Paul Searle Architect Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 03788227 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2022

for

Paul Searle Architect Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

P Searle RIBA

SECRETARY:

Mrs L Searle

REGISTERED OFFICE:

36A Market Street

New Mills

High Peak

Derbyshire

SK22 4AA

REGISTERED NUMBER:

03788227 (England and Wales)

ACCOUNTANTS:

DLA Chartered Accountants

36A Market Street

New Mills

High Peak

SK22 4AA

FIXED ASSETS

Tangible assets

4

1,013

547

CURRENT ASSETS

Debtors

5

13,372

5,602

Cash at bank

37,895

48,005

51,267

53,607

CREDITORS

Amounts falling due within one year

6

28,487

31,411

NET CURRENT ASSETS

22,780

22,196

TOTAL ASSETS LESS CURRENT LIABILITIES

23,793

22,743

CREDITORS

Amounts falling due after more than one year

7

14,400

19,200

NET ASSETS

9,393

3,543

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

9,293

3,443

SHAREHOLDERS' FUNDS

9,393

3,543

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 November 2022 and were signed by:

P Searle RIBA - Director

1.	STATUTORY INFORMATION

Paul Searle Architect Ltd 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.

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.

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.

Computer equipment

-

25% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 June 2021

2,893

Additions

1,029

Disposals

(2,291

)

At 31 May 2022

1,631

DEPRECIATION

At 1 June 2021

2,346

Charge for year

393

Eliminated on disposal

(2,121

)

At 31 May 2022

618

NET BOOK VALUE

At 31 May 2022

1,013

At 31 May 2021

547

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

£

£

Trade debtors

9,720

1,950

Other debtors

2,112

2,112

Prepayments

1,540

1,540

13,372

5,602

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

£

£

Bank loans and overdrafts

4,800

4,800

Tax

15,129

11,892

Social security and other taxes

-

119

VAT

6,343

9,330

Other creditors

71

30

Net wages

285

1,018

Directors' current accounts

409

326

Accrued expenses

1,450

3,896

28,487

31,411

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.22

31.5.21

£

£

Bank loans - 1-2 years

4,800

4,800

Bank loans - 2-5 years

9,600

14,400

14,400

19,200

8.	RELATED PARTY DISCLOSURES

At the year end the company was owed £2,112 (2021: £2,112) from Searle Building Company Limited. Searle Building Company Limited is controlled by the director and shareholder Mr. P. Searle.