Registered number
07237960
Plum Architects Limited
Unaudited Filleted Accounts
31 May 2024
Plum Architects Limited
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Chartered Accountants' report 3
Balance sheet 4
Notes to the accounts 5
Plum Architects Limited
Company Information
Directors
R M Bullen
Mrs D Bullen
Accountants
Cochrane & Co Accountants Limited
38 Kings Road
Lee-on-the-Solent
Hampshire
PO13 9NU
Registered office
8 Westcliff Close
Lee-on-the-Solent
Hampshire
PO13 9JS
Registered number
07237960
Plum Architects Limited
Registered number: 07237960
Directors' Report
The directors present their report and accounts for the year ended 31 May 2024.
Principal activities
The company's principal activity during the year continued to be that of architectural services.
Directors
The following persons served as directors during the year:
R M Bullen
Mrs D Bullen
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 7 August 2024 and signed on its behalf.
R M Bullen
Director
Plum Architects Limited
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Plum Architects Limited for the year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Plum Architects Limited for the year ended 31 May 2024 which comprise of the Profit and Loss Account, the Balance Sheet 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 the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
Cochrane & Co Accountants Limited
Chartered Accountants
38 Kings Road
Lee-on-the-Solent
Hampshire
PO13 9NU
19 August 2024
Plum Architects Limited
Registered number: 07237960
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 45,022 47,437
Current assets
Debtors 5 29,551 28,796
Cash at bank and in hand 14,644 3,445
44,195 32,241
Creditors: amounts falling due within one year 6 (44,359) (35,743)
Net current liabilities (164) (3,502)
Total assets less current liabilities 44,858 43,935
Creditors: amounts falling due after more than one year 7 (8,077) (7,494)
Provisions for liabilities (1,907) (1,706)
Net assets 34,874 34,735
Capital and reserves
Called up share capital 100 100
Profit and loss account 34,774 34,635
Shareholders' funds 34,874 34,735
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R M Bullen
Director
Approved by the board on 7 August 2024
Plum Architects Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office improvements 5% straight line
Plant and machinery 20-25% straight line
Motor vehicles 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Goodwill
Goodwill, was previously amortised over it's useful economic life of twenty years. The directors now believe that the original assessment of economic life was incorrect and it should have been five years. As the business was incorporated in April 2010, the remaining goodwill was written off in the 2015 accounts.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2023 95,000
At 31 May 2024 95,000
Amortisation
At 1 June 2023 95,000
At 31 May 2024 95,000
Net book value
At 31 May 2024 -
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 June 2023 50,353 21,894 13,820 86,067
Additions - - 10,681 10,681
Disposals - - (13,820) (13,820)
At 31 May 2024 50,353 21,894 10,681 82,928
Depreciation
At 1 June 2023 11,894 18,746 7,990 38,630
Charge for the year 2,518 2,078 2,670 7,266
On disposals - - (7,990) (7,990)
At 31 May 2024 14,412 20,824 2,670 37,906
Net book value
At 31 May 2024 35,941 1,070 8,011 45,022
At 31 May 2023 38,459 3,148 5,830 47,437
5 Debtors 2024 2023
£ £
Trade debtors 28,187 26,807
Other debtors 1,364 1,989
29,551 28,796
6 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 1,427 1,560
Corporation tax 14,639 10,173
Other taxes and social security costs 13,561 12,247
Other creditors 14,732 11,763
44,359 35,743
7 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 8,077 7,494
8 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 16,275 25,152
9 Controlling party
The company is controlled by R M Bullen.
10 Other information
Plum Architects Limited is a private company limited by shares and incorporated in England. Its registered office is:
8 Westcliff Close
Lee-on-the-Solent
Hampshire
PO13 9JS
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