Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-31098766752024-03-31trueNo description of principal activitytruetruetruetruetrue2023-04-01false1717true 09876675 2023-04-01 2024-03-31 09876675 2022-04-01 2023-03-31 09876675 2024-03-31 09876675 2023-03-31 09876675 1 2023-04-01 2024-03-31 09876675 d:Director2 2023-04-01 2024-03-31 09876675 c:Buildings 2023-04-01 2024-03-31 09876675 c:Buildings 2024-03-31 09876675 c:Buildings 2023-03-31 09876675 c:Buildings c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09876675 c:PlantMachinery 2023-04-01 2024-03-31 09876675 c:PlantMachinery 2024-03-31 09876675 c:PlantMachinery 2023-03-31 09876675 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09876675 c:OfficeEquipment 2023-04-01 2024-03-31 09876675 c:OfficeEquipment 2024-03-31 09876675 c:OfficeEquipment 2023-03-31 09876675 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09876675 c:ComputerEquipment 2023-04-01 2024-03-31 09876675 c:ComputerEquipment 2024-03-31 09876675 c:ComputerEquipment 2023-03-31 09876675 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09876675 c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09876675 c:CurrentFinancialInstruments 2024-03-31 09876675 c:CurrentFinancialInstruments 2023-03-31 09876675 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 09876675 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 09876675 c:ShareCapital 2024-03-31 09876675 c:ShareCapital 2023-03-31 09876675 c:CapitalRedemptionReserve 2023-04-01 2024-03-31 09876675 c:OtherMiscellaneousReserve 2024-03-31 09876675 c:OtherMiscellaneousReserve 2023-03-31 09876675 c:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 09876675 c:RetainedEarningsAccumulatedLosses 2024-03-31 09876675 c:RetainedEarningsAccumulatedLosses 2023-03-31 09876675 c:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-04-01 2024-03-31 09876675 c:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-03-31 09876675 c:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-03-31 09876675 d:OrdinaryShareClass1 2023-04-01 2024-03-31 09876675 d:OrdinaryShareClass1 2024-03-31 09876675 d:OrdinaryShareClass1 2023-03-31 09876675 d:FRS102 2023-04-01 2024-03-31 09876675 d:Audited 2023-04-01 2024-03-31 09876675 d:FullAccounts 2023-04-01 2024-03-31 09876675 d:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09876675 d:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09876675 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure



















Monolith Brick and Stone Limited

Registered number: 09876675
Information for filing with the Registrar
For the year ended 31 March 2024

 
 09876675
31 March 2024
MONOLITH BRICK AND STONE LIMITED
REGISTERED NUMBER: 09876675

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
91,074
114,109

  
91,074
114,109

Current assets
  

Stocks
 6 
95,641
171,774

Debtors: amounts falling due within one year
 7 
173,366
88,039

Cash at bank and in hand
  
7,001
12,337

  
276,008
272,150

Creditors: amounts falling due within one year
 8 
(2,858,396)
(2,024,432)

Net current liabilities
  
 
 
(2,582,388)
 
 
(1,752,282)

Total assets less current liabilities
  
(2,491,314)
(1,638,173)

Provisions for liabilities
  

Other provisions
 9 
(113,085)
(115,085)

Net liabilities
  
 
 
(2,604,399)
 
 
(1,753,258)


Capital and reserves
  

Called up share capital 
 10 
10
10

Capital contribution reserve
 11 
1,941,884
1,941,884

Profit and loss account
 11 
(4,546,293)
(3,695,152)

  
(2,604,399)
(1,753,258)


- 1 -

 
 09876675
31 March 2024
MONOLITH BRICK AND STONE LIMITED
REGISTERED NUMBER: 09876675
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

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 comprehensive income 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 29 October 2024.




K Pritchard
Director

The notes on pages 3 to 12 form part of these financial statements.
- 2 -

 
 09876675
31 March 2024
MONOLITH BRICK AND STONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Monolith Brick and Stone Limited (the "Company") is a private company, limited by shares which is registered and domiciled in England and Wales. The Company's registered number is 09876675. The registered office is set out on the Company Information page within this document.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

These financial statements have been presented in pound sterling which is the functional currency of the Company, and rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Greenthumb Limited as at 31 March 2024 and these financial statements may be obtained from Companies House.
- 3 -

 
 09876675
31 March 2024
MONOLITH BRICK AND STONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Going concern

The Company's forecasts and projections which take into account the risks and uncertainties, show that the Company should be able to operate within the level of its current working capital requirements, the ongoing support of its owner, Mr S P Waring, is expected to continue. The Company is expecting to significantly increase revenue over the coming years and move to a position of profit generation.
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for a period of at least 12 months from the date of approval of these financial statements, as supported by its owner, Mr S P Waring. For this reason, they continue to adopt, and consider appropriate, the going concern basis in preparing the financial statements.

