Grainge Architects Limited 03275169 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is the provision of architectural services. Digita Accounts Production Advanced 6.30.9574.0 true 03275169 2023-01-01 2023-12-31 03275169 2023-12-31 03275169 core:CapitalRedemptionReserve 2023-12-31 03275169 core:RetainedEarningsAccumulatedLosses 2023-12-31 03275169 core:ShareCapital 2023-12-31 03275169 core:CurrentFinancialInstruments 2023-12-31 03275169 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 03275169 core:Non-currentFinancialInstruments 2023-12-31 03275169 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 03275169 core:Goodwill 2023-12-31 03275169 core:OtherResidualIntangibleAssets 2023-12-31 03275169 core:FurnitureFittingsToolsEquipment 2023-12-31 03275169 core:LandBuildings 2023-12-31 03275169 core:OtherPropertyPlantEquipment 2023-12-31 03275169 bus:SmallEntities 2023-01-01 2023-12-31 03275169 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 03275169 bus:FullAccounts 2023-01-01 2023-12-31 03275169 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 03275169 bus:RegisteredOffice 2023-01-01 2023-12-31 03275169 bus:Director5 2023-01-01 2023-12-31 03275169 bus:Director6 2023-01-01 2023-12-31 03275169 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03275169 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 03275169 core:Goodwill 2023-01-01 2023-12-31 03275169 core:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 03275169 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 03275169 core:LandBuildings 2023-01-01 2023-12-31 03275169 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 03275169 core:PlantMachinery 2023-01-01 2023-12-31 03275169 countries:AllCountries 2023-01-01 2023-12-31 03275169 2022-12-31 03275169 core:Goodwill 2022-12-31 03275169 core:OtherResidualIntangibleAssets 2022-12-31 03275169 core:FurnitureFittingsToolsEquipment 2022-12-31 03275169 core:LandBuildings 2022-12-31 03275169 core:OtherPropertyPlantEquipment 2022-12-31 03275169 2022-01-01 2022-12-31 03275169 2022-12-31 03275169 core:CapitalRedemptionReserve 2022-12-31 03275169 core:RetainedEarningsAccumulatedLosses 2022-12-31 03275169 core:ShareCapital 2022-12-31 03275169 core:CurrentFinancialInstruments 2022-12-31 03275169 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 03275169 core:Non-currentFinancialInstruments 2022-12-31 03275169 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 03275169 core:FurnitureFittingsToolsEquipment 2022-12-31 03275169 core:LandBuildings 2022-12-31 03275169 core:OtherPropertyPlantEquipment 2022-12-31 03275169 1 2022-12-31 03275169 2 2022-12-31 03275169 1 2022-01-01 2022-12-31 03275169 2 2022-01-01 2022-12-31 03275169 1 2021-12-31 03275169 2 2021-12-31 iso4217:GBP xbrli:pure

Registration number: 03275169

Grainge Architects Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Grainge Architects Limited
(Registration number: 03275169)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Grainge Architects Limited
(Registration number: 03275169)

Company Information

Directors

J E G Brookes

A R Pollintine

Registered office

The Boat Shed
Haven Banks
Exeter
Devon
EX2 8DD

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Grainge Architects Limited
(Registration number: 03275169)

Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

7,024

-

Tangible assets

5

86,909

78,947

 

93,933

78,947

Current assets

 

Debtors

6

542,463

379,324

Cash at bank and in hand

 

278,680

170,077

 

821,143

549,401

Creditors: Amounts falling due within one year

7

(342,932)

(303,183)

Net current assets

 

478,211

246,218

Total assets less current liabilities

 

572,144

325,165

Creditors: Amounts falling due after more than one year

7

(70,500)

(112,500)

Provisions for liabilities

(21,101)

(18,753)

Net assets

 

480,543

193,912

Capital and reserves

 

Called up share capital

18,000

18,000

Capital redemption reserve

49,250

49,250

Profit and loss account

413,293

126,662

Total equity

 

480,543

193,912

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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Grainge Architects Limited
(Registration number: 03275169)

Balance Sheet as at 31 December 2023

Approved and authorised by the Board on 3 August 2024 and signed on its behalf by:
 

.........................................
J E G Brookes
Director

.........................................
A R Pollintine
Director

 

Grainge Architects Limited
(Registration number: 03275169)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
The Boat Shed
Haven Banks
Exeter
Devon
EX2 8DD

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Grainge Architects Limited
(Registration number: 03275169)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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 assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and Buildings

10 % straight line

Plant and Machinery

20 % reducing balance

Fixtures and Equipment

20% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Intangible assets

Intangible assets are stated in the balance sheet at cost, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

The cost of intangible assets includes directly attributable incremental costs incurred in their acquisition.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Not amortised

Website

33.3% straight line

 

Grainge Architects Limited
(Registration number: 03275169)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Grainge Architects Limited
(Registration number: 03275169)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 30 (2022 - 30).

 

Grainge Architects Limited
(Registration number: 03275169)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Intangible assets

Goodwill
 £

Other intangible assets
 £

Total
£

Cost or valuation

At 1 January 2023

150,000

-

150,000

Additions acquired separately

-

7,308

7,308

At 31 December 2023

150,000

7,308

157,308

Amortisation

At 1 January 2023

150,000

-

150,000

Amortisation charge

-

284

284

At 31 December 2023

150,000

284

150,284

Carrying amount

At 31 December 2023

-

7,024

7,024

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

144,415

180,780

8,095

333,290

Additions

6,978

22,832

5,049

34,859

At 31 December 2023

151,393

203,612

13,144

368,149

Depreciation

At 1 January 2023

128,706

120,562

5,075

254,343

Charge for the year

2,987

23,053

857

26,897

At 31 December 2023

131,693

143,615

5,932

281,240

Carrying amount

At 31 December 2023

19,700

59,997

7,212

86,909

At 31 December 2022

15,709

60,218

3,020

78,947

 

Grainge Architects Limited
(Registration number: 03275169)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Included within the net book value of land and buildings above is £19,700 (2022 - £15,709) in respect of long leasehold land and buildings.
 

6

Debtors

2023
£

2022
£

Trade debtors

390,170

220,968

Other debtors

125,515

129,053

Prepayments and accrued income

26,778

29,303

Total current trade and other debtors

542,463

379,324

7

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

42,000

42,000

Trade creditors

 

13,678

9,657

Taxation and social security

 

226,262

150,233

Other creditors

 

57,181

98,793

Accrued expenses

 

3,811

2,500

 

342,932

303,183

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

70,500

112,500

Creditors include bank loans and overdrafts which are secured of £113,500 (2022 - £154,500).

Security is given by means of a fixed and floating charge over the assets of the company.

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

 

Grainge Architects Limited
(Registration number: 03275169)

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

The total amount of financial commitments not included in the balance sheet is £133,258 (2022 - £190,111). The company has operating lease commitments falling payable within one year of £50,097 (2022 - £57,052).

9

Related party transactions

Transactions with directors

2022

At 1 January 2022
£

Advances to director
£

Repayments by director
£

At 31 December 2022
£

Director 1: Interest free loan repayable on demand

67,936

67,385

(135,321)

-

Director 2: Interest free loan repayable on demand

68,853

77,028

(145,881)

-

 

136,789

144,413

(281,202)

-

       

 

Transactions with directors

10

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

42,000

42,000

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

70,500

112,500