Company registration number:
09656607
Barlow & Cartwright Brickwork Limited
Unaudited filleted financial statements
30 June 2019
Barlow & Cartwright Brickwork Limited
Contents
Statement of financial position
Notes to the financial statements
Barlow & Cartwright Brickwork Limited
Statement of financial position
30 June 2019
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2019
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2018
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Note
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£
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£
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£
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£
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Fixed assets
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Tangible assets
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6
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4,587
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5,737
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_______
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_______
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4,587
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5,737
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Current assets
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Debtors
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7
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200,964
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110,316
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Cash at bank and in hand
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37,061
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47,199
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_______
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_______
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238,025
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157,515
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Creditors: amounts falling due
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within one year
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8
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(
151,871)
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(
104,161)
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_______
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_______
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Net current assets
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86,154
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53,354
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_______
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_______
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Total assets less current liabilities
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90,741
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59,091
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_______
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_______
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Net assets
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90,741
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59,091
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_______
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_______
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Capital and reserves
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Called up share capital
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100
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100
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Profit and loss account
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90,641
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58,991
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_______
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_______
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Shareholders funds
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90,741
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59,091
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_______
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_______
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For the year ending 30 June 2019 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.
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 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.
These financial statements were approved by the
board of directors
and authorised for issue on
13 March 2020
, and are signed on behalf of the board by:
Mr Matthew Cartwright
Director
Company registration number:
09656607
Barlow & Cartwright Brickwork Limited
Notes to the financial statements
Year ended 30 June 2019
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Jacksons Chartered Accountants, Deansfield House, 98 Lancaster Road, Newcastle-under-Lyme, Staffordshire, ST5 1DS.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
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Office equipment
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-
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25 %
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reducing balance
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Tooling and equipment
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-
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25 %
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reducing balance
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
5
(2018:
4
).
5.
Profit before taxation
Profit before taxation is stated after charging/(crediting):
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2019
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2018
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£
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£
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Depreciation of tangible assets
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1,529
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1,913
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_______
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_______
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6.
Tangible assets
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Plant and machinery
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Fixtures, fittings and equipment
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Total
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£
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£
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£
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Cost
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At 1 July 2018
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6,264
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6,201
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12,465
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Additions
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-
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379
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379
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_______
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_______
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_______
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At 30 June 2019
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6,264
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6,580
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12,844
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_______
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_______
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Depreciation
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At 1 July 2018
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3,499
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3,229
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6,728
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Charge for the year
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743
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786
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1,529
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_______
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At 30 June 2019
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4,242
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4,015
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8,257
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_______
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_______
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_______
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Carrying amount
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At 30 June 2019
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2,022
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2,565
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4,587
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_______
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_______
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_______
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At 30 June 2018
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2,765
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2,972
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5,737
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_______
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_______
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_______
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7.
Debtors
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2019
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2018
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£
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£
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Trade debtors
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36,216
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7,242
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Work in progress
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10,120
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-
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CIS receivable
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153,164
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101,660
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VAT receivable
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1,464
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1,414
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_______
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_______
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200,964
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110,316
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_______
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_______
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8.
Creditors: amounts falling due within one year
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2019
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2018
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£
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£
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Corporation tax
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24,678
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25,040
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Social security and other taxes
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113,198
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59,116
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Director loan accounts
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13,995
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19,769
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Accruals and deferred income
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(-)
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236
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_______
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_______
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151,871
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104,161
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_______
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_______
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9.
Related party transactions
Mr Matthew Cartwright
and Mr Paul Barlow are related parties by virtue of their directorship of and shareholding in the company.The following transactions took place during the year between Matthew Cartwright and the company:Amounts due to the related party as at 1 July 2018 : £13,008Payments to related party : (£53,154)Amounts received from related party : £46,033Amounts due to the related party as at 30 June 2019 : £5,887The following transactions took place during the year between Paul Barlow and the company:Amounts due to the related party as at 1 July 2018 : £6,761Payments to related party : (£44,686)Amounts received from related party : £46,033Amounts due to the related party as at 30 June 2019 : £8,108
10.
Controlling party
Mr Matthew Cartwright and Mr Paul Barlow are the ultimate controlling parties by virtue of their directorship of and shareholding in the company.