Nick Brown Architects Limited Filleted accounts for Companies House (small and micro)

Nick Brown Architects Limited Filleted accounts for Companies House (small and micro)

NICK BROWN ARCHITECTS LTD - Company Information

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COMPANY REGISTRATION NUMBER: 07841456
NICK BROWN ARCHITECTS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
29 November 2020
NICK BROWN ARCHITECTS LIMITED
STATEMENT OF FINANCIAL POSITION
29 November 2020
2020
2019
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
10,289
11,721
CURRENT ASSETS
Debtors
6
225,416
168,216
Cash at bank and in hand
41,602
16,169
---------
---------
267,018
184,385
CREDITORS: amounts falling due within one year
7
( 224,174)
( 179,124)
---------
---------
NET CURRENT ASSETS
42,844
5,261
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
53,133
16,982
CREDITORS: amounts falling due after more than one year
8
( 50,000)
–
PROVISIONS
( 1,955)
( 2,227)
--------
--------
NET ASSETS
1,178
14,755
--------
--------
CAPITAL AND RESERVES
Called up share capital
300
300
Profit and loss account
878
14,455
-------
--------
SHAREHOLDERS FUNDS
1,178
14,755
-------
--------
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 29 November 2020 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 .
NICK BROWN ARCHITECTS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
29 November 2020
These financial statements were approved by the board of directors and authorised for issue on 26 August 2021 , and are signed on behalf of the board by:
N Brown
M R Cook
Director
Director
Company registration number: 07841456
NICK BROWN ARCHITECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 29 NOVEMBER 2020
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Floor 3, Calls Landing, 36-38 The Calls, Leeds, LS2 7EW.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
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.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of services supplied, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Income tax
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.
Tangible assets
Tangible assets are initially recorded at cost, and 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:
Plant and machinery
-
25% reducing balance
Computer equipment
-
33% straight line
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.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
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.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 9 (2019: 9 ).
5. TANGIBLE ASSETS
Plant and machinery
Computer Equipment
Total
£
£
£
Cost
At 30 November 2019
32,888
–
32,888
Additions
–
2,236
2,236
--------
-------
--------
At 29 November 2020
32,888
2,236
35,124
--------
-------
--------
Depreciation
At 30 November 2019
21,167
–
21,167
Charge for the year
2,930
738
3,668
--------
-------
--------
At 29 November 2020
24,097
738
24,835
--------
-------
--------
Carrying amount
At 29 November 2020
8,791
1,498
10,289
--------
-------
--------
At 29 November 2019
11,721
–
11,721
--------
-------
--------
6. DEBTORS
2020
2019
£
£
Trade debtors
173,379
85,472
Other debtors
52,037
82,744
---------
---------
225,416
168,216
---------
---------
7. CREDITORS: amounts falling due within one year
2020
2019
£
£
Trade creditors
61,461
75,221
Corporation tax
38,440
29,949
Social security and other taxes
99,531
49,899
Amounts due to related companies
17,571
17,571
Other creditors
7,171
6,484
---------
---------
224,174
179,124
---------
---------
8. CREDITORS: amounts falling due after more than one year
2020
2019
£
£
Bank loans and overdrafts
50,000
–
--------
----