Roe Brickwork Limited 05570335 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is that of brickwork installations. Digita Accounts Production Advanced 6.30.9574.0 true true true 05570335 2023-05-01 2024-04-30 05570335 2024-04-30 05570335 bus:Director4 1 2024-04-30 05570335 bus:OrdinaryShareClass1 2024-04-30 05570335 core:RetainedEarningsAccumulatedLosses 2024-04-30 05570335 core:ShareCapital 2024-04-30 05570335 core:SharePremium 2024-04-30 05570335 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-04-30 05570335 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-04-30 05570335 core:CurrentFinancialInstruments 2024-04-30 05570335 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 05570335 core:Non-currentFinancialInstruments 2024-04-30 05570335 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 05570335 core:FurnitureFittingsToolsEquipment 2024-04-30 05570335 core:LandBuildings 2024-04-30 05570335 core:MotorVehicles 2024-04-30 05570335 core:OtherPropertyPlantEquipment 2024-04-30 05570335 bus:SmallEntities 2023-05-01 2024-04-30 05570335 bus:Audited 2023-05-01 2024-04-30 05570335 bus:FullAccounts 2023-05-01 2024-04-30 05570335 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 05570335 bus:RegisteredOffice 2023-05-01 2024-04-30 05570335 bus:Director4 2023-05-01 2024-04-30 05570335 bus:Director4 1 2023-05-01 2024-04-30 05570335 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 05570335 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 05570335 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 05570335 core:LandBuildings 2023-05-01 2024-04-30 05570335 core:MotorVehicles 2023-05-01 2024-04-30 05570335 core:OfficeEquipment 2023-05-01 2024-04-30 05570335 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 05570335 core:PlantMachinery 2023-05-01 2024-04-30 05570335 core:OtherRelatedParties 2023-05-01 2024-04-30 05570335 core:UKTax 2023-05-01 2024-04-30 05570335 1 2023-05-01 2024-04-30 05570335 countries:England 2023-05-01 2024-04-30 05570335 2023-04-30 05570335 bus:Director4 1 2023-04-30 05570335 core:FurnitureFittingsToolsEquipment 2023-04-30 05570335 core:LandBuildings 2023-04-30 05570335 core:MotorVehicles 2023-04-30 05570335 core:OtherPropertyPlantEquipment 2023-04-30 05570335 2022-05-01 2023-04-30 05570335 2023-04-30 05570335 bus:Director4 1 2023-04-30 05570335 bus:OrdinaryShareClass1 2023-04-30 05570335 core:RetainedEarningsAccumulatedLosses 2023-04-30 05570335 core:ShareCapital 2023-04-30 05570335 core:SharePremium 2023-04-30 05570335 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-04-30 05570335 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-04-30 05570335 core:CurrentFinancialInstruments 2023-04-30 05570335 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 05570335 core:Non-currentFinancialInstruments 2023-04-30 05570335 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 05570335 core:FurnitureFittingsToolsEquipment 2023-04-30 05570335 core:LandBuildings 2023-04-30 05570335 core:MotorVehicles 2023-04-30 05570335 core:OtherPropertyPlantEquipment 2023-04-30 05570335 bus:Director4 1 2022-05-01 2023-04-30 05570335 core:UKTax 2022-05-01 2023-04-30 05570335 bus:Director4 1 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05570335

Roe Brickwork Limited

Annual Report and Financial Statements

for the Year Ended 30 April 2024

 

Roe Brickwork Limited

Contents

Statement of Directors' Responsibilities

1

Balance Sheet

2

Notes to the Financial Statements

3 to 12

 

Roe Brickwork Limited

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;

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.

