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COMPANY REGISTRATION NUMBER: 04444740
N C Architects Limited
Filleted Unaudited Abridged Financial Statements
31 March 2024
N C Architects Limited
Abridged Statement of Financial Position
31 March 2024
31 Mar 24
30 Apr 23
Note
£
£
£
Fixed assets
Tangible assets
5
282,613
283,679
Current assets
Work in progress
21,060
58,289
Debtors
329,357
163,090
Cash at bank and in hand
13,148
14,508
---------
---------
363,565
235,887
Creditors: amounts falling due within one year
37,410
107,158
---------
---------
Net current assets
326,155
128,729
---------
---------
Total assets less current liabilities
608,768
412,408
Creditors: amounts falling due after more than one year
169,275
30,833
---------
---------
Net assets
439,493
381,575
---------
---------
Capital and reserves
Called up share capital
1,935
1,935
Revaluation reserve
61,750
61,750
Profit and loss account
375,808
317,890
---------
---------
Shareholders funds
439,493
381,575
---------
---------
These abridged 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 abridged income statement has not been delivered.
For the period ending 31 March 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 abridged financial statements for the period 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 abridged financial statements .
All of the members have consented to the preparation of the abridged income statement and the abridged statement of financial position for the period ending 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.
N C Architects Limited
Abridged Statement of Financial Position (continued)
31 March 2024
These abridged financial statements were approved by the board of directors and authorised for issue on 24 January 2025 , and are signed on behalf of the board by:
Robert Mills
Director
Company registration number: 04444740
N C Architects Limited
Notes to the Abridged Financial Statements
Period from 1 May 2023 to 31 March 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 23 High Street, Wroughton, Swindon, Wiltshire, SN4 9JX.
2. Accounting policies
Basis of preparation
The abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Deferred income is calculated to ensure that income is allocated to the period in which it is earned.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Revenue recognition
The turnover shown in the profit and loss account represents amounts earned during the period, exclusive of Value Added Tax.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Intangible assets
-
33% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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:
Plant and machinery
-
15% reducing balance
Fixtures and fittings
-
15% reducing balance
Computer equipment
-
33% straight line
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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
3. Employee numbers
The average number of persons employed by the company during the period amounted to 4 (2023: 4 ).
4. Intangible assets
£
Cost
At 1 May 2023 and 31 March 2024
140,000
---------
Amortisation
At 1 May 2023 and 31 March 2024
140,000
---------
Carrying amount
At 31 March 2024
---------
At 30 April 2023
---------
5. Tangible assets
£
Cost
At 1 May 2023
435,521
Additions
622
Disposals
( 1)
---------
At 31 March 2024
436,142
---------
Depreciation
At 1 May 2023
151,842
Charge for the period
1,687
---------
At 31 March 2024
153,529
---------
Carrying amount
At 31 March 2024
282,613
---------
At 30 April 2023
283,679
---------