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Registration number: 02060803

Cambridge Architectural Research Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

Cambridge Architectural Research Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Cambridge Architectural Research Limited

Company Information

Directors

Dr Emily Kwok Mei So

Dr Hannah Elizabeth Baker

Mrs Janet Ruth Owers

Dr Jason Marcus Palmer

Mr Tyrone Bowen

Dr Stephen Platt

Dr Helen Clare Mulligan

Dr William Hugh Fawcett

Prof Robert John Summerford Spence

Mr Luca Paolo Leone

Mr Philip Anthony Cooper

Mr Francesco Pellisari

Ms Laura Montanini

Company secretary

Dr William Hugh Fawcett

Registered office

25 Gwydir Street
Cambridge
Cambs
CB1 2LG

Accountants

Websters Cambridge Limited
10 Wellington Street
Cambridge
Cambridgeshire
CB1 1HW

 

Cambridge Architectural Research Limited

(Registration number: 02060803)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

4,634

6,076

Current assets

 

Debtors

5

93,902

181,906

Cash at bank and in hand

 

250,234

367,444

 

344,136

549,350

Creditors: Amounts falling due within one year

6

(241,229)

(389,674)

Net current assets

 

102,907

159,676

Total assets less current liabilities

 

107,541

165,752

Creditors: Amounts falling due after more than one year

6

-

(50,000)

Net assets

 

107,541

115,752

Capital and reserves

 

Called up share capital

7

454

454

Share premium reserve

34,796

34,096

Profit and loss account

72,291

81,202

Shareholders' funds

 

107,541

115,752

For the financial year ending 31 December 2021 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 22 August 2022 and signed on its behalf by:
 

.........................................

 

Cambridge Architectural Research Limited

(Registration number: 02060803)
Balance Sheet as at 31 December 2021

.........................................
Dr William Hugh Fawcett
Company secretary and director

 

Cambridge Architectural Research Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
25 Gwydir Street
Cambridge
Cambs
CB1 2LG

These financial statements were authorised for issue by the Board on 22 August 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Exemption from preparing group accounts

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Cambridge Architectural Research Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Cambridge Architectural Research Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2020 - 8).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2021

15,090

255,072

270,162

Additions

-

691

691

At 31 December 2021

15,090

255,763

270,853

Depreciation

At 1 January 2021

15,090

249,586

264,676

Charge for the year

-

1,543

1,543

At 31 December 2021

15,090

251,129

266,219

Carrying amount

At 31 December 2021

-

4,634

4,634

At 31 December 2020

590

5,486

6,076

Included within the net book value of land and buildings above is £Nil (2020 - £590) in respect of short leasehold land and buildings.
 

 

Cambridge Architectural Research Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

5

Debtors

2021
£

2020
£

Trade debtors

83,254

178,303

Prepayments

10,648

-

Other debtors

-

3,603

93,902

181,906

 

Cambridge Architectural Research Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

6

Creditors

Creditors: amounts falling due within one year

2021
£

2020
£

Due within one year

Trade creditors

8,686

6,228

Taxation and social security

19,068

34,599

Accruals and deferred income

27,469

47,521

Other creditors

186,006

301,326

241,229

389,674

Creditors: amounts falling due after more than one year

Note

2021
£

2020
£

Due after one year

 

Loans and borrowings

8

-

50,000

7

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary shares of £1 each of £1 each

454

454

454

454

         

8

Loans and borrowings

2021
£

2020
£

Non-current loans and borrowings

Bank borrowings

-

50,000

 

Cambridge Architectural Research Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

9

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2021
£

2020
£

Remuneration

22,600

22,200