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REGISTERED NUMBER: 08596546 (England and Wales)















Financial Statements for the Year Ended 31 March 2023

for

D J Swallow Brickwork Limited

D J Swallow Brickwork Limited (Registered number: 08596546)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


D J Swallow Brickwork Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr R S Parks
Mr D J Swallow



REGISTERED OFFICE: Unit 1, Halifax Court
Fernwood Business Park
Cross Lane, Fernwood
Newark
Nottinghamshire
NG24 3JP



REGISTERED NUMBER: 08596546 (England and Wales)



SENIOR STATUTORY AUDITOR: Collin Franklin



AUDITORS: Franklins Accountancy Audit & Tax Limited
1 Pinnacle Way
Pride Park
Derby
Derbyshire
DE24 8ZS

D J Swallow Brickwork Limited (Registered number: 08596546)

Abridged Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 87,407 22,890

CURRENT ASSETS
Stocks 349,576 180,669
Debtors 420,203 244,564
Cash at bank - 139,288
769,779 564,521
CREDITORS
Amounts falling due within one year 316,278 251,152
NET CURRENT ASSETS 453,501 313,369
TOTAL ASSETS LESS CURRENT
LIABILITIES

540,908

336,259

CREDITORS
Amounts falling due after more than one
year

(100,224

)

(123,333

)

PROVISIONS FOR LIABILITIES (21,852 ) (5,723 )
NET ASSETS 418,832 207,203

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 418,732 207,103
418,832 207,203

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2023 and were signed on its behalf by:





Mr D J Swallow - Director


D J Swallow Brickwork Limited (Registered number: 08596546)

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

1. STATUTORY INFORMATION

D J Swallow Brickwork Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. These financial statements have been prepared under the historical cost convention as modified by the use of fair values for certain financial instruments in accordance with the accounting policies set out below.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised when performance obligations are satisfied which occurs when the control of either goods or services are transferred to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Construction contracts
Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

The "percentage of completion method" is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs.


D J Swallow Brickwork Limited (Registered number: 08596546)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
As at 31st March 2023 the company had shareholders' funds of £418,832 (2022: £207,203). The company has made a profit for the year of £371,648 after tax (2022: £262,459). Post year end the company has continued to secure a number of further key contracts within the public and private sector.

The directors have therefore considered the appropriateness of preparing the accounts on a going concern basis and have monitored performance post year end with the company continuing to trade at a comparable level and meet all liability payments as they have fallen due. The directors do not envisage any adverse issues in respect of the future performance of the entity and have therefore prepared the financial statements on a going concern basis.

D J Swallow Brickwork Limited (Registered number: 08596546)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, and loans from and to related parties.

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.

Trade debtors
Trade debtors are amounts due for goods sold or services rendered in the ordinary course of business.

Trade debtors are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtor.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade creditors are recognised at the transaction price.

Trade creditors are classified as current liabilities of the company. The company does not have an unconditional right, at the end of the reporting date, to defer settlement of the creditor for at least twelve months after the reporting date, they are presented as non-current liabilities.

Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimations and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates are underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision a future periods where the revision affects both current and future periods.

Critical Judgements

The following judgements have had the most significant effect on amounts recognised in the financial statements:

Recognition of profit on long term contracts

Profit recognition is the area requiring the greatest use of judgement and is based on an assessment of the overall profitability forecast on individual contracts. Losses are recognised as soon as they are foreseen. Profits are recognised by the directors when the outcome of the contract can be assessed with reasonable certainty. The profit recognised reflects that part of the total profit currently estimated to arise over the duration of the contract that fairly represents the profit attributable to work performed at the accounting date. Contract reviews are undertaken on a monthly basis by senior staff and the company's in house surveying team.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 17 ) .

D J Swallow Brickwork Limited (Registered number: 08596546)

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

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2022 36,112
Additions 94,477
At 31 March 2023 130,589
DEPRECIATION
At 1 April 2022 13,222
Charge for year 29,960
At 31 March 2023 43,182
NET BOOK VALUE
At 31 March 2023 87,407
At 31 March 2022 22,890

5. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 40,000 40,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 40,000 40,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 43,333 83,333

The above loans analysis is mainly in relation to a Coronavirus Business Interruption Loan Scheme Loan (CBILS) entered into by the company on 6th April 2020. The loan terms include an initial 12 month repayment and interest holiday with repayments commencing 17th May 2021with an applicable interest rate of 3.06%.

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Collin Franklin (Senior Statutory Auditor)
for and on behalf of Franklins Accountancy Audit & Tax Limited

D J Swallow Brickwork Limited (Registered number: 08596546)

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

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2023 2022
£    £   
Mr R S Parks
Balance outstanding at start of year (7,117 ) (290 )
Amounts advanced 145,615 124,548
Amounts repaid (138,616 ) (131,375 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (118 ) (7,117 )

Interest has been charged on the overdrawn director's loan account at HM Revenue & Customs official rate of interest at 2% per annum.

8. RELATED PARTY DISCLOSURES

Entities with control, joint control or significant influence over the company

Other related parties

2023 2022
£    £   
Amount due (to)/from related party at the balance sheet date (16,395 ) 105,312

Other related parties

2023 2022
£    £   
Amount due to related party at the balance sheet date 9 1,401

Other related parties

2023 2022
£    £   
Amount due from related party at the balance sheet date 8,846 -

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D J Swallow Holdings Limited.

The company is controlled by its immediate and ultimate parent company D J Swallow Holdings Limited, which is controlled by its majority shareholder, Mr D J Swallow. D J Swallow Holdings Limited is a company registered in England and Wales and shares its registered office address with D J Swallow Brickwork Limited.

The parent company of the largest and smallest group for which consolidated accounts are prepared is D J Swallow Holdings Limited. Consolidated accounts are available from Companies House.