Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Mr M A Alker Stone 31/10/2005 Mr P Bevan 30/04/2024 26/04/2004 Mrs K L Brown 01/05/2016 Mr T S Forster 18/12/2020 Mr J D Furse 01/05/2015 Mr S J Hatcher 02/09/2024 Mr C E T Jordan 01/05/2016 Mr N J Mulholland 01/05/2010 Mr J W Oksien 01/05/2024 Mr D Perkin 01/05/2007 21 October 2024 The principal activity of the Company during the financial year was that of an architectural practice, providing architecture, master planning and interior design services. 03489253 2024-04-30 03489253 bus:Director1 2024-04-30 03489253 bus:Director2 2024-04-30 03489253 bus:Director3 2024-04-30 03489253 bus:Director4 2024-04-30 03489253 bus:Director5 2024-04-30 03489253 bus:Director6 2024-04-30 03489253 bus:Director7 2024-04-30 03489253 bus:Director8 2024-04-30 03489253 bus:Director9 2024-04-30 03489253 bus:Director10 2024-04-30 03489253 2023-04-30 03489253 core:CurrentFinancialInstruments 2024-04-30 03489253 core:CurrentFinancialInstruments 2023-04-30 03489253 core:Non-currentFinancialInstruments 2024-04-30 03489253 core:Non-currentFinancialInstruments 2023-04-30 03489253 core:ShareCapital 2024-04-30 03489253 core:ShareCapital 2023-04-30 03489253 core:SharePremium 2024-04-30 03489253 core:SharePremium 2023-04-30 03489253 core:CapitalRedemptionReserve 2024-04-30 03489253 core:CapitalRedemptionReserve 2023-04-30 03489253 core:RetainedEarningsAccumulatedLosses 2024-04-30 03489253 core:RetainedEarningsAccumulatedLosses 2023-04-30 03489253 core:ComputerSoftware 2023-04-30 03489253 core:ComputerSoftware 2024-04-30 03489253 core:LeaseholdImprovements 2023-04-30 03489253 core:Vehicles 2023-04-30 03489253 core:FurnitureFittings 2023-04-30 03489253 core:ComputerEquipment 2023-04-30 03489253 core:LeaseholdImprovements 2024-04-30 03489253 core:Vehicles 2024-04-30 03489253 core:FurnitureFittings 2024-04-30 03489253 core:ComputerEquipment 2024-04-30 03489253 core:CurrentFinancialInstruments core:Secured 2024-04-30 03489253 core:DeferredTaxation 2023-04-30 03489253 core:OtherProvisionsContingentLiabilities 2023-04-30 03489253 core:DeferredTaxation 2024-04-30 03489253 core:OtherProvisionsContingentLiabilities 2024-04-30 03489253 core:AcceleratedTaxDepreciationDeferredTax 2024-04-30 03489253 core:AcceleratedTaxDepreciationDeferredTax 2023-04-30 03489253 core:TaxLossesCarry-forwardsDeferredTax 2024-04-30 03489253 core:TaxLossesCarry-forwardsDeferredTax 2023-04-30 03489253 core:OtherDeferredTax 2024-04-30 03489253 core:OtherDeferredTax 2023-04-30 03489253 bus:OrdinaryShareClass1 2024-04-30 03489253 core:WithinOneYear 2024-04-30 03489253 core:WithinOneYear 2023-04-30 03489253 core:BetweenOneFiveYears 2024-04-30 03489253 core:BetweenOneFiveYears 2023-04-30 03489253 core:MoreThanFiveYears 2024-04-30 03489253 core:MoreThanFiveYears 2023-04-30 03489253 2023-05-01 2024-04-30 03489253 bus:FilletedAccounts 2023-05-01 2024-04-30 03489253 bus:SmallEntities 2023-05-01 2024-04-30 03489253 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 03489253 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03489253 bus:Director1 2023-05-01 2024-04-30 03489253 bus:Director2 2023-05-01 2024-04-30 03489253 bus:Director3 2023-05-01 2024-04-30 03489253 bus:Director4 2023-05-01 2024-04-30 03489253 bus:Director5 2023-05-01 2024-04-30 03489253 bus:Director6 2023-05-01 2024-04-30 03489253 bus:Director7 2023-05-01 2024-04-30 03489253 bus:Director8 2023-05-01 2024-04-30 03489253 bus:Director9 2023-05-01 2024-04-30 03489253 bus:Director10 2023-05-01 2024-04-30 03489253 core:ComputerSoftware core:TopRangeValue 2023-05-01 2024-04-30 03489253 core:Vehicles 2023-05-01 2024-04-30 03489253 core:FurnitureFittings 2023-05-01 2024-04-30 03489253 core:ComputerEquipment core:TopRangeValue 2023-05-01 2024-04-30 03489253 2022-05-01 2023-04-30 03489253 core:ComputerSoftware 2023-05-01 2024-04-30 03489253 core:LeaseholdImprovements 2023-05-01 2024-04-30 03489253 core:ComputerEquipment 2023-05-01 2024-04-30 03489253 core:CurrentFinancialInstruments 2023-05-01 2024-04-30 03489253 core:Non-currentFinancialInstruments 2023-05-01 2024-04-30 03489253 core:DeferredTaxation 2023-05-01 2024-04-30 03489253 core:OtherProvisionsContingentLiabilities 2023-05-01 2024-04-30 03489253 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 03489253 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 03489253 (England and Wales)

