Architect lost over 拢100,000 in its last financial year
Architect Terry Farrell & Partners has blamed tough economic conditions after falling more than 拢100,000 into the red.
The firm reported a loss of 拢108,078 for the year to 31 March 2012, down from a profit of 拢301,682 last year.
In accounts filed at Companies House, the practice also reported a drop in turnover to 拢4.9m down from 拢5.4m last year.
Terry Farrell, director of Terry Farrell & Partners, said in the accounts that economic conditions 鈥渃ontinue to be challenging鈥�.
He added: 鈥淣evertheless, the practice has recently secured a number of new masterplanning and building design projects in London and the directors remain optimistic of a return to profitability in 2013.鈥�
The practice employed an average of 54 staff throughout the year, just up from 53 in 2011.
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