Crowding Bricks Limited Filleted accounts for Companies House (small and micro)

CROWDING BRICKS LTD - Company Information

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COMPANY REGISTRATION NUMBER: 09380583

CROWDING BRICKS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2023

CROWDING BRICKS LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

CROWDING BRICKS LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

The board of directors	R Slabbert
	C J Scorer

Registered office	168 Church Road
	Hove
	East Sussex
	BN3 2DL

Accountants	UHY Hacker Young
	Chartered accountants
	168 Church Road
	Hove
	BN3 2DL

CROWDING BRICKS LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2023

	2023		2022
Note	£	£	£

Fixed assets

Tangible assets	6		7,350	9,134

Current assets

Debtors	7	16,763	50,146
Cash at bank and in hand		28,665	32,387
		---------	---------
		45,428	82,533

Creditors: amounts falling due within one year	8	43,128		74,235
		---------		---------
Net current assets			2,300	8,298
			-------	---------
Total assets less current liabilities			9,650	17,432

Creditors: amounts falling due after more than one year	9	19,333	27,333
		---------	---------
Net liabilities		( 9,683)	( 9,901)
		---------	---------

Capital and reserves

Called up share capital	1	1
Profit and loss account	( 9,684)	( 9,902)
	-------	-------
Shareholders deficit	( 9,683)	( 9,901)
	-------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2023 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 year in question in accordance with section 476 ;

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

CROWDING BRICKS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2023

These financial statements were approved by the board of directors and authorised for issue on 18 January 2024 , and are signed on behalf of the board by:

R Slabbert	C J Scorer
Director	Director

Company registration number: 09380583

CROWDING BRICKS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 168 Church Road, Hove, East Sussex, BN3 2DL.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared under the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends upon the continuing support of the company's connected companies and directors. If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet values of the assets to their recoverable amounts and to provide for further liabilities that might arise. The directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. No significant judgements have had to be made by the directors in preparing these financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Operating leases

Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Motor vehicles	-	25% reducing balance
Fixtures, fittings and equipment	-	25 % reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Government grants

Government grants are recognised using the accrual model.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship (see hedge accounting policy).

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2022: 4 ).

5. Deferred tax

The total amount of unprovided deferred tax, which results from available tax losses and capital allowances is an asset of £2,481. The deferred tax asset will become recoverable when the company starts to make sufficient profits to allow the carried forward losses to be utilised.

6. Tangible assets

	Motor vehicles	Equipment	Total
	£	£	£
Cost
At 1 April 2022	3,706	9,921	13,627
Additions	–	666	666
	-------	---------	---------
At 31 March 2023	3,706	10,587	14,293
	-------	---------	---------
Depreciation
At 1 April 2022	1,199	3,294	4,493
Charge for the year	627	1,823	2,450
	-------	---------	---------
At 31 March 2023	1,826	5,117	6,943
	-------	---------	---------
Carrying amount
At 31 March 2023	1,880	5,470	7,350
	-------	---------	---------
At 31 March 2022	2,507	6,627	9,134
	-------	---------	---------

7. Debtors

	2023	2022
	£	£
Trade debtors	7,470	4,531
Other debtors	9,293	45,615
	---------	---------
	16,763	50,146
	---------	---------

8. Creditors: amounts falling due within one year

	2023	2022
	£	£
Bank loans and overdrafts	8,000	8,000
Trade creditors	–	3,002
Amounts owed to group undertakings and undertakings in which the company has a participating interest	5,293	37,938
Social security and other taxes	5,736	3,089
Amounts due to connected companies	18,099	18,099
Other creditors	6,000	4,107
	---------	---------
	43,128	74,235
	---------	---------

9. Creditors: amounts falling due after more than one year

	2023	2022
	£	£
Bank loans and overdrafts	19,333	27,333
	---------	---------