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Registration number: 03275169

Grainge Architects Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Grainge Architects Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 12

 

Grainge Architects Limited

Company Information

Directors

J E G Brookes

A R Pollintine

R Franklin

A Field

Registered office

The Boat Shed
Haven Banks
Exeter
Devon
EX2 8DD

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Grainge Architects Limited
for the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Grainge Architects Limited for the year ended 31 December 2024 as set out on pages 3 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Grainge Architects Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Grainge Architects Limited and state those matters that we have agreed to state to the Board of Directors of Grainge Architects Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Grainge Architects Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Grainge Architects Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Grainge Architects Limited. You consider that Grainge Architects Limited 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 accounts of Grainge Architects Limited. 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 accounts.

......................................

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

31 July 2025

 

Grainge Architects Limited

(Registration number: 03275169)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

4,590

7,024

Tangible assets

5

103,418

86,909

 

108,008

93,933

Current assets

 

Debtors

6

389,069

542,463

Cash at bank and in hand

 

369,219

278,680

 

758,288

821,143

Creditors: Amounts falling due within one year

7

(285,371)

(342,932)

Net current assets

 

472,917

478,211

Total assets less current liabilities

 

580,925

572,144

Creditors: Amounts falling due after more than one year

7

(34,500)

(70,500)

Provisions for liabilities

(24,976)

(21,101)

Net assets

 

521,449

480,543

Capital and reserves

 

Called up share capital

18,000

18,000

Capital redemption reserve

49,250

49,250

Retained earnings

454,199

413,293

Shareholders' funds

 

521,449

480,543

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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.

Approved and authorised by the Board on 31 July 2025 and signed on its behalf by:
 

 

Grainge Architects Limited

(Registration number: 03275169)
Balance Sheet as at 31 December 2024

.........................................
J E G Brookes
Director

.........................................
A R Pollintine
Director

 

Grainge Architects Limited

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

1

General information

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

The address of its registered office is:
The Boat Shed
Haven Banks
Exeter
Devon
EX2 8DD

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.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Grainge Architects Limited

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

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

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 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

Land and Buildings

10 % straight line

Plant and Machinery

20 % reducing balance

Fixtures and Equipment

20% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Intangible assets

Intangible assets are stated in the balance sheet at cost, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

The cost of intangible assets includes directly attributable incremental costs incurred in their acquisition.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Not amortised

Website

33.3% straight line

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.

 

Grainge Architects Limited

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

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.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Grainge Architects Limited

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

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 directors) during the year, was 31 (2023 - 30).

 

Grainge Architects Limited

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

4

Intangible assets

Goodwill
 £

Other intangible assets
 £

Total
£

Cost or valuation

At 1 January 2024

150,000

7,308

157,308

At 31 December 2024

150,000

7,308

157,308

Amortisation

At 1 January 2024

150,000

284

150,284

Amortisation charge

-

2,434

2,434

At 31 December 2024

150,000

2,718

152,718

Carrying amount

At 31 December 2024

-

4,590

4,590

At 31 December 2023

-

7,024

7,024

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2024

151,393

203,612

13,144

368,149

Additions

4,659

39,457

-

44,116

At 31 December 2024

156,052

243,069

13,144

412,265

Depreciation

At 1 January 2024

131,693

143,615

5,932

281,240

Charge for the year

2,781

23,383

1,443

27,607

At 31 December 2024

134,474

166,998

7,375

308,847

Carrying amount

At 31 December 2024

21,578

76,071

5,769

103,418

At 31 December 2023

19,700

59,997

7,212

86,909

Included within the net book value of land and buildings above is £21,578 (2023 - £19,700) in respect of long leasehold land and buildings.
 

 

Grainge Architects Limited

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

6

Debtors

2024
£

2023
£

Trade debtors

276,708

390,170

Other debtors

58,741

125,515

Prepayments and accrued income

53,620

26,778

Total current trade and other debtors

389,069

542,463

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

36,000

42,000

Trade creditors

 

395

13,678

Taxation and social security

 

209,650

226,262

Other creditors

 

36,826

57,181

Accrued expenses

 

2,500

3,811

 

285,371

342,932

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

34,500

70,500

Creditors include bank loans and overdrafts which are secured of £70,500 (2023 - £112,500).

Security is given by means of a fixed and floating charge over the assets of the company.

 

Grainge Architects Limited

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

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

36,000

42,000

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

34,500

70,500

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £153,437 (2023 - £133,258). The company has operating lease commitments falling payable within one year of £66,589 (2023 - £50,097).

 

Grainge Architects Limited

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

10

Related party transactions

Transactions with directors

2024

At 1 January 2024
£

Advances to director
£

Repayments by director
£

At 31 December 2024
£

Director 1: Interest free loan repayable on demand

-

46,228

(34,282)

11,946

Director 2: Interest free loan repayable on demand

-

45,134

(33,188)

11,946

-

91,362

(67,470)

23,892