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REGISTERED NUMBER: 06800980 (England and Wales)















Haptic Architects Ltd

Unaudited Financial Statements

for the Year Ended 30 June 2024






Haptic Architects Ltd (Registered number: 06800980)

Contents of the Financial Statements
for the year ended 30 June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Haptic Architects Ltd

Company Information
for the year ended 30 June 2024







Directors: S J Grady
T R Stokke
T F Haedrich





Registered office: Unit 2 Royle Studios
23-41 Wenlock Road
London
N1 7SG





Registered number: 06800980 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Haptic Architects Ltd (Registered number: 06800980)

Balance Sheet
30 June 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 4 8,359 18,673
Investments 5 161,457 -
169,816 18,673

Current assets
Work in progress 134,686 -
Debtors 6 469,385 875,413
Cash at bank and in hand 6,798 13
610,869 875,426
Creditors
Amounts falling due within one year 7 807,037 679,388
Net current (liabilities)/assets (196,168 ) 196,038
Total assets less current liabilities (26,352 ) 214,711

Creditors
Amounts falling due after more than one
year

8

183,865

206,234
Net (liabilities)/assets (210,217 ) 8,477

Capital and reserves
Called up share capital 10 304 304
Retained earnings 11 (210,521 ) 8,173
Shareholders' funds (210,217 ) 8,477

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Haptic Architects Ltd (Registered number: 06800980)

Balance Sheet - continued
30 June 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 28 March 2025 and were signed on its behalf by:





S J Grady - Director


Haptic Architects Ltd (Registered number: 06800980)

Notes to the Financial Statements
for the year ended 30 June 2024


1. Statutory information

Haptic Architects Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.

Post year end the company has required a cash injection from the Directors who will continue to provide additional support as and when due for a minimum of 12 months from the date of signature. The directors have provided a Letter of Support to confirm this.

Turnover
Turnover represents amounts receivable for architectural and design services net of VAT.

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

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 - 25% on cost

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from the bank and other third parties, loans to related parties, and investment in ordinary shares.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

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.

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.

Fixed asset investments
Investments in group undertakings are recognised at cost.

Haptic Architects Ltd (Registered number: 06800980)

Notes to the Financial Statements - continued
for the year ended 30 June 2024


3. Employees and directors

The average number of employees during the year was 18 (2023 - 32 ) .

4. Tangible fixed assets
Fixtures
and
fittings
£
Cost
At 1 July 2023 66,469
Additions 322
At 30 June 2024 66,791
Depreciation
At 1 July 2023 47,796
Charge for year 10,636
At 30 June 2024 58,432
Net book value
At 30 June 2024 8,359
At 30 June 2023 18,673

5. Fixed asset investments
Shares in
group
undertakings
£
Cost
Additions 161,457
At 30 June 2024 161,457
Net book value
At 30 June 2024 161,457

6. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 277,662 273,916
Amounts owed by group undertakings 84,160 -
Other debtors 107,563 601,497
469,385 875,413

7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank overdrafts 54,544 26,629
Trade creditors 63,073 115,439
Taxation and social security 180,304 284,852
Other creditors 509,116 252,468
807,037 679,388

Haptic Architects Ltd (Registered number: 06800980)

Notes to the Financial Statements - continued
for the year ended 30 June 2024


8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 183,865 206,234

9. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 204,000 204,000
Between one and five years 153,000 357,000
357,000 561,000

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
4 Ordinary £1 4 4
300 Ordinary A £1 300 300
304 304

11. Reserves
Retained
earnings
£

At 1 July 2023 8,173
Deficit for the year (218,694 )
At 30 June 2024 (210,521 )

12. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£ £
S J Grady
Balance outstanding at start of year 57,566 14,171
Amounts advanced 50,337 169,895
Amounts repaid (107,000 ) (126,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 903 57,566

Haptic Architects Ltd (Registered number: 06800980)

Notes to the Financial Statements - continued
for the year ended 30 June 2024


12. Directors' advances, credits and guarantees - continued

T F Haedrich
Balance outstanding at start of year 35,537 16,485
Amounts advanced 72,000 220,552
Amounts repaid (141,000 ) (201,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (33,463 ) 35,537

T R Stokke
Balance outstanding at start of year 83,264 24,546
Amounts advanced 69,077 185,218
Amounts repaid (246,796 ) (126,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (94,455 ) 83,264