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REGISTERED NUMBER: 03176191 (England and Wales)















Financial Statements for the Year Ended 31 March 2023

for

Heritage Brickwork Limited

Heritage Brickwork Limited (Registered number: 03176191)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Heritage Brickwork Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: J R Chadwick
R J Stacey





SECRETARY: J R Chadwick





REGISTERED OFFICE: SBC House
Restmor Way
Wallington
Surrey
SM6 7AH





REGISTERED NUMBER: 03176191 (England and Wales)





ACCOUNTANTS: Fallows & Company Accountants & Business Advisors
St James House
9-15 St James Road
Surbiton
Surrey
KT6 4QH

Heritage Brickwork Limited (Registered number: 03176191)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 22,989 597,014

CURRENT ASSETS
Stocks 271,365 221,236
Debtors 6 2,327,113 1,268,576
Cash at bank 688,912 868,691
3,287,390 2,358,503
CREDITORS
Amounts falling due within one year 7 2,239,613 1,396,026
NET CURRENT ASSETS 1,047,777 962,477
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,070,766

1,559,491

CREDITORS
Amounts falling due after more than one year 8 (23,144 ) (31,238 )

PROVISIONS FOR LIABILITIES - (71,305 )
NET ASSETS 1,047,622 1,456,948

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 9 - 303,985
Retained earnings 1,046,622 1,151,963
1,047,622 1,456,948

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

Heritage Brickwork Limited (Registered number: 03176191)

Balance Sheet - continued
31 March 2023


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

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 and authorised for issue on 3 November 2023 and were signed on its behalf by:




J R Chadwick - Director



R J Stacey - Director


Heritage Brickwork Limited (Registered number: 03176191)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is SBC House, Restmor Way, Wallington, Surrey, SM6 7AH.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. ACCOUNTING POLICIES

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less and accumulated depreciation and impairment losses.

Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated regulation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Heritage Brickwork Limited (Registered number: 03176191)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


3. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instrument are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measures at amortised cost.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measure at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value unless payment for an asset is deferred beyond normal business terms or financed at rate of interest that is not a market rate, in which case the asset is measures at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measure at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing differences.

Heritage Brickwork Limited (Registered number: 03176191)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


3. ACCOUNTING POLICIES - continued

Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settles wholly within 12 months of the end of the reporting date in which employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

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% straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

Heritage Brickwork Limited (Registered number: 03176191)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


5. TANGIBLE FIXED ASSETS
Freehold Motor
property vehicles Totals
£    £    £   
COST
At 1 April 2022 580,000 94,990 674,990
Additions - 23,989 23,989
Disposals (580,000 ) (65,356 ) (645,356 )
At 31 March 2023 - 53,623 53,623
DEPRECIATION
At 1 April 2022 - 77,976 77,976
Charge for year - 17,339 17,339
Eliminated on disposal - (64,681 ) (64,681 )
At 31 March 2023 - 30,634 30,634
NET BOOK VALUE
At 31 March 2023 - 22,989 22,989
At 31 March 2022 580,000 17,014 597,014

6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 1,482,737 856,279
Other debtors 500 500
Directors' current accounts 242,228 180,828
VAT 170,557 82,063
Prepayments 36,540 16,293
1,932,562 1,135,963

Amounts falling due after more than one year:
Trade debtors 394,551 132,613

Aggregate amounts 2,327,113 1,268,576

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Finance leases 6,172 15,725
Trade creditors 611,573 216,232
Tax 221,033 90,775
Social security and other taxes 11,731 8,712
Other creditors 1,323,004 1,000,939
Accruals and deferred income 66,100 63,643
2,239,613 1,396,026

Heritage Brickwork Limited (Registered number: 03176191)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Finance leases 23,144 31,238

9. RESERVES
Revaluation
reserve
£   
At 1 April 2022 303,985
Deferred tax 71,305
Dividends in specie (375,290 )

At 31 March 2023 -

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
J R Chadwick
Balance outstanding at start of year 93,349 349
Amounts advanced 305,700 314,000
Amounts repaid (275,000 ) (221,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 124,049 93,349

R J Stacey
Balance outstanding at start of year 87,479 -
Amounts advanced 305,700 308,479
Amounts repaid (275,000 ) (221,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 118,179 87,479

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £475,000 (2022 - £383,500) were paid to the directors .

12. ULTIMATE CONTROLLING PARTY

J R Chadwick and R J Stacey, the directors, control the company as a result of controlling directly and indirectly 100% of the issued share capital of the company.