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COMPANY REGISTRATION NUMBER: 12689837
The Project At Home Limited
Filleted Unaudited Financial Statements
31 March 2023
The Project At Home Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
Current assets
Debtors
6
5,430
Cash at bank and in hand
1,504
6,919
-------
-------
6,934
6,919
Creditors: amounts falling due within one year
7
5,940
3,374
-------
-------
Net current assets
994
3,545
----
-------
Total assets less current liabilities
994
3,545
Creditors: amounts falling due after more than one year
8
241
3,263
----
-------
Net assets
753
282
----
-------
Capital and reserves
Called up share capital
500
500
Profit and loss account
253
( 218)
----
----
Shareholders funds
753
282
----
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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 .
The Project At Home Limited
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 14 April 2023 , and are signed on behalf of the board by:
Mrs S Goundry
Director
Company registration number: 12689837
The Project At Home Limited
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Granary, Hayfield Business Park, Aspley Guise, Milton Keynes, MK17 8HL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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 financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tax on profit/(loss)
Major components of tax expense
Period from
Year to
1 Jul 21 to
31 Mar 23
31 Mar 22
£
£
Current tax:
UK current tax expense
146
----
----
Tax on profit/(loss)
146
----
----
Reconciliation of tax expense
The tax assessed on the profit/(loss) on ordinary activities for the year is higher than (2022: higher than) the standard rate of corporation tax in the UK of 19 % (2022: 19 %).
Period from
Year to
1 Jul 21 to
31 Mar 23
31 Mar 22
£
£
Profit/(loss) on ordinary activities before taxation
617
( 218)
----
----
Profit/(loss) on ordinary activities by rate of tax
117
( 41)
Effect of expenses not deductible for tax purposes
40
30
Utilisation of tax losses
( 11)
Unused tax losses
11
----
----
Tax on profit/(loss)
146
----
----
6. Debtors
2023
2022
£
£
Trade debtors
5,070
Other debtors
360
-------
----
5,430
-------
----
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
669
2,714
Corporation tax
146
Other creditors
5,125
660
-------
-------
5,940
3,374
-------
-------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
241
3,263
----
-------
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr CCL Goundry
( 2,463)
2,222
( 241)
Mrs S Goundry
( 800)
800
-------
----
-------
----
( 3,263)
3,022
( 241)
-------
----
-------
----
2022
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr CCL Goundry
( 2,463)
( 2,463)
Mrs S Goundry
( 800)
( 800)
----
-------
----
-------
( 3,263)
( 3,263)
----
-------
----
-------