F J Samuely and Partners Limited - Period Ending 2021-06-30
F J Samuely and Partners Limited - Period Ending 2021-06-30
Registration number:
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F J Samuely and Partners Limited
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Brebners
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F J Samuely and Partners Limited
Contents
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Company Information |
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Statement of Financial Position |
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Notes to the Financial Statements |
F J Samuely and Partners Limited
Company Information
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Directors |
A P Rimoldi S J Hutchinson S S Patel |
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Registered office |
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Auditor |
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F J Samuely and Partners Limited
Statement of Financial Position as at 30 June 2021
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Note |
2021 |
2020 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
( |
( |
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Provisions for liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
2,001 |
2,001 |
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Profit and loss account |
(225,776) |
(250,027) |
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Shareholders' deficit |
(223,775) |
(248,026) |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.
Approved and authorised by the
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S S Patel
Director
Company registration number: 03924834
F J Samuely and Partners Limited
Notes to the Financial Statements for the Year Ended 30 June 2021
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is a long established professional structural engineering practice based in Central London.
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Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
Going concern
The company made a profit after tax for the year ended 30 June 2021 and had net liabilities of £223,775 at 30 June 2021.
The directors have considered the potential impact of COVID-19 which was declared a pandemic by the World Health Organisation on 11 March 2020 and, although there is no certainty as to when it will end, the director’s view is that the impact is manageable. The company has been able to continue trading during the pandemic restrictions. The company has restructured its operations to ensure more efficiencies within the business, which has resulted in reduced costs.
The directors have considered the cashflow requirements of the company forecasts for the next 12 months, which demonstrates that the company has sufficient working capital for a period exceeding 12 months from the approval of the financial statements. Further to this, a letter of support from its ultimate parent undertaking has been obtained showing continued support for a period exceeding 12 months from the approval of the financial statements.
On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
F J Samuely and Partners Limited
Notes to the Financial Statements for the Year Ended 30 June 2021
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the company and specific criteria have been met for each of the company’s activities.
Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Plant and machinery |
25% reducing balance |
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Fixtures and fittings |
25% reducing balance |
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Furniture |
25% reducing balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
F J Samuely and Partners Limited
Notes to the Financial Statements for the Year Ended 30 June 2021
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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Audit Report |
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Staff numbers |
The average number of persons employed by the company during the year, was
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Tangible assets |
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Furniture, fixtures and fittings |
Property, plant and equipment |
Total |
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Cost or valuation |
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At 1 July 2020 |
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At 30 June 2021 |
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Depreciation |
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At 1 July 2020 |
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Charge for the year |
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At 30 June 2021 |
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Carrying amount |
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At 30 June 2021 |
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At 30 June 2020 |
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F J Samuely and Partners Limited
Notes to the Financial Statements for the Year Ended 30 June 2021
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Debtors |
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2021 |
2020 |
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Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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2021 |
2020 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the statement of financial position
The total amount of financial commitments not included in the statement of financial position is £
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Related party transactions |
Summary of transactions with parent and fellow subsidiaries
In accordance with FRS 102 paragraph 33.1A, exemption is taken not to disclose transactions in the year between wholly owned group undertakings.
F J Samuely and Partners Limited
Notes to the Financial Statements for the Year Ended 30 June 2021
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Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
The most senior parent entity producing publicly available financial statements is