Brickcraft (Newbury) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03770457 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2019

FOR

BRICKCRAFT (NEWBURY) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M J Atkinson

REGISTERED OFFICE:

Griffins Court

24-32 London Road

NEWBURY

Berkshire

RG14 1JX

REGISTERED NUMBER:

03770457 (England and Wales)

ACCOUNTANTS:

Wilkins Kennedy

Accountants

Griffins Court

24-32 London Road

NEWBURY

Berkshire

RG14 1JX

FIXED ASSETS

Tangible assets

4

21,977

29,284

CURRENT ASSETS

Debtors

5

23,334

40,629

CREDITORS

Amounts falling due within one year

6

102,435

94,932

NET CURRENT LIABILITIES

(79,101

)

(54,303

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(57,124

)

(25,019

)

CREDITORS

Amounts falling due after more than one year

7

-

(1,521

)

PROVISIONS FOR LIABILITIES

(3,734

)

(5,564

)

NET LIABILITIES

(60,858

)

(32,104

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(60,860

)

(32,106

)

SHAREHOLDERS' FUNDS

(60,858

)

(32,104

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 14 November 2019 and were signed by:

M J Atkinson - Director

1.	STATUTORY INFORMATION

Brickcraft (Newbury) Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling which is the functional currency of the company and rounded to the

nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies

have been consistently applied to all years presented unless otherwise stated.

Significant judgements and estimates

The preparation of financial statements requires management to make judgements, estimates and assumptions that affect

the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and

expenses during the period. However, the nature of estimation means that actual outcomes could differ from those

estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts

recognised in the financial statements.

Revenue recognition

The key judgement made by management in respect of revenue is the point at which that revenue should be recognised.

Management consider the underlying contract terms and conclude upon the most appropriate point of the cycle at which

to recognise revenue based upon these terms and in particular where the risks and rewards of ownership transfer.

Tangible Fixed Assets

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The

actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual

value assessments consider issues such as the remaining life of the asset and projected disposal values.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Turnover relates to sales within the UK market. The policies adopted for the recognition of turnover are as follows:

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from the rendering of services is recognised as the

service is performed.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent

that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet

date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been

enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire

purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over

their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the

future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme

are charged to profit or loss in the period to which they relate.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet

date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and

compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is

recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation

decrease.

Provisions

Provisions are recognised when the company has a legal or constructive obligation at the report date as a result of a past

event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be

reliably estimated.

Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

Short-term employee benefits

Short-term employee benefits are recognised as an expense in the period in which they are incurred.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction

price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational

existence for the foreseeable. They continue to believe the going concern basis of accounting is appropriate in preparing

the annual financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2018

and 31 January 2019

165,931

DEPRECIATION

At 1 February 2018

136,647

Charge for year

7,307

At 31 January 2019

143,954

NET BOOK VALUE

At 31 January 2019

21,977

At 31 January 2018

29,284

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 February 2018

107,030

Transfer to ownership

(76,150

)

At 31 January 2019

30,880

DEPRECIATION

At 1 February 2018

84,554

Charge for year

2,714

Transfer to ownership

(64,530

)

At 31 January 2019

22,738

NET BOOK VALUE

At 31 January 2019

8,142

At 31 January 2018

22,476

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/1/19

31/1/18

£

£

Other debtors

23,334

40,629

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/1/19

31/1/18

£

£

Bank loans and overdrafts

39,563

27,343

Hire purchase contracts

1,521

3,531

Trade creditors

9,357

5,340

Taxation and social security

16,372

22,778

Other creditors

35,622

35,940

102,435

94,932

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/1/19

31/1/18

£

£

Hire purchase contracts

-

1,521

8.	SECURED DEBTS

The following secured debts are included within creditors:

31/1/19

31/1/18

£

£

Bank overdraft

39,563

-

Hire purchase contracts

1,521

-

41,084

-

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2019 and 31 January 2018:

31/1/19

31/1/18

£

£

M J Atkinson

Balance outstanding at start of year

29,875

23,474

Amounts advanced

-

6,401

Amounts repaid

(21,108

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

8,767

29,875