2022-09-012023-08-312023-08-31false03831754Wastell & Porter Architects 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Wastell & Porter Architects Limited

Registered Number
03831754
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2023

Wastell & Porter Architects Limited
Company Information
for the year from 1 September 2022 to 31 August 2023

Directors

Porter, James Richard
Porter, Miranda
Scott, Mark

Company Secretary

PORTER, James Richard

Registered Address

Grove House
2 Woodberry Grove
London
N12 0DR

Registered Number

03831754 (England and Wales)
Wastell & Porter Architects Limited
Balance Sheet as at
31 August 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets72,1172,378
2,1172,378
Current assets
Debtors45,81585,075
Cash at bank and on hand85,434108,241
131,249193,316
Creditors amounts falling due within one year10133,146112,982
Net current assets (liabilities)(1,897)80,334
Total assets less current liabilities22082,712
Provisions for liabilities(22)(72)
Net assets19882,640
Capital and reserves
Called up share capital222203
Profit and loss account(24)82,437
Shareholders' funds19882,640
The financial statements were approved and authorised for issue by the Board of Directors on 12 February 2024, and are signed on its behalf by:
Porter, James Richard
Director
Scott, Mark
Director

Registered Company No. 03831754
Wastell & Porter Architects Limited
Notes to the Financial Statements
for the year ended 31 August 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 in the year under review was that of architectural services.
4.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
5.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 the sale of goods and from the rendering of services.
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:

Straight line (years)
Fixtures and fittings25
Office Equipment33
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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.
Government grants and other government assistance policy
The Small Business Grant has been recognised as income in the period in which it becomes receivable. Coronavirus Job Retention Scheme Grants have been recognised as income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
6.Employee information

20232022
Average number of employees during the year14
7.Property, plant and equipment

Total

£
Cost or valuation
At 01 September 2227,161
At 31 August 2327,161
Depreciation and impairment
At 01 September 2224,784
Charge for year260
At 31 August 2325,044
Net book value
At 31 August 232,117
At 31 August 222,378
8.Description of nature of transactions and balances with related parties
At the balance sheet date the company was owed £3,939 (2022 : £25,975 was owed to the directors) by the directors which is an interest free loan with no fixed date for repayment.
9.Debtors within one year

2023

2022

££
Other debtors15,22925,436
Prepayments and accrued income30,58659,639
Total45,81585,075
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.
10.Creditors within one year

2023

2022

££
Trade creditors / trade payables64,56332,592
Taxation and social security34,36348,773
Other creditors31,57026,631
Accrued liabilities and deferred income2,6504,986
Total133,146112,982
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.