3DReid Manchester Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10561746 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2019

for

3DReid Manchester Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R C Graham-Marr

M H Taylor

N Speakes

E McLaren

REGISTERED OFFICE:

26 Cross Street

Manchester

M2 7AQ

REGISTERED NUMBER:

10561746 (England and Wales)

ACCOUNTANTS:

McLay McAlister & McGibbon LLP

Chartered Accountants

145 St Vincent Street

Glasgow

G2 5JF

FIXED ASSETS

Tangible assets

4

1,236

1,011

CURRENT ASSETS

Stocks

48,500

46,000

Debtors

5

452,023

328,339

Cash at bank and in hand

10,474

10,607

510,997

384,946

CREDITORS

Amounts falling due within one year

6

(477,946

)

(380,264

)

NET CURRENT ASSETS

33,051

4,682

TOTAL ASSETS LESS CURRENT LIABILITIES

34,287

5,693

CAPITAL AND RESERVES

Called up share capital

80

80

Retained earnings

34,207

5,613

34,287

5,693

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 June 2020 and were signed on its behalf by:

M H Taylor - Director

1.	STATUTORY INFORMATION

3DReid Manchester Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Critical accounting judgements and estimates

The preparation of these financial statements requires the directors to make judgements, estimates and

assumptions that affect the application of policies and reported amounts of assets and liabilities, income and

expenses. Judgements and estimates are continually evaluated and are based on historical experiences and other

factors, including expectations of future events that are believed to be reasonable under the circumstances.

The company makes estimates and assumptions concerning the future. The estimates and assumptions that have a

significant risk of causing a material adjustment to the carrying amounts of asset and liabilities within the next

financial year are discussed below:

Work in Progress

Work in progress is valued at cost of all direct expenditure plus attributable fixed and variable overheads less

any provision for foreseeable losses.

Revenue Recognition

Revenue is recognised to the extent that it is probable that the financial benefits will flow to the company and the

revenue can be readily measured. Turnover from the fees for architectural services is recognised by reference to

stage payments. The stage of where a contract is at is determined either by reference to the estimate of the fee

drawdown, evaluation of the proportion of fees in relation to milestones and the proportion of WIP valued,

depending on the nature of the underlying contract.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an

on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual

value.

Financial instruments

Debtors

Trade debtors and other debtors are recognised at the settlement amount due with appropriate allowances for any

irrecoverable amounts when there is objective evidence the asset is impaired.

Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash at bank and in hand.

Creditors

Trade creditors and other creditors are recognised where the company has a present obligation resulting from a

past event and are recognised at the settlement amount due after allowing for any trade discounts due.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Going concern

The company manages its business with suitable financial KPI's in place to identify and secure workload,

monitor resources, profitability and cashflow. Due to the current economic climate arising from Covid-19 the

Directors recognise that there are certain matters that might influence the business that are out with the

company's control. The Directors are therefore monitoring the Covid-19 situation and managing its effect on the

business on a continuous basis.

Given the information presented, and the continuing support of the parent company, the Directors continue to

adopt a going concern basis in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2018 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2018

1,517

Additions

876

At 31 October 2019

2,393

DEPRECIATION

At 1 November 2018

506

Charge for year

651

At 31 October 2019

1,157

NET BOOK VALUE

At 31 October 2019

1,236

At 31 October 2018

1,011

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.10.18

£

£

Trade debtors

405,880

303,782

Other debtors

46,143

24,557

452,023

328,339

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.10.18

£

£

Trade creditors

21,653

32,398

Amounts owed to group undertakings

378,452

263,083

Taxation and social security

35,820

39,853

Other creditors

42,021

44,930

477,946

380,264

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.10.19

31.10.18

£

£

Within one year

71,785

67,950

Between one and five years

48,309

113,250

120,094

181,200

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

9.	ULTIMATE PARENT COMPANY

The ultimate parent company is 3DReid (Group) Limited.