2 01/04/2023 31/03/2024 2024-03-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-04-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 03422963 2023-04-01 2024-03-31 03422963 2024-03-31 03422963 2023-03-31 03422963 2022-04-01 2023-03-31 03422963 2023-03-31 03422963 2022-03-31 03422963 core:PlantMachinery 2023-04-01 2024-03-31 03422963 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 03422963 core:MotorVehicles 2023-04-01 2024-03-31 03422963 bus:RegisteredOffice 2023-04-01 2024-03-31 03422963 bus:LeadAgentIfApplicable 2023-04-01 2024-03-31 03422963 bus:Director1 2023-04-01 2024-03-31 03422963 bus:CompanySecretary1 2023-04-01 2024-03-31 03422963 core:PlantMachinery 2023-03-31 03422963 core:FurnitureFittingsToolsEquipment 2023-03-31 03422963 core:MotorVehicles 2023-03-31 03422963 core:PlantMachinery 2024-03-31 03422963 core:FurnitureFittingsToolsEquipment 2024-03-31 03422963 core:MotorVehicles 2024-03-31 03422963 core:WithinOneYear 2024-03-31 03422963 core:WithinOneYear 2023-03-31 03422963 core:AfterOneYear 2024-03-31 03422963 core:AfterOneYear 2023-03-31 03422963 core:ShareCapital 2024-03-31 03422963 core:ShareCapital 2023-03-31 03422963 core:RetainedEarningsAccumulatedLosses 2024-03-31 03422963 core:RetainedEarningsAccumulatedLosses 2023-03-31 03422963 core:PlantMachinery 2023-03-31 03422963 core:FurnitureFittingsToolsEquipment 2023-03-31 03422963 core:MotorVehicles 2023-03-31 03422963 bus:SmallEntities 2023-04-01 2024-03-31 03422963 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 03422963 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 03422963 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03422963 bus:FullAccounts 2023-04-01 2024-03-31 03422963 1 2023-04-01 2024-03-31 03422963 2 2023-04-01 2024-03-31
Company registration number: 03422963
J L Lowe Brickwork Limited
Unaudited filleted financial statements
31 March 2024
J L Lowe Brickwork Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
J L Lowe Brickwork Limited
Directors and other information
Director G.L. Lowe
Secretary Mrs D.C. Lowe
Company number 03422963
Registered office Newlands
High Road
Fobbing
SS17 9HG
Business address Newlands
High Road
Fobbing
SS17 9HG
Accountants Hill Allen (Wickford) Ltd
Office 1 Riverside Court
24 Lower Southend Road
Wickford
SS11 8AW
Bankers Barckays Bank PLC
Leicester
LE87 2BB
J L Lowe Brickwork Limited
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 26,151 4,422
_______ _______
26,151 4,422
Current assets
Debtors 6 766 6,883
Cash at bank and in hand 62,037 67,988
_______ _______
62,803 74,871
Creditors: amounts falling due
within one year 7 ( 28,264) ( 39,674)
_______ _______
Net current assets 34,539 35,197
_______ _______
Total assets less current liabilities 60,690 39,619
Creditors: amounts falling due
after more than one year 8 ( 4,917) ( 11,667)
Provisions for liabilities ( 4,969) ( 728)
_______ _______
Net assets 50,804 27,224
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 50,802 27,222
_______ _______
Shareholders funds 50,804 27,224
_______ _______
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 31 October 2024 , and are signed on behalf of the board by:
G.L. Lowe
Director
Company registration number: 03422963
J L Lowe Brickwork Limited
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Newlands, High Road, Fobbing, SS17 9HG.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland.The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25 % reducing balance
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 11,280 3,742 21,990 37,012
Additions - 949 33,840 34,789
Disposals - ( 1,000) ( 21,990) ( 22,990)
_______ _______ _______ _______
At 31 March 2024 11,280 3,691 33,840 48,811
_______ _______ _______ _______
Depreciation
At 1 April 2023 11,058 3,374 18,158 32,590
Charge for the year 56 284 8,710 9,050
Disposals - ( 822) ( 18,158) ( 18,980)
_______ _______ _______ _______
At 31 March 2024 11,114 2,836 8,710 22,660
_______ _______ _______ _______
Carrying amount
At 31 March 2024 166 855 25,130 26,151
_______ _______ _______ _______
At 31 March 2023 222 368 3,832 4,422
_______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 468 -
Other debtors 298 6,883
_______ _______
766 6,883
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 5,000 5,000
Trade creditors 5,465 3,400
Corporation tax 3,953 9,555
Social security and other taxes 1,773 7,821
Other creditors 12,073 13,898
_______ _______
28,264 39,674
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 4,917 11,667
_______ _______
9. Controlling party
The company is controlled by G Lowe and D Lowe by reason of their shareholding.