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REGISTERED NUMBER: 02860530 (England and Wales)









Unaudited Financial Statements

for the Year Ended

29 February 2024

for

Marlborough Brickwork Limited

Marlborough Brickwork Limited (Registered number: 02860530)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Marlborough Brickwork Limited (Registered number: 02860530)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 83,621 35,361

CURRENT ASSETS
Debtors 5 2,008,271 1,705,668
Cash at bank 855,711 1,299,846
2,863,982 3,005,514
CREDITORS
Amounts falling due within one year 6 691,297 829,687
NET CURRENT ASSETS 2,172,685 2,175,827
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,256,306

2,211,188

PROVISIONS FOR LIABILITIES 12,911 5,892
NET ASSETS 2,243,395 2,205,296

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 2,243,295 2,205,196
SHAREHOLDERS' FUNDS 2,243,395 2,205,296

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by:



P P Donnelly - Director


Marlborough Brickwork Limited (Registered number: 02860530)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Marlborough Brickwork Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02860530

Registered office: Unit 1a
Wakefield 41 Business Park
South Park Way
Wakefield
West Yorkshire
WF2 0 XJ

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in UK and Republic of Ireland" and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to give a true and fair view.

The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the Company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The critical judgements that the directors have made in applying the company's accounting policies and the key sources of estimation uncertainty that have had the most significant effect on the amounts recognised in the financial statements are described below:

Construction contracts
Construction contracts are assessed on a contract by contract basis and reflected in the profit and loss account by recognising turnover and related costs as the contract activity progresses. Where contract activity can be reasonably assessed during the contract term an apportionment of the contract profit is also recognised.

The directors make an assessment at the period end as to the stage of completion of each contract and recognise the appropriate level of turnover and costs in the profit and loss account based on contract forecasts. Where similar projects have been undertaken, these provide an appropriate benchmark for comparison and reference. Where no similar project exists, management assessments are made prudently, and linked to key milestones in each contract. There are also further reviews in light of subsequent events.

Amounts recoverable on contracts are recognised in debtors, as the amount recognised in turnover but not yet invoiced, to the extent that these amounts are considered recoverable. Any forecast contract losses are recognised in full at in the profit and loss account at the point the directors consider this outcome to be likely.

Marlborough Brickwork Limited (Registered number: 02860530)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and value added tax.

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the balance sheet date. This is normally measured by the proportion that contract costs incurred for work performed to date bear to the estimated total contract costs, except where this would not be representative of the stage of completion. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt considered probable.

Where the outcome of a contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred.

When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.

Tangible fixed assets
Tangible fixed assets are stated at purchase cost together with any incidental expenses of acquisition, net of depreciation and any provision for impairment.

Depreciation is provided on all tangible assets at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:

Plant and machinery- 25% straight line
Fixtures and fittings- 20% straight line
Motor vehicles- 25-30% straight line and reducing balance
Computer equipment- 40% straight line
Leasehold improvements- 20% straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset after deducting estimated costs of disposal, if the asset were already at an age and in the condition expected at the end of its estimated useful life.

The need for any fixed asset impairment write down is assessed by comparison of the carrying value of the assets against the higher of realisable value and value in use

The gain or loss arising on the disposal of an asset is determined on the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.


Marlborough Brickwork Limited (Registered number: 02860530)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
Taxation
Current tax, including UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date and are expected to apply to the reversal of the timing difference.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an Annual General Meeting.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

The following assets and liabilities are classified as basic financial instruments - trade debtors, other debtors, cash and bank balances, trade creditors, other creditors and inter-company balances.

Trade debtors, other debtors, cash and bank balances, trade creditors, other creditors and inter-company balances are measured at the amortised cost equivalent to the undiscounted amount of cash or other consideration expected to be paid or received.

Marlborough Brickwork Limited (Registered number: 02860530)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Impairment of assets
Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss as described below.

Non financial assets
An asset is impaired when there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Financial assets
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had impairment not been recognised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2023 - 53 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2023 - 214,633 214,633
Additions 11,982 55,755 67,737
At 29 February 2024 11,982 270,388 282,370
DEPRECIATION
At 1 March 2023 - 179,272 179,272
Charge for year 1,398 18,079 19,477
At 29 February 2024 1,398 197,351 198,749
NET BOOK VALUE
At 29 February 2024 10,584 73,037 83,621
At 28 February 2023 - 35,361 35,361

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 119,699 213,350
Amounts owed by group undertakings 903,443 903,443
Amounts recoverable on contract 816,783 431,131
Other debtors 168,346 157,744
2,008,271 1,705,668

Marlborough Brickwork Limited (Registered number: 02860530)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 400,542 375,884
Taxation and social security 112,019 200,120
Other creditors 178,736 253,683
691,297 829,687

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 32,075 32,075
Between one and five years 14,500 46,663
46,575 78,738

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal value: 2024 2023
£    £   
20 Ordinary A shares £1 20 20
10 Ordinary B shares £1 10 10
50 Ordinary C shares £1 50 50
20 Ordinary D shares £1 20 20
100 100

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.