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Registration number: NI656499

HQ Bricklaying Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

HQ Bricklaying Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

HQ Bricklaying Ltd

Company Information

Directors

Mark Hudson

Mr Christopher Quinn

Registered office

7A Lower Catherine Street
Newry
Down
BT35 6BE

Accountants

SP McKeown & Co Ltd
Chartered Certified Accountants, Registered Auditors and Tax Advisors
5 Lower Catherine Street
Newry
Co Down
BT35 6BE

 

HQ Bricklaying Ltd

(Registration number: NI656499)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

23,116

22,858

Current assets

 

Debtors

5

73,129

53,963

Cash at bank and in hand

 

7,242

512

 

80,371

54,475

Creditors: Amounts falling due within one year

6

(19,215)

(13,408)

Net current assets

 

61,156

41,067

Total assets less current liabilities

 

84,272

63,925

Provisions for liabilities

(4,055)

(4,343)

Net assets

 

80,217

59,582

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

80,117

59,482

Shareholders' funds

 

80,217

59,582

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

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 October 2024 and signed on its behalf by:
 

.........................................
Mark Hudson
Director

   
     
 

HQ Bricklaying Ltd

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

1

General information

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

The address of its registered office is:
7A Lower Catherine Street
Newry
Down
BT35 6BE
Northern Ireland

These financial statements were authorised for issue by the Board on 3 October 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

HQ Bricklaying Ltd

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

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.

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

Motor vehicles

20% Reducing balance basis

Plant & Machinery

20% Reducing balance basis

Fixtures & fittings

20% Reducing balance basis

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.

 

HQ Bricklaying Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 2).

 

HQ Bricklaying Ltd

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2022

8,719

19,850

5,990

34,559

Additions

-

6,650

-

6,650

Disposals

-

(1,500)

-

(1,500)

At 31 October 2023

8,719

25,000

5,990

39,709

Depreciation

At 1 November 2022

3,139

6,604

1,958

11,701

Charge for the year

1,116

3,856

806

5,778

Eliminated on disposal

-

(886)

-

(886)

At 31 October 2023

4,255

9,574

2,764

16,593

Carrying amount

At 31 October 2023

4,464

15,426

3,226

23,116

At 31 October 2022

5,580

13,246

4,032

22,858

5

Debtors

Current

2023
£

2022
£

Trade debtors

35,193

38,352

Other debtors

37,936

15,611

 

73,129

53,963

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

77

2,779

Taxation and social security

14,143

8,803

Accruals and deferred income

4,995

1,426

Other creditors

-

400

19,215

13,408

 

HQ Bricklaying Ltd

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

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

8

Dividends

Interim dividends paid

2023
£

2022
£

Interim dividend of £Nil (2022 - £140.00) per each Ordinary

-

14,000

 

 

9

Related party transactions

 

HQ Bricklaying Ltd

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

Transactions with directors

2023

At 1 November 2022
£

Advances to director
£

Repayments by director
£

At 31 October 2023
£

Mark Hudson

Directors loan repayable on demand

1,459

32,297

(24,161)

9,594

Mr Christopher Quinn

Directors loan repayable on demand

(400)

39,109

(10,467)

28,242

2022

At 1 November 2021
£

Advances to director
£

Repayments by director
£

At 31 October 2022
£

Mark Hudson

Directors loan repayable on demand

(6,918)

42,446

(34,069)

1,459

Mr Christopher Quinn

Directors loan repayable on demand

(13,347)

56,536

(43,589)

(400)

 

HQ Bricklaying Ltd

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

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

11,070

17,648

Dividends paid to directors

2023
£

2022
£

Mark Hudson

Dividends

-

7,000

 

 

Mr Christopher Quinn

Dividends

-

7,000