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REGISTERED NUMBER: SC429414 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

BSP ARCHITECTS LIMITED

BSP ARCHITECTS LIMITED (REGISTERED NUMBER: SC429414)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


BSP ARCHITECTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: Fraser McAllan
Andrew Ferns



REGISTERED OFFICE: C/O French Duncan
133 Finnieston Street
Glasgow
G3 8HB



BUSINESS ADDRESS: Ravenstone House
4 Ravenstone Drive
Giffnock
G46 6AL



REGISTERED NUMBER: SC429414 (Scotland)



ACCOUNTANTS: William Duncan (UK) Limited
Chartered Accountants
4d Auchingramont Road
Hamilton
ML3 6JT



BANKERS: Virgin Money
2 Princes square
East Kilbride
G74 1LJ

BSP ARCHITECTS LIMITED (REGISTERED NUMBER: SC429414)

STATEMENT OF FINANCIAL POSITION
31 JULY 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 7,000
Tangible assets 5 7,902 34,673
7,902 41,673

CURRENT ASSETS
Debtors 6 181,171 69,950
Cash at bank and in hand 126,752 284,953
307,923 354,903
CREDITORS
Amounts falling due within one year 7 65,894 107,994
NET CURRENT ASSETS 242,029 246,909
TOTAL ASSETS LESS CURRENT
LIABILITIES

249,931

288,582

CREDITORS
Amounts falling due after more than one
year

8

21,667

52,650
NET ASSETS 228,264 235,932

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 228,164 235,832
SHAREHOLDERS' FUNDS 228,264 235,932

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

BSP ARCHITECTS LIMITED (REGISTERED NUMBER: SC429414)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 March 2024 and were signed on its behalf by:





Andrew Ferns - Director


BSP ARCHITECTS LIMITED (REGISTERED NUMBER: SC429414)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

BSP Architects Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
In common with most businesses the company is facing potential issues in respect of the COVID-19 pandemic. This is an ongoing situation and the company is adopting a strategy to manage the ever changing situation as effectively as possible.

The director is satisfied that these events do not affect the company's ability to continue as a going concern and this basis is appropriate for the preparation of the accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rendering of services
Turnover from the rendering of services, namely the provision of architectural services, is recognised by reference to the stage of completion of the service at the statement of financial position date.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Office equipment - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of impairment loss is recognised immediately in the income statement.

BSP ARCHITECTS LIMITED (REGISTERED NUMBER: SC429414)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial instruments are recognised as follows:

(i) Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method less any impairment.

(ii) Cash and cash equivalents
Cash and cash equivalents include cash at bank and in hand.

Cash and cash equivalents are shown net of bank overdrafts, which are included as current borrowings in liabilities on the statement of financial position.

(iii) Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to the income statement over the relevant period using the effective interest method. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.

BSP ARCHITECTS LIMITED (REGISTERED NUMBER: SC429414)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


2. ACCOUNTING POLICIES - continued

Provisions for liabilities
The company recognises a provision for annual leave accrued by employees as a result of services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months. The provision is measured at the salary cost payable for the period of absence.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 120,000
AMORTISATION
At 1 August 2022 113,000
Amortisation for year 7,000
At 31 July 2023 120,000
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 7,000

5. TANGIBLE FIXED ASSETS
Fixtures
Office and Motor
equipment fittings vehicles Totals
£    £    £    £   
COST
At 1 August 2022 46,597 2 48,305 94,904
Additions 3,520 - - 3,520
Disposals - - (48,305 ) (48,305 )
At 31 July 2023 50,117 2 - 50,119
DEPRECIATION
At 1 August 2022 36,079 - 24,152 60,231
Charge for year 6,138 - - 6,138
Eliminated on disposal - - (24,152 ) (24,152 )
At 31 July 2023 42,217 - - 42,217
NET BOOK VALUE
At 31 July 2023 7,900 2 - 7,902
At 31 July 2022 10,518 2 24,153 34,673

BSP ARCHITECTS LIMITED (REGISTERED NUMBER: SC429414)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 August 2022 48,305
Disposals (48,305 )
At 31 July 2023 -
DEPRECIATION
At 1 August 2022 24,152
Eliminated on disposal (24,152 )
At 31 July 2023 -
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 24,153

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Work in progress 64,966 -
Other debtors 61,375 60,347
Director's loan 49,184 -
VAT - 4,808
Prepaid charges 5,646 4,795
181,171 69,950

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 10,000 10,000
Corporation tax (1,915 ) 15,218
P.A.Y.E. and N.I.C. (2,670 ) (703 )
VAT 1,340 -
Other creditors 609 2,254
Director's loan - 882
Accrued charges 58,530 80,343
65,894 107,994

BSP ARCHITECTS LIMITED (REGISTERED NUMBER: SC429414)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans - 2-5 years 21,667 31,667
Hire purchase contracts - 20,983
21,667 52,650

9. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Hire purchase contracts - 20,983

Hire purchase contracts are secured against the assets to which they relate.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2023 and 31 July 2022:

31.7.23 31.7.22
£    £   
Craig Steven
Balance outstanding at start of year - -
Amounts advanced 49,184 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 49,184 -

The above balance which is due from a director is interest free and has no fixed repayment terms.