ATKINS WALTERS & WEBSTER LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

ATKINS WALTERS & WEBSTER LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

ATKINS WALTERS & WEBSTER LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 April 2024
ATKINS WALTERS & WEBSTER LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 57,527 145,379
Tangible assets 4 344,044 320,220
401,571 465,599
Current assets
Stocks 5,737 3,511
Debtors
- due within one year 5 1,812,797 1,967,749
- due after more than one year 5 43,100 43,100
Cash at bank and in hand 791,272 694,628
2,652,906 2,708,988
Creditors: amounts falling due within one year 6 ( 1,728,140) ( 1,884,016)
Net current assets 924,766 824,972
Total assets less current liabilities 1,326,337 1,290,571
Creditors: amounts falling due after more than one year 7 ( 4,830) ( 75,860)
Provision for liabilities 8 ( 231,180) ( 130,205)
Net assets 1,090,327 1,084,506
Capital and reserves
Called-up share capital 9 41,375 42,575
Share premium account 51,890 51,890
Capital redemption reserve 14,125 12,925
Profit and loss account 982,937 977,116
Total shareholder's funds 1,090,327 1,084,506

For the financial year ending 30 April 2024 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 Atkins Walters & Webster Limited (registered number: 03489253) were approved and authorised for issue by the Board of Directors on 21 October 2024. They were signed on its behalf by:

Mrs K L Brown
Director
ATKINS WALTERS & WEBSTER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
ATKINS WALTERS & WEBSTER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
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

Atkins Walters & Webster 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 Pivot + Mark, 48 - 52 Baldwin Street, Bristol, BS1 1QB, 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 Statement of Financial Position 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.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Comprehensive Income 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 Statement of Financial Position.

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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 Statement of Financial Position 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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software 3 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line/reducing balance basis over its expected useful life, as follows:

Leasehold improvements depreciated over the life of the lease
Vehicles 25 % reducing balance
Fixtures and fittings 15 % reducing balance
Computer equipment 4 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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Comprehensive Income over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

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 Statement of Financial Position 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.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 65 62

3. Intangible assets

Computer software Total
£ £
Cost
At 01 May 2023 348,209 348,209
Disposals ( 19,282) ( 19,282)
At 30 April 2024 328,927 328,927
Accumulated amortisation
At 01 May 2023 202,830 202,830
Charge for the financial year 87,852 87,852
Disposals ( 19,282) ( 19,282)
At 30 April 2024 271,400 271,400
Net book value
At 30 April 2024 57,527 57,527
At 30 April 2023 145,379 145,379

