Registered number
04254501
South West Brick & Stone Limited
Report and Accounts
31 December 2023
South West Brick & Stone Limited
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Profit and loss account 3
Balance sheet 4
Statement of changes in equity 5
Notes to the accounts 6 - 9
Detailed profit and loss and summaries 10 - 12
South West Brick & Stone Limited
Company Information
Directors
Mr G Norton
Mr D F Salt
Mr A D Hobbs
Secretary
Adrian Hobbs
Registered office
The Brick Loft
KACH Business Park, Soby Mews
Bovey Tracey
Devon
TQ13 9JG
Registered number
04254501
South West Brick & Stone Limited
Registered number: 04254501
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 continued to be the supply of brick and stone products within the construction industry.
Directors
The following persons served as directors during the year:
Mr G Norton
Mr D F Salt
Mr A D 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 by its order.
Adrian Hobbs
Secretary
South West Brick & Stone Limited
Profit and Loss Account
for the year ended 31 December 2023
2023 2022
£ £
Turnover 7,025,370 8,899,901
Cost of sales (6,213,987) (7,801,515)
Gross profit 811,383 1,098,386
Administrative expenses (500,431) (532,713)
Operating profit 310,952 565,673
Profit on the disposal of tangible fixed assets 25,185 8,590
Interest receivable 3,471 -
Interest payable (2,137) (675)
Profit on ordinary activities before taxation 337,471 573,588
Tax on profit on ordinary activities (94,135) (122,338)
Profit for the financial year 243,336 451,250
South West Brick & Stone Limited
Registered number: 04254501
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 72,284 113,752
Current assets
Debtors 4 1,256,771 1,377,243
Cash at bank and in hand 516,967 605,223
1,773,738 1,982,466
Creditors: amounts falling due within one year 5 (1,097,330) (1,245,557)
Net current assets 676,408 736,909
Total assets less current liabilities 748,692 850,661
Creditors: amounts falling due after more than one year 6 (31,326) (51,926)
Net assets 717,366 798,735
Capital and reserves
Called up share capital 673 673
Capital redemption reserve 7 327 327
Profit and loss account 716,366 797,735
Shareholders' funds 717,366 798,735
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.
Gary Norton
Director
Approved by the board on 26 July 2024
South West Brick & Stone Limited
Statement of Changes in Equity
for the year ended 31 December 2023
Share Capital Profit Total
capital redemption and loss
reserve account
£ £ £
At 1 January 2022 673 327 586,485 587,485
Profit for the financial year 451,250 451,250
Dividends (240,000) (240,000)
At 31 December 2022 673 327 797,735 798,735
At 1 January 2023 673 327 797,735 798,735
Profit for the financial year 243,336 243,336
Dividends (324,705) (324,705)
At 31 December 2023 673 327 716,366 717,366
South West Brick & Stone 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 represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Freehold Property 4% straight line
Plant and machinery 33% straight line
Motor vehicles 33% straight line
Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 8 7
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 32,514 174,456 206,970
Additions 4,712 - 4,712
Disposals - (53,025) (53,025)
At 31 December 2023 37,226 121,431 158,657
Depreciation
At 1 January 2023 29,965 63,253 93,218
Charge for the year 2,758 40,476 43,234
On disposals - (50,079) (50,079)
At 31 December 2023 32,723 53,650 86,373
Net book value
At 31 December 2023 4,503 67,781 72,284
At 31 December 2022 2,549 111,203 113,752
4 Debtors 2023 2022
£ £
Trade debtors 1,146,106 1,120,687
Amounts owed by group undertakings and undertakings in which the company has a participating interest - 74,705
Other debtors 110,665 181,851
1,256,771 1,377,243
5 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 31,233 40,309
Trade creditors 878,139 881,954
Corporation tax 94,135 122,338
Other taxes and social security costs 43,304 58,368
Other creditors 50,519 142,588
1,097,330 1,245,557
6 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 20,693 51,926
Other creditors 10,633 -
31,326 51,926
7 Capital redemption reserve
£
At 1 January 2023 327
Transfer from the profit and loss account -
At 31 December 2023 327
8 Profit and loss account 2023
£
At 1 January 2023 797,735
Prior year adjustments -
At 1 January 2023 797,735
Profit for the year 243,336
Buyback of Shares -
Dividends (324,705)
Transfer to capital redemption reserve -
At 31 December 2023 716,366
9 Related party transactions 2023 2022
£ £
Kingswood Homes (UK) Limited
The Estate of Alastair Salt is deemed to control Kingswood Homes (UK) Limited through it's interest in the share capital of the company
During the year the company sold goods amounting to 20,573 53,725
Included in trade debtors is an outstanding amount of 5,691
Kach Developments Ltd
A D Hobbs is deemed to control Kach Developments Ltd through his interest in the share capital of the company
During the year the company sold goods amounting to 55,133
During the year the company purchased goods amounting to 720
Included in trade debtors is an outstanding amount of
Included in trade creditors is an outstanding amount of 720
10 Controlling party
South West Brick & Stone (Holdings) Limited
The Brick Loft
KACH Business Park, Soby Mews
Bovey Tracey
Devon
TQ13 9JG
During the year the company purchased services amounting to 15,900
11 Other information
South West Brick & Stone Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Brick Loft
KACH Business Park, Soby Mews
Bovey Tracey
Devon
TQ13 9JG
South West Brick & Stone Limited 04254501 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts April 2024 Gary Norton 04254501 2022-01-01 2022-12-31 04254501 bus:AllOrdinaryShares core:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 04254501 core:WithinOneYear 2022-12-31 04254501 core:AfterOneYear 2022-12-31 04254501 core:ShareCapital 2022-12-31 04254501 core:RetainedEarningsAccumulatedLosses 2022-12-31 04254501 2021-12-31 04254501 core:ShareCapital 2021-12-31 04254501 core:RetainedEarningsAccumulatedLosses 2021-12-31 04254501 2023-01-01 2023-12-31 04254501 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04254501 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04254501 bus:Director1 2023-01-01 2023-12-31 04254501 bus:Director3 2023-01-01 2023-12-31 04254501 bus:CompanySecretary1 2023-01-01 2023-12-31 04254501 bus:Director40 2023-01-01 2023-12-31 04254501 core:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 04254501 bus:AllOrdinaryShares core:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 04254501 1 2023-01-01 2023-12-31 04254501 2 2023-01-01 2023-12-31 04254501 core:PlantMachinery 2023-01-01 2023-12-31 04254501 core:Vehicles 2023-01-01 2023-12-31 04254501 countries:England 2023-01-01 2023-12-31 04254501 bus:FRS102 2023-01-01 2023-12-31 04254501 bus:FullAccounts 2023-01-01 2023-12-31 04254501 2023-12-31 04254501 core:WithinOneYear 2023-12-31 04254501 core:AfterOneYear 2023-12-31 04254501 core:ShareCapital 2023-12-31 04254501 core:RetainedEarningsAccumulatedLosses 2023-12-31 04254501 core:PlantMachinery 2023-12-31 04254501 core:Vehicles 2023-12-31 04254501 2022-12-31 04254501 core:PlantMachinery 2022-12-31 04254501 core:Vehicles 2022-12-31 iso4217:GBP xbrli:pure