2021-04-06 2022-04-05 00002687 e:RetainedEarningsAccumulatedLosses 2022-04-05 00002687 e:RetainedEarningsAccumulatedLosses 2021-04-06 00002687 d:FRS102 2022-04-06 2023-04-05 00002687 d:AuditExempt-NoAccountantsReport 2022-04-06 2023-04-05 00002687 d:FullAccounts 2022-04-06 2023-04-05 00002687 d:PrivateLimitedCompanyLtd 2022-04-06 2023-04-05 00002687 6 2022-04-06 2023-04-05 00002687 e:OtherDeferredTax 2023-04-05 00002687 e:OtherDeferredTax 2022-04-05 iso4217:GBP xbrli:pure
Registered number: 00002687









 
THE GILLINGHAM POTTERY BRICK AND TILE COMPANY LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023














Fletcher & Partners
Chartered Accountants
Salisbury

 
THE GILLINGHAM POTTERY BRICK AND TILE COMPANY LIMITED
REGISTERED NUMBER: 00002687

BALANCE SHEET
AS AT 5 APRIL 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 5 
1,586,327
545,661

Investment property
 6 
-
2,570,000

  
1,586,327
3,115,661

Current assets
  

Fixed assets held for sale
  8  
2,019,000
-

Debtors: amounts falling due within one year
 8 
24,006
1,808,283

Cash at bank and in hand
 9 
777,453
303,047

  
2,820,459
2,111,330

Creditors: amounts falling due within one year
 10 
(25,926)
(20,241)

Net current assets
  
 
 
2,794,533
 
 
2,091,089

Total assets less current liabilities
  
4,380,860
5,206,750

Provisions for liabilities
  

Deferred tax
 11 
(247,493)
(263,595)

  
 
 
(247,493)
 
 
(263,595)

Net assets
  
4,133,367
4,943,155


Capital and reserves
  

Called up share capital 
  
8,000
8,000

Profit and loss account
 13 
4,125,367
4,935,155

  
4,133,367
4,943,155


Page 1

 
THE GILLINGHAM POTTERY BRICK AND TILE COMPANY LIMITED
REGISTERED NUMBER: 00002687

BALANCE SHEET (CONTINUED)
AS AT 5 APRIL 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



S M Carmichael
Director
Date: 2 October 2023

The notes on pages 4 to 8 form part of these financial statements.

Page 2

 
THE GILLINGHAM POTTERY BRICK AND TILE COMPANY LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 5 APRIL 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 6 April 2021
8,000
4,484,578
4,492,578



Profit for the year
-
700,577
700,577


Dividends: Equity capital
-
(250,000)
(250,000)



At 6 April 2022
8,000
4,935,155
4,943,155



Loss for the year
-
(309,788)
(309,788)

Dividends: Equity capital
-
(500,000)
(500,000)


At 5 April 2023
8,000
4,125,367
4,133,367


The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
THE GILLINGHAM POTTERY BRICK AND TILE COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023

1.


General information

The Gillingham Pottery Brick and Tile Company Limited is a private company limited by shares, incorporated in England and Wales, registered number 00002687. Its registered office is 41 Adams Drive, Fleet, Hampshire, GU51 3DZ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company is in the process of selling its investment properties with a view to liquidating the company.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue comprises rents receivable and is recognised when the rents fall due.

 
2.4

Investment properties

Investment properties are carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

  
2.5

Fixed assets held for sale

Investment properties have been reclassified at 5 April 2023 as fixed assets held for sale as their carrying value will be recovered principally through a sale transaction rather than continuing use. The properties are available for sale in their present condition. The directors are committed to plans to sell the properties and have an active programme to complete the plan.

 
2.6

Valuation of investments

Investments in listed company shares are carried at fair value and remeasured to quoted market value in an active market at each Balance Sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income.

 
2.7

Debtors

Short term debtors are measured at transaction price, less any impairment.

Page 4

 
THE GILLINGHAM POTTERY BRICK AND TILE COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023

2.Accounting policies (continued)

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

 
2.10

Creditors

Short term creditors are measured at the transaction price. 

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 2).

Page 5

 
THE GILLINGHAM POTTERY BRICK AND TILE COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023

4.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
19,248
13,695


Total current tax
19,248
13,695

Deferred tax


Origination and reversal of timing differences
(93,803)
138,131

Changes to tax rates
77,701
-

Total deferred tax
(16,102)
138,131


Taxation on profit on ordinary activities
3,146
151,826

Factors affecting tax charge for the year

The tax assessed for both years is higher than (2022 - lower than) the standard rate of corporation tax in the UK of 19.08%. (2022 - 19%) The differences are explained below:

2023
2022
£
£


(Loss)/profit on ordinary activities before tax
(306,642)
852,403


(Loss)/profit on ordinary activities multiplied by standard rate of corporation tax in the UK of  19.08% (2022 - 19%)
(58,507)
161,957

Effects of:


Book profit on chargeable assets
4,065
(84)

Capital gains
13,086
2,437

Dividends from UK companies
(591)
(676)

Fair value movements not subject to current tax
61,224
(149,939)

Deferred taxation movement
(16,102)
138,131

Marginal relief
(29)
-

Total tax charge for the year
3,146
151,826

Page 6

 
THE GILLINGHAM POTTERY BRICK AND TILE COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023

5.


Fixed asset investments





Listed investments

£



Cost or valuation


At 6 April 2022
545,661


Additions
1,577,874


Disposals
(545,716)


Revaluations
8,508



At 5 April 2023
1,586,327





6.


Investment property


Freehold investment property

£





At 6 April 2022
2,570,000


Disposals
(221,614)


Surplus/(deficit) on revaluation
(329,386)


Reclassification to fixed assets held for sale
(2,019,000)



At 5 April 2023
-

The 2023 valuations were made by the directors, on an open market value for sale basis. The properties were then reclassified as fixed assets held for sale.




7.


Fixed assets held for sale

2023
2022
£
£



Investment properties
2,019,000
-

Page 7

 
THE GILLINGHAM POTTERY BRICK AND TILE COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023

8.


Debtors

2023
2022
£
£


Other debtors
21,471
1,806,767

Prepayments and accrued income
2,535
1,516

24,006
1,808,283



9.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
777,453
303,047



10.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
-
126

Corporation tax
19,248
13,695

Other creditors
625
625

Accruals and deferred income
6,053
5,795

25,926
20,241



11.


Deferred taxation




2023
2022


£

£






At beginning of year
263,595
125,464


Charged to / (released from) profit or loss
(16,102)
138,131



At end of year
247,493
263,595

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Fair value gains
247,493
263,595


Page 8