Company registration number 02310702 (England and Wales)
PETER BRADES ARCHITECTS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
PETER BRADES ARCHITECTS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
PETER BRADES ARCHITECTS LTD
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
6,703
5,633
Cash at bank and in hand
2,922
12,159
9,625
17,792
Creditors: amounts falling due within one year
5
(8,229)
(10,436)
Net current assets
1,396
7,356
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
396
6,356
Total equity
1,396
7,356

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 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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 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 the provisions of FRS102 section 1A - small entities.

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

The financial statements were approved and signed by the director and authorised for issue on 25 September 2024
P E Brades
Director
Company registration number 02310702 (England and Wales)
PETER BRADES ARCHITECTS LTD
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Peter Brades Architects Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 3rd Floor, 114a Cromwell Road, London, SW7 4AG.

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 £.

1.2
Going concern

The company meets its day to day working capital requirements through an overdraft facility which is repayable on demand. The nature of the company's business is such that there can be considerable variations in the timing of cash inflows although the director expects to operate within the facility currently agreed for the foreseeable future based on the company's future plans. However, the margin of facilities as compared to the company's requirements is not large and inherently there can be no certainty in relation to these matters.true

 

Having considered the above factors, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the overdraft facility by the company's bankers.

1.3
Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Turnover is ordinarily invoiced on completion, as until that point there is no certainly as to whether a project is fully completed and the work performed is recoverable from the client.

 

Where necessary, adjustment is made for projects ongoing over the year end, with the relevant balance being held either within debtors or creditors as applicable.

Fixtures & Fittings
20% on a reducing balance basis
Equipment
33% on a straight line basis
1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

The company only has financial assets and financial liabilities of a type which would quality as basic. Basic financial instruments are initially recognised at transaction value and are subsequently measured at their settlement value.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.5
Taxation

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

PETER BRADES ARCHITECTS LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
2
Employees

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

2023
2022
Number
Number
Total
-
0
-
0
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 and 31 December 2023
20,389
Depreciation and impairment
At 1 January 2023 and 31 December 2023
20,389
Carrying amount
At 31 December 2023
-
0
At 31 December 2022
-
0
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
-
0
1,193
Other debtors
6,703
4,440
6,703
5,633
5
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
2,238
3,362
Other taxation and social security
978
2,061
Other creditors
5,013
5,013
8,229
10,436
6
Directors' transactions
PETER BRADES ARCHITECTS LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
6
Directors' transactions
(Continued)
- 4 -

Opening balance £Nil

 

Plus loans made in the period (advances) £17,500

 

Less dividends declared in the period £15,500

 

Closing balance £2,000

 

After the year end the director paid off the directors loan with a further dividend of £2,000

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Directors loan account
-
-
17,500
(15,500)
2,000
-
17,500
(15,500)
2,000
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