Nick Peasland Architectural Services Limited Filleted accounts for Companies House (small and micro)

NICK PEASLAND ARCHITECTURAL SERVICES LIMITED - Company Information

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Statement of Consent to Prepare Abridged Financial Statements

All of the members of Nick Peasland Architectural Services Limited have consented to the preparation of the abridged income statement and the abridged statement of financial position for the year ending 30 April 2018 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 08047465

Nick Peasland Architectural Services Limited

Filleted Unaudited Abridged Financial Statements

30 April 2018

Nick Peasland Architectural Services Limited

Abridged Financial Statements

Year ended 30 April 2018

Contents	Page

Chartered accountant's report to the board of directors on the preparation of the unaudited statutory abridged financial statements	1

Abridged statement of financial position	2

Notes to the abridged financial statements	4

Nick Peasland Architectural Services Limited

Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of Nick Peasland Architectural Services Limited

Year ended 30 April 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of Nick Peasland Architectural Services Limited for the year ended 30 April 2018, which comprise the abridged statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Nick Peasland Architectural Services Limited, as a body, in accordance with the terms of our engagement letter dated 13 November 2017. Our work has been undertaken solely to prepare for your approval the abridged financial statements of Nick Peasland Architectural Services Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Nick Peasland Architectural Services Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Nick Peasland Architectural Services Limited has kept adequate accounting records and to prepare statutory abridged financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Nick Peasland Architectural Services Limited. You consider that Nick Peasland Architectural Services Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the abridged financial statements of Nick Peasland Architectural Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory abridged financial statements.

MOORE GREEN Chartered accountant

22 Friars Street Sudbury Suffolk CO10 2AA

29 January 2019

Nick Peasland Architectural Services Limited

Abridged Statement of Financial Position

30 April 2018

	2018		2017
Note	£	£	£

Fixed assets

Intangible assets	5	32,000	40,000
Tangible assets	6	2,626	3,055
		--------	--------
		34,626	43,055

Current assets

Debtors	14,268		5,528

Creditors: amounts falling due within one year	48,654		47,338
	--------		--------
Net current liabilities		34,386	41,810
		--------	--------
Total assets less current liabilities		240	1,245

Provisions

Taxation including deferred tax	–	580
	----	-------
Net assets	240	665
	----	-------

Capital and reserves

Called up share capital	100	100
Profit and loss account	140	565
	----	----
Shareholders funds	240	665
	----	----

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged income statement has not been delivered.

For the year ending 30 April 2018 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 abridged financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

Nick Peasland Architectural Services Limited

Abridged Statement of Financial Position (continued)

30 April 2018

These abridged financial statements were approved by the board of directors and authorised for issue on 29 January 2019 , and are signed on behalf of the board by:

N D Peasland

Director

Company registration number: 08047465

Nick Peasland Architectural Services Limited

Notes to the Abridged Financial Statements

Year ended 30 April 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 22 Friars Street, Sudbury, Suffolk CO10 2AA.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	15% reducing balance
Computer equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the abridged statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2017: 2 ).

5. Intangible assets

	£
Cost
At 1 May 2017 and 30 April 2018	80,000
	--------
Amortisation
At 1 May 2017	40,000
Charge for the year	8,000
	--------
At 30 April 2018	48,000
	--------
Carrying amount
At 30 April 2018	32,000
	--------
At 30 April 2017	40,000
	--------

6. Tangible assets

	£
Cost
At 1 May 2017	8,219
Additions	210
	-------
At 30 April 2018	8,429
	-------
Depreciation
At 1 May 2017	5,164
Charge for the year	639
	-------
At 30 April 2018	5,803
	-------
Carrying amount
At 30 April 2018	2,626
	-------
At 30 April 2017	3,055
	-------

7. Directors' advances, credits and guarantees

Included in other debtors is a balance of £6,182 due from the directors on their loan account.

8. Controlling party

The company is controlled by N Peasland who owns 60% of the issued share capital.