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Registration number: 08292111

Brick Brace Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 November 2023

 

Brick Brace Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 6

 

Brick Brace Limited

Company Information

Directors

Mr A Lundie

Mrs K Sorrell

Registered office

Suite 1B1 Argyle House
Northside
Joel Street
Northwood Hills
HA6 1NW

Accountants

Ross + Partners
Chartered Certified Accountants
Suite 1B1 Argyle House
Northside
Joel Street
Northwood Hills
HA6 1NW

 

Brick Brace Limited

(Registration number: 08292111)
Abridged Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

7,974

11,104

Current assets

 

Stocks

50

2,000

Debtors

40,384

27,126

Cash at bank and in hand

 

989

10,586

 

41,423

39,712

Creditors: Amounts falling due within one year

(38,040)

(33,726)

Net current assets

 

3,383

5,986

Total assets less current liabilities

 

11,357

17,090

Creditors: Amounts falling due after more than one year

(10,000)

(16,000)

Net assets

 

1,357

1,090

Capital and reserves

 

Called up share capital

2

2

Retained earnings

1,355

1,088

Shareholders' funds

 

1,357

1,090

For the financial year 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 29 August 2024 and signed on its behalf by:
 

 

Brick Brace Limited

(Registration number: 08292111)
Abridged Balance Sheet as at 30 November 2023

.........................................
Mr A Lundie
Director

.........................................
Mrs K Sorrell
Director

 
     
 

Brick Brace Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

1

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 abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

 

Brick Brace Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

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.

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

20% reducing balance basis

Plant and Machinery

25% reducing balance basis

Fixtures, fittings & equipment

25% straight line basis

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.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Brick Brace Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2023

3

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2022

3,844

174

15,000

19,018

At 30 November 2023

3,844

174

15,000

19,018

Depreciation

At 1 December 2022

2,706

145

5,063

7,914

Charge for the year

638

8

2,484

3,130

At 30 November 2023

3,344

153

7,547

11,044

Carrying amount

At 30 November 2023

500

21

7,453

7,974

At 30 November 2022

1,138

29

9,937

11,104

4

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

1 Ordinary of £1 each

1

-

1

-