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WILL + PARTNERS ARCHITECTURE LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2024
Will + Partners Architecture Limited is a private company limited by shares, incorporated in the England and Wales under Companies Act 2006. The registered office and pricipal trading address is given on the Company Information page.
The current period was extended to eighteen months to align it with the accounts of its parent company and therefore is not fully comparable with the previous one month period.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The Company has ceased to trade as at the the previous period end. Therefore, the directors have prepared the financial statements on a basis other than going concern. No adjustments arose as a result of this change.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and
the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or
receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue for consultancy and other services is recognised by reference to the stage of completion. Stage of
completion is measured by reference to labour hours and related costs incurred to date, as a percentage of
total estimated labour hours and other related costs for each contract. Where the contract outcome cannot be
measured reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
Where contracts are expected to have outturn losses, the losses are recognised in full immediately as onerous
contracts.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
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