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Registration number: 12726645

Prestige Brickwork (Kent) Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2024

 

Prestige Brickwork (Kent) Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Prestige Brickwork (Kent) Ltd

Company Information

Director

Mr Samuel Oliver Webster

Registered office

13 Daimler Avenue
Studd Hill
Herne Bay
Kent
CT6 8AE

Accountants

C W W Ltd
B3 Clover House
Harvey Drive
John Wilson Business Park
Whitstable
Kent
CT5 3QZ

 

Prestige Brickwork (Kent) Ltd

(Registration number: 12726645)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

48,723

28,554

Current assets

 

Stocks

5

6,500

5,600

Debtors

6

20,538

19,710

Cash at bank and in hand

 

17,503

22,439

 

44,541

47,749

Creditors: Amounts falling due within one year

7

(45,420)

(38,075)

Net current (liabilities)/assets

 

(879)

9,674

Net assets

 

47,844

38,228

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

47,744

38,128

Shareholders' funds

 

47,844

38,228

For the financial year ending 31 July 2024 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 Samuel Oliver Webster
Director

 

Prestige Brickwork (Kent) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

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

The address of its registered office is:
13 Daimler Avenue
Studd Hill
Herne Bay
Kent
CT6 8AE

These financial statements were authorised for issue by the director on 24 September 2024.

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 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.

 

Prestige Brickwork (Kent) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

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 & machinery

25% RB

Fixtures & fittings

25% RB

Motor vehicles

25% RB

Computer equipment

25% RB

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

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.

 

Prestige Brickwork (Kent) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Prestige Brickwork (Kent) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 August 2023

5,034

17,452

1,330

30,607

Additions

-

7,528

-

41,096

Disposals

-

-

-

(12,216)

At 31 July 2024

5,034

24,980

1,330

59,487

Depreciation

At 1 August 2023

2,685

7,382

638

15,164

Charge for the year

587

4,399

173

11,080

At 31 July 2024

3,272

11,781

811

26,244

Carrying amount

At 31 July 2024

1,762

13,199

519

33,243

At 31 July 2023

2,349

10,070

692

15,443

Total
£

Cost or valuation

At 1 August 2023

54,423

Additions

48,624

Disposals

(12,216)

At 31 July 2024

90,831

Depreciation

At 1 August 2023

25,869

Charge for the year

16,239

At 31 July 2024

42,108

Carrying amount

At 31 July 2024

48,723

At 31 July 2023

28,554

5

Stocks

2024
£

2023
£

Other inventories

6,500

5,600

 

Prestige Brickwork (Kent) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

13,841

14,307

Prepayments

808

1,269

Other debtors

5,889

4,134

 

20,538

19,710

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

3,638

210

Taxation and social security

40,170

30,947

Accruals and deferred income

1,250

1,250

Other creditors

362

5,668

45,420

38,075

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

9

Dividends

2024

2023

£

£

Interim dividend of £77,500.00 (2023 - £50,000.00) per ordinary share

77,500

50,000