PRC Architecture & Planning Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02844543 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2021

FOR

PRC ARCHITECTURE & PLANNING LTD

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

DIRECTORS:

S G Crawford

H M Dhorajiwala

M Evans

C Lane

J Roe

SECRETARY:

C I Lockhart

REGISTERED OFFICE:

24 Church Street West

Woking

Surrey

GU21 6HT

REGISTERED NUMBER:

02844543 (England and Wales)

ACCOUNTANTS:

Johnsons, Chartered Accountants

1-2 Craven Road

Ealing

London

W5 2UA

FIXED ASSETS

Intangible assets

4

25,638

31,368

Tangible assets

5

261,863

245,226

Investments

6

75,767

100,510

363,268

377,104

CURRENT ASSETS

Debtors

7

1,415,986

1,927,400

Cash at bank

521,995

777,201

1,937,981

2,704,601

CREDITORS

Amounts falling due within one year

8

(784,102

)

(815,554

)

NET CURRENT ASSETS

1,153,879

1,889,047

TOTAL ASSETS LESS CURRENT LIABILITIES

1,517,147

2,266,151

CAPITAL AND RESERVES

Called up share capital

9

25

73

Capital redemption reserve

10

48

-

Retained earnings

10

1,517,074

2,266,078

SHAREHOLDERS' FUNDS

1,517,147

2,266,151

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 25th May 2022 and were signed on its behalf by:

S G Crawford - Director

1.	STATUTORY INFORMATION

PRC Architecture & Planning Ltd 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 as modified by the revaluation of certain assets.

PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS

The financial statements contain information about PRC Architecture & Planning Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

TURNOVER

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

GOODWILL

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

INTANGIBLE ASSETS OTHER THAN GOODWILL

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

Website development - 20% reducing balance

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold improvements - 15% reducing balance

Plant & machinery - 25% reducing balance

Fixtures and fittings - 15% reducing balance

Motor Vehicles - 25% 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.

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.

HIRE PURCHASE AND LEASING COMMITMENTS

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

Operating leases are charged to profit and loss account on straight line basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2020 - 33 ) .

4.	INTANGIBLE FIXED ASSETS

Development

Goodwill

costs

Totals

£

£

£

COST

At 1st September 2020

and 31st August 2021

50,000

49,476

99,476

AMORTISATION

At 1st September 2020

50,000

18,108

68,108

Amortisation for year

-

5,730

5,730

At 31st August 2021

50,000

23,838

73,838

NET BOOK VALUE

At 31st August 2021

-

25,638

25,638

At 31st August 2020

-

31,368

31,368

5.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

Totals

£

£

£

£

COST

At 1st September 2020

175,151

339,218

96,796

611,165

Additions

-

103,395

-

103,395

Disposals

-

(66,254

)

(20,818

)

(87,072

)

At 31st August 2021

175,151

376,359

75,978

627,488

DEPRECIATION

At 1st September 2020

106,464

206,491

52,984

365,939

Charge for year

9,624

45,533

5,775

60,932

Eliminated on disposal

-

(49,733

)

(11,513

)

(61,246

)

At 31st August 2021

116,088

202,291

47,246

365,625

NET BOOK VALUE

At 31st August 2021

59,063

174,068

28,732

261,863

At 31st August 2020

68,687

132,727

43,812

245,226

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1st September 2020

100,510

Revaluations

(24,743

)

At 31st August 2021

75,767

NET BOOK VALUE

At 31st August 2021

75,767

At 31st August 2020

100,510

Cost or valuation at 31st August 2021 is represented by:

Other

investments

£

Valuation in 2021

(24,743

)

Cost

100,510

75,767

The company's investments at the Balance sheet date in the share capital of companies include the following:

L D A (Architects) Limited

Registered office: 24 Church Street West, Woking, Surrey, England, GU21 6HT

Nature of business: Architectural activities

%

Class of shares:

holding

Ordinary shares

100.00

30.6.21

30.6.20

£

£

Aggregate capital and reserves

75,767

134,819

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

1,151,719

901,159

Other debtors

793

760,442

Advance tax - s455

7,363

7,363

Directors' current accounts

-

22,656

Deferred tax asset

109,826

106,078

Prepayments and accrued income

146,285

129,702

1,415,986

1,927,400

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

133,081

89,720

Amounts owed to group undertakings

40,000

80,000

Social security and other taxes

153,039

138,695

VAT

265,640

322,784

Other creditors

183,437

178,685

Accruals and deferred income

8,905

5,670

784,102

815,554

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

73

Ordinary shares

£1

-

73

2,500

Ordinary shares

£0.01

25

-

25

73

During the year, the company sub-divided its shares on a 100 to 1 basis, the company subsequently bought back 4800 shares. As a result, the ordinary share capital has reduced to £25 (2020: £73).

10.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1st September 2020

2,266,078

-

2,266,078

Profit for the year

996

996

Purchase of own shares

(750,000

)

48

(749,952

)

At 31st August 2021

1,517,074

48

1,517,122

11.	RELATED PARTY DISCLOSURES

During the year the company bought back 4,175 shares from Peter Rutter for £750,000. The company setlled this by assignment of the Quarterhill Homes Limited loan receivables with a carrying value of £750,000.

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is PRC Architecture LTD.

The parent company PRC Architecture LTD holds 100% of the shares in the company.