Company No: 05306388 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2022		2021
		£		£
Fixed assets
Tangible assets	3	8,627		8,135
		8,627		8,135
Current assets
Debtors	4	166,129		93,963
Cash at bank and in hand		96,087		162,265
		262,216		256,228
Creditors
Amounts falling due within one year	5	( 172,769)		( 143,495)
Net current assets		89,447		112,733
Total assets less current liabilities		98,074		120,868
Creditors
Amounts falling due after more than one year	6	( 38,075)		( 50,000)
Provision for liabilities		( 632)		( 320)
Net assets		59,367		70,548
Capital and reserves
Called-up share capital		200		200
Profit and loss account		59,167		70,348
Total shareholders' funds		59,367		70,548

For the financial year ending 31 March 2022 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 financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Gillespie Yunnie Architects Limited (registered number: 05306388) were approved and authorised for issue by the Board of Directors on 01 November 2022. They were signed on its behalf by:

J Gillespie Director

P P A Yunnie Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Gillespie Yunnie Architects Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Lower Tweed Mill Shinners Bridge, Dartington, Totnes, TQ9 6JB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery	4 years straight line
Fixtures and fittings	4 years straight line
Office equipment	4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2022		2021
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	7		7

3. Tangible assets

	Plant and machinery		Fixtures and fittings		Office equipment		Total
	£		£		£		£
Cost
At 01 April 2021	0		12,758		60,073		72,831
Additions	749		964		3,547		5,260
Disposals	0		0		( 1,093)		( 1,093)
At 31 March 2022	749		13,722		62,527		76,998
Accumulated depreciation
At 01 April 2021	0		12,290		52,406		64,696
Charge for the financial year	172		445		4,151		4,768
Disposals	0		0		( 1,093)		( 1,093)
At 31 March 2022	172		12,735		55,464		68,371
Net book value
At 31 March 2022	577		987		7,063		8,627
At 31 March 2021	0		468		7,667		8,135

4. Debtors

	2022		2021
	£		£
Trade debtors	110,654		82,795
Corporation tax	18,671		0
Other debtors	36,804		11,168
	166,129		93,963

5. Creditors: amounts falling due within one year

	2022		2021
	£		£
Bank loans	9,567		0
Trade creditors	3,086		4,771
Corporation tax	29,591		22,557
Other taxation and social security	40,279		65,871
Other creditors	90,246		50,296
	172,769		143,495

6. Creditors: amounts falling due after more than one year

	2022		2021
	£		£
Bank loans	38,075		50,000

7. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2022		2021
	£		£
- within one year	4,376		0
- between one and five years	4,741		0
	9,117		0