Brickpoint (London) Ltd. Filleted accounts for Companies House (small and micro)

BRICKPOINT (LONDON) LTD. - Company Information

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COMPANY REGISTRATION NUMBER: 02956712

Brickpoint (London) Ltd.

Filleted Unaudited Financial Statements

31 January 2018

Brickpoint (London) Ltd.

Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Brickpoint (London) Ltd.

Year ended 31 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 Brickpoint (London) Ltd. for the year ended 31 January 2018, which comprise the 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the Board of Directors of Brickpoint (London) Ltd., as a body, in accordance with the terms of our engagement letter dated 24 October 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Brickpoint (London) Ltd. and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Brickpoint (London) Ltd. and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Brickpoint (London) Ltd. 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 Brickpoint (London) Ltd.. You consider that Brickpoint (London) Ltd. is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Brickpoint (London) Ltd.. 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.

TURPIN BARKER ARMSTRONG Chartered Certified Accountants

Allen House 1 Westmead Road Sutton Surrey SM1 4LA

31 October 2018

Brickpoint (London) Ltd.

Statement of Financial Position

31 January 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible assets	5		37,798	46,786

Current assets

Stocks		5,100	5,100
Debtors	6	48,521	53,490
		--------	--------
		53,621	58,590

Creditors: amounts falling due within one year	7	27,975		46,428
		--------		--------
Net current assets			25,646	12,162
			--------	--------
Total assets less current liabilities			63,444	58,948

Creditors: amounts falling due after more than one year	8	4,445	12,043
		--------	--------
Net assets		58,999	46,905
		--------	--------

Brickpoint (London) Ltd.

Statement of Financial Position (continued)

31 January 2018

	2018		2017
Note	£	£	£

Capital and reserves

Called up share capital	100	100
Profit and loss account	58,899	46,805
	--------	--------
Shareholders funds	58,999	46,905
	--------	--------

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 income statement has not been delivered.

For the year ending 31 January 2018 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 were approved by the board of directors and authorised for issue on 31 October 2018 , and are signed on behalf of the board by:

Mr A J Spooner

Director

Company registration number: 02956712

Brickpoint (London) Ltd.

Notes to the Financial Statements

Year ended 31 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 Allen House, 1 Westmead Road, Sutton, Surrey, SM1 4LA.

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.

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.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 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:

Fixtures and fittings	-	25% reducing balance
Motor vehicle	-	25% straight line

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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2017: 2 ).

5. Tangible assets

	Fixtures and fittings	Motor vehicles	Total
	£	£	£
Cost
At 1 February 2017 and 31 January 2018	15,998	78,945	94,943
	--------	--------	--------
Depreciation
At 1 February 2017	4,310	43,847	48,157
Charge for the year	2,264	6,724	8,988
	--------	--------	--------
At 31 January 2018	6,574	50,571	57,145
	--------	--------	--------
Carrying amount
At 31 January 2018	9,424	28,374	37,798
	--------	--------	--------
At 31 January 2017	11,688	35,098	46,786
	--------	--------	--------

6. Debtors

	2018	2017
	£	£
Trade debtors	–	6,541
Other debtors	48,521	46,949
	--------	--------
	48,521	53,490
	--------	--------

7. Creditors: amounts falling due within one year

	2018	2017
	£	£
Bank loans and overdrafts	290	3,298
Corporation tax	5,617	14
Social security and other taxes	11,305	6,073
Other creditors	10,763	37,043
	--------	--------
	27,975	46,428
	--------	--------

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

	2018	2017
	£	£
Other creditors	4,445	12,043
	-------	--------

9. Directors' advances, credits and guarantees

At no point during the year did advances/credits to the Directors Loan Accounts result in an overdrawn position.