Registered number
10678057
South West Brick and Stone (Holdings) Limited
Report and Accounts
31 December 2023
South West Brick and Stone (Holdings) Limited
Registered number: 10678057
Directors' Report
The directors present their report and accounts for the year ended 31 December 2023.
Principal activities
The company's principal activity during the year was a Investment Holding Company
Directors
The following persons served as directors during the year:
Daniel Fallows Salt
Gary Norton
Adrian David Hobbs
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 26 July 2024 and signed on its behalf.
Gary Norton
Director
South West Brick and Stone (Holdings) Limited
Profit and Loss Account
for the year ended 31 December 2023
2023 2022
£ £
Administrative expenses (13,645) (13,166)
Other operating income 13,250 13,250
Operating (loss)/profit (395) 84
Income from investments 324,705 240,000
Interest receivable 201 -
Profit before taxation 324,511 240,084
Tax on profit (2,588) (2,224)
Profit for the financial year 321,923 237,860
South West Brick and Stone (Holdings) Limited
Registered number: 10678057
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 192,252 203,198
Investments 4 673 673
192,925 203,871
Current assets
Cash at bank and in hand 44,010 36,304
Creditors: amounts falling due within one year 5 (3,683) (78,846)
Net current assets/(liabilities) 40,327 (42,542)
Net assets 233,252 161,329
Capital and reserves
Called up share capital 673 673
Revaluation reserve 6 5,000 5,000
Profit and loss account 227,579 155,656
Shareholders' funds 233,252 161,329
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Adrian Hobbs
Director
Approved by the board on 26 July 2024
South West Brick and Stone (Holdings) Limited
Statement of Changes in Equity
for the year ended 31 December 2023
Share Share Re- Profit Total
capital premium valuation and loss
reserve account
£ £ £ £ £
At 1 January 2022 673 - 5,000 157,796 163,469
Profit for the financial year 237,860 237,860
Dividends (240,000) (240,000)
At 31 December 2022 673 - 5,000 155,656 161,329
At 1 January 2023 673 - 5,000 155,656 161,329
Profit for the financial year 321,923 321,923
Dividends (250,000) (250,000)
At 31 December 2023 673 - 5,000 227,579 233,252
South West Brick and Stone (Holdings) Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 25 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 245,015 9,110 254,125
At 31 December 2023 245,015 9,110 254,125
Depreciation
At 1 January 2023 43,418 7,509 50,927
Charge for the year 9,800 1,146 10,946
At 31 December 2023 53,218 8,655 61,873
Net book value
At 31 December 2023 191,797 455 192,252
At 31 December 2022 201,597 1,601 203,198
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2023 673
At 31 December 2023 673
Historical cost
At 1 January 2023 673
At 31 December 2023 673
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 600 1,134
Taxation and social security costs 3,083 3,007
Other creditors - 74,705
3,683 78,846
6 Revaluation reserve 2023 2022
£ £
At 1 January 2023 5,000 5,000
At 31 December 2023 5,000 5,000
7 Other information
South West Brick and Stone (Holdings) Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Brick Loft
Soby Mews
Bovey Tracey
Devon
TQ13 9JG
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