Company registration number 02802936 (England and Wales)
JOHN MCASLAN & PARTNERS LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022
JOHN MCASLAN & PARTNERS LIMITED
COMPANY INFORMATION
Director
J McAslan CBE
Company number
02802936
Registered office
82 St John Street
London
EC1M 4JN
Accountants
Beavis Morgan LLP
82 St John Street
London
EC1M 4JN
Bankers
Barclays Bank Plc
16/18 St Peter's Street
St Albans
Herts
AL3 4DZ
Bank of Scotland plc
33 Old Broad Street
London
EC2N 1HZ
JOHN MCASLAN & PARTNERS LIMITED
CONTENTS
Page
Chair Statement
1
Director's report
2
Accountants' report
3
Profit and loss account
4
Balance sheet
5 - 6
Statement of changes in equity
7
Notes to the financial statements
8 - 16
JOHN MCASLAN & PARTNERS LIMITED
CHAIR STATEMENT
FOR THE YEAR ENDED 31 OCTOBER 2022
- 1 -
I am pleased to report on our performance for the year ended 31 October 2022 and associated developments in our business.
John McAslan + Partners is one of the UK’s most celebrated architectural practices, with some 200 international design awards since its foundation in the mid 1990’s. These include Queen’s Awards for Enterprise in International Trade in 2014 and 2022, 30 RIBA Awards, numerous Civic Trust and BCIA Awards, and three coveted Nostra Awards – Europe’s leading prize for Cultural Heritage.
The JMP brand is known for its design excellence, its commitment to education and interdisciplinary collaborations and its ethos to addressing pressing societal issues, such as homelessness. The business is led by a dedicated team who have worked together over an extended period across the practice’s portfolio of cultural, education, transport, mixed use and landscape projects.
In the year to Oct 2022 we have faced, significant challenges, in the main dealing with the consequences of the Russian invasion of Ukraine, the resulting cessation of all JMP projects in Russia, as well as the challenges of recovering monies owed (pre-invasion) from clients in Russia due to the sanctions imposed by the international community. As a result of the invasion approximately 50% of projected turnover for 2021/2022 was lost. As an agile business, we have been able to deal with these challenges reasonably well, finding new pipelines of work, expanding into new sectors and markets, retaining our staff and implementing new technologies for different methods of remote and hybrid working, which has brought significant benefits to our international portfolio of projects.
Despite this year’s financial loss, having come through these difficulties robustly and successfully reflects the strength and resilience of the practice. The outlook for the forthcoming year is promising with exciting new commissions secured both in the UK and internationally, and we forecast a return to profitability.
Following the completion of major projects within the group in 2022, including the multi award-winning Burrell Collection in Glasgow, the British Museum’s new Archaeological Research Centre at the University of Reading, Central Station in Sydney and Crossrail’s Bond Street Station, the practice looks forward to 2023, when we will continue to implement our succession plans, in the context of a remarkable portfolio of projects including, the completion of Waterloo Station in Sydney, progress on site at Grand Central Station in Belfast, along with the continuing site development of the Global Learning Centre at Oxford University and significant new cultural projects in the Middle East.
The current financial year has started strongly with new commissions in the UK and internationally with the result that we will to return to a profit making business in 2023.
John McAslan CBE
Chair
10 November 2023
JOHN MCASLAN & PARTNERS LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 OCTOBER 2022
- 2 -
The director presents his report and audited financial statements for the year ended 31 October 2022.
Principal activities
The principal activity of the company continues to be that of a successful, international architectural practice delivering architectural, master planning, landscape and heritage consultancy services across multiple sectors. Expertise ranges from large scale infrastructure projects through to complex and technically challenging cultural and educational projects; many requiring adaptive re-use of existing buildings.
