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REGISTERED NUMBER: 00699040















THE KETLEY BRICK COMPANY LIMITED

Financial Statements for the Year Ended 31 March 2024






THE KETLEY BRICK COMPANY LIMITED (REGISTERED NUMBER: 00699040)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


THE KETLEY BRICK COMPANY LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTORS: R E Davenhill
C R Davenhill
K I Preston
A Patrick-Smith
M W Bifield
R I Dyer





SECRETARY: P Sykes





REGISTERED OFFICE: Dreadnought Road
Pensnett
Brierley Hill
DY5 4TH





REGISTERED NUMBER: 00699040





AUDITORS: Lancaster Haskins Limited Statutory Auditor
Granville House
2 Tettenhall Road
Wolverhampton
West Midlands
WV1 4SB

THE KETLEY BRICK COMPANY LIMITED (REGISTERED NUMBER: 00699040)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
CURRENT ASSETS
Stocks 751,497 582,300
Debtors 4 2,477,187 2,377,991
Cash at bank 955,253 872,660
4,183,937 3,832,951
CREDITORS
Amounts falling due within one year 5 2,306,015 2,053,031
NET CURRENT ASSETS 1,877,922 1,779,920
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,877,922

1,779,920

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 1,167 1,167
Retained earnings 1,876,655 1,778,653
SHAREHOLDERS' FUNDS 1,877,922 1,779,920

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by:





A Patrick-Smith - Director


THE KETLEY BRICK COMPANY LIMITED (REGISTERED NUMBER: 00699040)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. 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 historical cost convention.

The financial statements are presented in Sterling (£).

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax. Turnover is recognised when the goods are physically delivered to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor trucks - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference shares or non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

THE KETLEY BRICK COMPANY LIMITED (REGISTERED NUMBER: 00699040)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


1. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Significant accounting judgements and key sources of estimation uncertainty
Management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

There are no key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

3. TANGIBLE FIXED ASSETS
Plant and Motor
machinery trucks Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 308,872 28,453 337,325
DEPRECIATION
At 1 April 2023
and 31 March 2024 308,872 28,453 337,325
NET BOOK VALUE
At 31 March 2024 - - -
At 31 March 2023 - - -

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 872,284 775,617
Amounts owed by group undertakings 1,595,370 1,570,370
Other debtors - 1,651
Tax - 22,804
Prepayments 9,533 7,549
2,477,187 2,377,991

THE KETLEY BRICK COMPANY LIMITED (REGISTERED NUMBER: 00699040)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 88,923 123,446
Amounts owed to group undertakings 2,184,677 1,908,572
Corporation tax 9,863 -
Social security and other taxes 1,027 7,878
Accrued expenses 21,525 13,135
2,306,015 2,053,031

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Ashton ACA FCCA (Senior Statutory Auditor)
for and on behalf of Lancaster Haskins Limited Statutory Auditor

7. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

8. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

9. ULTIMATE CONTROLLING PARTY

The controlling party is Hinton Perry & Davenhill Limited.

The ultimate controlling party is HP&D Holdco Limited.

10. FINANCIAL RISK MANAGEMENT

The company has exposures to two main areas of risk; liquidity risk and customer credit exposure.

Liquidity risk
The objective of the company in managing liquidity risk is to ensure that it can meet its financial obligations as and when they fall due. The company expects to meet its financial obligations through operating cash flows. In the event that the operating cash flows would not cover all the financial obligations the company has credit facilities available.

Customer credit exposure
The company may offer credit terms to its customers which allow payment of the debt after delivery of the goods or services. The company is at risk to the extent that a customer may be unable to pay the debt on the specified due date. This risk is mitigated by strong on-going customer relationships.