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REGISTERED NUMBER: NI616353 (Northern Ireland)












Like Architects Limited

Unaudited Financial Statements for the Year Ended 31st March 2024






Like Architects Limited (Registered number: NI616353)






Contents of the Financial Statements
for the year ended 31st March 2024




Page

Balance sheet 1

Notes to the financial statements 3


Like Architects Limited (Registered number: NI616353)

Balance Sheet
31st March 2024

2024 2023
Notes £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 23,508 25,182
23,508 25,182

Current assets
Work in progress 6 79,458 88,353
Debtors 7 531,350 250,807
Cash at bank and in hand 833,822 975,292
1,444,630 1,314,452
Creditors
Amounts falling due within one year 8 (231,699 ) (173,385 )
Net current assets 1,212,931 1,141,067
Total assets less current liabilities 1,236,439 1,166,249

Capital and reserves
Called up share capital 9 2 2
Retained earnings 1,236,437 1,166,247
Shareholders' funds 1,236,439 1,166,249

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Like Architects Limited (Registered number: NI616353)

Balance Sheet - continued
31st March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16th December 2024 and were signed on its behalf by:




Mr C Deazley - Director



Mr M A Martin - Director


Like Architects Limited (Registered number: NI616353)

Notes to the Financial Statements
for the year ended 31st March 2024

1. Statutory information

Like Architects Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address are as below:

Registered number: NI616353

Registered office: 3 Linenhall Street West
Belfast
Antrim
BT2 8DY

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% Straight line

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing work in progress to their present location and condition.

Like Architects Limited (Registered number: NI616353)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

2. Accounting policies - continued

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legal enforceable right to set off the recognised amounts and there is an intention 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, 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 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.

Classification of financial liabilities
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.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Like Architects Limited (Registered number: NI616353)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the
ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment, A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

3. Employees and directors

The average number of employees during the year was 17 (2023 - 15 ) .

Like Architects Limited (Registered number: NI616353)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

4. Intangible fixed assets
Goodwill
£   
Cost
At 1st April 2023
and 31st March 2024 150,000
Amortisation
At 1st April 2023
and 31st March 2024 150,000
Net book value
At 31st March 2024 -
At 31st March 2023 -

5. Tangible fixed assets
Fixtures
Long and
leasehold fittings Totals
£    £    £   
Cost
At 1st April 2023 44,755 122,972 167,727
Additions - 7,390 7,390
At 31st March 2024 44,755 130,362 175,117
Depreciation
At 1st April 2023 26,159 116,386 142,545
Charge for year 4,475 4,589 9,064
At 31st March 2024 30,634 120,975 151,609
Net book value
At 31st March 2024 14,121 9,387 23,508
At 31st March 2023 18,596 6,586 25,182

6. Work in progress
2024 2023
£    £   
Work-in-progress 79,458 88,353

7. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 507,148 231,032
Prepayments and accrued income 24,202 19,775
531,350 250,807

Like Architects Limited (Registered number: NI616353)

Notes to the Financial Statements - continued
for the year ended 31st March 2024

8. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 2,546 716
Trade creditors (5,280 ) (5,280 )
Corporation tax 83,583 50,402
Social security and other taxes 8,983 8,698
Pensions Payable 2,521 8,051
VAT 131,214 85,706
Directors' current accounts 163 16,945
Accruals and deferred income 7,969 8,147
231,699 173,385

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2