Silverfin false false 30/04/2025 01/05/2024 30/04/2025 Clive John Banks 06/11/2014 William Franck Michelmore 22/05/2017 Jeremy Paul Blake Rihll 28/11/2014 22 August 2025 We pool investor funds with our own to make bespoke short-term loans secured on property in the Southwest. 09298424 2025-04-30 09298424 bus:Director1 2025-04-30 09298424 bus:Director2 2025-04-30 09298424 bus:Director3 2025-04-30 09298424 2024-04-30 09298424 core:CurrentFinancialInstruments 2025-04-30 09298424 core:CurrentFinancialInstruments 2024-04-30 09298424 core:Non-currentFinancialInstruments 2025-04-30 09298424 core:Non-currentFinancialInstruments 2024-04-30 09298424 core:ShareCapital 2025-04-30 09298424 core:ShareCapital 2024-04-30 09298424 core:SharePremium 2025-04-30 09298424 core:SharePremium 2024-04-30 09298424 core:CapitalRedemptionReserve 2025-04-30 09298424 core:CapitalRedemptionReserve 2024-04-30 09298424 core:RetainedEarningsAccumulatedLosses 2025-04-30 09298424 core:RetainedEarningsAccumulatedLosses 2024-04-30 09298424 core:Vehicles 2024-04-30 09298424 core:ComputerEquipment 2024-04-30 09298424 core:Vehicles 2025-04-30 09298424 core:ComputerEquipment 2025-04-30 09298424 2023-04-30 09298424 bus:OrdinaryShareClass1 2025-04-30 09298424 core:WithinOneYear 2025-04-30 09298424 core:WithinOneYear 2024-04-30 09298424 core:BetweenOneFiveYears 2025-04-30 09298424 core:BetweenOneFiveYears 2024-04-30 09298424 2024-05-01 2025-04-30 09298424 bus:FilletedAccounts 2024-05-01 2025-04-30 09298424 bus:SmallEntities 2024-05-01 2025-04-30 09298424 bus:AuditExemptWithAccountantsReport 2024-05-01 2025-04-30 09298424 bus:PrivateLimitedCompanyLtd 2024-05-01 2025-04-30 09298424 bus:Director1 2024-05-01 2025-04-30 09298424 bus:Director2 2024-05-01 2025-04-30 09298424 bus:Director3 2024-05-01 2025-04-30 09298424 core:Vehicles core:TopRangeValue 2024-05-01 2025-04-30 09298424 core:ComputerEquipment core:TopRangeValue 2024-05-01 2025-04-30 09298424 2023-05-01 2024-04-30 09298424 core:Vehicles 2024-05-01 2025-04-30 09298424 core:ComputerEquipment 2024-05-01 2025-04-30 09298424 core:CurrentFinancialInstruments 2024-05-01 2025-04-30 09298424 core:Non-currentFinancialInstruments 2024-05-01 2025-04-30 09298424 bus:OrdinaryShareClass1 2024-05-01 2025-04-30 09298424 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09298424 (England and Wales)

# BRICKS FINANCE LIMITED

### Unaudited Financial Statements
For the financial year ended 30 April 2025
Pages for filing with the registrar

BRICKS FINANCE LIMITED

## Unaudited Financial Statements

For the financial year ended 30 April 2025

Contents

BRICKS FINANCE LIMITED

## STATEMENT OF FINANCIAL POSITION

As at 30 April 2025
BRICKS FINANCE LIMITED

## STATEMENT OF FINANCIAL POSITION (continued)

As at 30 April 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 67,364 |  | 97,202
|  | 67,364 |  | 97,202
Current assets |  |  |  |
Debtors |  |  |  |
- due within one year | 4 | 32,841,139 |  | 42,571,231
- due after more than one year | 4 | 3,460,861 |  | 3,206,679
Cash at bank and in hand |  | 3,466,577 |  | 1,019,142
|  | 39,768,577 |  | 46,797,052
Creditors: amounts falling due within one year | 5 | ( 20,211,069) |  | ( 15,236,282)
Net current assets |  | 19,557,508 |  | 31,560,770
Total assets less current liabilities |  | 19,624,872 |  | 31,657,972
Creditors: amounts falling due after more than one year | 6 | ( 18,431,347) |  | ( 30,092,436)
Net assets |  | 1,193,525 |  | 1,565,536
Capital and reserves |  |  |  |
Called-up share capital | 8 | 2,550 |  | 2,550
Share premium account |  | 336,600 |  | 336,600
Capital redemption reserve |  | 850 |  | 850
Profit and loss account |  | 853,525 |  | 1,225,536
Total shareholders' funds |  | 1,193,525 |  | 1,565,536

