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Registration number: 04582636

Russ Drage Architects Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2024

image-name
 

Russ Drage Architects Limited

Contents

Company Information

1

Balance Sheet

2 to 3

 

Russ Drage Architects Limited

Company Information

Director

Mr Russell Charles Drage

Company secretary

Mrs Joanne Johnston Drage

Registered office

3 The Offices
10 Fleet Street
Brighton
East Sussex
BN1 4ZE

Accountants

Lucraft Hodgson & Dawes LLP
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

 

Russ Drage Architects Limited

(Registration number: 04582636)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

4

6,272

6,811

Current assets

 

Debtors

5

63,131

98,615

Cash at bank and in hand

 

14,503

15,420

 

77,634

114,035

Creditors: Amounts falling due within one year

6

(77,178)

(71,046)

Net current assets

 

456

42,989

Total assets less current liabilities

 

6,728

49,800

Creditors: Amounts falling due after more than one year

6

(6,518)

(16,616)

Provisions for liabilities

-

(1,703)

Net assets

 

210

31,481

Capital and Reserves

 

Called up share capital

100

100

Retained Earnings

110

31,381

Shareholders' funds

 

210

31,481

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 May 2025
 

 

Russ Drage Architects Limited

(Registration number: 04582636)
Balance Sheet as at 31 October 2024

.........................................
Mr Russell Charles Drage
Director

   
     
 

Russ Drage Architects Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
3 The Offices
10 Fleet Street
Brighton
East Sussex
BN1 4ZE
England

These financial statements were authorised for issue by the director on 22 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

These accounts have been prepared on a going concern basis notwithstanding the company's net liability
position at the balance sheet date. The director is confident that with her continued support, the company
can remain in operational existence for the foreseeable future.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Russ Drage Architects Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipments

Reducing Balance - 25%

Furniture and fittings

Reducing Balance - 25%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Russ Drage Architects Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 4).

 

Russ Drage Architects Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4

Tangible Assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 November 2023

45,541

45,541

Additions

1,512

1,512

At 31 October 2024

47,053

47,053

Depreciation

At 1 November 2023

38,701

38,701

Charge for the year

2,080

2,080

At 31 October 2024

40,781

40,781

Carrying amount

At 31 October 2024

6,272

6,272

At 31 October 2023

6,811

6,811

5

Debtors

Current

2024
£

2023
£

Trade Debtors

36,160

89,812

Prepayments

-

21

Other debtors

26,971

8,782

 

63,131

98,615

 

Russ Drage Architects Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

25,163

10,349

Trade Creditors

 

19,284

19,250

Taxation and social security

 

24,281

37,291

Accruals and deferred income

 

4,520

2,700

Other creditors

 

3,930

1,456

 

77,178

71,046

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

6,518

16,616

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

6,518

16,616

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

Bank overdrafts

15,163

-

Other borrowings

-

349

25,163

10,349

 

Russ Drage Architects Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

8

Related party transactions

Loans to related parties

2024

Key management
£

Total
£

Advanced

1,803

1,803

At end of period

1,803

1,803

2023

Key management
£

Total
£

At start of period

27,022

27,022

Advanced

16,890

16,890

Repaid

(43,912)

(43,912)

At end of period

-

-

Loans from related parties

2024

Key management
£

Total
£

At start of period

350

350

Repaid

(350)

(350)

At end of period

-

-

2023

Key management
£

Total
£

Advanced

350

350

At end of period

350

350