Company Registration No. 6182753 (England and Wales)
IAN SULLIVAN ARCHITECTURE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2018
PAGES FOR FILING WITH REGISTRAR
IAN SULLIVAN ARCHITECTURE LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
IAN SULLIVAN ARCHITECTURE LTD
BALANCE SHEET
AS AT 31 JANUARY 2018
31 January 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
3
195,818
52,199
Current assets
Debtors
4
356,196
690,880
Cash at bank and in hand
461,812
180,385
818,008
871,265
Creditors: amounts falling due within one year
5
(263,916)
(323,778)
Net current assets
554,092
547,487
Total assets less current liabilities
749,910
599,686
Creditors: amounts falling due after more than one year
6
(128,727)
(61,174)
Net assets
621,183
538,512
Capital and reserves
Called up share capital
7
200
200
Profit and loss reserves
620,983
538,312
Total equity
621,183
538,512
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 January 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
IAN SULLIVAN ARCHITECTURE LTD
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2018
31 January 2018
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 31 October 2018
Mr I G Sullivan
Director
Company Registration No. 6182753
IAN SULLIVAN ARCHITECTURE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2018
- 3 -
1
Accounting policies
Company information
Ian Sullivan Architecture Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
2 The Orchard, South Marston, Swindon, Wiltshire, SN3 4DD.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation
.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
15% on reducing balance
Fixtures and fittings
15% on reducing balance
Motor vehicles
25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Taxation
The tax expense represents the sum of the tax currently payable
.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
IAN SULLIVAN ARCHITECTURE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2018
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 3 (2017 - 2).
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2017
130,363
Additions
207,819
Disposals
(87,293)
At 31 January 2018
250,889
Depreciation and impairment
At 1 February 2017
78,164
Depreciation charged in the year
34,551
Eliminated in respect of disposals
(57,644)
At 31 January 2018
55,071
Carrying amount
At 31 January 2018
195,818
At 31 January 2017
52,199
4
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
49,918
173,433
Other debtors
306,278
517,447
356,196
690,880
IAN SULLIVAN ARCHITECTURE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2018
- 5 -
5
Creditors: amounts falling due within one year
2018
2017
£
£
Bank loans and overdrafts
32,700
19,512
Trade creditors
17,818
11,775
Corporation tax
24,095
86,813
Other taxation and social security
170,796
194,078
Other creditors
18,507
11,600
263,916
323,778
6
Creditors: amounts falling due after more than one year
2018
2017
£
£
Bank loans and overdrafts
128,727
61,174
7
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
200 Ordinary shares of £1 each
200
200
200
200