Company registration number: 10007053
Unaudited financial statements
for the year ended 31 March 2024
for
Green Brick Projects Ltd
Pages for filing with the Registrar
Company registration number: 10007053
Green Brick Projects Ltd
Balance sheet
as at 31 March 2024
31 Mar 24 31 Mar 23
Note £ £ £ £
Fixed assets
Tangible assets 4 169,768 175,284
169,768 175,284
Current assets
Stocks 7,280 14,170
Debtors 54,902 68,642
Cash at bank and in hand 49,589 40,736
111,771 123,548
Creditors: amounts falling due within
one year
(177,529) (202,319)
Net current liabilities (65,758) (78,771)
Total assets less current liabilities 104,010 96,513
Creditors: Amounts falling due after
more than one year
(56,083) (53,816)
NET ASSETS 47,927 42,697
Capital and reserves
Called up share capital 104 104
Profit and loss account 47,823 42,593
TOTAL EQUITY 47,927 42,697
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 March 2024.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 10007053
Green Brick Projects Ltd
Balance sheet - continued
as at 31 March 2024
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 4 November 2024 and signed on its behalf by:
Mr A Morris, Director
4 November 2024
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Green Brick Projects Ltd
Notes to the financial statements
for the year ended 31 March 2024
1 Company information
Green Brick Projects Ltd is a private company registered in England and Wales. Its registered number is 10007053. The company is limited by shares. Its registered office is Unit 1 Place Farm Old Bury Road, Stuston, Diss, IP21 4AD.
2 Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” including the provisions of Section 1A “Small Entities” and the Companies Act 2006. The financial statements have been prepared under the historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate 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, excluding discounts, rebates, Value Added Tax and other sales taxes.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Improvements to property - 5% straight line
Plant and machinery - 20% reducing balance
Fixtures & fittings - 20% reducing balance
Motor vehicles - 20% reducing balance
Computer equipment - 20% straight line
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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Green Brick Projects Ltd
Notes to the financial statements - continued
for the year ended 31 March 2024
2 Accounting policies - continued
Taxation
Taxation for the year comprises current taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to profit or lossover the relevant period. The capital element of the future payments is treated as a liability.
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
3 Average number of employees
During the year the average number of employees was 13 (2023 - 13).
4 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 1 April 2023 421,717
Additions 75,691
Disposals (103,158)
At 31 March 2024 394,250
Depreciation
At 1 April 2023 246,433
Charge for year 43,519
Eliminated on disposal (65,470)
At 31 March 2024 224,482
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Green Brick Projects Ltd
Notes to the financial statements - continued
for the year ended 31 March 2024
4 Tangible fixed assets - continued
Net book value
At 31 March 2024 169,768
At 31 March 2023 175,284
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