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2023-06-01
2024-05-31
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2024-05-31
COMPANY REGISTRATION NUMBER:
10783739
Twenty 20 Architecture Limited |
|
Filleted Unaudited Financial Statements |
|
Twenty 20 Architecture Limited |
|
Year ended 31 May 2024
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements |
1 |
|
|
Statement of financial position |
2 |
|
|
Notes to the financial statements |
4 |
|
|
Twenty 20 Architecture Limited |
|
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
Twenty 20 Architecture Limited |
|
Year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Twenty 20 Architecture Limited for the year ended 31 May 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.
PORTER GARLAND
Chartered accountants
Communication House
Victoria Avenue
Camberley
Surrey
GU15 3HX
15 October 2024
Twenty 20 Architecture Limited |
|
Statement of Financial Position |
|
31 May 2024
Fixed assets
Tangible assets |
5 |
|
3,115 |
|
1,517 |
Investments |
6 |
|
460 |
|
450 |
|
|
------- |
|
------- |
|
|
3,575 |
|
1,967 |
|
|
|
|
|
|
Current assets
Debtors |
7 |
188,113 |
|
154,351 |
|
Cash at bank and in hand |
91,642 |
|
111,388 |
|
|
--------- |
|
--------- |
|
|
279,755 |
|
265,739 |
|
|
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
116,848 |
|
104,348 |
|
|
--------- |
|
--------- |
|
Net current assets |
|
162,907 |
|
161,391 |
|
|
--------- |
|
--------- |
Total assets less current liabilities |
|
166,482 |
|
163,358 |
|
|
|
|
|
|
Provisions |
|
779 |
|
288 |
|
|
--------- |
|
--------- |
Net assets |
|
165,703 |
|
163,070 |
|
|
--------- |
|
--------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
300 |
|
300 |
Profit and loss account |
|
165,403 |
|
162,770 |
|
|
--------- |
|
--------- |
Shareholders funds |
|
165,703 |
|
163,070 |
|
|
--------- |
|
--------- |
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 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 financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Twenty 20 Architecture Limited |
|
Statement of Financial Position (continued) |
|
31 May 2024
These financial statements were approved by the
board of directors
and authorised for issue on
15 October 2024
, and are signed on behalf of the board by:
Mr C A De Oliveira |
Director |
|
Company registration number:
10783739
Twenty 20 Architecture Limited |
|
Notes to the Financial Statements |
|
Year ended 31 May 2024
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Communication House, Victoria Avenue, Camberley, Surrey, GU15 3HX.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises the value of sales, net of VAT, of services provided in the normal course of business. Turnover is recognised by reference to the invoice date as this is the point at which the risks and rewards pass to the customer.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixtures and fittings |
- |
25% straight line |
|
Equipment |
- |
25% straight line |
|
|
|
|
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
6
(2023:
7
).
5.
Tangible assets
|
Fixtures and fittings |
Equipment |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 1 June 2023 |
6,910 |
3,245 |
10,155 |
Additions |
– |
2,916 |
2,916 |
|
------- |
------- |
-------- |
At 31 May 2024 |
6,910 |
6,161 |
13,071 |
|
------- |
------- |
-------- |
Depreciation |
|
|
|
At 1 June 2023 |
5,616 |
3,022 |
8,638 |
Charge for the year |
914 |
404 |
1,318 |
|
------- |
------- |
-------- |
At 31 May 2024 |
6,530 |
3,426 |
9,956 |
|
------- |
------- |
-------- |
Carrying amount |
|
|
|
At 31 May 2024 |
380 |
2,735 |
3,115 |
|
------- |
------- |
-------- |
At 31 May 2023 |
1,294 |
223 |
1,517 |
|
------- |
------- |
-------- |
|
|
|
|
6.
Investments
|
Shares in group undertakings |
|
£ |
Cost |
|
At 1 June 2023 |
450 |
Additions |
10 |
|
---- |
At 31 May 2024 |
460 |
|
---- |
Impairment |
|
At 1 June 2023 and 31 May 2024 |
– |
|
---- |
|
|
Carrying amount |
|
At 31 May 2024 |
460 |
|
---- |
At 31 May 2023 |
450 |
|
---- |
|
|
7.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
183,134 |
141,237 |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
1,492 |
9,592 |
Other debtors |
3,487 |
3,522 |
|
--------- |
--------- |
|
188,113 |
154,351 |
|
--------- |
--------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Trade creditors |
6,486 |
6,967 |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
2,232 |
360 |
Social security and other taxes |
101,943 |
91,125 |
Other creditors |
6,187 |
5,896 |
|
--------- |
--------- |
|
116,848 |
104,348 |
|
--------- |
--------- |
|
|
|
9.
Directors' advances, credits and guarantees
The directors loan account is not disclosed as permitted under Section 1A of FRS 102.