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Registered Number: 10371376
England and Wales

 

 

 


Abridged Accounts

for the year ended 30 September 2023

for

PROJECT RENEWAL RESTORATION & DESIGN LTD

Report to the directors on the preparation of the unaudited statutory accounts of PROJECT RENEWAL RESTORATION & DESIGN LTD for the year ended 30 September 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of PROJECT RENEWAL RESTORATION & DESIGN LTD for the year ended 30 September 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
This report is made solely to the Board of Directors of PROJECT RENEWAL RESTORATION & DESIGN LTD, as a body, in accordance with the terms of our engagement letter dated 24 October 2023 Our work has been undertaken solely to prepare for your approval the accounts of PROJECT RENEWAL RESTORATION & DESIGN LTD and state those matters that we have agreed to state to the Board of Directors of PROJECT RENEWAL RESTORATION & DESIGN LTD, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PROJECT RENEWAL RESTORATION & DESIGN LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that PROJECT RENEWAL RESTORATION & DESIGN LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of PROJECT RENEWAL RESTORATION & DESIGN LTD. You consider that PROJECT RENEWAL RESTORATION & DESIGN LTD is exempt from the statutory audit requirement for the year
We have not been instructed to carry out an audit or a review of the accounts of PROJECT RENEWAL RESTORATION & DESIGN LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts
30 September 2023


Growth Accountants Limited
40 Foregate Street
Worcester
WR1 1EE
24 October 2023
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 984    1,312 
984    1,312 
Current assets      
Stocks 121,665    45,000 
Debtors 24,112    67,512 
Cash at bank and in hand 13,343    6,354 
159,120    118,866 
Creditors: amount falling due within one year (131,622)   (69,500)
Net current assets 27,498    49,366 
 
Total assets less current liabilities 28,482    50,678 
Creditors: amount falling due after more than one year (27,571)   (50,346)
Provisions for liabilities (246)   (249)
Net assets 665    83 
 

Capital and reserves
     
Called up share capital 2    2 
Profit and loss account 663    81 
Shareholder's funds 665    83 
 


For the year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 24 October 2023 and were signed on its behalf by:


-------------------------------
Chloe Georgina BAYLISS
Director
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General Information
PROJECT RENEWAL RESTORATION & DESIGN LTD is a private company, limited by shares, registered in England and Wales, registration number 10371376, registration address 35 BROADLANDS, SHALDON DEVON, ENGLAND.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 (as applied to small entities by Section 1A of the standard)
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover
includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns,
rebates and other similar allowances.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

Average number of employees during the year was 6 (2022 : 6).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Total
  £   £
At 01 October 2022 2,000    2,000 
Additions  
Disposals  
At 30 September 2023 2,000    2,000 
Depreciation
At 01 October 2022 688    688 
Charge for year 328    328 
On disposals  
At 30 September 2023 1,016    1,016 
Net book values
Closing balance as at 30 September 2023 984    984 
Opening balance as at 01 October 2022 1,312    1,312 


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