Silverfin false 04 October 2024 04 October 2024 Nikinder Baller Praxis 19,534 388,329 false true 31/12/2023 01/01/2023 31/12/2023 S Barrett 01/01/2016 I Birtles 24/09/2004 E L Grut I W Harbour 30/03/1993 J Mcelgunn 01/01/2016 T Meller 01/01/2016 R T Paul 02/05/2000 S J B Smithson 05/07/2011 G C Stirk A J Tyley 01/01/2016 Ian Birtles 04 October 2024 The principal activity of the company remained that of architects and design consultants. The work undertaken by the practice covers the full range of architecture services: working on master planning, the design and construction of residential schemes, commercial office developments, museums and transportation infrastructure. 01407699 2023-12-31 01407699 bus:Director1 2023-12-31 01407699 bus:Director2 2023-12-31 01407699 bus:Director4 2023-12-31 01407699 bus:Director5 2023-12-31 01407699 bus:Director6 2023-12-31 01407699 bus:Director7 2023-12-31 01407699 bus:Director8 2023-12-31 01407699 bus:Director10 2023-12-31 01407699 2022-12-31 01407699 core:CurrentFinancialInstruments 2023-12-31 01407699 core:CurrentFinancialInstruments 2022-12-31 01407699 core:ShareCapital 2023-12-31 01407699 core:ShareCapital 2022-12-31 01407699 core:RetainedEarningsAccumulatedLosses 2023-12-31 01407699 core:RetainedEarningsAccumulatedLosses 2022-12-31 01407699 core:LandBuildings 2022-12-31 01407699 core:LandBuildings 2023-12-31 01407699 core:CostValuation 2022-12-31 01407699 core:CostValuation 2023-12-31 01407699 core:OtherMembersGroupNotDefinedElsewhere core:CurrentFinancialInstruments 2023-12-31 01407699 core:OtherMembersGroupNotDefinedElsewhere core:CurrentFinancialInstruments 2022-12-31 01407699 bus:OrdinaryShareClass1 2023-12-31 01407699 2023-01-01 2023-12-31 01407699 bus:FilletedAccounts 2023-01-01 2023-12-31 01407699 bus:SmallEntities 2023-01-01 2023-12-31 01407699 bus:Audited 2023-01-01 2023-12-31 01407699 2022-01-01 2022-12-31 01407699 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01407699 bus:Director1 2023-01-01 2023-12-31 01407699 bus:Director2 2023-01-01 2023-12-31 01407699 bus:Director3 2023-01-01 2023-12-31 01407699 bus:Director4 2023-01-01 2023-12-31 01407699 bus:Director5 2023-01-01 2023-12-31 01407699 bus:Director6 2023-01-01 2023-12-31 01407699 bus:Director7 2023-01-01 2023-12-31 01407699 bus:Director8 2023-01-01 2023-12-31 01407699 bus:Director9 2023-01-01 2023-12-31 01407699 bus:Director10 2023-01-01 2023-12-31 01407699 bus:Director11 2023-01-01 2023-12-31 01407699 core:LandBuildings core:TopRangeValue 2023-01-01 2023-12-31 01407699 core:LandBuildings 2023-01-01 2023-12-31 01407699 core:Subsidiary1 2023-01-01 2023-12-31 01407699 core:Subsidiary1 1 2023-01-01 2023-12-31 01407699 core:Subsidiary1 1 2022-01-01 2022-12-31 01407699 core:Subsidiary2 2023-01-01 2023-12-31 01407699 core:Subsidiary2 1 2023-01-01 2023-12-31 01407699 core:Subsidiary2 1 2022-01-01 2022-12-31 01407699 core:CurrentFinancialInstruments 2023-01-01 2023-12-31 01407699 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 01407699 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 01407699 1 2023-01-01 2023-12-31 01407699 1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure decimalUnit xbrli:shares

Company No: 01407699 (England and Wales)

RSHP ARCHITECTS LIMITED

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

RSHP ARCHITECTS LIMITED

Financial Statements

For the financial year ended 31 December 2023

Contents

RSHP ARCHITECTS LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
RSHP ARCHITECTS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS S Barrett
I Birtles
E L Grut
I W Harbour
J Mcelgunn
T Meller
R T Paul
S J B Smithson
G C Stirk
A J Tyley
SECRETARY J E Pencakowski
REGISTERED OFFICE Level 14
The Leadenhall Building
122 Leadenhall Street
London
EC3V 4AB
England
United Kingdom
COMPANY NUMBER 01407699 (England and Wales)
AUDITOR Praxis
1 Poultry
London
EC2R 8EJ
BANKERS HSBC Bank Plc
Kings Mall
King Street
Hammersith
London
W6 0QF
RSHP ARCHITECTS LIMITED