Director
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
J McAslan CBE
N A Manzaroli
(Resigned 30 September 2022)
A Potter
(Resigned 25 January 2023)
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
J McAslan CBE
Director
10 November 2023
JOHN MCASLAN & PARTNERS LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF JOHN MCASLAN & PARTNERS LIMITED FOR THE YEAR ENDED 31 OCTOBER 2022
- 3 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of John McAslan & Partners Limited for the year ended 31 October 2022 set out on pages 4 to 16 from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of John McAslan & Partners Limited, as a body, in accordance with the terms of our engagement letter dated 10 February 2021. Our work has been undertaken solely to prepare for your approval the financial statements of John McAslan & Partners Limited and state those matters that we have agreed to state to the board of directors of John McAslan & Partners Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than John McAslan & Partners Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that John McAslan & Partners Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of John McAslan & Partners Limited. You consider that John McAslan & Partners Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of John McAslan & Partners Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Beavis Morgan LLP
10 November 2023
Accountants, Business and Tax Advisers
82 St John Street
London
EC1M 4JN
JOHN MCASLAN & PARTNERS LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 OCTOBER 2022
- 4 -
2022
2021
Notes
£
£
Turnover
4,465,337
4,551,079
Cost of sales
(2,304,804)
(1,879,977)
Gross profit
2,160,533
2,671,102
Administrative expenses
(3,330,472)
(3,484,392)
Other operating income
87,500
161,457
Exceptional items
3
(217,344)
Operating loss
(1,299,783)
(651,833)
Interest receivable and similar income
19
2
Interest payable and similar expenses
(39,876)
(42,043)
Loss before taxation
(1,339,640)
(693,874)
Tax on loss
427,270
309,832
Loss for the financial year
(912,370)
(384,042)
JOHN MCASLAN & PARTNERS LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2022
31 October 2022
- 5 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
5
85,195
146,175
Investments
6
4,400
4,400
89,595
150,575
Current assets
Debtors
7
3,996,529
3,489,903
Cash at bank and in hand
19,718
334,728
4,016,247
3,824,631
Creditors: amounts falling due within one year
8
(2,714,223)
(1,822,285)
Net current assets
1,302,024
2,002,346
Total assets less current liabilities
1,391,619
2,152,921
Creditors: amounts falling due after more than one year
9
(74,637)
(65,913)
Provisions for liabilities
10
(446,507)
(304,163)
Net assets
870,475
1,782,845
Capital and reserves
Called up share capital
5,000
5,000
Capital redemption reserve
5,000
5,000
Profit and loss reserves
860,475
1,772,845
Total equity
870,475
1,782,845
For the financial year ended 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
JOHN MCASLAN & PARTNERS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2022
31 October 2022
- 6 -
The financial statements were approved by the board of directors and authorised for issue on 10 November 2023 and are signed on its behalf by:
J McAslan CBE
Director
Company Registration No. 02802936
JOHN MCASLAN & PARTNERS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2022
- 7 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 November 2020
5,000
5,000
3,156,887
3,166,887
Year ended 31 October 2021:
Loss and total comprehensive income for the year
-
-
(384,042)
(384,042)
Dividends
-
-
(1,000,000)
(1,000,000)
Balance at 31 October 2021
5,000
5,000
1,772,845
1,782,845
Year ended 31 October 2022:
Loss and total comprehensive income for the year
-
-
(912,370)
(912,370)
Balance at 31 October 2022
5,000
5,000
860,475
870,475
JOHN MCASLAN & PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022
- 8 -
1
Accounting policies
Company information
John McAslan & Partners Limited is a private company limited by shares incorporated in England and Wales. The registered office is 82 St John Street, London, EC1M 4JN.
The principal place of business is 7-9 William Road, London, NW1 3ER.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Going concern
As at the balance sheet date, the company had net assets of true£0.4m (2021: £1.78m), including £0.02m (2021: £0.3m) of cash at bank, which the directors believe will enable the company to meet its financial obligations and working capital requirements for the ensuing accounting period. Moreover, the directors expect the company to continue benefitting from the restructuring of the cost base in the foreseeable future.
Uncertain trading difficulties in overseas operations have increased exposure to certain risks in relation to ongoing and future projects. The Directors continue to monitor and track turnover predications carefully and have taken action where necessary to limit risk exposure. The directors are satisfied that the company is in a sound position to move forward through 2023 and into 2024 and is expected to return to profitability in 2023.
Accordingly, the directors consider it appropriate to prepare the accounts on a going concern basis.
1.3
Turnover
Turnover represents amounts receivable for architectural services net of VAT. Income is recognised when revenue of a project can be estimated reliably by reference to the stage of completion of the transaction at the end of the reporting date. This exercise is performed on all ongoing projects at the end of the reporting date.
In the instance of a loss making project whereby contract costs exceeds project revenue. The expected loss is recognised as an expense immediately.
JOHN MCASLAN & PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2022
1
Accounting policies
(Continued)
- 9 -
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Improvement to short leasehold premises
over the period of lease
Computer equipment
50% on net book value
Furniture and equipment
25% on net book value
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and bank overdrafts. When applicable, bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors, cash at bank and in hand, and amounts advanced to fellow group members are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
JOHN MCASLAN & PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2022
1
Accounting policies
(Continued)
- 10 -
Impairment of financial assets
Financial assets are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Classification of financial liabilities
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 company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, obligations under finance leases, and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
JOHN MCASLAN & PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2022
1
Accounting policies
(Continued)
- 11 -
Deferred tax
Deferred taxation is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to apply when they crystallise based on current tax rates and legislation. Timing differences arise from the inclusion of items of income and expenditure in the taxation computation in periods different from those in which they are included in the accounts.
Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be recovered. On the grounds of immateriality deferred tax assets and liabilities are not discounted.
1.10
Provisions
Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
1.11
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s 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.
1.12
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.13
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
JOHN MCASLAN & PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2022
1
Accounting policies
(Continued)
- 12 -
1.14
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
1.15
Foreign exchange
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to the profit and loss account.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. These would be in respect of depreciation, provision for bad debts, appraisal of work in progress, accruals of subcontracts and provisions.
3
Exceptional item
2022
2021
£
£
Expenditure
Dilapidations
217,344
-
Exceptional item relates to the increase of the dilapidations provision.
4
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
49
48
JOHN MCASLAN & PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2022
- 13 -
5
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 November 2021
200,920
705,878
906,798
Additions
31,860
31,860
Disposals
(7,736)
(7,736)
At 31 October 2022
200,920
730,002
930,922
Depreciation and impairment
At 1 November 2021
141,266
619,357
760,623
Depreciation charged in the year
42,109
45,649
87,758
Eliminated in respect of disposals
(2,654)
(2,654)
At 31 October 2022
183,375
662,352
845,727
Carrying amount
At 31 October 2022
17,545
67,650
85,195
At 31 October 2021
59,654
86,521
146,175
6
Fixed asset investments
2022
2021
£
£
Investments
4,400
4,400
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 November 2021 & 31 October 2022
4,400
Carrying amount
At 31 October 2022
4,400
At 31 October 2021
4,400
JOHN MCASLAN & PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2022
- 14 -
7
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
1,834,896
1,070,495
Corporation tax recoverable
737,102
309,832
Amounts due from group undertakings
261,743
1,068,927
Other debtors
1,162,788
1,040,649
3,996,529
3,489,903
Included within other debtors is £303,945 (2021: £177,073) of accrued income as part of accounting for long term contracts.
8
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loan
38,333
10,000
Trade creditors
1,160,233
1,189,244
Amounts owed to group undertakings
189,690
129,197
Taxation and social security
215,520
60,671
Other creditors
1,110,447
433,173
2,714,223
1,822,285
9
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loan
38,333
Other creditors
74,637
27,580
74,637
65,913
10
Provisions for liabilities
2022
2021
£
£
Professional indemnity claims
125,000
200,000
Dilapidations
300,000
82,656
425,000
282,656
Deferred tax liabilities
21,507
21,507
446,507
304,163
JOHN MCASLAN & PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2022
10
Provisions for liabilities
(Continued)
- 15 -
Movements on provisions:
Professional indemnity claims
Dilapidations
Total
£
£
£
At 1 November 2021
200,000
82,656
282,656
Additional provisions in the year
-
217,344
217,344
Reversal of provision
(75,000)
-
(75,000)
At 31 October 2022
125,000
300,000
425,000
Professional indemnity claims were reversed during the year on the basis they were judged to not be probable.
11
Financial commitments, guarantees and contingent liabilities
The parent company's bankers hold certain guarantees and debentures to secure the banking facilities of the group. This is in regards of an interest rate swap agreement held by the parent company that terminates on 6 February 2023. To this effect, a limited guarantee of £1,000,000 (2021: £1,000,000) given by the company existed at the balance sheet date.
A guarantee has been given by John McAslan & Partners Limited over the interest rate swap in the parent company. The guarantee is limited to £3,000,000 (2021: £3,000,000).
There is a cross guarantee and debenture between the group members.
Barclays Bank Plc holds a fixed and floating charge over all assets of John McAslan & Partners Limited and the parent company, Caledonia Limited. The charges are held as security over all amounts owed to Barclays Bank Plc. The amounts owed by the parent company to Barclays Bank Plc at year end were £38,333 (2021: £48,333).
12
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2022
2021
£
£
200,115
689,557
JOHN MCASLAN & PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2022
- 16 -
13
Related party transactions
The company has taken advantage of the exemption available in FRS 102 "Related party disclosures" and has not disclosed transactions with the parent company or other group members.
At the balance sheet date, an aggregated balance of £53,488 (2021: £926,846) was owed from the parent company and other group members. A balance of £18,565 (2021: £12,884) was also owed from John McAslan Architecture NY D.P.C, a company controlled by J McAslan CBE.
At the balance sheet date the company owed the following amounts to directors, which are included in creditors: J McAslan CBE £5,917 (2021: £3,405), A Potter £95 (2021: £139) and N Manzaroli £nil (2021: £1,100).
14
Control
The immediate and ultimate parent company is Caledonia Limited, a company registered in England and Wales.
The ultimate controlling party is John McAslan CBE.
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