Silverfin false false 31/07/2023 01/08/2022 31/07/2023 G Swapp 30/07/2012 18 April 2024 The principal activity of the company is that of architectural consultancy services. 08160506 2023-07-31 08160506 bus:Director1 2023-07-31 08160506 2022-07-31 08160506 core:CurrentFinancialInstruments 2023-07-31 08160506 core:CurrentFinancialInstruments 2022-07-31 08160506 core:ShareCapital 2023-07-31 08160506 core:ShareCapital 2022-07-31 08160506 core:RetainedEarningsAccumulatedLosses 2023-07-31 08160506 core:RetainedEarningsAccumulatedLosses 2022-07-31 08160506 core:OtherPropertyPlantEquipment 2022-07-31 08160506 core:OtherPropertyPlantEquipment 2023-07-31 08160506 2022-08-01 2023-07-31 08160506 bus:FilletedAccounts 2022-08-01 2023-07-31 08160506 bus:SmallEntities 2022-08-01 2023-07-31 08160506 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 08160506 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 08160506 bus:Director1 2022-08-01 2023-07-31 08160506 core:OtherPropertyPlantEquipment core:TopRangeValue 2022-08-01 2023-07-31 08160506 2021-08-01 2022-07-31 08160506 core:OtherPropertyPlantEquipment 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Company No: 08160506 (England and Wales)

GORDON SWAPP ARCHITECT LTD

Unaudited Financial Statements
For the financial year ended 31 July 2023
Pages for filing with the registrar

GORDON SWAPP ARCHITECT LTD

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

GORDON SWAPP ARCHITECT LTD

STATEMENT OF FINANCIAL POSITION

As at 31 July 2023
GORDON SWAPP ARCHITECT LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 July 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 681 2,602
681 2,602
Creditors: amounts falling due within one year 4 ( 51,467) ( 33,024)
Net current liabilities (51,467) (33,024)
Total assets less current liabilities (50,786) (30,422)
Net liabilities ( 50,786) ( 30,422)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 50,886 ) ( 30,522 )
Total shareholder's deficit ( 50,786) ( 30,422)

For the financial year ending 31 July 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 financial statements of Gordon Swapp Architect Ltd (registered number: 08160506) were approved and authorised for issue by the Director. They were signed on its behalf by:

G Swapp
Director

18 April 2024

GORDON SWAPP ARCHITECT LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
GORDON SWAPP ARCHITECT LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 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

Gordon Swapp Architect Ltd (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 35 Ballards Lane, London, N3 1XW, 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 director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has 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.

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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property 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 basis over its expected useful life, as follows:

Plant and machinery etc. 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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the company during the year, including the director 1 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 August 2022 17,664 17,664
Additions 399 399
At 31 July 2023 18,063 18,063
Accumulated depreciation
At 01 August 2022 15,062 15,062
Charge for the financial year 2,320 2,320
At 31 July 2023 17,382 17,382
Net book value
At 31 July 2023 681 681
At 31 July 2022 2,602 2,602

4. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 200 200
Other creditors 51,267 32,824
51,467 33,024