BALANCE SHEET

As at 31 December 2023
RSHP ARCHITECTS LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 137,852 143,052
Investments 4 6,385,789 6,385,789
6,523,641 6,528,841
Current assets
Debtors 5 4,023,239 5,315,378
Cash at bank and in hand 6 30,219 24,940
4,053,458 5,340,318
Creditors: amounts falling due within one year 7 ( 6,439,720) ( 7,713,765)
Net current liabilities (2,386,262) (2,373,447)
Total assets less current liabilities 4,137,379 4,155,394
Provision for liabilities 8 ( 332,553) ( 332,553)
Net assets 3,804,826 3,822,841
Capital and reserves
Called-up share capital 9 1,000 1,000
Profit and loss account 3,803,826 3,821,841
Total shareholder's funds 3,804,826 3,822,841

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of RSHP Architects Limited (registered number: 01407699) were approved and authorised for issue by the Board of Directors on 04 October 2024. They were signed on its behalf by:

Ian Birtles
Director
RSHP ARCHITECTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
RSHP 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

RSHP 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 Level 14, The Leadenhall Building, 122 Leadenhall Street, London, EC3V 4AB, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 Company is dependent on group companies for all of its income. The group's forecasts and projections show that RSHP Group Limited and its subsidiaries are able to operate within the level of their current facilities.

Therefore, the directors have a reasonable expectation that the group and Company have adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

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 Profit and Loss Account 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 trade discounts 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 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.

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 50 years straight line

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

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 Profit and Loss Account. 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 10 10

3. Tangible assets

Land and buildings Total
£ £
Cost
At 01 January 2023 260,062 260,062
At 31 December 2023 260,062 260,062
Accumulated depreciation
At 01 January 2023 117,010 117,010
Charge for the financial year 5,200 5,200
At 31 December 2023 122,210 122,210
Net book value
At 31 December 2023 137,852 137,852
At 31 December 2022 143,052 143,052

4. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 January 2023 4,231
At 31 December 2023 4,231
Carrying value at 31 December 2023 4,231
Carrying value at 31 December 2022 4,231

Other investments Total
£ £
Cost or valuation before impairment
At 01 January 2023 6,381,558 6,381,558
At 31 December 2023 6,381,558 6,381,558
Carrying value at 31 December 2023 6,381,558 6,381,558
Carrying value at 31 December 2022 6,381,558 6,381,558

Other investments represent the company's capital investment in RSHP LLP of which the company is a corporate member, and is held at cost less impairment because the fair value cannot be measured reliably.

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
31.12.2023
Ownership
31.12.2022
RSHP Ireland Limited c/o BDO, 5th Floor, Beaux Lane House, Mercer Street Lower, D02 DH60, Dublin 2, Ireland Dormant Ordinary 100.00% 100.00%
RSHP France Sarl* c/o BDO 43-47 Avenue de la Grande Armée, 75116 Paris, France Project management services Ordinary 100.00% 100.00%

* Held indirectly by RSHP Ireland Limited

5. Debtors

2023 2022
£ £
Amounts owed by Group undertakings 2,968,230 4,236,925
Amounts owed by joint ventures 1,006 8,028
Amounts owed by connected persons 82,863 113,788
Deferred tax asset 477,980 379,621
Other debtors 493,160 577,016
4,023,239 5,315,378

6. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 30,219 24,940

7. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 22,311 17,390
Amounts owed to Group undertakings 12,855 12,855
Amounts owed to joint ventures 12,134 0
Amounts owed to connected persons 5,097,067 5,726,386
Other creditors 1,295,353 1,957,134
6,439,720 7,713,765

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

8. Provision for liabilities

2023 2022
£ £
Other provisions 332,553 332,553

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000

10. Financial commitments

The Company had no material capital commitments at the year ended 31 December 2023.

11. Contingencies

Contingent liabilities

A cross guarantee has been given to HSBC Bank plc regarding the banking facilities provided to the company and the following entities, RSHP Group Limited, RSHP Holdings Limited and RSHP LLP.

12. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2023 2022
£ £
Amounts due (to)/from joint ventures (11,128) 8,028
Amounts due from entities in which the entity itself has a participating interest 82,863 113,788
Fees payable to associates (816,293) (2,312,772)
Amounts due from/(to) entities in which the entity itself has a participating interest (5,092,836) (5,722,156)
Other (4,231) (4,231)

Amounts due from joint ventures and from entities in which the Company has a participating interest are unsecured, repayable on demand and do not bear interest. Loans from from entities in which the Company has a participating interest are unsecured, repayable on demand and do not bear interest.

13. Events after the Balance Sheet date

On 1 January 2024 RSHP Architects assumed the majority of its assets, liabilities and business of a company under common control.

14. Audit Opinion

The auditor's report on the accounts for the financial year ended 31 December 2023 was unqualified.

The audit report was signed by Nikinder Baller on behalf of Praxis.

15. Ultimate controlling party

Parent Company:

RSHP Group Limited
Level 14, The Leadenhall Building, 122 Leadenhall Street, London, United Kingdom, EC3V 4AB

The parent company produces group accounts and copies of these can be obtained from Companies House, Crown Way, Cardiff.