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Registration number: 14332757

Mudwall Brick Supplies Ltd

Unaudited Financial Statements

for the Period from 2 September 2022 to 30 September 2023

 

Mudwall Brick Supplies Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Mudwall Brick Supplies Ltd

(Registration number: 14332757)
Balance Sheet as at 30 September 2023

Note

2023
£

Fixed assets

 

Intangible assets

4

207

Tangible assets

5

1,070

 

1,277

Current assets

 

Stocks

6

1,000

Debtors

7

5,622

Cash at bank and in hand

 

13,822

 

20,444

Creditors: Amounts falling due within one year

8

(44,183)

Net current liabilities

 

(23,739)

Total assets less current liabilities

 

(22,462)

Provisions for liabilities

4,226

Net liabilities

 

(18,236)

Capital and reserves

 

Called up share capital

100

Retained earnings

(18,336)

Shareholders' deficit

 

(18,236)

For the financial period ending 30 September 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 November 2023 and signed on its behalf by:
 

 

Mudwall Brick Supplies Ltd

(Registration number: 14332757)
Balance Sheet as at 30 September 2023

.........................................
Mr Michael Frank Goddard
Director

 

Mudwall Brick Supplies Ltd

Notes to the Unaudited Financial Statements for the Period from 2 September 2022 to 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unit 1 The Cam Centre
Wilbury Way
Hitchin
Herts
SG4 0TW

The principal place of business is:
The Cottage
3 Great Green
Pirton
Hertfordshire
SG5 3QD

These financial statements were authorised for issue by the Board on 10 November 2023.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure of long or short period

The company's reporting period has been extended by 28 days and so these financial statements are presented for a period of 12 months and 28 days. The extension was due to the directors' personal preference to have a reporting period in line with the month end. As this is the first set of financial statements prepared for the company, there are no issues with the comparability of prior period results.

Going concern

The financial statements have been prepared on a going concern basis.

 

Mudwall Brick Supplies Ltd

Notes to the Unaudited Financial Statements for the Period from 2 September 2022 to 30 September 2023

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises 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 deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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:

Asset class

Depreciation method and rate

Plant and Machinery

25% Straight Line

Office Equipment

25% Straight Line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website

15% Straight Line

 

Mudwall Brick Supplies Ltd

Notes to the Unaudited Financial Statements for the Period from 2 September 2022 to 30 September 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

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 at the transaction price.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 at the transaction price.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

 

Mudwall Brick Supplies Ltd

Notes to the Unaudited Financial Statements for the Period from 2 September 2022 to 30 September 2023

4

Intangible assets

Internally generated software development costs
 £

Total
£

Cost or valuation

Additions acquired separately

215

215

At 30 September 2023

215

215

Amortisation

Amortisation charge

8

8

At 30 September 2023

8

8

Carrying amount

At 30 September 2023

207

207

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

Additions

183

949

1,132

At 30 September 2023

183

949

1,132

Depreciation

Charge for the period

31

31

62

At 30 September 2023

31

31

62

Carrying amount

At 30 September 2023

152

918

1,070

Included within the net book value of land and buildings above is £Nil in respect of freehold land and buildings.
 

6

Stocks

2023
£

Other inventories

1,000

 

Mudwall Brick Supplies Ltd

Notes to the Unaudited Financial Statements for the Period from 2 September 2022 to 30 September 2023

7

Debtors

Current

2023
£

Trade debtors

5,382

Prepayments

240

 

5,622

8

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Trade creditors

18,720

Taxation and social security

1,698

Accruals and deferred income

1,250

Other creditors

22,515

44,183

9

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary Share capital of £1 each

100

100

     

10

Related party transactions

At the balance sheet date the company owed £14,147 to Mr M Goddard. There are no terms of repayment or interest charged on this loan.

 

Mudwall Brick Supplies Ltd

Notes to the Unaudited Financial Statements for the Period from 2 September 2022 to 30 September 2023

11

Parent and ultimate parent undertaking

The ultimate controlling party is Michael Goddard by virtue of his majority shareholding.