3 01/03/2023 28/02/2024 2024-02-28 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-03-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 13899728 2023-03-01 2024-02-28 13899728 2024-02-28 13899728 2023-02-28 13899728 2022-03-01 2023-02-28 13899728 2023-02-28 13899728 2022-02-28 13899728 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-28 13899728 core:MotorVehicles 2023-03-01 2024-02-28 13899728 bus:Director1 2023-03-01 2024-02-28 13899728 bus:Director2 2023-03-01 2024-02-28 13899728 core:FurnitureFittingsToolsEquipment 2023-02-28 13899728 core:MotorVehicles 2023-02-28 13899728 core:FurnitureFittingsToolsEquipment 2024-02-28 13899728 core:MotorVehicles 2024-02-28 13899728 core:ShareCapital 2022-03-01 2023-02-28 13899728 core:RetainedEarningsAccumulatedLosses 2022-03-01 2023-02-28 13899728 core:RetainedEarningsAccumulatedLosses 2023-03-01 2024-02-28 13899728 core:WithinOneYear 2024-02-28 13899728 core:WithinOneYear 2023-02-28 13899728 core:ShareCapital 2024-02-28 13899728 core:ShareCapital 2023-02-28 13899728 core:RetainedEarningsAccumulatedLosses 2024-02-28 13899728 core:RetainedEarningsAccumulatedLosses 2023-02-28 13899728 core:PreviouslyStatedAmount core:ShareCapital 2024-02-28 13899728 core:FurnitureFittingsToolsEquipment 2023-02-28 13899728 core:MotorVehicles 2023-02-28 13899728 bus:Director1 2023-02-28 13899728 bus:Director1 2024-02-28 13899728 bus:Director2 2023-02-28 13899728 bus:Director2 2024-02-28 13899728 bus:Director1 2023-02-28 13899728 bus:Director2 2023-02-28 13899728 bus:Director1 2022-03-01 2023-02-28 13899728 bus:Director2 2022-03-01 2023-02-28 13899728 bus:SmallEntities 2023-03-01 2024-02-28 13899728 bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 13899728 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 13899728 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 13899728 bus:FullAccounts 2023-03-01 2024-02-28
Company registration number: 13899728
O/R Studio Architects Ltd
Unaudited filleted financial statements
28 February 2024
O/R Studio Architects Ltd
Contents
Statement of financial position
Statement of changes in equity
Notes to the financial statements
O/R Studio Architects Ltd
Statement of financial position
28 February 2024
28/02/24 28/02/23
Note £ £ £ £
Fixed assets
Tangible assets 5 10,995 2,790
_______ _______
10,995 2,790
Current assets
Debtors 6 21,979 26,841
Cash at bank and in hand 129,280 56,138
_______ _______
151,259 82,979
Creditors: amounts falling due
within one year 7 ( 101,278) ( 69,532)
_______ _______
Net current assets 49,981 13,447
_______ _______
Total assets less current liabilities 60,976 16,237
_______ _______
Net assets 60,976 16,237
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 60,974 16,235
_______ _______
Shareholders funds 60,976 16,237
_______ _______
For the year ending 28 February 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.
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 income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 12 August 2024 , and are signed on behalf of the board by:
Mr O Brener Mr R C Reynolds
Director Director
Company registration number: 13899728
O/R Studio Architects Ltd
Statement of changes in equity
Year ended 28 February 2024
Called up share capital Profit and loss account
£ £
At 1 March 2022 - -
Profit for the year 91,235
_______ _______
Total comprehensive income for the year - 91,235
Issue of shares 2
Dividends paid and payable ( 75,000)
_______ _______
Total investments by and distributions to owners 2 ( 75,000)
_______ _______
At 28 February 2023 and 1 March 2023 2 16,235
Profit for the year 119,739
_______ _______
Total comprehensive income for the year - 119,739
Dividends paid and payable ( 75,000)
_______ _______
Total investments by and distributions to owners - ( 75,000)
_______ _______
At 28 February 2024 2 60,974
_______ _______
O/R Studio Architects Ltd
Notes to the financial statements
Year ended 28 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Brooklands House, 58 Marlborough Road, Lancing, West Sussex, BN15 8AF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Fittings fixtures and equipment - 25 % straight line
Motor vehicles - 20 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 2 ).
5. Tangible assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1 March 2023 722 2,498 3,220
Additions 10,061 - 10,061
_______ _______ _______
At 28 February 2024 10,783 2,498 13,281
_______ _______ _______
Depreciation
At 1 March 2023 180 250 430
Charge for the year 1,356 500 1,856
_______ _______ _______
At 28 February 2024 1,536 750 2,286
_______ _______ _______
Carrying amount
At 28 February 2024 9,247 1,748 10,995
_______ _______ _______
At 28 February 2023 542 2,248 2,790
_______ _______ _______
6. Debtors
28/02/24 28/02/23
£ £
Trade debtors 19,194 26,641
Other debtors 2,785 200
_______ _______
21,979 26,841
_______ _______
7. Creditors: amounts falling due within one year
28/02/24 28/02/23
£ £
Corporation tax 35,198 20,520
Social security and other taxes 8,721 6,863
Other creditors 57,359 42,149
_______ _______
101,278 69,532
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
Year ended 28/02/24
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr O Brener ( 19,032) ( 9,742) ( 28,774)
Mr R C Reynolds ( 20,767) ( 7,040) ( 27,807)
_______ _______ _______
( 39,799) ( 16,782) ( 56,581)
_______ _______ _______
Period ended 28/02/23
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr O Brener - ( 19,032) ( 19,032)
Mr R C Reynolds - ( 20,767) ( 20,767)
_______ _______ _______
- ( 39,799) ( 39,799)
_______ _______ _______