Silverfin false 30/04/2023 01/05/2022 30/04/2023 Mr M A Alker Stone 31/10/2005 Mr P M Bevan 26/04/2004 Mrs K L Brown 01/05/2016 Mr T S Forster 18/12/2020 Mr R B A Francis 25/05/2022 29/04/1999 Mr J D Furse 01/05/2015 Mr C E Jordan 01/05/2016 Mr C J Mitchell 01/01/2023 31/10/2005 Mr N Mulholland 01/05/2010 Mr D Perkin 01/05/2007 Mr I J Sanders 15/07/2022 01/05/2010 28 November 2023 The principal activity of the Company during the financial year was that of an architectural practice, providing architecture, master planning and interior design services. 03489253 2023-04-30 03489253 bus:Director1 2023-04-30 03489253 bus:Director2 2023-04-30 03489253 bus:Director3 2023-04-30 03489253 bus:Director4 2023-04-30 03489253 bus:Director5 2023-04-30 03489253 bus:Director6 2023-04-30 03489253 bus:Director7 2023-04-30 03489253 bus:Director8 2023-04-30 03489253 bus:Director9 2023-04-30 03489253 bus:Director10 2023-04-30 03489253 bus:Director11 2023-04-30 03489253 2022-04-30 03489253 core:CurrentFinancialInstruments 2023-04-30 03489253 core:CurrentFinancialInstruments 2022-04-30 03489253 core:Non-currentFinancialInstruments 2023-04-30 03489253 core:Non-currentFinancialInstruments 2022-04-30 03489253 core:ShareCapital 2023-04-30 03489253 core:ShareCapital 2022-04-30 03489253 core:SharePremium 2023-04-30 03489253 core:SharePremium 2022-04-30 03489253 core:CapitalRedemptionReserve 2023-04-30 03489253 core:CapitalRedemptionReserve 2022-04-30 03489253 core:RetainedEarningsAccumulatedLosses 2023-04-30 03489253 core:RetainedEarningsAccumulatedLosses 2022-04-30 03489253 core:ComputerSoftware 2022-04-30 03489253 core:ComputerSoftware 2023-04-30 03489253 core:LeaseholdImprovements 2022-04-30 03489253 core:Vehicles 2022-04-30 03489253 core:FurnitureFittings 2022-04-30 03489253 core:ComputerEquipment 2022-04-30 03489253 core:LeaseholdImprovements 2023-04-30 03489253 core:Vehicles 2023-04-30 03489253 core:FurnitureFittings 2023-04-30 03489253 core:ComputerEquipment 2023-04-30 03489253 core:CurrentFinancialInstruments core:Secured 2023-04-30 03489253 core:DeferredTaxation 2022-04-30 03489253 core:OtherProvisionsContingentLiabilities 2022-04-30 03489253 core:DeferredTaxation 2023-04-30 03489253 core:OtherProvisionsContingentLiabilities 2023-04-30 03489253 core:AcceleratedTaxDepreciationDeferredTax 2023-04-30 03489253 core:AcceleratedTaxDepreciationDeferredTax 2022-04-30 03489253 core:TaxLossesCarry-forwardsDeferredTax 2023-04-30 03489253 core:TaxLossesCarry-forwardsDeferredTax 2022-04-30 03489253 core:OtherDeferredTax 2023-04-30 03489253 core:OtherDeferredTax 2022-04-30 03489253 bus:OrdinaryShareClass1 2023-04-30 03489253 core:WithinOneYear 2023-04-30 03489253 core:WithinOneYear 2022-04-30 03489253 core:BetweenOneFiveYears 2023-04-30 03489253 core:BetweenOneFiveYears 2022-04-30 03489253 core:MoreThanFiveYears 2023-04-30 03489253 core:MoreThanFiveYears 2022-04-30 03489253 2022-05-01 2023-04-30 03489253 bus:FullAccounts 2022-05-01 2023-04-30 03489253 bus:SmallEntities 2022-05-01 2023-04-30 03489253 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 03489253 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 03489253 bus:Director1 2022-05-01 2023-04-30 03489253 bus:Director2 2022-05-01 2023-04-30 03489253 bus:Director3 2022-05-01 2023-04-30 03489253 bus:Director4 2022-05-01 2023-04-30 03489253 bus:Director5 2022-05-01 2023-04-30 03489253 bus:Director6 2022-05-01 2023-04-30 03489253 bus:Director7 2022-05-01 2023-04-30 03489253 bus:Director8 2022-05-01 2023-04-30 03489253 bus:Director9 2022-05-01 2023-04-30 03489253 bus:Director10 2022-05-01 2023-04-30 03489253 bus:Director11 2022-05-01 2023-04-30 03489253 core:ComputerSoftware core:TopRangeValue 2022-05-01 2023-04-30 03489253 core:OtherResidualIntangibleAssets 2022-05-01 2023-04-30 03489253 core:Vehicles 2022-05-01 2023-04-30 03489253 core:FurnitureFittings 2022-05-01 2023-04-30 03489253 core:ComputerEquipment core:TopRangeValue 2022-05-01 2023-04-30 03489253 2021-05-01 2022-04-30 03489253 core:ComputerSoftware 2022-05-01 2023-04-30 03489253 core:LeaseholdImprovements 2022-05-01 2023-04-30 03489253 core:ComputerEquipment 2022-05-01 2023-04-30 03489253 core:CurrentFinancialInstruments 2022-05-01 2023-04-30 03489253 core:Non-currentFinancialInstruments 2022-05-01 2023-04-30 03489253 core:DeferredTaxation 2022-05-01 2023-04-30 03489253 core:OtherProvisionsContingentLiabilities 2022-05-01 2023-04-30 03489253 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 03489253 bus:OrdinaryShareClass1 2021-05-01 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 03489253 (England and Wales)

