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Company No: 04767576 (England and Wales)

QUATTRO DESIGN ARCHITECTS LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2023
Pages for filing with the registrar

QUATTRO DESIGN ARCHITECTS LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2023

Contents

QUATTRO DESIGN ARCHITECTS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 September 2023
QUATTRO DESIGN ARCHITECTS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 114,592 144,275
114,592 144,275
Current assets
Debtors 4 1,417,057 1,348,645
Cash at bank and in hand 374,821 463,958
1,791,878 1,812,603
Creditors: amounts falling due within one year 5 ( 612,167) ( 677,246)
Net current assets 1,179,711 1,135,357
Total assets less current liabilities 1,294,303 1,279,632
Provision for liabilities ( 24,422) ( 31,372)
Net assets 1,269,881 1,248,260
Capital and reserves
Called-up share capital 6 254 314
Share premium account 168,724 168,724
Capital redemption reserve 95 35
Profit and loss account 1,100,808 1,079,187
Total shareholders' funds 1,269,881 1,248,260

For the financial year ending 30 September 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Quattro Design Architects Limited (registered number: 04767576) were approved and authorised for issue by the Board of Directors on 04 March 2024. They were signed on its behalf by:

R Fellows
Director
QUATTRO DESIGN ARCHITECTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
QUATTRO DESIGN ARCHITECTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 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

Quattro Design Architects Limited (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 Matthews Warehouse High Orchard Street, Gloucester Quays, Gloucester, GL2 5QY, England, 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 directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have 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.

Interest income

Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Leasehold improvements depreciated over the life of the lease
Fixtures and fittings 33.3 % reducing balance
Computer equipment 25 % reducing balance

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.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

The company only enters into basic financial instrument 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, loan to related parties and investments in non puttable ordinary shares.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 45 46

3. Tangible assets

Leasehold improve-
ments
Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
At 01 October 2022 97,691 395,323 114,197 607,211
Additions 0 5,501 0 5,501
At 30 September 2023 97,691 400,824 114,197 612,712
Accumulated depreciation
At 01 October 2022 48,436 300,303 114,197 462,936
Charge for the financial year 4,930 30,254 0 35,184
At 30 September 2023 53,366 330,557 114,197 498,120
Net book value
At 30 September 2023 44,325 70,267 0 114,592
At 30 September 2022 49,255 95,020 0 144,275

4. Debtors

2023 2022
£ £
Trade debtors 1,033,211 1,010,040
Amounts recoverable on contracts 134,730 127,830
Other debtors 249,116 210,775
1,417,057 1,348,645

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 159,461 156,934
Accruals 230,327 247,305
Corporation tax 23,457 20,936
Other taxation and social security 172,515 231,618
Other creditors 26,407 20,453
612,167 677,246

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
20,513 A ordinary shares of £ 0.01 each (2022: 15,000 shares of £ 0.01 each) 205 150
4,875 B ordinary shares of £ 0.01 each (2022: 16,388 shares of £ 0.01 each) 49 164
254 314

During the year, the company repurchased 6,000 B ordinary shares of £0.01, and redesignated 5,513 B ordinary shares of £0.01 to 5,513 A ordinary shares of £0.01. The rights of the 5513 B shares reclassified as A shares shall be varied to be full voting shares. All other issued shares shall remain unchanged.

7. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2023 2022
£ £
within one year 143,574 123,442
between one and five years 389,388 414,200
after five years 0 49,931
532,962 587,573

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2023 2022
£ £
Unpaid contributions due to the fund (inc. in other creditors) 15,483 14,644

8. Related party transactions

During the year the directors received dividends totalling £40,001 (2022 - £37,334) in respect of their shareholdings.