Bovingdon Brickworks Ltd 00642656 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is Brick Manufacturer Digita Accounts Production Advanced 6.30.9574.0 true true true true true true true true 00642656 2023-07-01 2024-06-30 00642656 2024-06-30 00642656 bus:OrdinaryShareClass1 2024-06-30 00642656 core:CurrentFinancialInstruments 2024-06-30 00642656 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 00642656 core:LandBuildings 2024-06-30 00642656 bus:FRS102 2023-07-01 2024-06-30 00642656 bus:Audited 2023-07-01 2024-06-30 00642656 bus:FullAccounts 2023-07-01 2024-06-30 00642656 bus:RegisteredOffice 2023-07-01 2024-06-30 00642656 bus:CompanySecretary1 2023-07-01 2024-06-30 00642656 bus:CompanySecretary2 2023-07-01 2024-06-30 00642656 bus:Director10 2023-07-01 2024-06-30 00642656 bus:Director5 2023-07-01 2024-06-30 00642656 bus:Director7 2023-07-01 2024-06-30 00642656 bus:Director9 2023-07-01 2024-06-30 00642656 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 00642656 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 00642656 core:FinancialGuarantees 2023-07-01 2024-06-30 00642656 core:LandBuildings 2023-07-01 2024-06-30 00642656 core:PlantMachinery 2023-07-01 2024-06-30 00642656 core:UKTax 2023-07-01 2024-06-30 00642656 1 2023-07-01 2024-06-30 00642656 countries:AllCountries 2023-07-01 2024-06-30 00642656 2023-06-30 00642656 core:LandBuildings 2023-06-30 00642656 2022-07-01 2023-06-30 00642656 2023-06-30 00642656 bus:OrdinaryShareClass1 2023-06-30 00642656 core:CurrentFinancialInstruments 2023-06-30 00642656 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 00642656 core:LandBuildings 2023-06-30 00642656 core:UKTax 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 00642656

Bovingdon Brickworks Ltd

Annual Report and Financial Statements

for the Year Ended 30 June 2024

 

Bovingdon Brickworks Ltd

Contents

Company Information

1

Directors' Report

2

Statement of Directors' Responsibilities

3

Independent Auditor's Report

4 to 6

Profit and Loss Account and Statement of Retained Earnings

7

Balance Sheet

8

Notes to the Financial Statements

9 to 14

 

Bovingdon Brickworks Ltd

Company Information

Directors

Mr AJ Parker

Mr DP Ensell

Mr M J Mallinder

Mr M J H Hodgskin-Brown

Company secretary

Mr I Grainger

Mrs HR Parker

Registered office

Westhaven House
Arleston Way
Shirley
Solihull
West Midlands
B90 4LH

Auditors

Buckler Spencer Limited
Old Police Station
Church Street
Swadlincote
Derbyshire
DE11 8LN

 

Bovingdon Brickworks Ltd

Directors' Report for the Year Ended 30 June 2024

The directors present their report and the financial statements for the year ended 30 June 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr AJ Parker

Mr DP Ensell

Mr M J Mallinder

Mr M J H Hodgskin-Brown

Going concern

Based on the current level of operations within the company, and the support of the parent company, it is felt that there is no material uncertainty that may cast doubt on the entity's ability to continue as a going cocnern.

Disclosure of information to the auditors

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware. The principal activity of the company is the cutting and distribution of bricks.

Small companies provision statement

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Approved and authorised by the Board on 28 November 2024 and signed on its behalf by:
 

.........................................
Mr AJ Parker
Director

 

Bovingdon Brickworks Ltd

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Bovingdon Brickworks Ltd

Independent Auditor's Report to the Members of Bovingdon Brickworks Ltd

Opinion

We have audited the financial statements of Bovingdon Brickworks Ltd (the 'company') for the year ended 30 June 2024, which comprise the Profit and Loss Account and Statement of Retained Earnings, Balance Sheet, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its profit for the year then ended;

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In accordance with the current standards governing audits we have taken advantage of the Ethical Standards provisions issued by the Financial Reporting Council (FRC), relating to “Ethical Standard - Provisions Available for Small Entities”, with reference to manamgent & familiarity threats.

We confirm that there is nothing to report with regard to directors' benefits, remuneration, pensions or compensation for loss of office.

 

Bovingdon Brickworks Ltd

Independent Auditor's Report to the Members of Bovingdon Brickworks Ltd

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Directors' Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of directors' remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities [set out on page 3], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

 

Bovingdon Brickworks Ltd

Independent Auditor's Report to the Members of Bovingdon Brickworks Ltd

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates and, considered the risk of acts by management and the directors of the company which were contrary to applicable laws and regulations, including fraud. These included but were not limited to compliance with the Companies Act 2006 and the Financial Reporting Standard 102. We made enquiries of the directors of the company to obtain further understanding of risks of non-compliance.