 

Roe Brickwork Limited

(Registration number: 05570335)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

6

740,352

347,094

Current assets

 

Debtors

7

3,960,440

3,882,736

Cash at bank and in hand

 

700,911

647,546

 

4,661,351

4,530,282

Creditors: Amounts falling due within one year

8

(4,138,881)

(4,569,549)

Net current assets/(liabilities)

 

522,470

(39,267)

Total assets less current liabilities

 

1,262,822

307,827

Creditors: Amounts falling due after more than one year

8

(323,713)

(183,528)

Provisions for liabilities

13,218

223,689

Net assets

 

952,327

347,988

Capital and reserves

 

Called up share capital

1,100

1,100

Share premium reserve

15,687

15,687

Retained earnings

935,540

331,201

Shareholders' funds

 

952,327

347,988

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 31 January 2025 and signed on its behalf by:
 

D Roe

Director

 

Roe Brickwork Limited

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

1

General information

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

The address of its registered office and principal place of business is:
Enterprise Road
Westwood Industrial Estate
Margate
Kent
CT9 4JA

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.

Basis of preparation

These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including section 1A of Financial Reporting Standard 102 - 'The Financial Reporting standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102 1A'), and with the Companies Act 2006.

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.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies 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 historic experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Specifically, judgements and estimates are required in determining the useful economic lives of fixed assets, valuing amounts recoverable on contracts and the recoverability of trade debtors.

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.

 

Roe Brickwork Limited

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

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 and after eliminating sales within the company.

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.

The right to consideration occurs as each contract begins. Contract values are agreed by third party consultants on a periodic basis.

Tax

The tax expense for the period comprises of 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 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 on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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% Reducing balance

Office equipment

33% Straight line

Motor vehicles

25% Reducing balance

Freehold property

Freehold land and buildings is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers/the directors. 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.

 

Roe Brickwork Limited

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

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial assets are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial assets at initial recognition.

Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at initial recognition.

 Recognition and measurement
All financial instruments are recognised initially at fair value plus transaction costs. Thereafter financial instruments are stated at amortised cost using the effective interest rate method (less impairment where appropriate) unless the effect of discounting would be immaterial in which case they are stated at cost (less impairment where appropriate). The exception to this are those financial instruments where it is a requirement to continue recording them at fair value through profit and loss.


 Impairment
Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the asset have been affected.

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 and other debtors

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 contract.

Amounts recoverable on contracts

Long-term and short-term contracts have been included in the company's balance sheet at the amount by which recorded turnover is in excess of payments on account and retentions, and classified as "amounts recoverable on contracts", and disclosed separately within debtors. At the balance sheet date, each individual contract was assessed and reflected in the profit and loss account by recording turnover in a manner appropriate to the stage of completion of the contract.

 

Roe Brickwork Limited

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

Trade and other creditors

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

 

Roe Brickwork Limited

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

Dividends

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

Defined contribution pension obligation

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.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 31 January 2025 was Andrew Warren, who signed for and on behalf of McBrides Accountants LLP.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 27 (2023 - 19).

4

Exceptional expense

In the prior year the company received VAT Assessment notices from HM Revenue & Customs. Discussions are ongoing in this respect, however the company provided for an additional £Nil (2023: £1,947,314) of VAT and interest within cost of sales.

 

Roe Brickwork Limited

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

5

Taxation

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

2024
 £

2023
 £

Deferred taxation

Arising from origination and reversal of timing differences

210,471

(282,433)

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 25% (2023 - 25%).

The differences are reconciled below:

2024
 £

2023
 £

Profit/(loss) before tax

814,810

(1,122,580)

Corporation tax at standard rate

203,703

(280,645)

Effect of expenses not deductible in determining taxable profit (tax loss)

-

6,161

Deferred tax expense (credit)

210,471

(282,433)

Tax increase (decrease) from effect of capital allowances and depreciation

4,078

(35,979)

Tax increase (decrease) from other short-term timing differences

65

-

Tax increase (decrease) from effect of unrelieved tax losses carried forward

-

310,463

Tax increase (decrease) from changes in tax provisions due to legislation

6,704

-

Tax decrease from utilisation of tax losses

(214,550)

-

Total tax charge/(credit)

210,471

(282,433)

 

Roe Brickwork Limited

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

6

Tangible assets

Freehold land and buildings
£

Office equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 May 2023

-

7,438

603,410

68,000

678,848

Additions

409,570

2,115

80,344

-

492,029

Disposals

-

-

(10,800)

-

(10,800)

At 30 April 2024

409,570

9,553

672,954

68,000

1,160,077

Depreciation

At 1 May 2023

-

5,880

299,636

26,238

331,754

Charge for the year

-

1,270

88,559

6,264

96,093

Eliminated on disposal

-

-

(8,122)

-

(8,122)

At 30 April 2024

-

7,150

380,073

32,502

419,725

Carrying amount

At 30 April 2024

409,570

2,403

292,881

35,498

740,352

At 30 April 2023

-

1,558

303,774

41,762

347,094

Included within the net book value of land and buildings above is £409,570 (2023 - £Nil) in respect of freehold land and buildings.
 

