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 December 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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and the provisions of FRS102 section 1A - small entities.

Peter Brades Architects Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 3rd Floor, 114a Cromwell Road, London, UK, SW7 4AG.

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 company meets its day to day working capital requirements through an overdraft facility which is repayable on demand. The nature of the company's business is such that there can be considerable variations in the timing of cash inflows although the director expects to operate within the facility currently agreed for the foreseeable future based on the company's future plans. However, the margin of facilities as compared to the company's requirements is not large and inherently there can be no certainty in relation to these matters.true

Having considered the above factors, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the overdraft facility by the company's bankers.

Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Turnover is ordinarily invoiced on completion, as until that point there is no certainly as to whether a project is fully completed and the work performed is recoverable from the client.

Where necessary, adjustment is made for projects ongoing over the year end, with the relevant balance being held either within debtors or creditors as applicable.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company only has financial assets and financial liabilities of a type which would quality as basic. Basic financial instruments are initially recognised at transaction value and are subsequently measured at their settlement value.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

The tax expense represents the sum of the tax currently payable and any deferred tax.

The average monthly number of persons (including directors) employed by the company during the year was:

After the year end the director repaid the loan with a dividend of £13,500.