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COMPANY REGISTRATION NUMBER: 03308263
WRIGHT DESIGN (ARCHITECTURAL SERVICES) LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 June 2023
WRIGHT DESIGN (ARCHITECTURAL SERVICES) LIMITED
STATEMENT OF FINANCIAL POSITION
30 June 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
8,558
2,014
CURRENT ASSETS
Debtors
6
1,219
1,594
Cash at bank and in hand
9,154
2,556
--------
-------
10,373
4,150
CREDITORS: amounts falling due within one year
7
11,616
18,518
--------
--------
NET CURRENT LIABILITIES
1,243
14,368
-------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
7,315
( 12,354)
CREDITORS: amounts falling due after more than one year
8
2,000
3,000
-------
--------
NET ASSETS/(LIABILITIES)
5,315
( 15,354)
-------
--------
CAPITAL AND RESERVES
Called up share capital fully paid
1
1
Profit and loss account
5,314
( 15,355)
-------
--------
SHAREHOLDERS FUNDS/(DEFICIT)
5,315
( 15,354)
-------
--------
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 statement of income and retained earnings has not been delivered.
For the year ending 30 June 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 .
WRIGHT DESIGN (ARCHITECTURAL SERVICES) LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 8 February 2024 , and are signed on behalf of the board by:
Mr S Wright
Director
Company registration number: 03308263
WRIGHT DESIGN (ARCHITECTURAL SERVICES) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Doverdale Cottage, 30 Armhill Road, Gretton, Corby, Northamptonshire, NN17 3DN.
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 and are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered.
Income tax
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25% straight line
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.
Government grants
Government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. TANGIBLE ASSETS
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 July 2022
4,513
2,715
7,228
Additions
10,000
10,000
-------
--------
-------
--------
At 30 June 2023
4,513
10,000
2,715
17,228
-------
--------
-------
--------
Depreciation
At 1 July 2022
4,309
905
5,214
Charge for the year
51
2,500
905
3,456
-------
--------
-------
--------
At 30 June 2023
4,360
2,500
1,810
8,670
-------
--------
-------
--------
Carrying amount
At 30 June 2023
153
7,500
905
8,558
-------
--------
-------
--------
At 30 June 2022
204
1,810
2,014
-------
--------
-------
--------
6. DEBTORS
2023
2022
£
£
Trade debtors
1,219
1,594
-------
-------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
1,000
1,000
Trade creditors
1,474
143
Corporation tax
1,697
Social security and other taxes
1,794
1,313
Other creditors
5,651
16,062
--------
--------
11,616
18,518
--------
--------
8. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
2,000
3,000
-------
-------