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COMPANY REGISTRATION NUMBER:
SC398763
Architectural Design Practice Limited |
|
Filleted Unaudited Financial Statements |
|
Architectural Design Practice Limited |
|
Year ended 31 May 2023
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements |
1 |
|
|
Statement of financial position |
2 |
|
|
Notes to the financial statements |
3 |
|
|
Architectural Design Practice Limited |
|
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of
Architectural Design Practice Limited |
|
Year ended 31 May 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Architectural Design Practice Limited for the year ended 31 May 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the director of Architectural Design Practice Limited. Our work has been undertaken solely to prepare for your approval the financial statements of Architectural Design Practice Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Architectural Design Practice Limited and its director for our work or for this report.
It is your duty to ensure that Architectural Design Practice Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Architectural Design Practice Limited. You consider that Architectural Design Practice Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Architectural Design Practice Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
GILLILAND & COMPANY
Chartered Accountants
216 West George Street
Glasgow
G2 2PQ
7 February 2024
Architectural Design Practice Limited |
|
Statement of Financial Position |
|
31 May 2023
Current assets
Debtors |
6 |
8,807 |
|
10,770 |
Cash at bank and in hand |
14,803 |
|
20,719 |
|
-------- |
|
-------- |
|
23,610 |
|
31,489 |
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
17,353 |
|
22,401 |
|
-------- |
|
-------- |
Net current assets |
|
6,257 |
9,088 |
|
|
------- |
------- |
Total assets less current liabilities |
|
6,257 |
9,088 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
8 |
|
5,657 |
8,657 |
|
|
------- |
------- |
Net assets |
|
600 |
431 |
|
|
------- |
------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
1 |
1 |
Profit and loss account |
|
599 |
430 |
|
|
---- |
---- |
Shareholders funds |
|
600 |
431 |
|
|
---- |
---- |
|
|
|
|
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 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
7 February 2024
, and are signed on behalf of the board by:
Mr J K McDougall |
|
Director |
|
|
|
Company registration number:
SC398763
Architectural Design Practice 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 Scotland. The address of the registered office is 216 West George Street, Glasgow, G2 2PQ.
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.
Cash & cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash Equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change of value.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year.
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. 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.
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:
|
Computer Equipment |
- |
33% straight line |
|
|
|
|
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
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.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2022:
1
).
5.
Tangible assets
|
Equipment |
Total |
|
£ |
£ |
Cost |
|
|
At 1 June 2022 and 31 May 2023 |
1,034 |
1,034 |
|
------- |
------- |
Depreciation |
|
|
At 1 June 2022 and 31 May 2023 |
1,034 |
1,034 |
|
------- |
------- |
Carrying amount |
|
|
At 31 May 2023 |
– |
– |
|
------- |
------- |
At 31 May 2022 |
– |
– |
|
------- |
------- |
|
|
|
6.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Other debtors |
8,807 |
10,770 |
|
------- |
-------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Bank loans and overdrafts |
3,343 |
3,343 |
Corporation tax |
10,812 |
13,089 |
Social security and other taxes |
1,453 |
2,599 |
Other creditors |
1,745 |
3,370 |
|
-------- |
-------- |
|
17,353 |
22,401 |
|
-------- |
-------- |
|
|
|
8.
Creditors:
amounts falling due after more than one year
|
2023 |
2022 |
|
£ |
£ |
Bank loans and overdrafts |
5,657 |
8,657 |
|
------- |
------- |
|
|
|
9.
Director's advances, credits and guarantees
As at the 31st May 2023,
Mr J K McDougall
was owed by the company £ 8,806
(2022: £10,770). This balance has been repaid in full after the year-end.
10.
Controlling party
The company was under the control of
Mr J K McDougall
, director, throughout the current period.