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Registration number: SC320259

Tom Brock Grate Builders Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Tom Brock Grate Builders Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Financial Statements

5 to 9

 

Tom Brock Grate Builders Limited

Company Information

Directors

Miss M Brock

Mr T Brock

Miss C Brock

Company secretary

Miss M Brock

Registered office

 

Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

Accountants

Glen Drummond Ltd
Chartered Accountants
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Tom Brock Grate Builders Limited
for the Year Ended 30 June 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Tom Brock Grate Builders Limited for the year ended 30 June 2023 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Tom Brock Grate Builders 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 Tom Brock Grate Builders Limited and state those matters that we have agreed to state to the Board of Directors of Tom Brock Grate Builders Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tom Brock Grate Builders Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Tom Brock Grate Builders 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 Tom Brock Grate Builders Limited. You consider that Tom Brock Grate Builders 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 Tom Brock Grate Builders 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.

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

Glen Drummond Ltd
Chartered Accountants
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

22 February 2024

 

Tom Brock Grate Builders Limited

(Registration number: SC320259)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

29,542

39,805

Current assets

 

Stocks

5

50,833

46,667

Debtors

6

52,294

38,489

Cash at bank and in hand

 

273,048

187,402

 

376,175

272,558

Creditors: Amounts falling due within one year

7

(139,028)

(143,012)

Net current assets

 

237,147

129,546

Total assets less current liabilities

 

266,689

169,351

Provisions for liabilities

(7,089)

(7,289)

Net assets

 

259,600

162,062

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

259,500

161,962

Shareholders' funds

 

259,600

162,062

For the financial year ending 30 June 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 Sections 386 and 387 of the Companies Act 2006 with respect to accounting records and the preparation of the financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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.

 

Tom Brock Grate Builders Limited

(Registration number: SC320259)
Balance Sheet as at 30 June 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 22 February 2024 and signed on its behalf by:
 

.........................................
Mr T Brock
Director

 

Tom Brock Grate Builders Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

These financial statements were authorised for issue by the Board on 22 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 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. There were no material departures from that standard.

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.

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

Revenue recognition

Turnover comprises the fair value of the consideration derived from that of gas installation and the retail of stoves and fireplaces. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

 

Tom Brock Grate Builders Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.

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.

At the balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £500 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred.

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

Motor vehicles

25% reducing balance

Other property, plant and equipment

20% straight line

 

Tom Brock Grate Builders Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 5 (2022 - 5).

4

Tangible assets

Motor vehicles
 £

Other property, plant and equipment
£

Total
£

Cost or valuation

At 1 July 2022

57,439

6,245

63,684

At 30 June 2023

57,439

6,245

63,684

Depreciation

At 1 July 2022

21,380

2,498

23,878

Charge for the year

9,015

1,249

10,264

At 30 June 2023

30,395

3,747

34,142

Carrying amount

At 30 June 2023

27,044

2,498

29,542

At 30 June 2022

36,058

3,747

39,805

 

Tom Brock Grate Builders Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

5

Stocks

2023
£

2022
£

Stock

50,833

46,667

6

Debtors

2023
£

2022
£

Trade debtors

39,000

35,500

Other debtors

13,294

2,989

52,294

38,489

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

25,355

52,723

Taxation and social security

52,445

29,349

Accruals and deferred income

58,429

55,110

Other creditors

2,799

5,830

139,028

143,012

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         
 

Tom Brock Grate Builders Limited

Notes to the Financial Statements for the Year Ended 30 June 2023

9

Related party transactions

The company operates a loan account with the director, Mr T Brock.

During the year, the company advanced loans totalling £9,546 to the director. At the year end, the balance due from the director was £9,517 (2022 - £29 due to the director). This loan is unsecured, interest free and has no fixed repayment terms.