Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Paul Seymour Bonnett 30/09/2023 01/05/2007 Yuli Cadney-Toh 23/11/2023 Derek Antony Elliott Emily-Jane Fairclough 14/10/2024 01/05/2017 Mark Peter Edmund Fisher 01/09/2023 Mark Timothy Copeland Jones 01/05/2007 Richard Brian Maddock 01/07/2008 Philippe William James Webber 01/05/2007 31 January 2025 The principal activity of the Company during the financial year continued to be that of chartered architects. 02286464 2024-04-30 02286464 bus:Director1 2024-04-30 02286464 bus:Director2 2024-04-30 02286464 bus:Director4 2024-04-30 02286464 bus:Director5 2024-04-30 02286464 bus:Director6 2024-04-30 02286464 bus:Director7 2024-04-30 02286464 bus:Director8 2024-04-30 02286464 2023-04-30 02286464 core:CurrentFinancialInstruments 2024-04-30 02286464 core:CurrentFinancialInstruments 2023-04-30 02286464 core:Non-currentFinancialInstruments 2024-04-30 02286464 core:Non-currentFinancialInstruments 2023-04-30 02286464 core:ShareCapital 2024-04-30 02286464 core:ShareCapital 2023-04-30 02286464 core:SharePremium 2024-04-30 02286464 core:SharePremium 2023-04-30 02286464 core:RetainedEarningsAccumulatedLosses 2024-04-30 02286464 core:RetainedEarningsAccumulatedLosses 2023-04-30 02286464 core:LeaseholdImprovements 2023-04-30 02286464 core:PlantMachinery 2023-04-30 02286464 core:FurnitureFittings 2023-04-30 02286464 core:OfficeEquipment 2023-04-30 02286464 core:LeaseholdImprovements 2024-04-30 02286464 core:PlantMachinery 2024-04-30 02286464 core:FurnitureFittings 2024-04-30 02286464 core:OfficeEquipment 2024-04-30 02286464 core:CurrentFinancialInstruments 10 2024-04-30 02286464 core:CurrentFinancialInstruments 10 2023-04-30 02286464 bus:OrdinaryShareClass1 2024-04-30 02286464 2023-05-01 2024-04-30 02286464 bus:FilletedAccounts 2023-05-01 2024-04-30 02286464 bus:SmallEntities 2023-05-01 2024-04-30 02286464 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 02286464 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 02286464 bus:Director1 2023-05-01 2024-04-30 02286464 bus:Director2 2023-05-01 2024-04-30 02286464 bus:Director3 2023-05-01 2024-04-30 02286464 bus:Director4 2023-05-01 2024-04-30 02286464 bus:Director5 2023-05-01 2024-04-30 02286464 bus:Director6 2023-05-01 2024-04-30 02286464 bus:Director7 2023-05-01 2024-04-30 02286464 bus:Director8 2023-05-01 2024-04-30 02286464 core:PlantMachinery core:TopRangeValue 2023-05-01 2024-04-30 02286464 core:FurnitureFittings core:TopRangeValue 2023-05-01 2024-04-30 02286464 core:OfficeEquipment core:TopRangeValue 2023-05-01 2024-04-30 02286464 2022-05-01 2023-04-30 02286464 core:LeaseholdImprovements 2023-05-01 2024-04-30 02286464 core:PlantMachinery 2023-05-01 2024-04-30 02286464 core:FurnitureFittings 2023-05-01 2024-04-30 02286464 core:OfficeEquipment 2023-05-01 2024-04-30 02286464 core:Non-currentFinancialInstruments 2023-05-01 2024-04-30 02286464 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 02286464 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 02286464 (England and Wales)

KAY ELLIOTT ARCHITECTS LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

KAY ELLIOTT ARCHITECTS LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

KAY ELLIOTT ARCHITECTS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 April 2024
KAY ELLIOTT ARCHITECTS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 72,043 62,542
72,043 62,542
Current assets
Stocks 28,518 28,587
Debtors 4 720,396 708,956
Cash at bank and in hand 334,503 443,508
1,083,417 1,181,051
Creditors: amounts falling due within one year 5 ( 289,017) ( 297,347)
Net current assets 794,400 883,704
Total assets less current liabilities 866,443 946,246
Creditors: amounts falling due after more than one year 6 ( 16,514) ( 26,610)
Provision for liabilities ( 3,195) ( 3,140)
Net assets 846,734 916,496
Capital and reserves
Called-up share capital 7 10,000 10,000
Share premium account 29,400 29,400
Profit and loss account 807,334 877,096
Total shareholders' funds 846,734 916,496

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Kay Elliott Architects Limited (registered number: 02286464) were approved and authorised for issue by the Board of Directors on 31 January 2025. They were signed on its behalf by:

Richard Brian Maddock
Director
Mark Timothy Copeland Jones
Director
KAY ELLIOTT ARCHITECTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
KAY ELLIOTT ARCHITECTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Kay Elliott Architects Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 5-7 Meadfoot Road, Torquay, Devon, United Kingdom. The registered number of the company is 02286464.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Comprehensive Income in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Leasehold improvements not depreciated
Plant and machinery 4 years straight line
Fixtures and fittings 10 years straight line
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Comprehensive Income over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 38 36

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 May 2023 30,128 221,565 107,930 214,734 574,357
Additions 0 0 10,477 22,007 32,484
At 30 April 2024 30,128 221,565 118,407 236,741 606,841
Accumulated depreciation
At 01 May 2023 0 221,565 98,170 192,080 511,815
Charge for the financial year 0 0 4,871 18,112 22,983
At 30 April 2024 0 221,565 103,041 210,192 534,798
Net book value
At 30 April 2024 30,128 0 15,366 26,549 72,043
At 30 April 2023 30,128 0 9,760 22,654 62,542

4. Debtors

2024 2023
£ £
Trade debtors 553,802 641,419
Prepayments and accrued income 166,594 61,760
Other taxation and social security 0 5,777
720,396 708,956

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,098 9,849
Trade creditors 91,844 44,534
Accruals 39,393 50,467
Taxation and social security 123,062 161,048
Other creditors 24,620 31,449
289,017 297,347

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 16,514 26,610

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
10,000 Ordinary shares of £ 1.00 each 10,000 10,000

8. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2024 2023
£ £
Unpaid contributions due to the fund (inc. in other creditors) 16,628 14,192