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Company registration number: 14512379
North East Brickwork Limited
Unaudited filleted financial statements
30 November 2023
North East Brickwork Limited
Contents
Directors and other information
Directors report
Accountants report
Statement of financial position
Notes to the financial statements
North East Brickwork Limited
Directors and other information
Directors Mr David Curry (Appointed 29 November 2022)
Mr Alan Curry (Appointed 29 November 2022)
Company number 14512379
Registered office 66 Church Street
Hartlepool
TS24 7DN
Accountants Censis
Exchange Building
66 Church Street
Hartlepool
TS24 7DN
North East Brickwork Limited
Directors report
Period ended 30 November 2023
The directors present their report and the unaudited financial statements of the company for the period ended 30 November 2023.
Directors
The directors who served the company during the period were as follows:
Mr David Curry (Appointed 29 November 2022)
Mr Alan Curry (Appointed 29 November 2022)
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 12 August 2024 and signed on behalf of the board by:
Mr David Curry
Director
North East Brickwork Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of North East Brickwork Limited
Period ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of North East Brickwork Limited for the period ended 30 November 2023 which comprise the statement of financial position and related notes 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 in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of North East Brickwork 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 financial statements of North East Brickwork Limited and state those matters that we have agreed to state to the board of directors of North East Brickwork Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than North East Brickwork Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that North East Brickwork Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of North East Brickwork Limited. You consider that North East Brickwork Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of North East Brickwork 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 financial statements.
Censis
Chartered Accountants
Exchange Building
66 Church Street
Hartlepool
TS24 7DN
12 August 2024
North East Brickwork Limited
Statement of financial position
30 November 2023
30/11/23
Note £ £
Fixed assets
Tangible assets 5 6,608
_______
6,608
Current assets
Debtors 6 24,803
Cash at bank and in hand 28,171
_______
52,974
Creditors: amounts falling due
within one year 7 ( 41,403)
_______
Net current assets 11,571
_______
Total assets less current liabilities 18,179
Creditors: amounts falling due
after more than one year 8 ( 3,182)
Provisions for liabilities ( 1,652)
_______
Net assets 13,345
_______
Capital and reserves
Called up share capital 200
Profit and loss account 13,145
_______
Shareholders funds 13,345
_______
For the period ending 30 November 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 financial statements for the period in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 12 August 2024 , and are signed on behalf of the board by:
Mr David Curry
Director
Company registration number: 14512379
North East Brickwork Limited
Notes to the financial statements
Period ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Exchange Building, 66 Church Street, Hartlepool, TS24 7DN.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Staff costs
The average number of persons employed by the company during the period amounted to 3
The aggregate payroll costs incurred during the period were:
Period
ended
30/11/23
£
Wages and salaries 25,503
_______
5. Tangible assets
Motor vehicles Total
£ £
Cost
At 29 November 2022 - -
Additions 7,930 7,930
_______ _______
At 30 November 2023 7,930 7,930
_______ _______
Depreciation
At 29 November 2022 - -
Charge for the year 1,322 1,322
_______ _______
At 30 November 2023 1,322 1,322
_______ _______
Carrying amount
At 30 November 2023 6,608 6,608
_______ _______
6. Debtors
30/11/23
£
Trade debtors 22,950
Other debtors 1,853
_______
24,803
_______
7. Creditors: amounts falling due within one year
30/11/23
£
Trade creditors 10,896
Corporation tax 18,733
Other creditors 11,774
_______
41,403
_______
8. Creditors: amounts falling due after more than one year
30/11/23
£
Other creditors 3,182
_______
9. Controlling party
For the whole period the company was under the control of the directors.