Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-302023-05-01falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falseNo description of principal activity66true 09298424 2023-05-01 2024-04-30 09298424 2022-05-01 2023-04-30 09298424 2024-04-30 09298424 2023-04-30 09298424 c:Director1 2023-05-01 2024-04-30 09298424 c:Director2 2023-05-01 2024-04-30 09298424 d:MotorVehicles 2023-05-01 2024-04-30 09298424 d:MotorVehicles 2024-04-30 09298424 d:MotorVehicles 2023-04-30 09298424 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 09298424 d:ComputerEquipment 2023-05-01 2024-04-30 09298424 d:ComputerEquipment 2024-04-30 09298424 d:ComputerEquipment 2023-04-30 09298424 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 09298424 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 09298424 d:CurrentFinancialInstruments 2024-04-30 09298424 d:CurrentFinancialInstruments 2023-04-30 09298424 d:Non-currentFinancialInstruments 2024-04-30 09298424 d:Non-currentFinancialInstruments 2023-04-30 09298424 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 09298424 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 09298424 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 09298424 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 09298424 d:ShareCapital 2024-04-30 09298424 d:ShareCapital 2023-04-30 09298424 d:SharePremium 2024-04-30 09298424 d:SharePremium 2023-04-30 09298424 d:CapitalRedemptionReserve 2024-04-30 09298424 d:CapitalRedemptionReserve 2023-04-30 09298424 d:RetainedEarningsAccumulatedLosses 2024-04-30 09298424 d:RetainedEarningsAccumulatedLosses 2023-04-30 09298424 c:OrdinaryShareClass1 2023-05-01 2024-04-30 09298424 c:OrdinaryShareClass1 2024-04-30 09298424 c:OrdinaryShareClass1 2023-04-30 09298424 c:FRS102 2023-05-01 2024-04-30 09298424 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 09298424 c:FullAccounts 2023-05-01 2024-04-30 09298424 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 09298424 d:WithinOneYear 2024-04-30 09298424 d:WithinOneYear 2023-04-30 09298424 d:BetweenOneFiveYears 2024-04-30 09298424 d:BetweenOneFiveYears 2023-04-30 09298424 2 2023-05-01 2024-04-30 09298424 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 09298424 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 09298424 d:TaxLossesCarry-forwardsDeferredTax 2024-04-30 09298424 d:TaxLossesCarry-forwardsDeferredTax 2023-04-30 09298424 e:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09298424
















BRICKS FINANCE LIMITED


UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

































BRICKS FINANCE LIMITED
REGISTERED NUMBER:09298424

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
As restated
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
97,202
127,638

  
97,202
127,638

Current assets
  

Debtors
 6 
45,777,910
44,290,359

Cash at bank and in hand
  
1,019,142
1,201,918

  
46,797,052
45,492,277

Creditors: amounts falling due within one year
 7 
(15,236,282)
(11,151,154)

Net current assets
  
 
 
31,560,770
 
 
34,341,123

Total assets less current liabilities
  
31,657,972
34,468,761

Creditors: amounts falling due after more than one year
 8 
(30,092,436)
(31,575,631)

Provisions for liabilities
  

Deferred tax
 9 
-
(31,910)

  
 
 
-
 
 
(31,910)

Net assets
  
1,565,536
2,861,220


Capital and reserves
  

Called up share capital 
 10 
2,550
2,550

Share premium account
  
336,600
336,600

Capital redemption reserve
  
850
850

Profit and loss account
  
1,225,536
2,521,220

  
1,565,536
2,861,220


Page 1


BRICKS FINANCE LIMITED
REGISTERED NUMBER:09298424
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 





Mr C Banks
Mr J Rihll
Director
Director


Date: 31 January 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2


BRICKS FINANCE LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


GENERAL INFORMATION

Bricks Finance Limited is a private company limited by shares incorporated in England and Wales, registered number 09298424. The registered office is Winslade Park Manor Drive, Clyst St Mary, Exeter, EX5 1FY.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The financial statements have been prepared on a going concern basis. The Directors have assessed this basis with reference to the cost of living crisis and have deemed it to be reasonable. 