We focused on laws and regulations that could give rise to a material misstatement in the financial statements. Our tests included, but were not limited to:

• agreement of the financial statement disclosures to underlying supporting documentation;
• enquiries of management regarding known or suspected instances of non-compliance with laws and regulations;
• review of minutes of the director and management board meetings throughout the year; and
• obtaining an understanding of the control environment in place to prevent and detect irregularities.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are
inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

......................................
David Bezant FCCA (Senior Statutory Auditor)
For and on behalf of Buckler Spencer Limited, Statutory Auditor

Old Police Station
Church Street
Swadlincote
Derbyshire
DE11 8LN

28 November 2024

 

Bovingdon Brickworks Ltd

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 30 June 2024

Note

2024
£

2023
£

Turnover

3

-

-

Cost of sales

 

(28,396)

(14,468)

Gross loss

 

(28,396)

(14,468)

Administrative expenses

 

109,054

(31,240)

Other operating income

4

100

-

Operating profit/(loss)

5

80,758

(45,708)

Profit/(loss) before tax

 

80,758

(45,708)

Taxation

8

(20,190)

8,271

Profit/(loss) for the financial year

 

60,568

(37,437)

Retained earnings brought forward

 

(1,898,422)

(1,860,985)

Retained earnings carried forward

 

(1,837,854)

(1,898,422)

 

Bovingdon Brickworks Ltd

(Registration number: 00642656)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

9

-

531,270

Investment property

10

722,526

-

 

722,526

531,270

Current assets

 

Debtors

11

3,488

81,907

Cash at bank and in hand

 

108,120

44,047

 

111,608

125,954

Creditors: Amounts falling due within one year

13

(2,667,986)

(2,551,644)

Net current liabilities

 

(2,556,378)

(2,425,690)

Net liabilities

 

(1,833,852)

(1,894,420)

Capital and reserves

 

Called up share capital

4,002

4,002

Retained earnings

(1,837,854)

(1,898,422)

Shareholders' deficit

 

(1,833,852)

(1,894,420)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 28 November 2024 and signed on its behalf by:
 

.........................................

Mr AJ Parker
Director

 

Bovingdon Brickworks Ltd

Notes to the Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in the United Kingdom.

The address of its registered office is:
Westhaven House
Arleston Way
Shirley
Solihull
West Midlands
B90 4LH

These financial statements were authorised for issue by the Board on 28 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation of the financial statements is in pound sterling and is rounded to the nearest £1.

Summary of disclosure exemptions

The company has elected to take up certain exemptions in accordance with S1A of FRS 102 which include:

1. Preparation of a cash flow statement
2. Preparation of a strategic report
3. Disclosure of key management remuneration.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the rental of land and property at the site in Bovingdon. Turnover is shown net of sales/value added tax.

The company recognises revenue when:
The amount of revenue can be reliably measured based on the rental payment due according to the signed contract with the tennant;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Bovingdon Brickworks Ltd

Notes to the Financial Statements for the Year Ended 30 June 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. The company does not capitalise any interest charges incurred during the asset acquisition and installation processes.

Tangible assets are reviewed monthly for potential signs of impairment during the stock take and are also reviewed annually by management. Any impairment is assessed and adjusted as required are made.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and Buildings

2% on cost

Plant & Machinery

10% to 25% on cost

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Bovingdon Brickworks Ltd

Notes to the Financial Statements for the Year Ended 30 June 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Turnover

The analysis of the company's turnover for the year from continuing operations is as follows:

2024
£

2023
£

4

Other operating income

The analysis of the company's other operating income for the year is as follows:

2024
£

2023
£

Rental income from investment property

100

-

5

Operating profit/(loss)

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

-

6,516

6

Staff costs

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

 

Bovingdon Brickworks Ltd

Notes to the Financial Statements for the Year Ended 30 June 2024

2024
No.

2023
No.

Other departments

1

1

1

1

7

Auditors' remuneration

2024
 £

2023
 £

Audit of the financial statements

1,000

1,000

Other fees to auditors

All other services relating to corporate finance transactions on behalf of the company or any associates

1,500

1,500


 

8

Taxation

Tax charged/(credited) in the profit and loss account

2024
£

2023
£

Current taxation

UK corporation tax

20,190

(8,271)

The tax on profit before tax for the year is the same as the standard rate of corporation tax in the UK (2023 - the same as the standard rate of corporation tax in the UK) of 19% (2023 - 19%).

The differences are reconciled below:

2024
£

2023
£

Profit/(loss) before tax

80,758

(45,708)

Corporation tax at standard rate

-

-

Tax increase/(decrease) arising from group relief

20,190

(8,271)

Total tax charge/(credit)

20,190

(8,271)

Deferred tax

Deferred tax assets and liabilities

 

Bovingdon Brickworks Ltd

Notes to the Financial Statements for the Year Ended 30 June 2024

9

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 July 2023

947,008

947,008

Disposals

(947,008)

(947,008)

At 30 June 2024

-

-

Depreciation

At 1 July 2023

415,738

415,738

Eliminated on disposal

(415,738)

(415,738)

At 30 June 2024

-

-

Carrying amount

At 30 June 2024

-

-

At 30 June 2023

531,270

531,270

Included within the net book value of land and buildings above is £Nil (2023 - £531,270) in respect of freehold land and buildings.
 

10

Investment properties

2024
£

Additions

722,526

At 30 June

722,526

There has been no valuation of investment property by an independent valuer.

11

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

-

774

Amounts owed by related parties

-

8,271

Other debtors

 

3,488

19,745

Prepayments

 

-

53,117

   

3,488

81,907

 

Bovingdon Brickworks Ltd

Notes to the Financial Statements for the Year Ended 30 June 2024

12

Cash and cash equivalents

2024
£

2023
£

Cash at bank

108,120

44,047

13

Creditors

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

-

2,859

Amounts due to related parties

2,663,903

2,500,016

Social security and other taxes

 

1,583

-

Other payables

 

-

45,280

Accruals

 

2,500

3,489

 

2,667,986

2,551,644

14

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

4,002

4,002

4,002

4,002

       

15

Contingent liabilities

The bank account is part of a common bank account known as "Smith Companies Group Account" which has been guaranteed jointly and severally by E H Smith Holdings Limited, all its subsidiary companies and other non-group companies in which its shareholders and directors have interest. At 30 June 2024 there was no liability under this guarantee (2023 nil)

16

Parent and ultimate parent undertaking

The company's immediate parent is EH Smith (Holdings) Ltd, incorporated in England.