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REGISTERED NUMBER: 02387952 (England and Wales)















PROJECT DEVELOPMENT WORKSHOP LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023






PROJECT DEVELOPMENT WORKSHOP LIMITED (REGISTERED NUMBER: 02387952)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PROJECT DEVELOPMENT WORKSHOP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: D F Bethell





REGISTERED OFFICE: 2 Windmill Close
Appleton
Warrington
Cheshire
WA4 5JS





REGISTERED NUMBER: 02387952 (England and Wales)





ACCOUNTANTS: DTE Business Advisers Limited
Chartered Accountants
The Exchange
5 Bank Street
Bury
BL9 0DN

PROJECT DEVELOPMENT WORKSHOP LIMITED (REGISTERED NUMBER: 02387952)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2023

2023 2022
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 33,780 37,168

CURRENT ASSETS
Debtors 5 136,624 97,011
Cash at bank and in hand 28,005 739
164,629 97,750
CREDITORS
Amounts falling due within one year 6 (64,725 ) (51,419 )
NET CURRENT ASSETS 99,904 46,331
TOTAL ASSETS LESS CURRENT
LIABILITIES

133,684

83,499

CREDITORS
Amounts falling due after more than one
year

7

(15,848

)

(23,825

)

PROVISIONS FOR LIABILITIES (3,265 ) (3,613 )
NET ASSETS 114,571 56,061

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 113,571 55,061
114,571 56,061

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PROJECT DEVELOPMENT WORKSHOP LIMITED (REGISTERED NUMBER: 02387952)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 2023


The 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.

The financial statements were approved by the director and authorised for issue on 30 October 2023 and were signed by:





D F Bethell - Director


PROJECT DEVELOPMENT WORKSHOP LIMITED (REGISTERED NUMBER: 02387952)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

Project Development Workshop Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 02387952 and the registered office address is 2 Windmill Close, Appleton, Warrington, England, WA4 5JS..

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The director is satisfied that the company is a going concern and that the financial statements are correctly prepared on this basis.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates.

The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below:-

i) Determining the value of unbilled revenue, to be included as amounts recoverable on contracts, as at the period end date;

ii) Assessing the recoverability of period end trade debts to determine an appropriate bad debt provision.

Revenue
Revenue comprises income net of VAT from the provision of:-

i) Consultancy and training services; and
ii) The supply of training manuals under licence

Income from services is recognised as those services are provided to clients, and income from supply of training manuals as at the date of supply.

At the period end unbilled revenue is included within amounts recoverable on contracts.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance and 5% on reducing balance

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

PROJECT DEVELOPMENT WORKSHOP LIMITED (REGISTERED NUMBER: 02387952)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


2. ACCOUNTING POLICIES - continued

Government grants
Grants are accounted for under the accruals model as permitted by FRS 102.

During the prior year the company benefitted from the Government Coronavirus Job Retention Scheme ('Furlough'). Furlough income was recognised in "other income" in the same period as the related wage costs.

The company has not directly benefitted from any other forms of government assistance.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 7 ) .

PROJECT DEVELOPMENT WORKSHOP LIMITED (REGISTERED NUMBER: 02387952)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 July 2022 114,792
Additions 708
At 30 June 2023 115,500
DEPRECIATION
At 1 July 2022 77,624
Charge for year 4,096
At 30 June 2023 81,720
NET BOOK VALUE
At 30 June 2023 33,780
At 30 June 2022 37,168

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 52,558 66,481
Amounts owed by participating interests 8,328 1,730
Other debtors 75,738 28,800
136,624 97,011

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 24,461 7,781
Trade creditors 666 3,749
Taxation and social security 36,073 36,623
Other creditors 3,525 3,266
64,725 51,419

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 15,848 23,825

PROJECT DEVELOPMENT WORKSHOP LIMITED (REGISTERED NUMBER: 02387952)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft 16,483 -
Bank loans 23,826 31,606
40,309 31,606

Debts owed to the bank are secured by way of a debenture providing a fixed and floating charge over all assets of the company.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included within debtors falling due within one year is a director's loan account balance of £75,209 (2022 - £28,800) owed by D F Bethell. This advance is unsecured, interest free and repayable upon demand.

There have not been any single advances during either the current or prior period which the director considers to be material.