Normanton Brick Co. Limited Company accounts

Normanton Brick Co. Limited Company accounts

NORMANTON BRICK COMPANY LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 00058957
Normanton Brick Co. Limited
Unaudited Financial Statements
For the period ended
30 January 2018
Normanton Brick Co. Limited
Financial Statements
Period from 1 August 2016 to 30 January 2018
Contents
Page
Director's report
1
Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements
2
Statement of income and retained earnings
3
Statement of financial position
4
Notes to the financial statements
5
Normanton Brick Co. Limited
Director's Report
Period from 1 August 2016 to 30 January 2018
The director presents his report and the unaudited financial statements of the company for the period ended 30 January 2018 .
Directors
The directors who served the company during the period were as follows:
G A Kirk
P D Kirk
(Died 26 May 2017)
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 22 January 2019 and signed on behalf of the board by:
G A Kirk
Director
Registered office:
2 Chancery Lane
Wakefield
England
WF1 2SS
Normanton Brick Co. Limited
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Normanton Brick Co. Limited
Period from 1 August 2016 to 30 January 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Normanton Brick Co. Limited for the period ended 30 January 2018, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Normanton Brick Co. Limited in accordance with the terms of our engagement letter dated 1 August 2008. Our work has been undertaken solely to prepare for your approval the financial statements of Normanton Brick Co. Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Normanton Brick Co. Limited and its director for our work or for this report.
It is your duty to ensure that Normanton Brick Co. Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Normanton Brick Co. Limited. You consider that Normanton Brick Co. Limited is exempt from the statutory audit requirement for the period. We have not been instructed to carry out an audit or a review of the financial statements of Normanton Brick Co. Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
VOGAN ACCOUNTANCY LIMITED Chartered accountant
2 Chancery Lane Wakefield West Yorkshire WF1 2SS
22 January 2019
Normanton Brick Co. Limited
Statement of Income and Retained Earnings
Period from 1 August 2016 to 30 January 2018
Period from
1 Aug 16 to
Year to
30 Jan 18
31 Jul 16
Note
£
£
Administrative expenses
( 81,853)
761
--------
----
Operating profit/(loss)
81,853
( 761)
Other interest receivable and similar income
53
7
Interest payable and similar expenses
–
1,111
--------
-------
Profit/(loss) before taxation
81,906
( 1,865)
Tax on profit/(loss)
15,154
6,397
--------
-------
Profit/(loss) for the financial period and total comprehensive income
66,752
( 8,262)
--------
-------
Dividends paid and payable
( 90,000)
–
Retained earnings at the start of the period
150,942
159,204
---------
---------
Retained earnings at the end of the period
127,694
150,942
---------
---------
All the activities of the company are from continuing operations.
Normanton Brick Co. Limited
Statement of Financial Position
30 January 2018
30 Jan 18
31 Jul 16
Note
£
£
£
Fixed assets
Investments
4
400
400
Current assets
Debtors
5
2,971
2,971
Investments
6
131,000
131,000
Cash at bank and in hand
58,419
50,608
---------
---------
192,390
184,579
Creditors: amounts falling due within one year
7
60,096
29,037
---------
---------
Net current assets
132,294
155,542
---------
---------
Total assets less current liabilities
132,694
155,942
---------
---------
Net assets
132,694
155,942
---------
---------
Capital and reserves
Called up share capital
5,000
5,000
Profit and loss account
127,694
150,942
---------
---------
Shareholders funds
132,694
155,942
---------
---------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the period ending 30 January 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 22 January 2019 , and are signed on behalf of the board by:
G A Kirk
Director
Company registration number: 00058957
Normanton Brick Co. Limited
Notes to the Financial Statements
Period from 1 August 2016 to 30 January 2018
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Chancery Lane, Wakefield, WF1 2SS, England.
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 directors have taken the decision to cease producing bricks and therefore do not consider it to be appropriate to prepare the accounts on the going concern basis. Consequently the directors have transferred fixed assets which are expected to be disposed of in the forthcoming twelve months to current assets and they are included at their estimated realisable value under the heading of "Other debtors".
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
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 .
4. Investments
Other investments other than loans
£
Cost
At 1 August 2016 and 30 January 2018
400
----
Impairment
At 1 August 2016 and 30 January 2018
–
----
Carrying amount
At 30 January 2018
400
----
At 31 July 2016
400
----
5. Debtors
30 Jan 18
31 Jul 16
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
2,971
2,971
-------
-------
6. Investments
30 Jan 18
31 Jul 16
£
£
Other investments
131,000
131,000
---------
---------
7. Creditors: amounts falling due within one year
30 Jan 18
31 Jul 16
£
£
Trade creditors
18,446
18,446
Corporation tax
15,154
–
Social security and other taxes
23,820
7,570
Other creditors
2,676
3,021
--------
--------
60,096
29,037
--------
--------
8. Controlling party
The directors consider Snydale Brickworks Limited, a company incorporated in England and Wales to be the company's ultimate holding company.