Saffron Brickwork Ltd
Filleted Accounts
31 March 2023
Registered number
10644329
Saffron Brickwork Ltd
Registered number: 10644329
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 50,122 67,794
Current assets
Debtors 5 822,050 577,221
Cash at bank and in hand 157,260 312,716
979,310 889,937
Creditors: amounts falling due within one year 6 (340,473) (384,253)
Net current assets 638,837 505,684
Total assets less current liabilities 688,959 573,478
Creditors: amounts falling due after more than one year 7 (61,440) (81,372)
Provisions for liabilities (12,530) -
Net assets 614,989 492,106
Capital and reserves
Called up share capital 100 100
Profit and loss account 614,889 492,006
Shareholders' funds 614,989 492,106
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr R Anderson
Director
Approved by the board on 21 November 2023
Saffron Brickwork Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Office equipment over 4 years
Motor vehicles over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
3 Taxation 2023 2022
£ £
UK corporation tax 71,553 66,240
Deferred tax 12,530
Prior year corporation tax adjustment (47,363) -
36,720 66,240
4 Tangible fixed assets
Plant and machinery Office equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 3,931 1,041 89,261 94,233
Additions - 2,206 - 2,206
Disposals - - (28,890) (28,890)
At 31 March 2023 3,931 3,247 60,371 67,549
Depreciation
At 1 April 2022 1,695 912 23,832 26,439
Charge for the year 1,410 616 12,074 14,100
On disposals - - (23,112) (23,112)
At 31 March 2023 3,105 1,528 12,794 17,427
Net book value
At 31 March 2023 826 1,719 47,577 50,122
At 31 March 2022 2,236 129 65,429 67,794
5 Debtors 2023 2022
£ £
Trade debtors 501,113 186,071
CIS debtor 1,600 7,723
Retention debtor 253,125 225,038
Accrued income - 61,118
Other debtors 66,212 97,271
822,050 577,221
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bounce back loan (unsecured) 10,000 10,000
Obligations under finance lease and hire purchase contracts 9,932 14,699
Trade creditors 149,688 189,510
Directors loan account 53,015 61,696
Taxation and social security costs 71,553 66,240
Other creditors 46,285 42,108
340,473 384,253
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bounce back loan (unsecured) 21,667 31,667
Obligations under finance lease and hire purchase contracts 39,773 49,705
61,440 81,372
8 Other information
Saffron Brickwork Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Stansted House
Shire Hill
Saffron Walden
Essex
CB11 3AQ
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