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Registration number: 07933265

Midland Bricklaying Contractors Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Midland Bricklaying Contractors Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 10

 

Midland Bricklaying Contractors Limited

Company Information

Director

Mr Kieron Cassidy

Registered office

The Barns
Whitestitch Lane
Meriden
Warwickshire
CV7 7JE

Accountants

Pattinsons Business Services Ltd
8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

 

Midland Bricklaying Contractors Limited

Director's Report for the Year Ended 31 March 2023

The director presents his report and the financial statements for the year ended 31 March 2023.

Director of the company

The director who held office during the year was as follows:

Mr Kieron Cassidy

Principal activity

The principal activity of the company is that of bricklaying contractors.

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 director on 1 February 2024 and signed on its behalf by:

.........................................
Mr Kieron Cassidy
Director

 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Midland Bricklaying Contractors Limited
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 Midland Bricklaying Contractors Limited for the year ended 31 March 2023 as set out on pages 4 to 10 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 Midland Bricklaying Contractors Limited , 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 Midland Bricklaying Contractors Limited and state those matters that we have agreed to state to the Board of Directors of Midland Bricklaying Contractors Limited , as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Midland Bricklaying Contractors Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Midland Bricklaying Contractors Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Midland Bricklaying Contractors Limited . You consider that Midland Bricklaying Contractors Limited 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 Midland Bricklaying Contractors Limited . 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.

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

Pattinsons Business Services Ltd
8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
CV10 7RJ

1 February 2024

 

Midland Bricklaying Contractors Limited

(Registration number: 07933265)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

115

697

Current assets

 

Debtors

6

100,900

110,825

Creditors: Amounts falling due within one year

7

(65,925)

(70,928)

Net current assets

 

34,975

39,897

Total assets less current liabilities

 

35,090

40,594

Creditors: Amounts falling due after more than one year

7

(34,749)

(40,208)

Provisions for liabilities

(22)

(184)

Net assets

 

319

202

Capital and reserves

 

Called up share capital

10

3

3

Retained earnings

316

199

Shareholders' funds

 

319

202

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.

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 director on 1 February 2024
 

.........................................
Mr Kieron Cassidy
Director

 

Midland Bricklaying Contractors Limited

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 and Wales.

The address of its registered office is:
The Barns
Whitestitch Lane
Meriden
Warwickshire
CV7 7JE

These financial statements were authorised for issue by the director on 1 February 2024.

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.

Government grants

The accrual model is adopted for the recognition of grant income received.

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.

 

Midland Bricklaying Contractors Limited

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 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.

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

20% Reducing balance ethod

Motor vehicles

25% Reducing balance method

Computer equipment

Straight line 3 years

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 from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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 receivables.

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.

 

Midland Bricklaying Contractors Limited

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

Borrowings

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.

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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks, other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company during the year, was 1 (2022 - 1).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

81

252

 

Midland Bricklaying Contractors Limited

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

5

Tangible assets

Motor vehicles
 £

Computer equipment
 £

Plant and machinery
 £

Total
£

Cost or valuation

At 1 April 2022

5,000

1,673

333

7,006

Disposals

(5,000)

-

-

(5,000)

At 31 March 2023

-

1,673

333

2,006

Depreciation

At 1 April 2022

4,499

1,561

249

6,309

Charge for the year

-

64

17

81

Eliminated on disposal

(4,499)

-

-

(4,499)

At 31 March 2023

-

1,625

266

1,891

Carrying amount

At 31 March 2023

-

48

67

115

At 31 March 2022

501

112

84

697

6

Debtors

2023
£

2022
£

Trade debtors

2,270

1,577

Prepayments

11

198

Other debtors

98,619

109,050

100,900

110,825

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

8

22,424

34,960

Trade creditors

 

-

12,950

Taxation and social security

 

27,433

7,070

Other creditors

 

16,068

15,948

 

65,925

70,928

Due after one year

 

Loans and borrowings

8

34,749

40,208

 

Midland Bricklaying Contractors Limited

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

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

34,749

40,208

2023
£

2022
£

Current loans and borrowings

Bank borrowings

10,000

10,000

Bank overdrafts

12,424

24,960

22,424

34,960

9

Government grants

During the period the company received government grants in support of the ongoing pandemic Covid-19
The amount of grants recognised in the financial statements was £Nil (2022 - £208).
 

10

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

Ordinary A share of £1 each

1

1

1

1

Ordinary B share of £1 each

1

1

1

1

 

3

3

3

3

 

Midland Bricklaying Contractors Limited

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

11

Related party transactions

Transactions with director

2023

At 1 April 2022
£

Advances to director
£

Repayments by director
£

At 31 March 2023
£

Loans to director

73,969

7,305

(26,636)

54,638

         
       

 

2022

At 1 April 2021
£

Advances to director
£

Repayments by director
£

At 31 March 2022
£

Loans to director

53,159

109,199

(88,389)

73,969

         
       

 

The loan was interest free up to £10,000 then incurred interest at a rate of 2% on balances in excess of £10,000. The loan is repayable on demand.