 
2.4

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.
- 4 -

 
 09876675
31 March 2024
MONOLITH BRICK AND STONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.6

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.

 
2.7

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
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, using the straight-line method.

The estimated useful lives range as follows:

Leasehold improvements
-
5
years
Plant & machinery
-
5
years
Office equipment
-
5
years
Computer equipment
-
3
years

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.

- 5 -

 
 09876675
31 March 2024
MONOLITH BRICK AND STONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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 reporting 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.

 
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.
- 6 -

 
 09876675
31 March 2024
MONOLITH BRICK AND STONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

- 7 -

 
 09876675
31 March 2024
MONOLITH BRICK AND STONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.13
Financial instruments (continued)

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In preparing these financial statements, the directors have made the following judgments:

determine whether there are indicators of impairment of the Company's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset.
 
determine whether there are indicators of impairment of the Company's trade and other debtors. When assessing impairment of trade and other debtors, management considers factors such as the ageing profile and historical experience.

- 8 -

 
 09876675
31 March 2024
MONOLITH BRICK AND STONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Average number of employees
17
17


5.


Tangible fixed assets





Leasehold improvements
Plant & machinery
Office equipment
Computer equipment
Total

£
£
£
£
£



Cost 


At 1 April 2023
62,684
244,676
4,484
31,305
343,149


Additions
-
4,361
-
10,930
15,291


Disposals
-
(3,758)
(711)
(26,034)
(30,503)



At 31 March 2024

62,684
245,279
3,773
16,201
327,937



Depreciation


At 1 April 2023
24,537
168,714
4,484
31,305
229,040


Charge for the year
12,537
23,724
-
902
37,163


Disposals
-
(2,595)
(711)
(26,034)
(29,340)



At 31 March 2024

37,074
189,843
3,773
6,173
236,863



Net book value



At 31 March 2024
25,610
55,436
-
10,028
91,074



At 31 March 2023
38,147
75,962
-
-
114,109


6.


Stocks

2024
2023
£
£

Raw materials and consumables
95,641
171,774


- 9 -

 
 09876675
31 March 2024
MONOLITH BRICK AND STONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Debtors

2024
2023
£
£


Trade debtors
63,940
20,641

Other debtors
5,326
5,254

Prepayments and accrued income
104,100
62,144

173,366
88,039



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
46,897
51,253

Amounts owed to group undertakings
2,740,026
1,869,627

Other creditors
2,749
1,000

Accruals and deferred income
68,724
102,552

2,858,396
2,024,432


Amounts owed to group undertakings are unsecured, interest free and repayable on demand.


9.


Provisions





Provisions

£





At 1 April 2023
115,085


Charged to profit or loss
(2,000)



At 31 March 2024
113,085

- 10 -

 
 09876675
31 March 2024
MONOLITH BRICK AND STONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



10 (2023 - 10) Ordinary shares of £1.00 each
10
10



11.


Reserves

Capital contribution reserve

This comprises a capital contribution following the release of a liability owed to the parent company.

Profit & loss account

This comprises accumulated profits and losses.


12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £10,274 (2023 - £6,544). Contributions totalling £1,749 (2023 - £Nil) were payable to the fund at the reporting date and are included in creditors.


13.


Related party transactions

The Company has taken advantage of the disclosure exemption from the requirements of section 33 Related Party Disclosures paragraph 33.7 in preparing financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
As at the year end the Company owes £1,000 (2023 - £1,000) to the directors. 


14.


Post balance sheet events

On 9 April 2024 the Company was wholly acquired by Monolith Holdings Limited after Greenthumb Limited disposed of its shareholding. 

- 11 -

 
 09876675
31 March 2024
MONOLITH BRICK AND STONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

15.


Controlling party

The ultimate controlling party is S P Waring by virtue of his shareholding in the parent company, Greenthumb Limited.
The Company is a wholly owned subsidiary of Greenthumb Limited. Greenthumb Limited is the ultimate parent company and the smallest and largest group in which the results of the Company are consolidated. The consolidated accounts of Greenthumb Limited are available from Companies House.
Following the year end, the Company became a wholly owned subsidiary of Monolith Holdings Limited.

16.


Auditor's information

The auditor's report on the financial statements for the year ended 31 March 2024 was unqualified.

The audit report was signed on 29 October 2024 by Neil Barton (Senior Statutory Auditor) on behalf of Forvis Mazars LLP.

 
- 12 -