P W Projects Limited - Filleted accounts

Registered number

02588862

P W Projects Limited

Report and Accounts

For the Year Ended

31 December 2022

Oakensen

Chartered Accountants

31 Stallard Street

Trowbridge

Wiltshire

BA14 9AA

P W Projects Limited
Registered number:		02588862
Balance Sheet
as at 31 December 2022

Notes			2022			2021
£				£
Fixed assets
Tangible assets	3		1,495,414			1,475,643

Current assets
Stocks		501			215
Debtors	4	15,513			19,058
Cash at bank and in hand		15,130			42,818
		31,144			62,091

Creditors: amounts falling due within one year	5	(103,209)			(101,396)

Net current liabilities			(72,065)			(39,305)

Total assets less current liabilities			1,423,349			1,436,338

Creditors: amounts falling due after more than one year	6		(45,750)			(72,344)

Provisions for liabilities			(203,259)			(203,259)
Net assets			1,174,340			1,160,735

Capital and reserves
Called up share capital			16,001			16,001
Share premium			93,389			93,389
Revaluation reserve	7		892,724			892,724
Profit and loss account			172,226			158,621

Shareholders' funds			1,174,340			1,160,735

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.



P S Waring
Director
Approved by the board on 3 October 2023

P W Projects Limited
Notes to the Accounts
for the year ended 31 December 2022


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover is recognised when the goods are purchased or the services complete.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Included in Land and buildings is a freehold property which is not depreciated. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Motor vehicles			7 years
	Plant and machinery			7 years
	Fixtures, fittings, tools and equipment			7 years

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price, which is usually the invoice price, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price, which is usually the invoice price.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


2	Employees					2022		2021
Number							Number

	Average number of persons employed by the company					15		22


3	Tangible fixed assets
		Land and buildings		Plant and machinery		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 January 2022	1,472,613		168,986		20,937		1,662,536
	Additions	20,532		-		-		20,532
	At 31 December 2022	1,493,145		168,986		20,937		1,683,068

	Depreciation
	At 1 January 2022	-		166,658		20,235		186,893
	Charge for the year	-		527		234		761
	At 31 December 2022	-		167,185		20,469		187,654

	Net book value
	At 31 December 2022	1,493,145		1,801		468		1,495,414
	At 31 December 2021	1,472,613		2,328		702		1,475,643


4	Debtors					2022		2021
£							£

	Trade debtors					15,513		7,225
	Other debtors					-		11,833
						15,513		19,058


5	Creditors: amounts falling due within one year					2022		2021
£							£

	Bank loans and overdrafts					-		13,000
	Trade creditors					29,386		15,860
	Taxes and social security costs					36,242		22,166
	Other creditors					37,581		50,370
						103,209		101,396


6	Creditors: amounts falling due after one year					2022		2021
£							£

	Bank loans					42,583		72,344
	Other creditors					3,167		-
						45,750		72,344


7	Revaluation reserve					2022		2021
£							£

	At 1 January 2022					892,724		892,724

	At 31 December 2022					892,724		892,724


8	Other information

	P W Projects Limited is a private company limited by shares and incorporated in England.
	Its registered office is:
	Fieldways Hotel
	Hilperton Road
	Trowbridge
	Wiltshire
	BA14 7JP