For the financial year ending 30 April 2025 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 financial statements for the financial year in accordance with section 476;
- 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; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Bricks Finance Limited (registered number: 09298424) were approved and authorised for issue by the Board of Directors on 22 August 2025. They were signed on its behalf by:

Clive John Banks Director |

BRICKS FINANCE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2025
BRICKS FINANCE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Bricks Finance Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Winslade Park Manor Drive, Clyst St Mary, Exeter, EX5 1FY, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

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 recognised in debtors at the present value. Loan payments received are apportioned between capital and interest. Interest is recognised as revenue as it accrues on a daily basis.

##### Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

##### Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

##### Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so 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.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Vehicles | 5 years straight line
Computer equipment | 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are short-term liquid investments with original maturities of three months or less, and bank overdrafts. These are readily convertible to known amounts of cash with insignificant risk of change in value. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### 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. Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Debt instruments (other than those wholly repayable and 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.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

##### Ordinary share capital

The ordinary share capital of the Company is presented as equity.

##### 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.

##### 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.

##### 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. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 7 |  | 6

#### 3. Tangible assets

| Vehicles |  | Computer equipment |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 May 2024 | 155,905 |  | 11,314 |  | 167,219
Additions | 0 |  | 3,798 |  | 3,798
At 30 April 2025 | 155,905 |  | 15,112 |  | 171,017
Accumulated depreciation |  |  |  |  |
At 01 May 2024 | 64,532 |  | 5,485 |  | 70,017
Charge for the financial year | 31,181 |  | 2,455 |  | 33,636
At 30 April 2025 | 95,713 |  | 7,940 |  | 103,653
Net book value |  |  |  |  |
At 30 April 2025 | 60,192 |  | 7,172 |  | 67,364
At 30 April 2024 | 91,373 |  | 5,829 |  | 97,202

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Debtors: amounts falling due within one year |  |  |
Trade debtors | 32,067,785 |  | 41,854,759
Prepayments | 3,183 |  | 0
Deferred tax asset | 352,565 |  | 291,909
Other debtors | 417,606 |  | 424,563
| 32,841,139 |  | 42,571,231
Debtors: amounts falling due after more than one year |  |  |
Trade debtors | 3,460,861 |  | 3,206,679

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Other loans | 20,098,945 |  | 15,050,317
Accruals | 10,098 |  | 9,880
Other taxation and social security | 73,383 |  | 176,085
Other creditors | 28,643 |  | 0
| 20,211,069 |  | 15,236,282

Other loans represent non-bank loan notes issued by the company.

#### 6. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Other loans | 18,431,347 |  | 30,092,436

There are no amounts included above in respect of which any security has been given by the small entity.
Other loans represent non-bank loan notes issued by the company.

#### 7. Deferred tax

| 2025 |  | 2024
| £ |  | £
At the beginning of financial year | 291,909 |  | ( 31,910)
Credited to the Statement of Income and Retained Earnings | 60,656 |  | 323,819
At the end of financial year | 352,565 |  | 291,909

#### 8. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
255,000 A Ordinary shares of £ 0.01 each | 2,550 |  | 2,550

#### 9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

| 2025 |  | 2024
| £ |  | £
within one year | 17,820 |  | 19,440
between one and five years | 0 |  | 17,820
Total future minimum lease payments under non-cancellable operating leases | 17,820 |  | 37,260

#### 10. Fixed asset investments

On 21 July 2023, 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 2025 includes a balance due from J Boston & Sons (Holdings) Limited of £8.68m, included in debtors due in less than 1 year. No interest has been recognised on this loan since 21 July 2024.
On 21st July 2023 Bricks Finance Ltd also acquired fourteen of the ordinary share capital in Boston Quay Management Limited, 100% of the share capital for nil consideration. Mr C Banks and Mr W Michelmore were appointed as the only directors of Boston Quay Management Limited from this date.
Bricks Finance Limited also holds one ordinary share in Bricks Lending Ltd, which is 100% of the share capital, the company is currently dormant.