Poynton Bradbury Wynter Cole Architects Limited - Period Ending 2015-03-31

Registration number: 03070792

Poynton Bradbury Wynter Cole Architects Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Poynton Bradbury Wynter Cole Architects Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

Poynton Bradbury Wynter Cole Architects Limited
(Registration number: 03070792)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					62,400			78,000
Tangible fixed assets					859,745			894,294
					922,145			972,294
Current assets
Debtors					142,775			106,751
Cash at bank and in hand					168,378			85,445
					311,153			192,196
Creditors: Amounts falling due within one year					(327,838)			(264,633)
Net current liabilities					(16,685)			(72,437)
Total assets less current liabilities					905,460			899,857
Creditors: Amounts falling due after more than one year					(674,744)			(653,277)
Provisions for liabilities					(9,855)			(19,133)
Net assets					220,861			227,447
Capital and reserves
Called up share capital		4			1,000			1,000
Profit and loss account					219,861			226,447
Shareholders' funds					220,861			227,447

For the year ending 31 March 2015 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Approved by the Board on 3 July 2015 and signed on its behalf by:

.........................................
Mrs R G Gaunt
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
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Poynton Bradbury Wynter Cole Architects Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of services to customers.

Government grants

Grants received in respect of equipment are held in the balance sheet as deferred income and are released to the profit and loss account at the same rate as the assets are depreciated over their useful economic lives.

Goodwill

Goodwill , arising on the acquisition of the business, represents the excess of the fair value of consideration over the fair value of identifiable assets and liabilities acquired.

It is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

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

As required by the FRSSE 2008, the directors have reviewed the residual value and the useful economic life for goodwill and, as a result, have revised its useful economic life with effect from 1 April 2014. The revision was accounted for prospectively as a change in accounting estimates and, as a result, the amortisation charge for the current financial year has been increased by £9,100.

Asset class	Amortisation method and rate
Goodwill	20% on straight line basis

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

As required by the FRSSE 2008, the directors have reviewed the residual values and the useful economic life of the company's fixed assets and, as a result, have revised the estimated useful life of office equipment and buildings with effect from 1 April 2014. The revision was accounted for prospectively as a change in acounting estimates and, as a result, the depreciation charges for the current year have been increased by £16,727 and £11,000.

Land is not depreciated.

Asset class	Depreciation method and rate
Office equipment	25% on straight line basis
Motor vehicles	20% on reducing balance basis
Buildings	2% on straight line basis

Deferred tax

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Poynton Bradbury Wynter Cole Architects Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2014		130,000			924,993			1,054,993
Additions		-			10,697			10,697
At 31 March 2015		130,000			935,690			1,065,690
Depreciation
At 1 April 2014		52,000			30,699			82,699
Charge for the year		15,600			45,246			60,846
At 31 March 2015		67,600			75,945			143,545
Net book value
At 31 March 2015		62,400			859,745			922,145
At 31 March 2014		78,000			894,294			972,294

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		28,249			28,249
Amounts falling due after more than one year		322,456			333,843
Total secured creditors		350,705			362,092

Included in the creditors are the following amounts due after more than five years:

		2015 £			2014 £
After more than five years not by instalments		480,219			-

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Poynton Bradbury Wynter Cole Architects Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		1,000			1,000			1,000			1,000

5	Related party transactions

Directors' advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
Mr P D Cole
Net funds repaid	-	-	74,250	-
Net funds injected	5,000	-	-	-
	5,000	-	74,250	-
Mr S K Burgess
Net funds repaid	-	-	14,250	-
Net funds injected	5,000	-	-	-
	5,000	-	14,250	-
Mrs R G Gaunt
Net funds repaid	-	-	14,250	-
Net funds injected	5,000	-	-	-
	5,000	-	14,250	-
Mr C P Spowart
	-	-	-	-

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