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COMPANY REGISTRATION NUMBER: 09006047
CAVE ARCHITECTS LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 September 2018
CAVE ARCHITECTS LTD
STATEMENT OF FINANCIAL POSITION
30 September 2018
2018
2017
Note
£
£
£
£
FIXED ASSETS
Intangible assets
5
10,000
20,000
Tangible assets
6
2
156
---------
---------
10,002
20,156
CURRENT ASSETS
Debtors
7
4,693
7,160
Cash at bank and in hand
8,955
14,661
---------
---------
13,648
21,821
CREDITORS: amounts falling due within one year
8
6,771
14,091
---------
---------
NET CURRENT ASSETS
6,877
7,730
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
16,879
27,886
PROVISIONS
Taxation including deferred tax
9
30
---------
---------
NET ASSETS
16,879
27,856
---------
---------
CAVE ARCHITECTS LTD
STATEMENT OF FINANCIAL POSITION (continued)
30 September 2018
2018
2017
Note
£
£
£
£
CAPITAL AND RESERVES
Called up share capital
11
100
100
Profit and loss account
16,779
27,756
---------
---------
SHAREHOLDERS FUNDS
16,879
27,856
---------
---------
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.
For the year ending 30 September 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 12 November 2018 , and are signed on behalf of the board by:
D A Hemingway
Director
Company registration number: 09006047
CAVE ARCHITECTS LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 SEPTEMBER 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 Equitable House, 55 Pellon Lane, Halifax, West Yorkshire, HX1 5SP.
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.
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. There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Current and deferred 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.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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.
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:
Computer Equipment
-
33% straight line
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 2 (2017: 2 ).
5. INTANGIBLE ASSETS
Goodwill
£
Cost
At 1 October 2017 and 30 September 2018
50,000
---------
Amortisation
At 1 October 2017
30,000
Charge for the year
10,000
---------
At 30 September 2018
40,000
---------
Carrying amount
At 30 September 2018
10,000
---------
At 30 September 2017
20,000
---------
6. TANGIBLE ASSETS
Equipment
Total
£
£
Cost
At 1 October 2017 and 30 September 2018
1,003
1,003
-------
-------
Depreciation
At 1 October 2017
847
847
Charge for the year
154
154
-------
-------
At 30 September 2018
1,001
1,001
-------
-------
Carrying amount
At 30 September 2018
2
2
-------
-------
At 30 September 2017
156
156
-------
-------
7. DEBTORS
2018
2017
£
£
Trade debtors
750
6,360
Other debtors
3,943
800
-------
-------
4,693
7,160
-------
-------
8. CREDITORS: amounts falling due within one year
2018
2017
£
£
Bank loans and overdrafts
1,297
Trade creditors
539
Corporation tax
2,144
5,781
Social security and other taxes
2,377
3,837
Other creditors
953
3,934
-------
---------
6,771
14,091
-------
---------
9. PROVISIONS
Deferred tax (note 10)
£
At 1 October 2017
30
Charge against provision
( 30)
----
At 30 September 2018
----
10. DEFERRED TAX
The deferred tax included in the statement of financial position is as follows:
2018
2017
£
£
Included in provisions (note 9)
30
----
----
The deferred tax account consists of the tax effect of timing differences in respect of:
2018
2017
£
£
Accelerated capital allowances
30
----
----
11. CALLED UP SHARE CAPITAL
Issued, called up and fully paid
2018
2017
No.
£
No.
£
Ordinary "A" shares of £ 1 each
25
25.00
25
25.00
Ordinary "B" shares of £ 1 each
25
25.00
25
25.00
Ordinary "C" shares of £ 1 each
25
25.00
25
25.00
Ordinary "D" shares of £ 1 each
25
25.00
25
25.00
----
---------
----
---------
100
100.00
100
100.00
----
---------
----
---------
The shares rank pari passu except as follows; Dividends if and so long as the ordinary share capital is divided into different classes of shares, the directors may, subject to the provisions of the Act pay interim dividends at variable rates on the different classes of shares, and the company, on the recommendation of the directors may declare dividends at variable rates on the different classes of shares.
12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
During the year Mr D Hemingway had unsecured loans from the company, with advances totalling £11,290. Repayments totalling £10,372 were made during the year. The balance owing to the director as at 30 September 2018 was £3. This balance is repayable on demand. During the year Mr A Bottomley had unsecured loans from the company, with advances totalling £11,407. Repayments totalling £10,364 were made during the year. The balance owing to the company as at 30 September 2018 was £758. This balance is to be repaid after the year end.