4. Tangible assets

Leasehold improve-
ments
Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost
At 01 May 2023 445,308 12,850 188,015 399,424 1,045,597
Additions 32,165 0 8,566 101,311 142,042
Disposals 0 ( 12,850) ( 19,455) ( 84,319) ( 116,624)
At 30 April 2024 477,473 0 177,126 416,416 1,071,015
Accumulated depreciation
At 01 May 2023 257,026 11,210 119,873 337,268 725,377
Charge for the financial year 65,333 273 10,417 35,857 111,880
Disposals 0 ( 11,483) ( 14,484) ( 84,319) ( 110,286)
At 30 April 2024 322,359 0 115,806 288,806 726,971
Net book value
At 30 April 2024 155,114 0 61,320 127,610 344,044
At 30 April 2023 188,282 1,640 68,142 62,156 320,220

5. Debtors

2024 2023
£ £
Debtors: amounts falling due within one year
Trade debtors 1,336,471 1,507,324
Amounts recoverable on contracts 141,805 168,381
Prepayments 329,497 286,176
Other debtors 5,024 5,868
1,812,797 1,967,749
Debtors: amounts falling due after more than one year
Other debtors 43,100 43,100

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans (secured) 46,367 167,187
Trade creditors 268,794 187,051
Amounts owed to directors 0 260,812
Accruals 325,079 433,589
Taxation and social security 399,260 336,697
Payments received on account 508,786 456,551
Obligations under finance leases and hire purchase contracts (secured) 24,662 22,904
Other creditors 155,192 19,225
1,728,140 1,884,016

Bank loans are secured by way of a fixed and floating charge over the assets of the company.

Obligations under finance leases and hire purchase contracts are secured against the assets to which they relate.

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 0 46,367
Obligations under finance leases and hire purchase contracts (secured) 4,830 29,493
4,830 75,860

Bank loans are secured by way of a fixed and floating charge over the assets of the company.

Obligations under finance leases and hire purchase contracts are secured against the assets to which they relate.

8. Provision for liabilities

Deferred taxation Other Total
£ £ £
At 01 May 2023 36,863 93,342 130,205
Charged to the Statement of Comprehensive Income 44,585 56,390 100,975
At 30 April 2024 81,448 149,732 231,180

The other provisions is made up of a WIP provision and a property provision.

WIP provision: amounts relating to onerous architectural contracts, as well as contractual costs not yet performed, and are expected to reverse in the next twelve months.

Property provision: for all reasonable property liabilities, relates to loss making contractual commitments of the company across all its properties. In accordance with section 21.17 of FRS 102, further disclosure has not been made as the directors consider this would be prejudicial to the company.

Deferred tax

2024 2023
£ £
Accelerated capital allowances 86,065 104,245
Tax losses available ( 2,880) ( 66,066)
Other timing differences ( 1,737) ( 1,316)
Provision for deferred tax 81,448 36,863

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
41,375 Ordinary shares of £ 1.00 each (2023: 42,575 shares of £ 1.00 each) 41,375 42,575

During the year, 1,200 shares were repurchased for £29,376 and then cancelled.

10. Financial commitments

Commitments

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

2024 2023
£ £
within one year 435,343 431,277
between one and five years 903,976 1,041,983
after five years 0 56,128
1,339,319 1,529,388

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2024 2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 6,947 5,267

11. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts due to the directors 0 260,812

At the year end an amount of £nil (2023: £260,812) was owed from the company to the directors. Interest totalling £6,560 (2023: £21,603) was charged on the loans during the year.

During the year, an employee ownership trust acquired all the shares in Atkins Walter & Webster Limited. A gift of £316,171 was made to the employee ownership trust during the year, out of retained earnings.