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M Hughes Brickwork Contractors Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

Registration number: 06140450

 

M Hughes Brickwork Contractors Ltd

Contents

Statement of financial position

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

M Hughes Brickwork Contractors Ltd

(Registration number: 06140450)
Statement of financial position as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

3,168

4,224

Current assets

 

Debtors

6

8,302

14,898

Cash at bank and in hand

 

66,288

40,308

 

74,590

55,206

Creditors: Amounts falling due within one year

7

(20,558)

(25,069)

Net current assets

 

54,032

30,137

Total assets less current liabilities

 

57,200

34,361

Provisions for liabilities

(602)

(803)

Net assets

 

56,598

33,558

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

56,596

33,556

Shareholders' funds

 

56,598

33,558

For the financial 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.

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.

 

M Hughes Brickwork Contractors Ltd

(Registration number: 06140450)
Statement of financial position as at 31 March 2023

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 director has not delivered to the registrar a copy of the Income statement.

Approved and authorised by the director on 14 November 2023
 

.........................................
Mr M. Hughes
Director

 

M Hughes Brickwork Contractors Ltd

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

1

General information

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

These financial statements were authorised for issue by the director on 14 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 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 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.

Government grants

The entity recognises grant income at the same time as any underlying expenditure. During the year, the entity was in receipt of government grant funds from the Job Retention Scheme. This income was recognised at the same time as the underlying salary expenditure.

Tax

The tax expense for the period comprises current and 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.

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.

 

M Hughes Brickwork Contractors Ltd

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

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 statement of financial position 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

Furniture fittings and equipment

25% Reducing Balance

Motor Vehicles

25% Reducing Balance

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.

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 (2022 - 2).

 

M Hughes Brickwork Contractors Ltd

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

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

1,056

1,408

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

3,774

13,176

16,950

At 31 March 2023

3,774

13,176

16,950

Depreciation

At 1 April 2022

2,677

10,049

12,726

Charge for the year

274

782

1,056

At 31 March 2023

2,951

10,831

13,782

Carrying amount

At 31 March 2023

823

2,345

3,168

At 31 March 2022

1,097

3,127

4,224

6

Debtors

Current

2023
£

2022
£

Other debtors

8,302

14,898

 

M Hughes Brickwork Contractors Ltd

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

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

6,015

10,250

Accruals and deferred income

1,100

1,050

Other creditors

13,443

13,769

20,558

25,069

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2