Company No:
Contents
DIRECTORS | Catherine Annie Pease |
Jessica Reynolds | |
Tatiana Von Preussen |
REGISTERED OFFICE | 22 Prince Of Wales Road |
London | |
NW5 3LG | |
England | |
United Kingdom |
COMPANY NUMBER | 06906627 (England and Wales) |
ACCOUNTANT | Praxis |
1 Poultry | |
London | |
EC2R 8EJ | |
United Kingdom |
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
|
|
|
17,146 | 21,299 | |||
Current assets | ||||
Debtors | 4 |
|
|
|
Cash at bank and in hand | 5 |
|
|
|
93,292 | 255,809 | |||
Creditors: amounts falling due within one year | 6 | (
|
(
|
|
Net current assets | 4,840 | 84,944 | ||
Total assets less current liabilities | 21,986 | 106,243 | ||
Net assets |
|
|
||
Capital and reserves | ||||
Called-up share capital | 7 |
|
|
|
Profit and loss account |
|
|
||
Total shareholders' funds |
|
|
Directors' responsibilities:
The financial statements of Von Preussen Pease Reynolds Architects Limited (registered number:
Tatiana Von Preussen
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Von Preussen Pease Reynolds Architects Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 22 Prince Of Wales Road, London, NW5 3LG, England, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Where the outcome of a long term contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the Balance Sheet date. This is normally measured by the proportion that contract costs incurred for work performed to date bear to the estimated total contract costs, except where this would not be representative of the stage of completion. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Plant and machinery etc. |
|
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.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
The Company as lessor
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
|
|
Plant and machinery etc. | Total | ||
£ | £ | ||
Cost | |||
At 01 June 2022 |
|
|
|
Additions |
|
|
|
At 31 May 2023 |
|
|
|
Accumulated depreciation | |||
At 01 June 2022 |
|
|
|
Charge for the financial year |
|
|
|
At 31 May 2023 |
|
|
|
Net book value | |||
At 31 May 2023 |
|
|
|
At 31 May 2022 |
|
|
2023 | 2022 | ||
£ | £ | ||
Trade debtors |
|
|
|
Other debtors |
|
|
|
|
|
2023 | 2022 | ||
£ | £ | ||
Cash at bank and in hand |
|
|
2023 | 2022 | ||
£ | £ | ||
Trade creditors |
|
|
|
Taxation and social security |
|
|
|
Other creditors |
|
|
|
|
|
2023 | 2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,002 | 1,002 |
Pensions
The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.
2023 | 2022 | ||
£ | £ | ||
Unpaid contributions due to the fund (inc. in other creditors) |
|
|
Transactions with the entity's directors
2023 | 2022 | ||
£ | £ | ||
Interest free loan to the company | 54 | 174 | |
Dividends paid to directors | 89,106 | 100,518 |