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Registration number: 02297613

The Soft Brick Company Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

The Soft Brick Company Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

The Soft Brick Company Limited

Company Information

Directors

Mr John Greenlaw Fairbairn

Mr Terence Walter Scales

Mr Ian Harper

Mr Trevor Anthony Wetton

Mr Graham Law Robinson

Registered office

Unit 2 - 4 Causeway Park
Central Road
Warrington
Cheshire
WA4 6RF

Accountants

Bright Partnership Limited
26 Edward Court
Broadheath
Altrincham
WA14 5GL

 

The Soft Brick Company Limited

(Registration number: 02297613)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

209,761

58,634

Investments

5

115,628

-

 

325,389

58,634

Current assets

 

Stocks

128,544

122,767

Debtors

6

506,924

323,188

Cash at bank and in hand

 

1,263,230

1,538,170

 

1,898,698

1,984,125

Creditors: Amounts falling due within one year

7

(881,577)

(839,401)

Net current assets

 

1,017,121

1,144,724

Total assets less current liabilities

 

1,342,510

1,203,358

Provisions for liabilities

(52,441)

(11,141)

Net assets

 

1,290,069

1,192,217

Capital and reserves

 

Called up share capital

8

1,654

1,654

Share premium reserve

42,628

42,628

Capital redemption reserve

(318,389)

(318,389)

Retained earnings

1,564,176

1,466,324

Shareholders' funds

 

1,290,069

1,192,217

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 January 2025 and signed on its behalf by:
 

 

The Soft Brick Company Limited

(Registration number: 02297613)
Balance Sheet as at 31 May 2024

.........................................
Mr Graham Law Robinson
Director

 

The Soft Brick Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

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

The address of its registered office is:
Unit 2 - 4 Causeway Park
Central Road
Warrington
Cheshire
WA4 6RF
England

These financial statements were authorised for issue by the Board on 22 January 2025.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

These financial statements are presented in sterling, which is the functional currency of the entity.

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 sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

The Soft Brick Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 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 balance sheet 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.

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

Plant and machinery

15% on Straight Line Method

Fixtures and fittings

15% on Straight Line Method

Motor vehicles

25% on Straight Line Method

Office equipment

15% on Straight Line Method

Improvements to property

15% on Straight Line Method

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

The Soft Brick Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

The Soft Brick Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 17 (2023 - 30).

 

The Soft Brick Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 June 2023

11,430

25,935

15,362

14,281

Additions

-

-

4,445

162,435

Disposals

-

-

-

-

At 31 May 2024

11,430

25,935

19,807

176,716

Depreciation

At 1 June 2023

4,783

25,935

4,711

7,423

Charge for the year

1,714

-

2,755

2,194

Eliminated on disposal

-

-

-

-

At 31 May 2024

6,497

25,935

7,466

9,617

Carrying amount

At 31 May 2024

4,933

-

12,341

167,099

At 31 May 2023

6,647

-

10,651

6,858

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2023

66,555

133,563

Additions

-

166,880

Disposals

(13,995)

(13,995)

At 31 May 2024

52,560

286,448

Depreciation

At 1 June 2023

32,077

74,929

Charge for the year

9,090

15,753

Eliminated on disposal

(13,995)

(13,995)

At 31 May 2024

27,172

76,687

Carrying amount

At 31 May 2024

25,388

209,761

At 31 May 2023

34,478

58,634

 

The Soft Brick Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

5

Investments

2024
£

2023
£

Investments in subsidiaries

115,628

-

Subsidiaries

£

Cost or valuation

At 1 June 2023

115,628

Provision

Carrying amount

At 31 May 2024

115,628

 

The Soft Brick Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

416,630

248,223

Prepayments

74,508

71,799

Other debtors

15,786

3,166

 

506,924

323,188

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

242,616

183,822

Taxation and social security

50,309

176,000

Accruals and deferred income

564,380

472,528

Other creditors

24,272

7,051

881,577

839,401

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

1,654

1,654

1,654

1,654