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Registration number: 5228686

P Conlon Brickwork Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 December 2023

 

P Conlon Brickwork Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

P Conlon Brickwork Limited

(Registration number: 5228686)
Balance Sheet as at 31 December 2023

Note

2023
£

(As restated)

2022
£

Fixed assets

 

Tangible assets

4

50,789

19,401

Current assets

 

Stocks

35,610

64,847

Debtors

5

335,338

256,286

 

370,948

321,133

Creditors: Amounts falling due within one year

6

(142,382)

(164,024)

Net current assets

 

228,566

157,109

Total assets less current liabilities

 

279,355

176,510

Creditors: Amounts falling due after more than one year

6

(16,767)

(26,816)

Provisions for liabilities

(12,697)

(3,686)

Net assets

 

249,891

146,008

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

249,791

145,908

Shareholders' funds

 

249,891

146,008

 

P Conlon Brickwork Limited

(Registration number: 5228686)
Balance Sheet as at 31 December 2023

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 September 2024
 


Mr P P Conlon
Director

   
 

P Conlon Brickwork Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
17 Dewsbury Avenue
Scunthorpe
North Lincolnshire
DN15 8AW
England

Registration number: 5228686

2

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 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 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

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.

 

P Conlon Brickwork Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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

Plant and Equipment

25% reducing balance

Office Equipment

25% reducing balance

Motor Vehicles

25% reducing balance

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

P Conlon Brickwork Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 2 (2022 - 3).

 

P Conlon Brickwork Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

21,068

26,976

48,044

Additions

1,635

37,990

39,625

At 31 December 2023

22,703

64,966

87,669

Depreciation

At 1 January 2023

13,541

15,102

28,643

Charge for the year

2,102

6,135

8,237

At 31 December 2023

15,643

21,237

36,880

Carrying amount

At 31 December 2023

7,060

43,729

50,789

At 31 December 2022

7,527

11,874

19,401

5

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

171,984

144,858

Amounts owed by related parties

9

8,672

-

Prepayments

 

1,234

1,707

Other debtors

 

139,479

80,113

Social security and other taxes

 

13,969

29,608

   

335,338

256,286

6

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

29,346

18,301

Trade payables

 

62,842

22,120

Amounts due to related parties

9

-

74,735

Social security and other taxes

 

47,760

46,283

Other payables

 

2,434

2,585

 

142,382

164,024

 

P Conlon Brickwork Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

16,767

26,816

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

9,869

9,649

Bank overdrafts

19,477

8,652

29,346

18,301

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

16,767

26,816

9

Related party transactions

Transactions with the director

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

Mr P P Conlon

Directors Loan Account - no interest is charged on this balance

37,368

(66,196)

37,500

8,672

         
       

 

 

P Conlon Brickwork Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

2022

At 1 January 2022
£

Advances to director
£

Repayments by director
£

At 31 December 2022
£

Mr P P Conlon

Directors Loan Account - no interest is charged on this balance

28,193

(78,325)

87,500

37,368

         
       

 

10

Transition to FRS 102

The company transitioned to FRS102 Section 1A on 1 January 2022. Deferred tax was not previously
recognised under FRS105 and as such has now been included and the comparative figure restated.
The affect on the reserves is £3,686.