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Registration number: 06949215

The Classic Brick Company Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

The Classic Brick Company Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

The Classic Brick Company Ltd

Company Information

Directors

Mr David Anthony Osborn

Mr Michael Chillery

Mr Stephen Carvell

Company secretary

Mr David Anthony Osborn

Registered office

1st Floor
11 Freeport Office Village
Century Drive
Braintree
Essex
CM77 8YG

Accountants

Anthony Russel Limited
1st Floor
11 Freeport Office Village
Century Drive
Braintree
Essex
CM77 8YG

 

The Classic Brick Company Ltd

(Registration number: 06949215)
Balance Sheet as at 31 December 2024

Note

2024
 £

2023
 £

fixed assets

 

tangible assets

4

4,758

2,565

Current assets

 

stocks

365,241

452,908

Debtors

5

391,687

220,976

Cash at bank and in hand

 

44,907

11,668

 

801,835

685,552

Creditors: Amounts falling due within one year

6

(499,641)

(439,398)

Net current assets

 

302,194

246,154

Total assets less current liabilities

 

306,952

248,719

Provisions for liabilities

(1,190)

(487)

Net assets

 

305,762

248,232

capital and reserves

 

Called up share capital

2

2

Profit and loss account

305,760

248,230

Total equity

 

305,762

248,232

 

The Classic Brick Company Ltd

(Registration number: 06949215)
Balance Sheet as at 31 December 2024

For the financial year ending 31 December 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 30 April 2025 and signed on its behalf by:
 

.........................................
Mr David Anthony Osborn
Company secretary and director

 

The Classic Brick Company Ltd

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

1

General information

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

The address of its registered office is:
1st Floor
11 Freeport Office Village
Century Drive
Braintree
Essex
CM77 8YG

These financial statements were authorised for issue by the Board on 30 April 2025.

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 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.

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 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 Classic Brick Company Ltd

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

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

Office equipment

25% reducing balance method

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.

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.

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.

 

The Classic Brick Company Ltd

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

Financial instruments

Classification
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all its financial instruments.
 Recognition and measurement
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 an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

The company only has basic financial instruments

Basic financial assets, which include trade debtors, other debtors; loans to related parties, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing 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.

Basic financial liabilities, including trade creditors, other creditors, loan from related parties, bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing 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.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 4).

 

The Classic Brick Company Ltd

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2024

4,223

4,223

Additions

3,018

3,018

At 31 December 2024

7,241

7,241

Depreciation

At 1 January 2024

1,658

1,658

Charge for the year

825

825

At 31 December 2024

2,483

2,483

Carrying amount

At 31 December 2024

4,758

4,758

At 31 December 2023

2,565

2,565

5

Debtors

Current

2024
£

2023
£

Trade debtors

355,301

201,011

Other debtors

36,386

19,965

 

391,687

220,976

 

The Classic Brick Company Ltd

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
 £

2023
 £

Due within one year

 

trade creditors

 

449,887

395,935

PAYE and NIC

 

10,566

5,701

Accrued expenses

 

-

1,448

Other creditors

 

18,876

18,876

Corporation tax

 

20,312

6,342

VAT

 

-

11,096

 

499,641

439,398

7

Related party transactions

Transactions with directors

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

Interest is charged on the loan at a rate of 2.25%.

Transactions with directors

2024

At 1 January 2024
£

Advances to director
£

Repayments by director
£

At 31 December 2024
£

Mr Stephen Carvell

14,933

3,346

(312)

17,967

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

Mr Stephen Carvell

14,911

335

(312)

14,933