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Company registration number: 03179673
Cartwright Pickard Architects Limited
Unaudited filleted financial statements
31 August 2023
Cartwright Pickard Architects Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Cartwright Pickard Architects Limited
Directors and other information
Directors J T Pickard
P Cartwright
L J Arnold (Appointed 1 November 2023)
C D Dymond (Appointed 1 November 2023)
R Ogilvie (Appointed 1 November 2023)
T D Roberts (Appointed 1 November 2023)
Secretary K Byers
Company number 03179673
Registered office 1 Canal Side Studios
8-14 St Pancras Way
London
NW1 0QG
Cartwright Pickard Architects Limited
Statement of financial position
31 August 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 30,289 52,800
Investments 6 180,400 180,400
_______ _______
210,689 233,200
Current assets
Debtors 7 1,018,368 1,333,725
Cash at bank and in hand 1,712,829 2,335,725
_______ _______
2,731,197 3,669,450
Creditors: amounts falling due
within one year 8 576,351 ( 577,559)
_______ _______
Net current assets 3,307,548 3,091,891
_______ _______
Total assets less current liabilities 3,518,237 3,325,091
_______ _______
Net assets 3,518,237 3,325,091
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 3,518,137 3,324,991
_______ _______
Shareholders funds 3,518,237 3,325,091
_______ _______
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements were approved by the board of directors and authorised for issue on 11 March 2024 , and are signed on behalf of the board by:
J T Pickard
Director
Company registration number: 03179673
Cartwright Pickard Architects Limited
Notes to the financial statements
Year ended 31 August 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 1 Canal Side Studios, 8-14 St Pancras Way, London, NW1 0QG.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
No provision for deferred taxation has been provided for in the financial statements, due to the amount not being material.
Tangible assets
tangible assets are initially recorded at cost, and are 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:
Fittings fixtures and equipment - 25 % straight line
Motor vehicles - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
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.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 36 (2022: 39 ).
5. Tangible assets
Long leasehold property Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 September 2022 90,935 835,402 977 927,314
Additions - 4,217 - 4,217
_______ _______ _______ _______
At 31 August 2023 90,935 839,619 977 931,531
_______ _______ _______ _______
Depreciation
At 1 September 2022 90,935 782,602 977 874,514
Charge for the year - 26,728 - 26,728
_______ _______ _______ _______
At 31 August 2023 90,935 809,330 977 901,242
_______ _______ _______ _______
Carrying amount
At 31 August 2023 - 30,289 - 30,289
_______ _______ _______ _______
At 31 August 2022 - 52,800 - 52,800
_______ _______ _______ _______
6. Investments
Other investments other than loans Total
£ £
Cost
At 1 September 2022 and 31 August 2023 180,400 180,400
_______ _______
Impairment
At 1 September 2022 and 31 August 2023 - -
_______ _______
Carrying amount
At 31 August 2023 180,400 180,400
_______ _______
At 31 August 2022 180,400 180,400
_______ _______
Investments in group undertakings
Registered country Class of share Percentage of shares held
Participating interest
Consarc Consulting Architects Limited England and Wales A Ordinary shares 20
Tessellate Careers Limited England and Wales Ordinary shares 9
7. Debtors
2023 2022
£ £
Trade debtors 655,138 950,187
Other debtors 363,230 383,538
_______ _______
1,018,368 1,333,725
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts ( 1,009,116) -
Trade creditors 92,724 137,961
Corporation tax 76,335 118,563
Social security and other taxes 159,289 221,002
Other creditors 104,417 100,033
_______ _______
( 576,351) 577,559
_______ _______
9. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Not later than 1 year 403,253 429,023
Later than 1 year and not later than 5 years 697,700 1,100,953
_______ _______
1,100,953 1,529,976
_______ _______
10. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
J T Pickard ( 8,000) 8,000 -
P Cartwright ( 9,000) 9,000 -
_______ _______ _______
( 17,000) 17,000 -
_______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
J T Pickard ( 50,000) 42,000 ( 8,000)
P Cartwright ( 50,000) 41,000 ( 9,000)
_______ _______ _______
( 100,000) 83,000 ( 17,000)
_______ _______ _______