Denton Brickwork Contractors Limited |
Registered number: |
03627057 |
Balance Sheet |
as at 31 March 2024 |
|
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
15,193 |
|
|
15,355 |
Investment property |
4 |
|
|
1,054,702 |
|
|
1,005,702 |
|
|
|
|
1,069,895 |
|
|
1,021,057 |
|
Current assets |
Debtors |
5 |
|
171,089 |
|
|
148,775 |
Cash at bank and in hand |
|
|
360,647 |
|
|
374,423 |
|
|
|
531,736 |
|
|
523,198 |
|
Creditors: amounts falling due within one year |
6 |
|
(71,100) |
|
|
(68,136) |
|
Net current assets |
|
|
|
460,636 |
|
|
455,062 |
|
Total assets less current liabilities |
|
|
|
1,530,531 |
|
|
1,476,119 |
|
|
Provisions for liabilities |
|
|
|
(15,609) |
|
|
(23,742) |
|
|
Net assets |
|
|
|
1,514,922 |
|
|
1,452,377 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Profit and loss account |
|
|
|
1,514,822 |
|
|
1,452,277 |
|
Shareholders' funds |
|
|
|
1,514,922 |
|
|
1,452,377 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
S Denton |
Director |
Approved by the board on 21 October 2024 |
|
Denton Brickwork Contractors Limited |
Notes to the Accounts |
for the period from 1 October 2023 to 31 March 2024 |
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|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Accounting period |
|
The accounting period has been changed from 30 September to 31 March. The current accounting period is less than 12 months in order to align the period end with the 31 March. |
|
|
Going concern |
|
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the financial statements. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
reducing balance 25% |
|
Motor vehicles |
reducing balance 25% |
|
|
Investment property |
|
Investment properties are initially recognised at cost, including transaction costs. Subsequently, investment properties are measured at fair value, with any changes in fair value recognised in profit or loss. Fair value is determined based on market value or other appropriate valuation techniques. Any increase or decrease in the fair value of investment properties is recognised in profit or loss in the period in which they arise. Investment properties are revalued periodically to ensure that their carrying amounts reflect their fair values at the reporting date. The frequency of revaluation depends on the nature of the properties and market conditions. Generally, properties are revalued annually, but more frequent revaluations may be performed if there are significant fluctuations in market values. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
3 |
|
3 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
£ |
£ |
£ |
|
Cost |
|
At 1 October 2023 |
37,383 |
|
94,605 |
|
131,988 |
|
Additions |
1,917 |
|
- |
|
1,917 |
|
At 31 March 2024 |
39,300 |
|
94,605 |
|
133,905 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 October 2023 |
32,228 |
|
84,405 |
|
116,633 |
|
Charge for the period |
804 |
|
1,275 |
|
2,079 |
|
At 31 March 2024 |
33,032 |
|
85,680 |
|
118,712 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2024 |
6,268 |
|
8,925 |
|
15,193 |
|
At 30 September 2023 |
5,155 |
|
10,200 |
|
15,355 |
|
|
4 |
Investment property |
2024 |
£ |
|
Fair value |
|
At 1 October 2023 |
1,005,702 |
|
Additions |
- |
|
Gain on revaluation to fair value |
49,000 |
|
Transfer from revaluation reserve |
- |
|
Disposals |
- |
|
At 31 March 2024 |
1,054,702 |
|
|
|
|
|
|
|
|
|
|
The fair value of investment properties has been arrived at on the basis of a valuation carried out at the period end by the directors. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties. The gain on revaluation of £49,000 (2023: £79,611) which arises in the year is recognised in other operating income. A deferred tax liability has been recognised on the revaluation amount to fair value and is included in the provision for deferred taxation. |
|
5 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Trade debtors |
153,957 |
|
127,392 |
|
Other debtors |
17,132 |
|
21,383 |
|
|
|
|
|
|
171,089 |
|
148,775 |
|
|
|
|
|
|
|
|
|
|
Amounts due after more than one year included above |
15,866 |
|
9,331 |
|
|
|
|
|
|
|
|
|
|
Included in other debtors above are prepayments of £1,911 (2023: £3,878). |
|
|
6 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Trade creditors |
- |
|
198 |
|
Taxation and social security costs |
31,303 |
|
23,657 |
|
Other creditors |
39,797 |
|
44,281 |
|
|
|
|
|
|
71,100 |
|
68,136 |
|
|
|
|
|
|
|
|
|
|
Included in other creditors above are accruals of £38,827 (2023: £3,363). |
|
|
7 |
Share capital |
2024 |
|
2023 |
£ |
£ |
|
Allotted, called up share capital which has been paid up |
|
|
51 ordinary 'A' class shares of £1 each |
51 |
|
51 |
|
19 ordinary 'B' class shares of £1 each |
19 |
|
19 |
|
5 ordinary 'C' class shares of £1 each |
5 |
|
5 |
|
25 ordinary 'D' class shares of £1 each |
25 |
|
25 |
|
|
|
|
|
|
|
100 |
|
100 |
|
|
|
|
|
|
|
|
|
|
8 |
Revaluation reserve |
2024 |
|
2023 |
£ |
£ |
|
|
At 1 October 2023 |
- |
|
5,000 |
|
Transfer from revaluation reserve |
- |
|
(5,000) |
|
|
At 31 March 2024 |
- |
|
- |
|
|
|
|
|
|
|
|
|
|
9 |
Other information |
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|
Denton Brickwork Contractors Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
30 Appleford Road |
|
Sutton Courtenay |
|
Abingdon |
|
Oxfordshire |
|
OX14 4NQ |