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Registered Number: 10435802
England and Wales

 

 

 

PROJECT FOUR SAFETY SOLUTIONS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2022

End date: 31 May 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 8,640    4,502 
8,640    4,502 
Current assets      
Debtors 4 517,827    363,175 
Cash at bank and in hand 491,261    307,928 
1,009,088    671,103 
Creditors: amount falling due within one year 5 (356,252)   (208,737)
Net current assets 652,836    462,366 
 
Total assets less current liabilities 661,476    466,868 
Creditors: amount falling due after more than one year 6 (20,463)   (30,463)
Provisions for liabilities 7 (1,641)   (855)
Net assets 639,372    435,550 
 

Capital and reserves
     
Called up share capital 8 100    100 
Profit and loss account 639,272    435,450 
Shareholder's funds 639,372    435,550 
 


For the year ended 31 May 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 financial statements were approved by the board of directors on 21 February 2024 and were signed on its behalf by:


-------------------------------
Alan Robson
Director
1
General Information
Project Four Safety Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 10435802, registration address 17 Mann Island, Liverpool Waterfront, Liverpool, Merseyside, L3 1DG.

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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants represent Covid-19 related funding received from HM Government and the local authority in the form of Coronavirus Job Retention Scheme monies and a business interruption grant, recognised in the income statement once eligibilty established. 
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.





Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
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:
Office Equipment 25% Reducing Balance
Computer Equipment 33.3% Straight Line
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.
2.

Average number of employees


Average number of employees during the year was 13 (2022 : 9).
3.

Tangible fixed assets

Cost or valuation Office Equipment   Computer Equipment   Total
  £   £   £
At 01 June 2022 4,869    9,593    14,462 
Additions   6,916    6,916 
Disposals    
At 31 May 2023 4,869    16,509    21,378 
Depreciation
At 01 June 2022 2,729    7,231    9,960 
Charge for year 535    2,243    2,778 
On disposals    
At 31 May 2023 3,264    9,474    12,738 
Net book values
Closing balance as at 31 May 2023 1,605    7,035    8,640 
Opening balance as at 01 June 2022 2,140    2,362    4,502 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 482,177    343,323 
Prepayments & Accrued Income 34,750    19,852 
Other Debtors 900   
517,827    363,175 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 37,666    23,596 
Bank Loans & Overdrafts 10,000    10,000 
Corporation Tax 121,080    62,345 
PAYE & Social Security 12,235    3,991 
Pension Payable 1,604    847 
Other Creditors 8,109    6,756 
Directors' Current Accounts 18,349    17,503 
VAT 147,209    83,699 
356,252    208,737 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 20,463    30,463 
20,463    30,463 
Security
Bank loans include a Bounce Back loan.

7.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 1,641    855 
1,641    855 

8.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
100 Class A shares of £1.00 each 100    100 
100    100 

2