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Registration number: 12525693

Pro Point Brickwork Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Pro Point Brickwork Ltd

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 14

 

Pro Point Brickwork Ltd

Company Information

Directors

Scott Calvert

Mrs Natasha Calvert

Company secretary

Britannia Accountancy & Tax Ltd

Registered office

A24 The Sanderson Centre
Lees Lane
Gosport
Hampshire
PO12 3UL

Accountants

Britannia Accountancy & Tax Ltd
A24 The Sanderson Centre
Lees Lane
Gosport
Hampshire
PO12 3UL

 

Pro Point Brickwork Ltd

Directors' Report for the Year Ended 31 March 2023

The directors present their report and the financial statements for the year ended 31 March 2023.

Directors of the company

The directors who held office during the year were as follows:

Scott Calvert

Mrs Natasha Calvert

Principal activity

The principal activity of the company is Bricklaying

Small companies provision statement

This report has 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.

Approved by the Board on 22 November 2023 and signed on its behalf by:

.........................................
Scott Calvert
Director

.........................................
Mrs Natasha Calvert
Director

 
     
 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Pro Point Brickwork Ltd
for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Pro Point Brickwork Ltd for the year ended 31 March 2023 as set out on pages 4 to 14 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Pro Point Brickwork Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Pro Point Brickwork Ltd and state those matters that we have agreed to state to the Board of Directors of Pro Point Brickwork Ltd, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pro Point Brickwork Ltd and its Board of Directors as a body for our work or for this report. To the best of our knowledge at the time of preparation; all information contained in this report is accurate, based upon the information and representations made to us by Pro Point Brickwork Ltd

It is your duty to ensure that Pro Point Brickwork Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Pro Point Brickwork Ltd. You consider that Pro Point Brickwork Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Pro Point Brickwork Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Britannia Accountancy & Tax Ltd
A24 The Sanderson Centre
Lees Lane
Gosport
Hampshire
PO12 3UL

22 November 2023

 

Pro Point Brickwork Ltd

Profit and Loss Account for the Year Ended 31 March 2023

Note

2023
£

2022
£

Turnover

 

84,256

114,653

Cost of sales

 

(43,221)

(51,311)

Gross profit

 

41,035

63,342

Administrative expenses

 

(39,665)

(41,530)

Operating profit

 

1,370

21,812

Interest payable and similar expenses

 

(3,118)

-

(Loss)/profit before tax

4

(1,748)

21,812

(Loss)/profit for the financial year

 

(1,748)

21,812

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Pro Point Brickwork Ltd

Statement of Comprehensive Income for the Year Ended 31 March 2023

2023
£

2022
£

(Loss)/profit for the year

(1,748)

21,812

Total comprehensive income for the year

(1,748)

21,812

 

Pro Point Brickwork Ltd

(Registration number: 12525693)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

5

44,000

49,500

Tangible assets

6

2,354

2,870

 

46,354

52,370

Current assets

 

Cash at bank and in hand

 

2,185

2,138

Creditors: Amounts falling due within one year

7

(48,471)

(52,692)

Net current liabilities

 

(46,286)

(50,554)

Net assets

 

68

1,816

Capital and reserves

 

Called up share capital

8

4

4

Retained earnings

64

1,812

Shareholders' funds

 

68

1,816

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.

Directors' 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 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.

Approved and authorised by the Board on 22 November 2023 and signed on its behalf by:
 

.........................................
Scott Calvert
Director

.........................................
Mrs Natasha Calvert
Director

 
     
 

Pro Point Brickwork Ltd

Statement of Changes in Equity for the Year Ended 31 March 2023

Share capital
£

Retained earnings
£

Total
£

At 1 April 2022

4

1,812

1,816

Loss for the year

-

(1,748)

(1,748)

At 31 March 2023

4

64

68

Share capital
£

Retained earnings
£

Total
£

Profit for the year

-

21,812

21,812

Dividends

-

(20,000)

(20,000)

New share capital subscribed

4

-

4

At 31 March 2022

4

1,812

1,816

 

Pro Point Brickwork 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 & Wales.

The address of its registered office is:
A24 The Sanderson Centre
Lees Lane
Gosport
Hampshire
PO12 3UL

These financial statements were authorised for issue by the Board on 22 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 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.

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.

 

Pro Point Brickwork Ltd

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

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

18% on net book value

Vehicles

18% on net book value

Office equipment

18% on net book value

Furniture and fittings

18% on net book value

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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

Goodwill

10% on cost

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 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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Pro Point Brickwork Ltd

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

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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 directors) during the year, was 2 (2022 - 2).

4

Loss/profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

516

630

Amortisation expense

5,500

5,500

 

Pro Point Brickwork Ltd

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

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2022

55,000

55,000

At 31 March 2023

55,000

55,000

Amortisation

At 1 April 2022

5,500

5,500

Amortisation charge

5,500

5,500

At 31 March 2023

11,000

11,000

Carrying amount

At 31 March 2023

44,000

44,000

At 31 March 2022

49,500

49,500

6

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

3,500

3,500

At 31 March 2023

3,500

3,500

Depreciation

At 1 April 2022

630

630

Charge for the year

516

516

At 31 March 2023

1,146

1,146

Carrying amount

At 31 March 2023

2,354

2,354

At 31 March 2022

2,870

2,870

7

Creditors

Creditors: amounts falling due within one year

 

Pro Point Brickwork Ltd

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

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

42,091

49,502

Accruals and deferred income

 

6,380

3,190

 

48,471

52,692

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

Ordinary Non Voting A of £1 each

1

1

1

1

Ordinary Non Voting B of £1 each

1

1

1

1

 

4

4

4

4

9

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Other borrowings

42,091

49,502

10

Dividends

Final dividends paid

 

2023
£

2022
£

Final dividend of £0 per each Ordinary share

-

-

     

Interim dividends paid

 

2023
£

2022
£

Interim dividend of £0 (2022 - £10,000) per each Ordinary share

-

20,000

     
 

Pro Point Brickwork Ltd

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

11

Related party transactions

 

Pro Point Brickwork Ltd

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

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

15,054

7,370