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COMPANY REGISTRATION NUMBER: 08056938
ARCHITECTURAL STRUCTURES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 May 2023
ARCHITECTURAL STRUCTURES LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2023
Contents
Pages
Balance sheet 1
Notes to the financial statements 2 to 6
ARCHITECTURAL STRUCTURES LIMITED
BALANCE SHEET
31 May 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
3,270,165
2,801,708
Current assets
Stocks
6
140,000
125,000
Debtors
7
80,952
101,702
Cash at bank and in hand
257,387
135,520
------------
------------
478,339
362,222
Creditors: amounts falling due within one year
8
( 608,517)
( 198,196)
------------
------------
Net current (liabilities)/assets
( 130,178)
164,026
------------
------------
Total assets less current liabilities
3,139,987
2,965,734
Provisions
Taxation including deferred tax
( 53,497)
( 13,690)
------------
------------
Net assets
3,086,490
2,952,044
------------
------------
Capital and reserves
Called up share capital
10
1
1
Profit and loss account
3,086,489
2,952,043
------------
------------
Shareholders funds
3,086,490
2,952,044
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 21 February 2024 , and are signed on behalf of the board by:
K Hodge Director
Company registration number: 08056938
ARCHITECTURAL STRUCTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2023
1. General information
The company is a private company limited by shares, registered in England and Wales, company registration number: 08056938 . The address of the registered office is Greenacres, Moss Lane, Mobberley, Chesire, WA16 7BP.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity and rounded to the nearest pound.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% straight line
Fixtures and Fittings
-
20% straight line
Motor vehicles
-
20% straight line
Computer equipment
-
33% straight line
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: Nil).
5. Tangible assets
Investment properties
Plant and machinery
Fixtures and fittings
Motor vehicles
Computer equipment
Total
£
£
£
£
£
£
Cost
At 1 Jun 2022
2,734,516
59,077
48,780
15,000
2,857,373
Additions
401,642
110,650
3,320
515,612
Disposals
( 12,500)
( 12,500)
------------
------------
------------
------------
------------
------------
At 31 May 2023
3,136,158
157,227
48,780
15,000
3,320
3,360,485
------------
------------
------------
------------
------------
------------
Depreciation
At 1 Jun 2022
21,842
30,823
3,000
55,665
Charge for the year
23,848
9,756
3,000
551
37,155
Disposals
( 2,500)
( 2,500)
------------
------------
------------
------------
------------
------------
At 31 May 2023
43,190
40,579
6,000
551
90,320
------------
------------
------------
------------
------------
------------
Carrying amount
At 31 May 2023
3,136,158
114,037
8,201
9,000
2,769
3,270,165
------------
------------
------------
------------
------------
------------
At 31 May 2022
2,734,516
37,235
17,957
12,000
2,801,708
------------
------------
------------
------------
------------
------------
The directors consider that the market value of the investment properties at 31 May 2023 was in line with the carrying value and no revaluation is required.
6. Stocks
2023
2022
£
£
Livestock
140,000
125,000
------------
------------
7. Debtors
2023
2022
£
£
Trade debtors
63,954
46,691
VAT recoverable
13,976
55,011
Other debtors
3,022
------------
------------
80,952
101,702
------------
------------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
6,515
4,793
Accruals and deferred income
11,705
35,653
Corporation tax
6,203
157,381
Director's loan account
584,094
369
------------
------------
608,517
198,196
------------
------------
9. Deferred tax
The deferred tax included in the balance sheet is as follows:
2023
2022
£
£
Included in provisions
53,497
13,690
------------
------------
The deferred tax account consists of the tax effect of timing differences in respect of:
2023
2022
£
£
Accelerated capital allowances
53,497
13,690
------------
------------
10. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
------------
------------
------------
------------
11. Related party transactions
During the year rent of £294,944 (2022: £422,112), equipment hire of £Nil (2022: £108,333) and management fees of £Nil (2022: £250,000) was received from a company that was under common control until 3 May 2022. The director's loan account as shown at note 10 above of £584,094 (2022: £369) is unsecured, repayable on demand and currently interest free. The company is controlled by K Hodge by virtue of his shareholding in the company