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Company No: 08720267 (England and Wales)

KARAKUSEVIC CARSON ARCHITECTS LIMITED
(Formerly Karakusevic Carson Limited)

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

KARAKUSEVIC CARSON ARCHITECTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

KARAKUSEVIC CARSON ARCHITECTS LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
KARAKUSEVIC CARSON ARCHITECTS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTOR Paul Djorjde Karakusevic
SECRETARY Laura Cobb
REGISTERED OFFICE Studio 501 37 Cremer Street
Hackney
London
E2 8HD
England
United Kingdom
COMPANY NUMBER 08720267 (England and Wales)
ACCOUNTANT Praxis
1 Poultry
London
EC2R 8EJ
KARAKUSEVIC CARSON ARCHITECTS LIMITED

BALANCE SHEET

As at 31 December 2023
KARAKUSEVIC CARSON ARCHITECTS LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Investments 3 99 0
99 0
Current assets
Debtors 4 874,702 875,145
Cash at bank and in hand 5 45,579 94,503
920,281 969,648
Creditors: amounts falling due within one year 6 ( 20,267) ( 18,850)
Net current assets 900,014 950,798
Total assets less current liabilities 900,113 950,798
Net assets 900,113 950,798
Capital and reserves
Called-up share capital 7 100 1
Profit and loss account 900,013 950,797
Total shareholder's funds 900,113 950,798

For the financial year ending 31 December 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 Karakusevic Carson Architects Limited (registered number: 08720267) were approved and authorised for issue by the Director on 30 July 2024. They were signed on its behalf by:

Paul Djorjde Karakusevic
Director
KARAKUSEVIC CARSON ARCHITECTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
KARAKUSEVIC CARSON ARCHITECTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 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

With effect from 24 January 2024, the name of the company was changed from Karakusevic Carson Limited to Karakusevic Carson Architects Limited.

Karakusevic Carson 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 Studio 501 37 Cremer Street, Hackney, London, E2 8HD, 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 director has assessed the Balance Sheet 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.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Impairment of assets

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

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable 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 company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 January 2023 0
Additions 99
At 31 December 2023 99
Carrying value at 31 December 2023 99
Carrying value at 31 December 2022 0

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
31.12.2023
Karakusevic Carson Services Limited Studio 501 37 Cremer St, London, E2 8HD Architectural sub-consultancy and office services Ordinary 100.00%

4. Debtors

2023 2022
£ £
Amounts owed by Group undertakings 175,041 0
Amounts owed by connected persons 697,660 872,701
Other debtors 2,001 2,444
874,702 875,145

5. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 45,579 94,503

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 587 606
Amounts owed to connected persons 15,207 15,546
Other creditors 4,473 2,698
20,267 18,850

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each (2022: 1 share of £ 1.00 ) 100 1

8. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Loans to entities in which the director has an interest 697,661 872,702
Loans from entities in which the director has an interest 0 (15,546)
Amounts owed to director (1,775) 0

The above loans are interest free and repayable on demand.