7 false false false false false false false false false false true false false false false false false No description of principal activity 2023-11-01 Sage Accounts Production Advanced 2023 - FRS102_2023 17,599 500 18,099 11,526 1,752 13,278 4,821 6,073 xbrli:pure xbrli:shares iso4217:GBP SC309717 2023-11-01 2024-10-31 SC309717 2024-10-31 SC309717 2023-10-31 SC309717 2022-11-01 2023-10-31 SC309717 2023-10-31 SC309717 2022-10-31 SC309717 bus:OrdinaryShareClass1 2023-11-01 2024-10-31 SC309717 bus:Director4 2023-11-01 2024-10-31 SC309717 core:WithinOneYear 2024-10-31 SC309717 core:WithinOneYear 2023-10-31 SC309717 core:ShareCapital 2024-10-31 SC309717 core:ShareCapital 2023-10-31 SC309717 core:RetainedEarningsAccumulatedLosses 2024-10-31 SC309717 core:RetainedEarningsAccumulatedLosses 2023-10-31 SC309717 bus:SmallEntities 2023-11-01 2024-10-31 SC309717 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 SC309717 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 SC309717 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 SC309717 bus:FullAccounts 2023-11-01 2024-10-31 SC309717 bus:OrdinaryShareClass1 2024-10-31 SC309717 bus:OrdinaryShareClass1 2023-10-31 SC309717 core:ComputerEquipment 2023-11-01 2024-10-31 SC309717 core:ComputerEquipment 2023-10-31 SC309717 core:ComputerEquipment 2024-10-31
COMPANY REGISTRATION NUMBER: SC309717
Sinclair Watt Architects Limited
Filleted Unaudited Financial Statements
For the year ended
31 October 2024
Sinclair Watt Architects Limited
Statement of Financial Position
31 October 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
4,821
6,073
Current assets
Stocks
44,105
33,240
Debtors
6
29,294
90,270
Cash at bank and in hand
68,877
50,067
---------
---------
142,276
173,577
Creditors: amounts falling due within one year
7
53,282
68,470
---------
---------
Net current assets
88,994
105,107
--------
---------
Total assets less current liabilities
93,815
111,180
--------
---------
Capital and reserves
Called up share capital
8
100
100
Profit and loss account
93,715
111,080
--------
---------
Shareholders funds
93,815
111,180
--------
---------
These 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 statement of income and retained earnings has not been delivered.
For the year ending 31 October 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 financial statements for the year 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 financial statements .
These financial statements were approved by the board of directors and authorised for issue on 23 April 2025 , and are signed on behalf of the board by:
C H Mackenzie
Director
Company registration number: SC309717
Sinclair Watt Architects Limited
Notes to the Financial Statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Quayside House, Dock Road, Methil Dock Business Park, Methil, Fife, Scotland, KY8 3SR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis. The directors have assessed the Company's ability to continue as a going concern and have reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing these financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Office & computer equipment
-
20% 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.
Stocks
Work in progress is measured by the stage completed at year end based on estimated income for each element of work.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial assets, which include trade and other debtors and cash, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Basic financial liabilities, which include trade and other creditors, are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. At each reporting date the company assesses whether there is objective evidence that any financial asset has been impaired. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due. The amount of the provision is recognised immediately in profit or loss.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2023: 7 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 November 2023
17,599
17,599
Additions
500
500
--------
--------
At 31 October 2024
18,099
18,099
--------
--------
Depreciation
At 1 November 2023
11,526
11,526
Charge for the year
1,752
1,752
--------
--------
At 31 October 2024
13,278
13,278
--------
--------
Carrying amount
At 31 October 2024
4,821
4,821
--------
--------
At 31 October 2023
6,073
6,073
--------
--------
6. Debtors
2024
2023
£
£
Trade debtors
25,234
86,791
Other debtors
4,060
3,479
--------
--------
29,294
90,270
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
4,439
5,083
Social security and other taxes
28,943
38,497
Other creditors
19,900
24,890
--------
--------
53,282
68,470
--------
--------
8. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----