Alison Brooks Architects Limited 31/08/2018 iXBRL

Alison Brooks Architects Limited 31/08/2018 iXBRL

ALISON BROOKS ARCHITECTS LIMITED - Company Information

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Company registration number: 04810339
Alison Brooks Architects Limited
Unaudited filleted financial statements
31 August 2018
Alison Brooks Architects Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Alison Brooks Architects Limited
Directors and other information
Directors Ms B A Brooks
Mr C H Walker
Mr M Woodford
Company number 04810339
Registered office Studio 610
Highgate Studios
53-79 Highgate Road
London
NW5 1TL
Accountants Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
Hertfordshire
AL5 4EE
Alison Brooks Architects Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Alison Brooks Architects Limited
Year ended 31 August 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Alison Brooks Architects Limited for the year ended 31 August 2018 which comprise the statement of financial position and 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, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/ regulations-standards-and-guidance/.
This report is made solely to the board of directors of Alison Brooks Architects Limited, as a body, in accordance with the terms of our engagement letter dated 9 January 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Alison Brooks Architects Limited and state those matters that we have agreed to state to the board of directors of Alison Brooks Architects Limited as a body, in this report in accordance with the ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Alison Brooks Architects Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Alison Brooks Architects Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Alison Brooks Architects Limited. You consider that Alison Brooks Architects 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 financial statements of Alison Brooks Architects 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 financial statements.
Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
Hertfordshire
AL5 4EE
17 January 2019
Alison Brooks Architects Limited
Statement of financial position
31 August 2018
2018 2017
Note £ £ £ £
Fixed assets
Tangible assets 5 108,176 95,330
_________ _________
108,176 95,330
Current assets
Debtors 6 472,801 604,718
Cash at bank and in hand 665,478 305,296
_________ _________
1,138,279 910,014
Creditors: amounts falling due
within one year 7 ( 358,569) ( 249,521)
_________ _________
Net current assets 779,710 660,493
_________ _________
Total assets less current liabilities 887,886 755,823
Provisions for liabilities ( 20,550) ( 15,810)
_________ _________
Net assets 867,336 740,013
_________ _________
Capital and reserves
Called up share capital 1 1
Profit and loss account 867,335 740,012
_________ _________
Shareholders funds 867,336 740,013
_________ _________
For the year ending 31 August 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 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 financial statements.
These 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 statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 17 January 2019 , and are signed on behalf of the board by:
Ms B A Brooks
Director
Company registration number: 04810339
Alison Brooks Architects Limited
Notes to the financial statements
Year ended 31 August 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 Studio 610, Highgate Studios, 53-79 Highgate Road, London, NW5 1TL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets measured at fair value through profit or loss.The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of services falling within the company's ordinary activities.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. 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. 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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and any accumulated 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.
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:
Short leasehold property - Straight line over the life of the lease
Models - 5 years straight line
Fittings fixtures and equipment - 25% on written down value or 5 years straight line
Office equipment - 25% on written down value, 4 or 5 years straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised retrospectively to reflect the new estimates.
Impairment
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.
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 statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 30 (2017: 28 ).
5. Tangible assets
Short leasehold property Models Fixtures, fittings and equipment Office equipment Total
£ £ £ £ £
Cost
At 1 September 2017 122,062 62,187 56,646 146,314 387,209
Additions - 14,111 5,144 38,390 57,645
_________ _________ _________ _________ _________
At 31 August 2018 122,062 76,298 61,790 184,704 444,854
_________ _________ _________ _________ _________
Depreciation
At 1 September 2017 109,941 5,429 48,707 127,802 291,879
Charge for the year 12,120 14,504 3,450 14,725 44,799
_________ _________ _________ _________ _________
At 31 August 2018 122,061 19,933 52,157 142,527 336,678
_________ _________ _________ _________ _________
Carrying amount
At 31 August 2018 1 56,365 9,633 42,177 108,176
_________ _________ _________ _________ _________
At 31 August 2017 12,121 56,758 7,939 18,512 95,330
_________ _________ _________ _________ _________
6. Debtors
2018 2017
£ £
Trade debtors 382,264 552,483
Other debtors 90,537 52,235
_________ _________
472,801 604,718
_________ _________
7. Creditors: amounts falling due within one year
2018 2017
£ £
Trade creditors 103,169 74,126
Corporation tax 43,357 43,065
Social security and other taxes 61,753 104,588
Other creditors 150,290 27,742
_________ _________
358,569 249,521
_________ _________
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2018
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Ms B A Brooks ( 24) ( 46) ( 70)
_________ _________ _________
2017
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Ms B A Brooks ( 13,393) 13,369 ( 24)
_________ _________ _________