Company registration number SC630731 (Scotland)
Fiddes Architects Ltd
Unaudited financial statements
for the year ended 31 August 2024
Pages for filing with registrar
Fiddes Architects Ltd
Chartered Accountants' report to the director on the preparation of the
unaudited statutory financial statements of Fiddes Architects Ltd
1
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Fiddes Architects Ltd for the year ended 31 August 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the ICAS we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020.
This report is made solely to the director of Fiddes Architects Ltd, in accordance with the terms of our engagement letter dated 23 July 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Fiddes Architects Ltd and state those matters that we have agreed to state to the director of Fiddes Architects Ltd, in this report in accordance with the requirements of the ICAS as detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fiddes Architects Ltd and its director, for our work or for this report.
It is your duty to ensure that Fiddes Architects Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Fiddes Architects Ltd. You consider that Fiddes Architects Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Fiddes Architects Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
James Milne
Chartered Accountants
5 Bon Accord Square
Aberdeen
AB11 6XZ
16 May 2025
Fiddes Architects Ltd
Balance sheet
as at 31 August 2024
31 August 2024
2
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
42,000
49,000
Tangible assets
4
5,100
3,990
47,100
52,990
Current assets
Debtors
18,761
28,528
Cash at bank and in hand
62,280
58,889
81,041
87,417
Creditors: amounts falling due within one year
(56,041)
(47,558)
Net current assets
25,000
39,859
Net assets
72,100
92,849
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
72,000
92,749
Total equity
72,100
92,849
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Fiddes Architects Ltd
Balance sheet (continued)
as at 31 August 2024
31 August 2024
3
The financial statements were approved and signed by the director and authorised for issue on 16 May 2025
Eoghain Fiddes
Director
Company registration number SC630731 (Scotland)
Fiddes Architects Ltd
Notes to the financial statements
for the year ended 31 August 2024
4
1
Accounting policies
Company information
Fiddes Architects Ltd is a private company limited by shares incorporated in Scotland. The registered office is Unit 2, Scott Skinners Square, Banchory, AB31 5SE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Sales represent revenue recognised in the accounts. Revenue is recognised when the business fulfils its contractual obligations to customers by supplying goods and services and excludes value added tax.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% reducing balance
Fixtures and fittings
20% reducing balance
Computers
33% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Fiddes Architects Ltd
Notes to the financial statements (continued)
for the year ended 31 August 2024
1
Accounting policies (continued)
5
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.7
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
4
4
Fiddes Architects Ltd
Notes to the financial statements (continued)
for the year ended 31 August 2024
6
3
Intangible fixed assets
Total
£
Cost
At 1 September 2023 and 31 August 2024
70,000
Amortisation and impairment
At 1 September 2023
21,000
Amortisation charged for the year
7,000
At 31 August 2024
28,000
Carrying amount
At 31 August 2024
42,000
At 31 August 2023
49,000
4
Tangible fixed assets
Total
£
Cost
At 1 September 2023
10,455
Additions
2,416
At 31 August 2024
12,871
Depreciation and impairment
At 1 September 2023
6,465
Depreciation charged in the year
1,306
At 31 August 2024
7,771
Carrying amount
At 31 August 2024
5,100
At 31 August 2023
3,990
5
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
55,714
71,998