Registered number
12628241
Sean Payne Arch Design Ltd
Filleted Accounts
31 May 2024
Sean Payne Arch Design Ltd
Registered number: 12628241
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 752 1,003
Current assets
Debtors 4 360 450
Cash at bank and in hand 27,769 43,781
28,129 44,231
Creditors: amounts falling due within one year 5 (7,406) (5,770)
Net current assets 20,723 38,461
Total assets less current liabilities 21,475 39,464
Creditors: amounts falling due after more than one year 6 (10,712) (34,024)
Net assets 10,763 5,440
Capital and reserves
Called up share capital 10 10
Profit and loss account 10,753 5,430
Shareholders' funds 10,763 5,440
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Sean Payne
Director
Approved by the board on 30 December 2024
Sean Payne Arch Design Ltd
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 June 2023 2,166
At 31 May 2024 2,166
Depreciation
At 1 June 2023 1,163
Charge for the year 251
At 31 May 2024 1,414
Net book value
At 31 May 2024 752
At 31 May 2023 1,003
4 Debtors 2024 2023
£ £
Other debtors 360 450
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 7,406 5,770
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 10,712 34,024
7 Other information
Sean Payne Arch Design Ltd is a private company limited by shares and incorporated in England. Its registered office is:
124 City Road
London
EC1V 2NX
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