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LMA ARCHITECTS LIMITED

Registered Number
08370984
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

LMA ARCHITECTS LIMITED
Company Information
for the year from 1 March 2022 to 28 February 2023

Director

DILAWERSHAH, Simon Nicholas

Registered Address

The Focus Building Studio 3
1 Crimea Road
Bournemouth
BH9 1AP

Registered Number

08370984 (England and Wales)
LMA ARCHITECTS LIMITED
Balance Sheet as at
28 February 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets67,5951,733
Tangible assets76,3069,293
13,90111,026
Current assets
Debtors10149,517238,592
Cash at bank and on hand15,77850,988
165,295289,580
Creditors amounts falling due within one year11(50,673)(72,236)
Net current assets (liabilities)114,622217,344
Total assets less current liabilities128,523228,370
Creditors amounts falling due after one year12(37,619)(39,784)
Provisions for liabilities13(568)(1,166)
Net assets90,336187,420
Capital and reserves
Called up share capital1010
Profit and loss account90,326187,410
Shareholders' funds90,336187,420
The financial statements were approved and authorised for issue by the Director on 31 October 2023, and are signed on its behalf by:
DILAWERSHAH, Simon Nicholas
Director
Registered Company No. 08370984
LMA ARCHITECTS LIMITED
Notes to the Financial Statements
for the year ended 28 February 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company continued to be that of architectural activities.
4.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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 goods supplied and services rendered.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Fixtures and fittings25
Office Equipment25
Intangible assets policy
Intangible fixed assets are stated at cost or valuation less amortisation. Amortisation on leasehold improvements is recognised so as to write off the cost or valuation of the assets over their useful lives being over the term of the lease.
Revenue recognition policy
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only the the extent of the expenses recognised that it is probable will be recovered.
Taxation policy
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 policy
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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leases policy
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased assets are consumed.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate. The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Valuation of financial instruments policy
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transactions, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
5.Employee information

20232022
Average number of employees during the year56
6.Intangible assets

Other

Total

££
Cost or valuation
At 01 March 225,2005,200
Additions9,1089,108
Disposals(5,200)(5,200)
At 28 February 239,1089,108
Amortisation and impairment
At 01 March 223,4673,467
Charge for year1,5131,513
On disposals(3,467)(3,467)
At 28 February 231,5131,513
Net book value
At 28 February 237,5957,595
At 28 February 221,7331,733
7.Property, plant and equipment

Office Equipment

Total

££
Cost or valuation
At 01 March 2221,69521,695
At 28 February 2321,69521,695
Depreciation and impairment
At 01 March 2212,40212,402
Charge for year2,9872,987
At 28 February 2315,38915,389
Net book value
At 28 February 236,3066,306
At 28 February 229,2939,293
8.Creditors or instalments due after 5 years
Aggregate of instalments which fall due for payment after 5 years is £18,402 (2022: £23,535).
9.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
DILAWERSHAH, Simon Nicholas32,51402,09930,415
32,51402,09930,415
£650 (2022: £946) of interest was charged on the overdrawn balance.
10.Debtors

2023

2022

££
Trade debtors / trade receivables47,790101,466
Other debtors89,345124,748
Prepayments and accrued income12,38212,378
Total149,517238,592
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.
11.Creditors within one year

2023

2022

££
Trade creditors / trade payables10,70413,539
Bank borrowings and overdrafts4,2876,219
Taxation and social security33,46149,253
Other creditors422578
Accrued liabilities and deferred income1,7992,647
Total50,67372,236
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.
12.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts37,61939,784
Total37,61939,784
13.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)5681,166
Total5681,166