1 April 2022 v2023.21.1 limited_company_frs_102_section_1a_v1_1_0 companies_houseSoftwarefalsetruetruetrueNo description of principal activitytruexbrli:purexbrli:sharesiso4217:GBP119058142022-04-012023-03-31119058142023-03-31119058142022-03-3111905814core:WithinOneYear2023-03-3111905814core:WithinOneYear2022-03-3111905814core:ShareCapital2023-03-3111905814core:ShareCapital2022-03-3111905814bus:Director12022-04-012023-03-3111905814bus:Director22022-04-012023-03-3111905814bus:RegisteredOffice2022-04-012023-03-3111905814core:OfficeEquipment2022-04-012023-03-31119058142021-04-012022-03-3111905814core:PlantMachinery2022-04-0111905814core:PlantMachinery2022-04-012023-03-3111905814core:PlantMachinery2023-03-3111905814core:PlantMachinery2022-03-311190581412022-04-012023-03-3111905814countries:EnglandWales2022-04-012023-03-3111905814bus:AuditExempt-NoAccountantsReport2022-04-012023-03-3111905814bus:PrivateLimitedCompanyLtd2022-04-012023-03-3111905814bus:SmallEntities2022-04-012023-03-3111905814bus:FullAccounts2022-04-012023-03-31
Company registration number:
11905814
ProjectXChain Services Ltd
Unaudited Filleted Financial Statements for the year ended
31 March 2023
ProjectXChain Services Ltd
Statement of Financial Position
31 March 2023
20232022
Note££
Fixed assets    
Tangible assets 5
678
 
651
 
Current assets    
Cash at bank and in hand
34,780
 
36,587
 
Creditors: amounts falling due within one year 6
(35,448
)
(37,228
)
Net current liabilities
(668
)
(641
)
Total assets less current liabilities 10   10  
Capital and reserves    
Called up share capital
10
 
10
 
Profit and loss account -   -  
Shareholders funds
10
 
10
 
For the year ending
31 March 2023
, 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.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
3 October 2023
, and are signed on behalf of the board by:
Mr. M Khan
Ms. S Qamar
DirectorDirector
Company registration number:
11905814
ProjectXChain Services Ltd
Notes to the Financial Statements
Year ended
31 March 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
53 Rawnsley Avenue
,
Mitcham
,
Surrey
,
CR4 4BX
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount 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 capital and reserves. However, the increase is recognised in profit or loss to the extent that 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 capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office equipment
25% straight line

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2022:
2.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 April 2022
868
 
Additions
308
 
At
31 March 2023
1,176
 
Depreciation  
At
1 April 2022
217
 
Charge
281
 
At
31 March 2023
498
 
Carrying amount  
At
31 March 2023
678
 
At 31 March 2022
651
 

6 Creditors: amounts falling due within one year

20232022
££
Taxation and social security
23,249
 
24,382
 
Other creditors
12,199
 
12,846
 
35,448
 
37,228