ATKINS WALTERS & WEBSTER LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2023
Pages for filing with the registrar

ATKINS WALTERS & WEBSTER LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2023

Contents

ATKINS WALTERS & WEBSTER LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 April 2023
ATKINS WALTERS & WEBSTER LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 April 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 145,379 223,500
Tangible assets 4 320,220 364,980
465,599 588,480
Current assets
Stocks 3,511 4,830
Debtors
- due within one year 5 1,967,749 1,676,198
- due after more than one year 5 43,100 43,100
Cash at bank and in hand 694,628 752,368
2,708,988 2,476,496
Creditors: amounts falling due within one year 6 ( 1,884,016) ( 1,207,988)
Net current assets 824,972 1,268,508
Total assets less current liabilities 1,290,571 1,856,988
Creditors: amounts falling due after more than one year 7 ( 75,860) ( 390,591)
Provision for liabilities 8 ( 130,205) ( 277,940)
Net assets 1,084,506 1,188,457
Capital and reserves
Called-up share capital 9 42,575 48,550
Share premium account 51,890 47,630
Capital redemption reserve 12,925 6,950
Profit and loss account 977,116 1,085,327
Total shareholders' funds 1,084,506 1,188,457

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 financial statements of Atkins Walters & Webster Limited (registered number: 03489253) were approved and authorised for issue by the Director on 28 November 2023. They were signed on its behalf by:

Mrs K L Brown
Director
ATKINS WALTERS & WEBSTER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
ATKINS WALTERS & WEBSTER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Atkins Walters & Webster Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Pivot + Mark, 48 - 52 Baldwin Street, Bristol, BS1 1QB, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software 3 years straight line
Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance or basis over its expected useful life, as follows:

Leasehold improvements depreciated over the life of the lease
Vehicles 25 % reducing balance
Fixtures and fittings 15 % reducing balance
Computer equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) 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 Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 62 72

3. Intangible assets

Computer software Total
£ £
Cost
At 01 May 2022 323,114 323,114
Additions 25,095 25,095
At 30 April 2023 348,209 348,209
Accumulated amortisation
At 01 May 2022 99,614 99,614
Charge for the financial year 103,216 103,216
At 30 April 2023 202,830 202,830
Net book value
At 30 April 2023 145,379 145,379
At 30 April 2022 223,500 223,500

The net book value of intangible fixed assets includes £145,379 (2022 - £223,500) in respect of assets held under finance or other leases.

