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Registration number: 13908831

Seb & Fin Architects Ltd

Annual Report and Unaudited Financial Statements

for the Period from 1 March 2023 to 31 March 2024

image-name
 

Seb & Fin Architects Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Seb & Fin Architects Ltd

Company Information

Directors

Mr Sebouh Kouyoumjian

Mr Mark James Finney

Registered office

Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

Accountants

Lucraft Hodgson & Dawes LLP
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

 

Seb & Fin Architects Ltd

(Registration number: 13908831)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

4

700

279

Current assets

 

Debtors

5

26,469

7,304

Cash at bank and in hand

 

51,050

6,797

 

77,519

14,101

Creditors: Amounts falling due within one year

6

(30,045)

(13,678)

Net current assets

 

47,474

423

Total assets less current liabilities

 

48,174

702

Provisions for liabilities

(133)

(53)

Net assets

 

48,041

649

Capital and Reserves

 

Called up share capital

100

100

Retained Earnings

47,941

549

Shareholders' funds

 

48,041

649

For the financial period ending 31 March 2024 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 period 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 October 2024 and signed on its behalf by:
 

.........................................
Mr Sebouh Kouyoumjian
Director

.........................................
Mr Mark James Finney
Director

 
     
 

Seb & Fin Architects Ltd

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 31 March 2024

1

General information

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

The address of its registered office is:
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF
United Kingdom

These financial statements were authorised for issue by the Board on 2 October 2024.

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.

 

Seb & Fin Architects Ltd

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Office Equipment

20% Reducing balance

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.

 

Seb & Fin Architects Ltd

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 31 March 2024

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2023 - 2).

 

Seb & Fin Architects Ltd

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 31 March 2024

4

Tangible Assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2023

349

349

Additions

615

615

At 31 March 2024

964

964

Depreciation

At 1 March 2023

70

70

Charge for the period

194

194

At 31 March 2024

264

264

Carrying amount

At 31 March 2024

700

700

At 28 February 2023

279

279

5

Debtors

Current

2024
£

2023
£

Prepayments

1,625

790

Other debtors

24,844

6,514

 

26,469

7,304

 

Seb & Fin Architects Ltd

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 31 March 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

710

5,812

Trade Creditors

 

60

13

Taxation and social security

 

28,395

7,028

Accruals and deferred income

 

880

825

 

30,045

13,678

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

710

5,812

 

Seb & Fin Architects Ltd

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 31 March 2024

8

Related party transactions

Loans to related parties

2024

Key management
£

Total
£

At start of period

4,864

4,864

At end of period

4,864

4,864

2023

Key management
£

Total
£

Advanced

4,864

4,864

At end of period

4,864

4,864

Terms of loans to related parties

During the year, the company advanced a loan to a director. The loan was interest free and repaid following the balance sheet date.
 

Loans from related parties

2024

Key management
£

Total
£

At start of period

5,812

5,812

Advanced

(5,102)

(5,102)

At end of period

710

710

2023

Key management
£

Total
£

Advanced

5,812

5,812

At end of period

5,812

5,812

Terms of loans from related parties

During the year, the director made a loan to the company. The loan was interest free, unsecured and repayable on demand.