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Registration number: 13498668

Project Finance Training Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Period from 7 July 2021 to 31 July 2022

 

Project Finance Training Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 6

 

Project Finance Training Ltd

Company Information

Director

K J Whitelaw-Jones

Registered office

20 - 22 Wenlock Road
London
N1 7GU

Accountants

Burton Sweet Limited
Chartered Accountants & Business Advisors
Cooper House
Lower Charlton Estate
Shepton Mallet
Somerset
BA4 5QE

 

Project Finance Training Ltd

(Registration number: 13498668)
Balance Sheet
31 July 2022

Note

2022
£

Current assets

 

Debtors

4

1,575

Cash at bank and in hand

 

64,507

 

66,082

Creditors: Amounts falling due within one year

5

(59,793)

Net assets

 

6,289

Capital and reserves

 

Called up share capital

617

Retained earnings

5,672

Shareholders' funds

 

6,289

 

Project Finance Training Ltd

(Registration number: 13498668)
Balance Sheet
31 July 2022

For the financial period ending 31 July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 20 October 2023
 

.........................................
K J Whitelaw-Jones
Director

 

Project Finance Training Ltd

Notes to the Unaudited Financial Statements
Period from 7 July 2021 to 31 July 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
20 - 22 Wenlock Road
London
N1 7GU

These financial statements were authorised for issue by the director on 20 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration receivable for the provision of services in the ordinary course of the company’s activities and is shown net of value added tax.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Project Finance Training Ltd

Notes to the Unaudited Financial Statements
Period from 7 July 2021 to 31 July 2022

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Project Finance Training Ltd

Notes to the Unaudited Financial Statements
Period from 7 July 2021 to 31 July 2022

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 0.

4

Debtors

2022
£

Other debtors

617

Prepayments

958

1,575

5

Creditors

Creditors: amounts falling due within one year

2022
£

Due within one year

Trade creditors

4,134

Taxation and social security

2,234

Other creditors

53,425

59,793