Phillips Tracey Architects Ltd

	Page
Balance Sheet	1
Notes to the Financial Statements	2—3

Registered number: 04423899

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		265,260		259,154

			265,260		259,154
CURRENT ASSETS
Debtors	5	39,095		58,584
Cash at bank and in hand		510		44,548

		39,605		103,132
Creditors: Amounts Falling Due Within One Year	6	(153,991 )		(202,979 )

NET CURRENT ASSETS (LIABILITIES)			(114,386 )		(99,847 )

TOTAL ASSETS LESS CURRENT LIABILITIES			150,874		159,307

NET ASSETS			150,874		159,307

CAPITAL AND RESERVES
Called up share capital	7		100		100
Profit and Loss Account			150,774		159,207

SHAREHOLDERS' FUNDS			150,874		159,307

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Brendan Tracey

Director

14/10/2024

The notes on pages 2 to 3 form part of these financial statements.

1. General Information

Phillips Tracey Architects Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04423899 . The registered office is 1 Times Court, Retreat Road, Richmond, TW9 1AF.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

Presentation Currency

The accounts are presented in £ sterling.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	None
Leasehold	10% reducing balance
Plant & Machinery	25% reducing balance
Fixtures & Fittings	25% reducing balance
Computer Equipment	25% reducing balance

2.4. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2024: 3)

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Phillips Tracey Architects Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Tangible Assets

	Land & Property
	Freehold	Leasehold	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 April 2024	250,000	1,111	29,411	73,472	353,994
Additions	-	543	3,935	5,420	9,898

As at 31 March 2025	250,000	1,654	33,346	78,892	363,892

Depreciation
As at 1 April 2024	-	1,111	25,599	68,130	94,840
Provided during the period	-	45	1,571	2,176	3,792

As at 31 March 2025	-	1,156	27,170	70,306	98,632

Net Book Value
As at 31 March 2025	250,000	498	6,176	8,586	265,260

As at 1 April 2024	250,000	-	3,812	5,342	259,154

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	36,069	55,647
Prepayments and accrued income	2,926	2,837
Other debtors	100	100

	39,095	58,584

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	83	2,387
Bank loans and overdrafts	138,340	145,148
Corporation tax	-	24,350
VAT	3,418	19,141
Net wages	281	539
Other creditors	529	-
Directors' loan accounts	11,340	11,414

	153,991	202,979

7. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

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