Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Duncan Alexander Finch 26/10/2023 01/05/2014 Fiona Lamb 01/01/2019 Andrew Mckeown 01/01/2019 Adrian Miles 01/01/2019 Andrew Phillips 01/01/2019 Amir Ramezani 03/08/2010 30 September 2024 The principal activity of the Company during the financial year was providing architectural services. 06502119 2023-12-31 06502119 bus:Director1 2023-12-31 06502119 bus:Director2 2023-12-31 06502119 bus:Director3 2023-12-31 06502119 bus:Director4 2023-12-31 06502119 bus:Director5 2023-12-31 06502119 bus:Director6 2023-12-31 06502119 2022-12-31 06502119 core:CurrentFinancialInstruments 2023-12-31 06502119 core:CurrentFinancialInstruments 2022-12-31 06502119 core:ShareCapital 2023-12-31 06502119 core:ShareCapital 2022-12-31 06502119 core:CapitalRedemptionReserve 2023-12-31 06502119 core:CapitalRedemptionReserve 2022-12-31 06502119 core:RetainedEarningsAccumulatedLosses 2023-12-31 06502119 core:RetainedEarningsAccumulatedLosses 2022-12-31 06502119 core:LandBuildings 2022-12-31 06502119 core:OtherPropertyPlantEquipment 2022-12-31 06502119 core:LandBuildings 2023-12-31 06502119 core:OtherPropertyPlantEquipment 2023-12-31 06502119 core:CostValuation 2022-12-31 06502119 core:CostValuation 2023-12-31 06502119 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2023-12-31 06502119 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2022-12-31 06502119 bus:OrdinaryShareClass1 2023-12-31 06502119 bus:OrdinaryShareClass2 2023-12-31 06502119 bus:OrdinaryShareClass3 2023-12-31 06502119 core:WithinOneYear 2023-12-31 06502119 core:WithinOneYear 2022-12-31 06502119 core:BetweenOneFiveYears 2023-12-31 06502119 core:BetweenOneFiveYears 2022-12-31 06502119 2023-01-01 2023-12-31 06502119 bus:FilletedAccounts 2023-01-01 2023-12-31 06502119 bus:SmallEntities 2023-01-01 2023-12-31 06502119 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 06502119 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06502119 bus:Director1 2023-01-01 2023-12-31 06502119 bus:Director2 2023-01-01 2023-12-31 06502119 bus:Director3 2023-01-01 2023-12-31 06502119 bus:Director4 2023-01-01 2023-12-31 06502119 bus:Director5 2023-01-01 2023-12-31 06502119 bus:Director6 2023-01-01 2023-12-31 06502119 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 06502119 2022-01-01 2022-12-31 06502119 core:LandBuildings 2023-01-01 2023-12-31 06502119 core:CurrentFinancialInstruments 2023-01-01 2023-12-31 06502119 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 06502119 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 06502119 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 06502119 bus:OrdinaryShareClass2 2022-01-01 2022-12-31 06502119 bus:OrdinaryShareClass3 2023-01-01 2023-12-31 06502119 bus:OrdinaryShareClass3 2022-01-01 2022-12-31 06502119 1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 06502119 (England and Wales)

AVANTI ARCHITECTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

AVANTI ARCHITECTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

AVANTI ARCHITECTS LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
AVANTI ARCHITECTS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS Duncan Alexander Finch (Resigned 26 October 2023)
Fiona Lamb
Andrew Mckeown
Adrian Miles
Andrew Phillips
Amir Ramezani
SECRETARY Amir Ramezani
REGISTERED OFFICE 25 Chart Street
London
N1 6FA
England
United Kingdom
COMPANY NUMBER 06502119 (England and Wales)
ACCOUNTANT Praxis
1 Poultry
London
EC2R 8EJ
United Kingdom
AVANTI ARCHITECTS LIMITED

BALANCE SHEET

As at 31 December 2023
AVANTI ARCHITECTS LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 47,286 55,919
Investments 4 1 1
47,287 55,920
Current assets
Debtors 5 842,657 1,313,442
Cash at bank and in hand 6 1,503,242 1,083,194
2,345,899 2,396,636
Creditors: amounts falling due within one year 7 ( 735,315) ( 949,872)
Net current assets 1,610,584 1,446,764
Total assets less current liabilities 1,657,871 1,502,684
Provision for liabilities 8 ( 7,708) ( 9,487)
Net assets 1,650,163 1,493,197
Capital and reserves
Called-up share capital 9 1,150 1,300
Capital redemption reserve 12,350 12,200
Profit and loss account 1,636,663 1,479,697
Total shareholders' funds 1,650,163 1,493,197

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 financial statements of Avanti Architects Limited (registered number: 06502119) were approved and authorised for issue by the Board of Directors on 30 September 2024. They were signed on its behalf by:

Amir Ramezani
Director
AVANTI ARCHITECTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
AVANTI ARCHITECTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Avanti Architects Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 25 Chart Street, London, N1 6FA, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is stated net of VAT and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and it is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

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 fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings depreciated over the life of the lease
Plant and machinery etc. 15 - 33 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 20 23

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 January 2023 30,446 144,572 175,018
Additions 0 3,195 3,195
At 31 December 2023 30,446 147,767 178,213
Accumulated depreciation
At 01 January 2023 893 118,206 119,099
Charge for the financial year 5,142 6,686 11,828
At 31 December 2023 6,035 124,892 130,927
Net book value
At 31 December 2023 24,411 22,875 47,286
At 31 December 2022 29,553 26,366 55,919

4. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 January 2023 1
At 31 December 2023 1
Carrying value at 31 December 2023 1
Carrying value at 31 December 2022 1

5. Debtors

2023 2022
£ £
Trade debtors 396,717 900,445
Amounts owed by Group undertakings 5,225 0
Other debtors 440,715 412,997
842,657 1,313,442

6. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 1,503,242 1,083,194

7. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 159,367 233,587
Amounts owed to own subsidiaries 0 77,261
Taxation and social security 220,366 165,679
Other creditors 355,582 473,345
735,315 949,872

There are no amounts included above in respect of which any security has been given by the small entity.

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

8. Provision for liabilities

2023 2022
£ £
Deferred tax 7,708 9,487

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
900 Ordinary shares of £ 1.00 each (2022: 1,000 shares of £ 1.00 each) 900 1,000
100 Founder 2 ordinary shares of £ 1.00 each 100 100
150 Founder 3 ordinary shares of £ 1.00 each (2022: 200 shares of £ 1.00 each) 150 200
1,150 1,300

During the year, the company purchased and cancelled 150 shares for a total consideration of £156,050.

10. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2023 2022
£ £
within one year 115,000 95,833
between one and five years 297,083 412,083
412,083 507,916

11. Events after the Balance Sheet date

There have been no events after the balance sheet date affecting the Company since the financial year.