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Registered number: 12471059
Bricks Mortar & Interiors Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 12471059
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 625,000 630,334
625,000 630,334
CURRENT ASSETS
Stocks 5 - 1,109,848
Debtors 6 - 500
Cash at bank and in hand 1,216,414 15,682
1,216,414 1,126,030
Creditors: Amounts Falling Due Within One Year 7 (1,711,069 ) (1,732,508 )
NET CURRENT ASSETS (LIABILITIES) (494,655 ) (606,478 )
TOTAL ASSETS LESS CURRENT LIABILITIES 130,345 23,856
PROVISIONS FOR LIABILITIES
Deferred Taxation (21,703 ) (21,703 )
NET ASSETS 108,642 2,153
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 108,542 2,053
SHAREHOLDERS' FUNDS 108,642 2,153
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For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Saira Grant
Director
14 November 2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Bricks Mortar & Interiors Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12471059 . The registered office is 809 Salisbury House, 29 Finsbury Circus, London, EC2M 7AQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty. The following criteria must also be met before revenue is recognised:
Income from investment properties
Rental income from investment properties leased out under an operating lease is recognised in the income statement on a straight-line basis over the term of the lease. Lease incentives granted are recognised as an integral part of the total rental income over the life of the lease.
Service charge income is recognised as revenue in the period to which it relates.
Sale of trading properties
Turnover from the sale of trading properties is recognised in the income statement when the significant risks and rewards of ownership have been transferred to the buyer, which is usually at the completion.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Nil
2.4. Investment Properties
Investment properties, including freehold and long leasehold properties, are those which are held either to earn rental income or for capital appreciation or both. Investment properties include property that is being constructed or developed for future use as an investment property.
Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure.
Investment properties whose fair value can be measured reliably are measured at fair value, based on the market valuations.
Any surplus or deficit on revaluation is recognised in the income statement as a fair value gains and losses.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 6)
6 6
4. Tangible Assets
Land & Property
Freehold Investment Properties Total
£ £ £
Cost or Valuation
As at 1 March 2023 30,334 600,000 630,334
Additions 2,442 15,944 18,386
Revaluation (7,776) (15,944) (23,720 )
As at 29 February 2024 25,000 600,000 625,000
Net Book Value
As at 29 February 2024 25,000 600,000 625,000
As at 1 March 2023 30,334 600,000 630,334
The investment properties are valued, at balance sheet date, by directors of the company based on the assessment of available market information and property condition. The directors believe the their valuation would not be materially different from the professional valuation.
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5. Stocks
2024 2023
£ £
Stock - Properties under development - 1,109,848
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income - 500
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other taxes and social security 559 8,397
Accruals and deferred income 94,061 121,486
Directors' loan accounts 23,243 44,219
Amounts owed to subsidiaries 5,000 -
Amounts owed to related parties 1,588,206 1,558,406
1,711,069 1,732,508
8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
60 Ordinary shares of £ 1.000 each 60 60
20 Ordinary A shares of £ 1.000 each 20 20
20 Ordinary B shares of £ 1.000 each 20 20
100 100
9. Related Party Transactions
Included in creditors due within one year is an amount of £23,243 (2023: £44,219) owed to the directors. The amount is interest free and repayable on demand.
Included in creditors due within one year is an amount of £1,142,500 (2023: £1,112,700) owed to a related party. The amount is repayable on demand and interest of £46,400 (2023: £69,600) has been charged on the loan during the year.
Included in creditors due within one year is an amount of £445,706 (2023: £445,706) owed to a related party. The amount is interest free and repayable on demand. 
Included in creditors due within one year is an amount of £5,000 (2023: Nil) owed to the wholly owned subsidiary company. The amount is interest free and repayable on demand. 
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10. Controlling Party
The company's controlling party is Saira Grant; the director by virtue of the ownership of 60% of the issued share capital in the company.
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