Company Registration No. 07884313 (England and Wales)
S C ARCHITECTURE LTD
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
S C ARCHITECTURE LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
S C ARCHITECTURE LTD
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,675
2,556
Current assets
Stocks
6,042
12,373
Debtors
4
50,608
49,469
Cash at bank and in hand
151,890
58,880
208,540
120,722
Creditors: amounts falling due within one year
5
(162,740)
(93,793)
Net current assets
45,800
26,929
Total assets less current liabilities
48,475
29,485
Provisions for liabilities
(317)
(299)
Net assets
48,158
29,186
Capital and reserves
Called up share capital
6
250
250
Share premium account
6,450
6,450
Profit and loss reserves
41,458
22,486
Total equity
48,158
29,186
S C ARCHITECTURE LTD
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
31 December 2023
2

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 12 September 2024 and are signed on its behalf by:
Mr M Stephens
Director
Company registration number 07884313 (England and Wales)
S C ARCHITECTURE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
3
1
Accounting policies
Company information

S C Architecture Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Suite A, Anchor House, School Lane, Chandler's Ford, Eastleigh, Hampshire, SO53 4DY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
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.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

S C ARCHITECTURE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies (Continued)
4

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Plant and machinery
33% straight line
Fixtures, fittings and equipment
33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Work in progress is recognised for services performed in the year, but not yet invoiced, and is valued at estimated selling price.

1.5
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

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.

Basic financial liabilities

Basic financial liabilities, including creditors, 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.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

S C ARCHITECTURE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies (Continued)
5
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
4
4
S C ARCHITECTURE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
6
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023
9,698
Additions
2,095
At 31 December 2023
11,793
Depreciation and impairment
At 1 January 2023
7,142
Depreciation charged in the year
1,976
At 31 December 2023
9,118
Carrying amount
At 31 December 2023
2,675
At 31 December 2022
2,556
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
38,845
39,128
Other debtors
11,763
10,341
50,608
49,469
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
42,110
22,659
Taxation and social security
37,792
20,958
Other creditors
82,838
50,176
162,740
93,793
S C ARCHITECTURE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
7
6
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
250 ordinary shares of £1 each
250
250
7
Financial commitments, guarantees and contingent liabilities

The company had total financial commitments, guarantees and contingent liabilities at the Balance Sheet date of £47,471 (2022: £57,329).

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