 
2.3

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

The company acts as a bridging financer. Amounts receivable are initially recongised in debtors at the present value. Loan payments received are apportioned between capital and interest. Interest is recongised as revenue as it accrues on a daily basis. 

 
2.4

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3


BRICKS FINANCE LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.ACCOUNTING POLICIES (continued)

 
2.8

CURRENT AND DEFERRED TAXATION

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.9

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
20%
Computer and office equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4


BRICKS FINANCE LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.ACCOUNTING POLICIES (continued)

 
2.11

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

  
2.13

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like loan debtors and creditors.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. 

 
2.14

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 6 (2023: 6).

Page 5


BRICKS FINANCE LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


TANGIBLE FIXED ASSETS





Motor vehicles
Computer equipment
Total

£
£
£



COST OR VALUATION


At 1 May 2023
155,905
18,097
174,002


Additions
-
3,374
3,374


Disposals
-
(10,157)
(10,157)



At 30 April 2024

155,905
11,314
167,219



DEPRECIATION


At 1 May 2023
33,351
13,013
46,364


Charge for the year 
31,181
1,838
33,019


Disposals
-
(9,366)
(9,366)



At 30 April 2024

64,532
5,485
70,017



NET BOOK VALUE



At 30 April 2024
91,373
5,829
97,202



At 30 April 2023
122,554
5,084
127,638


5.


FIXED ASSET INVESTMENTS

On 21 July, as part of the exercise of a charge over property in respect of a loan the Bricks Finance Limited had made, Bricks Finance Limited acquired one of the two ordinary shares in issue in J Boston & Sons (Holdings) Limited for nil consideration.  J Boston & Sons (Holdings) Limited owns 100% of the share capital of Geosa Limited.  Mr C Banks and Mr W Michelmore were appointed as the only directors of J Boston & Sons (Holdings) Limited and Geosa Limited from that date.  The balance sheet of Bricks Finance Limited at 30 April 2024 includes a balance due from J Boston & Sons (Holdings) Limited of £8.78m, included in debtors due in less than 1 year.  No interest has been recognised on this loan since 21 July 2024.












Page 6


BRICKS FINANCE LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


DEBTORS


2024
As restated
2023
£
£

DUE AFTER MORE THAN ONE YEAR

Loans advanced
3,206,679
4,783,165

3,206,679
4,783,165

DUE WITHIN ONE YEAR

Loans advanced
41,854,759
39,507,194

Other debtors
424,563
-

Deferred taxation
291,909
-

45,777,910
44,290,359



7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
As restated
2023
£
£

Loans
15,050,317
10,941,279

Corporation tax
-
111,410

Other taxation and social security
176,085
88,937

Other creditors
-
3,800

Other accruals and deferred income
9,880
5,728

15,236,282
11,151,154



8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Loans
30,092,436
31,575,631

30,092,436
31,575,631


Page 7


BRICKS FINANCE LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


DEFERRED TAXATION




2024


£






At beginning of year
(31,910)


Credited to profit or loss
323,819



AT END OF YEAR
291,909

2024
2023
£
£


Accelerated capital allowances
(24,301)
(31,910)

Tax losses carried forward
316,210
-

291,909
(31,910)


10.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



255,000 (2023: 255,000) A Ordinary shares of £0.01 each
2,550
2,550



11.


PRIOR YEAR ADJUSTMENT

The prior year adjustment relates to a correction to the bad debts provision at 30 April 2023 and the associated adjustment to the corporation tax provision. Comparative figures have been restated accordingly.


12.


COMMITMENTS UNDER OPERATING LEASES

At 30 April 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
19,440
16,200

Later than 1 year and not later than 5 years
17,820
-

37,260
16,200

 
Page 8