Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-31098766752023-03-31truetruetruetruetruetrue2022-04-0111falsetrueNo description of principal activity17 09876675 2022-04-01 2023-03-31 09876675 2021-04-01 2022-03-31 09876675 2023-03-31 09876675 2022-03-31 09876675 2021-04-01 09876675 c:Director2 2022-04-01 2023-03-31 09876675 d:Buildings 2022-04-01 2023-03-31 09876675 d:Buildings 2023-03-31 09876675 d:Buildings 2022-03-31 09876675 d:Buildings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 09876675 d:PlantMachinery 2022-04-01 2023-03-31 09876675 d:PlantMachinery 2023-03-31 09876675 d:PlantMachinery 2022-03-31 09876675 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 09876675 d:OfficeEquipment 2022-04-01 2023-03-31 09876675 d:OfficeEquipment 2023-03-31 09876675 d:OfficeEquipment 2022-03-31 09876675 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 09876675 d:ComputerEquipment 2022-04-01 2023-03-31 09876675 d:ComputerEquipment 2023-03-31 09876675 d:ComputerEquipment 2022-03-31 09876675 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 09876675 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 09876675 d:CurrentFinancialInstruments 2023-03-31 09876675 d:CurrentFinancialInstruments 2022-03-31 09876675 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09876675 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 09876675 d:ShareCapital 2023-03-31 09876675 d:ShareCapital 2022-03-31 09876675 d:OtherMiscellaneousReserve 2023-03-31 09876675 d:OtherMiscellaneousReserve 2022-03-31 09876675 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 09876675 d:RetainedEarningsAccumulatedLosses 2023-03-31 09876675 d:RetainedEarningsAccumulatedLosses 2022-03-31 09876675 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2022-04-01 2023-03-31 09876675 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-03-31 09876675 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2022-03-31 09876675 c:OrdinaryShareClass1 2022-04-01 2023-03-31 09876675 c:OrdinaryShareClass1 2023-03-31 09876675 c:OrdinaryShareClass1 2022-03-31 09876675 c:FRS102 2022-04-01 2023-03-31 09876675 c:Audited 2022-04-01 2023-03-31 09876675 c:FullAccounts 2022-04-01 2023-03-31 09876675 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09876675 c:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure



















Monolith Brick and Stone Limited

Registered number: 09876675
Information for filing with the Registrar
For the year ended 31 March 2023

 
 09876675
31 March 2023
MONOLITH BRICK AND STONE LIMITED
REGISTERED NUMBER: 09876675

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
unaudited
Note
£
£

Fixed assets
  

Tangible assets
 5 
114,109
107,182

  
114,109
107,182

Current assets
  

Stocks
 6 
171,774
42,911

Debtors: amounts falling due within one year
 7 
88,039
119,268

Cash at bank and in hand
  
12,337
26,008

  
272,150
188,187

Creditors: amounts falling due within one year
 8 
(2,024,432)
(1,747,330)

Net current liabilities
  
 
 
(1,752,282)
 
 
(1,559,143)

Total assets less current liabilities
  
(1,638,173)
(1,451,961)

Provisions for liabilities
  

Other provisions
 10 
(115,085)
(36,943)

Net liabilities
  
 
 
(1,753,258)
 
 
(1,488,904)


Capital and reserves
  

Called up share capital 
 11 
10
10

Capital contribution reserve
 12 
1,941,884
1,941,884

Profit and loss account
 12 
(3,695,152)
(3,430,798)

  
(1,753,258)
(1,488,904)


- 1 -

 
 09876675
31 March 2023
MONOLITH BRICK AND STONE LIMITED
REGISTERED NUMBER: 09876675
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 February 2024.




K Pritchard
Director

The notes on pages 3 to 13 form part of these financial statements.
- 2 -

 
 09876675
31 March 2023
MONOLITH BRICK AND STONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Monolith Brick and Stone Limited (the "Company") is a private company, limited by shares which is registered and domiciled in England and Wales. The Company's registered number is 09876675. The registered office is set out on the Company Information page within this document.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

These financial statements have been presented in pound sterling which is the functional currency of the Company, and rounded to the nearest £1.
The comparative information in the accounts was unaudited as the company was entitled to exemption from audit.

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Greenthumb Limited as at 31 March 2023 and these financial statements may be obtained from Companies House.

