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REGISTERED NUMBER: 10651391 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 March 2023

for

Project Three Developments Limited

Project Three Developments Limited (Registered number: 10651391)






Contents of the Financial Statements
for the Year Ended 30 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Project Three Developments Limited

Company Information
for the Year Ended 30 March 2023







DIRECTORS: B D Lloyd
G V Morgan
B P H Wells





REGISTERED OFFICE: Kimberley House
Ty Glas Avenue
Llanishen
Cardiff
CF14 5DX





REGISTERED NUMBER: 10651391 (England and Wales)





ACCOUNTANTS: Norton Accountancy Ltd
7 Soundwell Road
Staple Hill
Bristol
BS16 4QG

Project Three Developments Limited (Registered number: 10651391)

Balance Sheet
30 March 2023

30.3.23 30.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,620,127 4,382,490

CURRENT ASSETS
Debtors 5 62,349 27,596
Cash at bank 3,017 5,762
65,366 33,358
CREDITORS
Amounts falling due within one year 6 2,838,917 4,056,408
NET CURRENT LIABILITIES (2,773,551 ) (4,023,050 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

846,576

359,440

CREDITORS
Amounts falling due after more than one
year

7

(40,340

)

(50,630

)

PROVISIONS FOR LIABILITIES (121,956 ) (73,469 )
NET ASSETS 684,280 235,341

CAPITAL AND RESERVES
Called up share capital 300 300
Revaluation reserve 8 1,774,147 1,440,111
Retained earnings (1,090,167 ) (1,205,070 )
684,280 235,341

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

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

The directors acknowledge their 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 Three Developments Limited (Registered number: 10651391)

Balance Sheet - continued
30 March 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 Board of Directors and authorised for issue on 20 December 2023 and were signed on its behalf by:





B D Lloyd - Director


Project Three Developments Limited (Registered number: 10651391)

Notes to the Financial Statements
for the Year Ended 30 March 2023

1. STATUTORY INFORMATION

Project Three Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

Project Three Developments Limited (Registered number: 10651391)

Notes to the Financial Statements - continued
for the Year Ended 30 March 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 31 March 2022 4,340,500 62,671 4,403,171
Additions - 3,125 3,125
Disposals (1,330,500 ) - (1,330,500 )
Revaluations 579,900 - 579,900
At 30 March 2023 3,589,900 65,796 3,655,696
DEPRECIATION
At 31 March 2022 - 20,681 20,681
Charge for year - 14,888 14,888
At 30 March 2023 - 35,569 35,569
NET BOOK VALUE
At 30 March 2023 3,589,900 30,227 3,620,127
At 30 March 2022 4,340,500 41,990 4,382,490

Cost or valuation at 30 March 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2023 1,774,147 - 1,774,147
Cost 1,815,753 65,796 1,881,549
3,589,900 65,796 3,655,696

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.3.23 30.3.22
£    £   
Trade debtors 61,930 27,596
Other debtors 419 -
62,349 27,596

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.3.23 30.3.22
£    £   
Bank loans and overdrafts 2,151,485 3,393,702
Trade creditors 29,286 58,631
Taxation and social security 6,241 3,971
Other creditors 651,905 600,104
2,838,917 4,056,408

Project Three Developments Limited (Registered number: 10651391)

Notes to the Financial Statements - continued
for the Year Ended 30 March 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.3.23 30.3.22
£    £   
Bank loans 40,340 50,630

8. RESERVES
Revaluation
reserve
£   
At 31 March 2022 1,440,111
Revaluations in year 334,036

At 30 March 2023 1,774,147