Company Registration No. 09383953 (England and Wales)
DN Brickwork Ltd
Annual Report And Unaudited Accounts
for the year ended 31 March 2024
DN Brickwork Ltd
Annual Report And Unaudited Accounts
Contents
DN Brickwork Ltd
Company Information
for the year ended 31 March 2024
Directors
Mr D A Nelson
Mrs R J Nelson
Company Number
09383953 (England and Wales)
Registered Office
Office 34
Minerva Mill, Station Road
Alcester
Warwickshire
B49 5ET
United Kingdom
Accountants
The Ledger House Accountancy
Minerva Mill, Office 34
Station Road
Alcester
Warwickshire
B49 5ET
DN Brickwork Ltd
Statement of financial position
as at 31 March 2024
Tangible assets
19,970
21,937
Cash at bank and in hand
(3,651)
9,770
Creditors: amounts falling due within one year
(143,551)
(142,501)
Net current liabilities
(12,554)
(11,415)
Total assets less current liabilities
7,416
10,522
Creditors: amounts falling due after more than one year
(30,268)
(19,531)
Net liabilities
(22,852)
(9,009)
Called up share capital
100
100
Profit and loss account
(22,952)
(9,109)
Shareholders' funds
(22,852)
(9,009)
For the year ending 31 March 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2024 and were signed on its behalf by
Mrs R J Nelson
Director
Company Registration No. 09383953
DN Brickwork Ltd
Notes to the Accounts
for the year ended 31 March 2024
DN Brickwork Ltd is a private company, limited by shares, registered in England and Wales, registration number 09383953. The registered office is Office 34, Minerva Mill, Station Road, Alcester, Warwickshire, B49 5ET, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
3.1 Presentation currency
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principle accounting policies adopted are set out below.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable it will be recovered.
3.4 Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment.
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
The gain and loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Plant & machinery
33% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Inventories held for distribution at no or nominal consideration are measured at the lower of replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of inventories over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
DN Brickwork Ltd
Notes to the Accounts
for the year ended 31 March 2024
3.6 Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
3.7 Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial instruments Issues' FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Derivatives are initially recognised at fair value at the date a derivative contract is entered into and are subsequently remeasured to fair value at each reporting end date. The resulting gain or loss is recognised in profit or loss immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the recognition in profit or loss depends on the nature of the hedge relationship.
A derivative with a positive fair value is recognised as a financial asset, whereas a derivative with negative fair value is recognised as a financial liability.
The tax expense represents the sum of the tax currently payable and deferred tax.
DN Brickwork Ltd
Notes to the Accounts
for the year ended 31 March 2024
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductable. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
The costs of short term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Leases are classified as financial leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related lability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
DN Brickwork Ltd
Notes to the Accounts
for the year ended 31 March 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2023
22,983
37,624
7,022
67,629
At 31 March 2024
22,983
43,416
7,022
73,421
At 1 April 2023
19,159
21,800
4,733
45,692
Charge for the year
1,421
5,404
934
7,759
At 31 March 2024
20,580
27,204
5,667
53,451
At 31 March 2024
2,403
16,212
1,355
19,970
At 31 March 2023
3,824
15,824
2,289
21,937
Amounts falling due within one year
Trade debtors
(16,802)
17,893
Accrued income and prepayments
4,989
8,582
Other debtors
106,608
88,841
Amounts falling due after more than one year
Accrued income and prepayments
34,853
-
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
2,689
-
Obligations under finance leases and hire purchase contracts
2,557
3,442
Trade creditors
72,597
75,464
Taxes and social security
6,287
10,413
Other creditors
43,956
34,907
Deferred income
1,700
2,738
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
-
2,557
DN Brickwork Ltd
Notes to the Accounts
for the year ended 31 March 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan with Directors
44,420
3,661
-
48,081
Loan with Directors
44,420
3,661
-
48,081
During the year the company entered into the above transactions with Directors'.
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).