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Registered number: 03128649










ANGLIAN BRICKWORK LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
ANGLIAN BRICKWORK LIMITED
REGISTERED NUMBER: 03128649

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,567
2,465

  
2,567
2,465

Current assets
  

Stocks
  
140,372
158,334

Debtors: amounts falling due within one year
 5 
589,294
612,259

Cash at bank and in hand
 6 
178,431
-

  
908,097
770,593

Creditors: amounts falling due within one year
 7 
(339,475)
(216,350)

Net current assets
  
 
 
568,622
 
 
554,243

Total assets less current liabilities
  
571,189
556,708

Creditors: amounts falling due after more than one year
 8 
(154,035)
(182,004)

  

Net assets
  
417,154
374,704


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
417,152
374,702

  
417,154
374,704


Page 1

 
ANGLIAN BRICKWORK LIMITED
REGISTERED NUMBER: 03128649

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 August 2024.




I S Wilson
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
ANGLIAN BRICKWORK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Anglian Brickwork Limited is a limited company incorporated in England and Wales.
The company's registered office is 601 London Road, Westcliff on Sea, Essex, SS0 9PE.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
ANGLIAN BRICKWORK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows:.

Depreciation is provided on the following basis:

Plant and machinery
-
15% reducing balance, 10% & 25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

Page 4

 
ANGLIAN BRICKWORK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

 
ANGLIAN BRICKWORK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 January 2023
87,374


Additions
991



At 31 December 2023

88,365



Depreciation


At 1 January 2023
84,909


Charge for the year on owned assets
889



At 31 December 2023

85,798



Net book value



At 31 December 2023
2,567



At 31 December 2022
2,465


5.


Debtors

2023
2022
£
£


Trade debtors
496,543
534,398

Other debtors
86,031
71,454

Prepayments and accrued income
6,720
6,407

589,294
612,259



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
178,431
-

Less: bank overdrafts
-
(12,358)

178,431
(12,358)


Page 6

 
ANGLIAN BRICKWORK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
-
12,358

Bank loans
23,918
21,771

Trade creditors
250,028
106,652

Corporation tax
46,923
59,800

Other taxation and social security
17,713
14,231

Other creditors
717
717

Accruals and deferred income
176
821

339,475
216,350


The following liabilities were secured:

2023
2022
£
£



Bank loans
23,918
21,771

23,918
21,771

Details of security provided:

The Natwest bank loan drawn down on 29/07/16 is secured by way of debenture in the form of a fixed and floating charge over the undertaking and all property and assets present and future, including goodwill, uncalled capital, buildings, fixtures, fixed plant and machinery which has been satisfied in year.

Page 7

 
ANGLIAN BRICKWORK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
154,035
182,004

154,035
182,004


The following liabilities were secured:

2023
2022
£
£



Bank loans
154,035
182,004

154,035
182,004

Details of security provided:

The Natwest bank loan drawn down on 30/11/2022 is secured by way of a guarantee for £174,250 granted by the directors and directors wife. This is further supported by a freehold 2nd legal charge over two of the directors wifes personal properties.

The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2023
2022
£
£


Repayable by instalments
105,940
117,721

105,940
117,721

The bank loan is repayable by monthly installments over 15 years. Interest on the loans is charged at 9.11% above Natwest base rate.
The CBIL has a 6 year duration, but is repayable over 5 years, with no repayments due in the first 12 months. Interest on the loan is charged at 2.81% above base rate, with the first 12 months of interest being paid by the government.

Page 8

 
ANGLIAN BRICKWORK LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
23,918
21,771


Amounts falling due 2-5 years

Bank loans
48,095
64,283

Amounts falling due after more than 5 years

Bank loans
105,940
117,721

177,953
203,775



10.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension costs charge represents contributions payable by the company to the fund and amounted to £632 (2022: £900). Contributions totalling £140 (2022: £140) were payable to the fund at the balance sheet date and are included in creditors.


11.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
15,500
15,500

Later than 1 year and not later than 5 years
46,500
46,500

Later than 5 years
20,021
35,521

82,021
97,521


Page 9