Project 3 Architects Limited 08021795 false 2022-05-01 2023-04-30 2023-04-30 The principal activity of the company is the provision of architectural services. Digita Accounts Production Advanced 6.30.9574.0 true true 08021795 2022-05-01 2023-04-30 08021795 2023-04-30 08021795 core:CurrentFinancialInstruments 2023-04-30 08021795 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 08021795 core:Non-currentFinancialInstruments 2023-04-30 08021795 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 08021795 core:OtherResidualIntangibleAssets 2023-04-30 08021795 core:FurnitureFittingsToolsEquipment 2023-04-30 08021795 bus:SmallEntities 2022-05-01 2023-04-30 08021795 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 08021795 bus:FullAccounts 2022-05-01 2023-04-30 08021795 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 08021795 bus:RegisteredOffice 2022-05-01 2023-04-30 08021795 bus:Director1 2022-05-01 2023-04-30 08021795 bus:Director2 2022-05-01 2023-04-30 08021795 bus:Director3 2022-05-01 2023-04-30 08021795 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 08021795 bus:Agent1 2022-05-01 2023-04-30 08021795 core:ComputerSoftware 2022-05-01 2023-04-30 08021795 core:OtherResidualIntangibleAssets 2022-05-01 2023-04-30 08021795 core:FurnitureFittingsToolsEquipment 2022-05-01 2023-04-30 08021795 core:OfficeEquipment 2022-05-01 2023-04-30 08021795 countries:EnglandWales 2022-05-01 2023-04-30 08021795 2022-04-30 08021795 core:OtherResidualIntangibleAssets 2022-04-30 08021795 core:FurnitureFittingsToolsEquipment 2022-04-30 08021795 2021-05-01 2022-04-30 08021795 2022-04-30 08021795 core:CurrentFinancialInstruments 2022-04-30 08021795 core:CurrentFinancialInstruments core:WithinOneYear 2022-04-30 08021795 core:Non-currentFinancialInstruments 2022-04-30 08021795 core:Non-currentFinancialInstruments core:AfterOneYear 2022-04-30 08021795 core:OtherResidualIntangibleAssets 2022-04-30 08021795 core:FurnitureFittingsToolsEquipment 2022-04-30 iso4217:GBP xbrli:pure

Registration number: 08021795

Project 3 Architects Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2023

 

Project 3 Architects Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

Project 3 Architects Limited

Company Information

Directors

Mr AJ Bamford

Mr CP Smith

Mr RA Evans

Registered office

4 Back Grafton Street
Altrincham
Cheshire
WA14 1DY

Accountants

Phillip Carroll
10 Ambassador Place
Stockport Road
Altrincham
Cheshire
WA15 8DB

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Project 3 Architects Limited
for the Year Ended 30 April 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Project 3 Architects Limited for the year ended 30 April 2023 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Project 3 Architects Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Project 3 Architects Limited and state those matters that we have agreed to state to the Board of Directors of Project 3 Architects Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Project 3 Architects Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Project 3 Architects Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Project 3 Architects Limited. You consider that Project 3 Architects 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 accounts of Project 3 Architects 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 accounts.

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


Phillip Carroll
10 Ambassador Place
Stockport Road
Altrincham
Cheshire
WA15 8DB

24 November 2023

 

Project 3 Architects Limited

(Registration number: 08021795)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

5

28,209

33,520

Tangible assets

6

2,174

5,600

 

30,383

39,120

Current assets

 

Debtors

7

73,036

86,208

Cash at bank and in hand

 

22,842

118,971

 

95,878

205,179

Creditors: Amounts falling due within one year

8

(78,316)

(77,290)

Net current assets

 

17,562

127,889

Total assets less current liabilities

 

47,945

167,009

Creditors: Amounts falling due after more than one year

8

(21,490)

(32,363)

Provisions for liabilities

(413)

(979)

Net assets

 

26,042

133,667

Capital and reserves

 

Called up share capital

3

3

Retained earnings

26,039

133,664

Shareholders' funds

 

26,042

133,667

For the financial year ending 30 April 2023 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 November 2023 and signed on its behalf by:
 

 

Project 3 Architects Limited

(Registration number: 08021795)
Balance Sheet as at 30 April 2023

.........................................
Mr AJ Bamford
Director

.........................................
Mr CP Smith
Director

.........................................
Mr RA Evans
Director

 

Project 3 Architects Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

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:
4 Back Grafton Street
Altrincham
Cheshire
WA14 1DY

These financial statements were authorised for issue by the Board on 24 November 2023.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

Government grants

Government grants are accounted for using the performance model.

Tax

The tax expense for the period comprises current and deferred 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.

 

Project 3 Architects Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Fixtures and fittings

25% Straight line basis

Office equipment

25% Straight line basis

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Computer software

33.33% / 10% Straight line basis

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 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.

 

Project 3 Architects Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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 10 (2022 - 11).

 

Project 3 Architects Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

3,602

7,500

Amortisation expense

5,311

5,464

5

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 May 2022

58,481

58,481

At 30 April 2023

58,481

58,481

Amortisation

At 1 May 2022

24,961

24,961

Amortisation charge

5,311

5,311

At 30 April 2023

30,272

30,272

Carrying amount

At 30 April 2023

28,209

28,209

At 30 April 2022

33,520

33,520

 

Project 3 Architects Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

6

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2022

52,084

52,084

Additions

623

623

Disposals

(446)

(446)

At 30 April 2023

52,261

52,261

Depreciation

At 1 May 2022

46,485

46,485

Charge for the year

3,602

3,602

At 30 April 2023

50,087

50,087

Carrying amount

At 30 April 2023

2,174

2,174

At 30 April 2022

5,600

5,600

7

Debtors

2023
£

2022
£

Trade debtors

70,085

78,811

Prepayments

1,751

6,197

Other debtors

1,200

1,200

73,036

86,208

 

Project 3 Architects Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

9,344

9,464

Trade creditors

 

2,420

-

Taxation and social security

 

59,844

56,674

Accruals and deferred income

 

4,866

9,907

Other creditors

 

1,842

1,245

 

78,316

77,290

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

21,490

32,363

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

21,490

32,363

2023
£

2022
£

Current loans and borrowings

Bank borrowings

9,344

9,464