Registered number
05765801
Weaver Khan Architects Ltd
Unaudited Filleted Accounts
31 March 2023
Weaver Khan Architects Ltd
Registered number: 05765801
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 679 659
Current assets
Stocks 1,048 1,500
Debtors 4 8,010 5,417
Cash at bank and in hand 149,269 162,757
158,327 169,674
Creditors: amounts falling due within one year 5 (27,784) (36,325)
Net current assets 130,543 133,349
Total assets less current liabilities 131,222 134,008
Provisions for liabilities (120) (114)
Net assets 131,102 133,894
Capital and reserves
Called up share capital 550 550
Capital redemption reserve 6 500 500
Profit and loss account 130,052 132,844
Shareholders' funds 131,102 133,894
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr C Weaver
Director
Approved by the board on 28 September 2023
Weaver Khan Architects Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
0 Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons including directors employed by the 1 1
company
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 7,589
Additions 247
At 31 March 2023 7,836
Depreciation
At 1 April 2022 6,930
Charge for the year 227
At 31 March 2023 7,157
Net book value
At 31 March 2023 679
At 31 March 2022 659
4 Debtors 2023 2022
£ £
Trade debtors 6,004 4,604
Other debtors 2,006 813
8,010 5,417
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 2,008 2,064
Taxes and social security costs 13,810 22,669
Other creditors 11,966 11,592
27,784 36,325
6 Capital Redemption reserve 2023 2022
£ £
At 1 April 2022 500 500
At 31 March 2023 500 500
7 Related party transactions
Dividends of £31300 were paid to the director.
8 Controlling party
The company is under the control of the Director.
9 Other information
Weaver Khan Architects Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Old Council Chamber
The Corn Exchange
Faringdon
Oxon
SN7 7HG
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