7

Debtors

2024
£

2023
£

Trade debtors

766,788

633,860

Amounts recoverable on contracts

2,326,623

2,507,928

Amounts due from group undertakings

459,165

-

Prepayments

71,143

68,331

Other debtors

336,721

672,617

3,960,440

3,882,736

Less Non Current Portion

(402,732)

(263,128)

 

Roe Brickwork Limited

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

Details of non-current trade and other debtors

£402,732 (2023 -£263,128) of sales retentions included in trade debtors are classified as non current.

8

Creditors

Creditors: amounts falling due within one year

Note

2024
 £

2023
 £

Due within one year

 

Loans and borrowings

9

419,361

78,344

Trade creditors

 

2,159,992

2,297,450

Amounts owed to group undertakings

 

-

59,990

Other taxation and social security

 

1,230,753

13,282

Other creditors

 

328,775

2,120,483

 

4,138,881

4,569,549

Due after one year

 

Loans and borrowings

9

323,713

183,528

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

165,171

-

Hire purchase contracts

158,542

183,528

323,713

183,528

2024
£

2023
£

Current loans and borrowings

Bank borrowings

5,996

-

Other borrowings

335,557

-

Hire purchase contracts

77,808

78,344

419,361

78,344

 

Roe Brickwork Limited

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

Bank borrowings include a term loan with Lloyds Bank and are denominated in Sterling with a nominal interest rate of 4.85% over Base, the final instalment is due on 9th August 2038. The loan is secured over the land and buildings at Unit 9 & 10 Watsons Yard, Manston.

Other borrowings comprise of amounts due in respect of an invoice and trade finance arrangement with Aldermore Bank and are secured on the debts concerned and a fixed and floating charge over the company's assets.

Hire purchase liabilities are secured on the assets concerned.

10

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

1,100

1,100

1,100

1,100

         

11

Contingent liabilities

Lloyds Bank have a right of set off over the company's bank balances to secure liabilities of the parent company.

12

Related party transactions

Transactions with directors

2024

At 1 May 2023
£

Advances to director
£

Repayments by director
£

At 30 April 2024
£

Directors' loan accounts

88,246

106,696

(3,014)

191,928

         
       

 

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

Directors' loan accounts

281,082

18,556

(211,392)

88,246

         
       

 

Loans granted to directors are unsecured, interest free and repayable on demand.

 

Roe Brickwork Limited

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

Summary of transactions with other related parties

The company has taken advantage of the exemption in FRS 102 1AC.35 "Related Party Disclosures" from disclosing transactions with other members of the group.

At the balance sheet date, the company was owed £89,292 (2023: £82,245) by Roe Timber Frame Holdings Limited, a company under common control.

During the year the company made purchases of £18,212 (2023: £Nil) from Roe Timber Frame Limited. At the balance sheet date, the company was owed £Nil (2023: £32,975) by Roe Timber Frame Limited, a company under common control.

During the year the company made sales of £Nil (2023: £115,698) to and made purchases of £1,450 (2023: £Nil) from Rexdon Limited, a company under common control. At the balance sheet date, the company was owed £314,899 (2023: £549,656) by Rexdon Limited.

During the year the company made purchases of £1,172 (2023: £22,604) from Roe Stairs Limited, a company under common control. At the balance sheet date, the company owed £56 (2023: £51) to Roe Stairs Limited.

Loans to and from other related parties are interest free, unsecured and repayable on demand.

13

Parent and ultimate parent undertaking

The parent of the smallest group in which these financial statements are consolidated is Roe Limited, incorporated in England.

The address of Roe Limited is:
Enterprise Road
Westwood Industrial Estate
Margate
Kent
CT9 4JA