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REGISTERED NUMBER: 02524270 (England and Wales)















Brick Store Limited

Financial Statements

for the Year Ended 31 August 2023






Brick Store Limited (Registered number: 02524270)






Contents of the Financial Statements
for the year ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Brick Store Limited

Company Information
for the year ended 31 August 2023







DIRECTORS: MS Graham
A Graham





SECRETARY: JA Pennell





REGISTERED OFFICE: Richard Street
Off Warrington Road
Wigan
Lancashire
WN3 4JN





REGISTERED NUMBER: 02524270 (England and Wales)





AUDITORS: McMillan & Co LLP
Chartered Accountants and
Statutory Auditor
28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA

Brick Store Limited (Registered number: 02524270)

Balance Sheet
31 August 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 536,531 546,878

CURRENT ASSETS
Stocks 1,918,403 2,492,314
Debtors 5 1,481,445 2,256,466
Cash at bank and in hand 170,726 165,979
3,570,574 4,914,759
CREDITORS
Amounts falling due within one year 6 1,065,634 2,525,817
NET CURRENT ASSETS 2,504,940 2,388,942
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,041,471

2,935,820

CREDITORS
Amounts falling due after more than one
year

7

(159,032

)

(280,898

)

PROVISIONS FOR LIABILITIES (11,393 ) (18,893 )
NET ASSETS 2,871,046 2,636,029

CAPITAL AND RESERVES
Called up share capital 42,000 42,000
Revaluation reserve 10 199,864 199,864
Retained earnings 2,629,182 2,394,165
2,871,046 2,636,029

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

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 22 January 2024 and were signed on its behalf by:





MS Graham - Director


Brick Store Limited (Registered number: 02524270)

Notes to the Financial Statements
for the year ended 31 August 2023

1. STATUTORY INFORMATION

Brick Store 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.

The presentation currency of the financial statements is the Pound Sterling (£).


Amounts are rounded to the nearest £1.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Despite the reduction in trade following the post-pandemic increase, the company remains in a strong position. The directors have reviewed the trading position for the next 12 months, and have confirmed that a going concern basis is appropriate.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 20% on cost

The company revalued assets on transition to FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". It does not have a policy of triennial revaluations.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial instruments are classified and accounted for according to the substance of the contractual arrangement as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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.


Brick Store Limited (Registered number: 02524270)

Notes to the Financial Statements - continued
for the year ended 31 August 2023

2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£ £ £
COST OR VALUATION
At 1 September 2022 481,954 146,156 21,420
Additions - - -
Disposals - - -
At 31 August 2023 481,954 146,156 21,420
DEPRECIATION
At 1 September 2022 123,166 39,297 21,420
Charge for year 5,366 27,390 -
Eliminated on disposal - - -
At 31 August 2023 128,532 66,687 21,420
NET BOOK VALUE
At 31 August 2023 353,422 79,469 -
At 31 August 2022 358,788 106,859 -

Brick Store Limited (Registered number: 02524270)

Notes to the Financial Statements - continued
for the year ended 31 August 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£ £ £
COST OR VALUATION
At 1 September 2022 114,189 83,387 847,106
Additions 90,805 4,162 94,967
Disposals (79,094 ) - (79,094 )
At 31 August 2023 125,900 87,549 862,979
DEPRECIATION
At 1 September 2022 38,597 77,748 300,228
Charge for year 21,462 1,856 56,074
Eliminated on disposal (29,854 ) - (29,854 )
At 31 August 2023 30,205 79,604 326,448
NET BOOK VALUE
At 31 August 2023 95,695 7,945 536,531
At 31 August 2022 75,592 5,639 546,878

Cost or valuation at 31 August 2023 is represented by:

Fixtures
Freehold Plant and and
property machinery fittings
£ £ £
Valuation in 2006 199,863 - -
Cost 282,091 146,156 21,420
481,954 146,156 21,420

Motor Computer
vehicles equipment Totals
£ £ £
Valuation in 2006 - - 199,863
Cost 125,900 87,549 663,116
125,900 87,549 862,979

If freehold land and property had not been revalued they would have been included at the following historical cost:

2023 2022
£ £
Cost 282,091 282,091

Value of land in freehold land and buildings 100,800 100,800

Brick Store Limited (Registered number: 02524270)

Notes to the Financial Statements - continued
for the year ended 31 August 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£ £ £
COST OR VALUATION
At 1 September 2022 136,950 61,095 198,045
Disposals - (26,000 ) (26,000 )
At 31 August 2023 136,950 35,095 172,045
DEPRECIATION
At 1 September 2022 30,092 15,274 45,366
Charge for year 27,390 8,774 36,164
Eliminated on disposal - (6,501 ) (6,501 )
At 31 August 2023 57,482 17,547 75,029
NET BOOK VALUE
At 31 August 2023 79,468 17,548 97,016
At 31 August 2022 106,858 45,821 152,679

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 1,481,445 2,256,466

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts (see note 8) 90,909 90,909
Hire purchase contracts 27,586 41,068
Trade creditors 476,770 1,167,253
Taxation and social security 267,153 525,143
Other creditors 203,216 701,444
1,065,634 2,525,817

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans (see note 8) 159,032 249,941
Hire purchase contracts - 30,957
159,032 280,898

Brick Store Limited (Registered number: 02524270)

Notes to the Financial Statements - continued
for the year ended 31 August 2023

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£ £
Amounts falling due within one year or on demand:
Bank loans 90,909 90,909

Amounts falling due between one and two years:
Bank loans - 1-2 years 90,909 90,909

Amounts falling due between two and five years:
Bank loans - 2-5 years 68,123 159,032

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Bank loans 249,941 340,850
Hire purchase contracts 27,586 72,025
Other creditors - 539,661
277,527 952,536

The bank loan is a Coronavirus Business Interruption Loan. This is partially guaranteed by the Government, but has been treated as a secured debt as the lender holds a debenture over the property and assets held by the business.

Other creditors includes amounts owed on debts which are subject to invoice discounting. This creditor is secured by the net book debt of the company.

Hire purchase liabilities are secured by the underlying assets.

10. RESERVES
Revaluation
reserve
£
At 1 September 2022
and 31 August 2023 199,864

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

The Report of the Auditors was unqualified.

Neil McMillan (Senior Statutory Auditor)
for and on behalf of McMillan & Co LLP

Brick Store Limited (Registered number: 02524270)

Notes to the Financial Statements - continued
for the year ended 31 August 2023

12. ULTIMATE CONTROLLING PARTY

The controlling party is MS Graham.

The ultimate controlling party is MS Graham.