4. Tangible assets

Leasehold improve-
ments
Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 01 May 2022 445,026 12,857 194,387 398,710 1,050,980
Additions 2,610 0 1,091 58,042 61,743
Disposals ( 2,328) ( 7) ( 7,463) ( 57,328) ( 67,126)
At 30 April 2023 445,308 12,850 188,015 399,424 1,045,597
Accumulated depreciation
At 01 May 2022 204,683 10,671 113,321 357,325 686,000
Charge for the financial year 54,671 539 11,909 37,271 104,390
Disposals ( 2,328) 0 ( 5,357) ( 57,328) ( 65,013)
At 30 April 2023 257,026 11,210 119,873 337,268 725,377
Net book value
At 30 April 2023 188,282 1,640 68,142 62,156 320,220
At 30 April 2022 240,343 2,186 81,066 41,385 364,980

5. Debtors

2023 2022
£ £
Debtors: amounts falling due within one year
Trade debtors 1,507,324 1,164,792
Amounts recoverable on contracts 168,381 133,626
Prepayments 286,176 289,459
Corporation tax 0 86,241
Other debtors 5,868 2,080
1,967,749 1,676,198
Debtors: amounts falling due after more than one year
Other debtors 43,100 43,100

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans (secured) 167,187 102,547
Trade creditors 187,051 144,867
Amounts owed to directors 260,812 12,493
Accruals 433,589 370,187
Taxation and social security 336,697 276,894
Payments received on account 456,551 274,405
Obligations under finance leases and hire purchase contracts 22,904 0
Other creditors 19,225 26,595
1,884,016 1,207,988

Bank loans are secured by way of a fixed and floating charge over the assets of the company.

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans (secured) 46,367 125,854
Amounts owed to directors 0 264,737
Obligations under finance leases and hire purchase contracts 29,493 0
75,860 390,591

Bank loans are secured by way of a fixed and floating charge over the assets of the company.

8. Provision for liabilities

Deferred taxation Other Total
£ £ £
At 01 May 2022 129,707 148,233 277,940
Credited to the Profit and Loss Account ( 92,844) ( 54,891) ( 147,735)
At 30 April 2023 36,863 93,342 130,205

The other provisions is made up of a WIP provision and a property provision.

WIP provision – This provision includes amounts relating to onerous architectural contracts, as well as contractual costs not yet performed, and are expected to reverse in the next twelve months.

Property provisions – Property provisions, for all reasonable property liabilities, relates to loss making contractual commitments of the company across all its properties. In accordance with section 21.17 of FRS 102, further disclosure has not been made as the directors consider this would be prejudicial to the company.

Deferred tax

2023 2022
£ £
Accelerated capital allowances 104,245 131,023
Tax losses available ( 66,066) 0
Other timing differences ( 1,316) ( 1,316)
Provision for deferred tax 36,863 129,707

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
42,575 Ordinary shares of £ 1.00 each (2022: 48,550 shares of £ 1.00 each) 42,575 48,550

During the year the company carried out the following share transactions:

175 share options of £1.00 each were issued for £4,435.
6,150 share options of £1.00 each were repurchased for £154,121 and were then cancelled.

10. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2023 2022
£ £
within one year 431,277 429,073
between one and five years 1,041,983 1,268,931
after five years 56,128 255,028
1,529,388 1,953,032

The 2022 figures have been restated to include £255,028 as amounts due after five years.

11. Related party transactions

At the year end £260,812 (2022 - £277,231) was owed from the company to the directors. The amount due is split between creditors due within one year of £260,812 (2022 - £12,493) and creditors due after more than one year £nil (2022 - £264,738). Interest totalling £21,603 (2022 - £17,784) has been charged on the loans.