- 3 -

 
 09876675
31 March 2023
MONOLITH BRICK AND STONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

Going concern

The Company’s forecasts and projections which take into account the risks and uncertainties, show that the Company should be able to operate within the level of its current working capital requirements. The ongoing support of its parent company, GreenThumb Limited, is expected to continue. 
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for a period of at least 12 months from the date of approval of these financial statements, as supported by its parent company, GreenThumb Limited. For this reason, they continue to adopt, and consider appropriate, the going concern basis in preparing the financial statements.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.
- 4 -

 
 09876675
31 March 2023
MONOLITH BRICK AND STONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

- 5 -

 
 09876675
31 March 2023
MONOLITH BRICK AND STONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Leasehold improvements
-
5
years straight line
Plant & machinery
-
5
years straight line
Office equipment
-
5
years straight line
Computer equipment
-
3
years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

- 6 -

 
 09876675
31 March 2023
MONOLITH BRICK AND STONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
 
- 7 -

 
 09876675
31 March 2023
MONOLITH BRICK AND STONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.14
Financial instruments (continued)

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.



 
- 8 -

 
 09876675
31 March 2023
MONOLITH BRICK AND STONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.14
Financial instruments (continued)


Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In preparing these financial statements, the directors have made the following judgments:

determine whether there are indicators of impairment of the Company's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset.
 
determine whether there are indicators of impairment of the Company's trade and other debtors. When assessing impairment of trade and other debtors, management considers factors such as the ageing profile and historical experience.


4.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2023
   2022 unaudited
            No.
            No.







Average number of employees
17
11

- 9 -

 
 09876675
31 March 2023
MONOLITH BRICK AND STONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Tangible fixed assets





Leasehold improvements
Plant & machinery
Office equipment
Computer equipment
Total

£
£
£
£
£



Cost 


At 1 April 2022
62,684
207,044
4,484
31,305
305,517


Additions
-
37,632
-
-
37,632



At 31 March 2023

62,684
244,676
4,484
31,305
343,149



Depreciation


At 1 April 2022
11,999
150,618
4,413
31,305
198,335


Charge for the year
12,538
18,096
71
-
30,705



At 31 March 2023

24,537
168,714
4,484
31,305
229,040



Net book value



At 31 March 2023
38,147
75,962
-
-
114,109



At 31 March 2022 (unaudited)
50,685
56,426
71
-
107,182


6.


Stocks

2023
2022 unaudited
£
£

Raw materials and consumables
171,774
42,911


- 10 -

 
 09876675
31 March 2023
MONOLITH BRICK AND STONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Debtors

2023
2022 unaudited
£
£


Trade debtors
20,641
42,887

Other debtors
5,254
5,994

Prepayments and accrued income
62,144
70,387

88,039
119,268



8.


Creditors: Amounts falling due within one year

2023
2022 unaudited
£
£

Trade creditors
51,253
16,726

Amounts owed to group undertakings
1,869,627
1,541,038

Other taxation and social security
-
3,348

Obligations under finance lease and hire purchase contracts
-
2,089

Other creditors
1,000
2,047

Accruals and deferred income
102,552
182,082

2,024,432
1,747,330


Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

- 11 -

 
 09876675
31 March 2023
MONOLITH BRICK AND STONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Deferred taxation


2022 


£






At beginning of year (unaudited)
(8,669)


Charged to profit or loss
8,669



At end of year
-


10.


Provisions


Provisions

£





At 1 April 2022 (unaudited)
36,943


Charged to the profit or loss
78,142



At 31 March 2023
115,085


11.


Share capital

2023
2022 unaudited
£
£
Allotted, called up and fully paid



10 (2022 - 10) Ordinary shares of £1.00 each
10
10



12.


Reserves

Capital contribution
This comprises a capital contribution following the release of a liability owed to the parent company.

Profit & loss account

This comprises accumulated profits and losses.

- 12 -

 
 09876675
31 March 2023
MONOLITH BRICK AND STONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £6,544 (2022 - £4,933). Contributions totalling £Nil (2022 - £1,047) were payable to the fund at the reporting date and are included in creditors.


14.


Related party transactions

The Company has taken advantage of the disclosure exemption from the requirements of section 33 Related Party Disclosures paragraph 33.7 in preparing financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
As at the year end the Company owes £1,000 (2022 - £1,000) to the directors. 


15.


Controlling party

The ultimate controlling party is S Waring by virtue of his shareholding in the parent company, Greenthumb Limited.
The Company is a wholly owned subsidiary of Greenthumb Limited. Greenthumb Limited is the ultimate parent company and the smallest and largest group in which the results of the Company are consolidated. The consolidated accounts of Greenthumb Limited are available from Companies House.

16.


Auditor's information

The auditor's report on the financial statements for the year ended 31 March 2023 was unqualified.

The audit report was signed on 19 February 2024 by Neil Barton (Senior Statutory Auditor) on behalf of Mazars LLP.

- 13 -