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Registration number: 12529083

B. PROJECT REAL ESTATE LTD

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

B. PROJECT REAL ESTATE LTD

Contents

Company Information

1

Director's Report

2

Profit and Loss Account

3

Statement of Comprehensive Income

4

Balance Sheet

5

Statement of Changes in Equity

6

Notes to the Unaudited Financial Statements

7 to 9

 

B. PROJECT REAL ESTATE LTD

Company Information

Director

Emanuele Sarnella

Registered office

3 The Shrubberies
George Lane
London
E18 1BD

Accountants

ACCOUNTING 2 TREND LTD
3 The Shrubberies
George Lane
London
E18 1BD

 

B. PROJECT REAL ESTATE LTD

Director's Report for the Year Ended 31 March 2023

The report and the financial statements for the year ended 31 March 2023.

Director of the company

The director who held office during the year was as follows:

Emanuele Sarnella

Principal activity

The principal activity of the company is that of an investment holding company.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 7 February 2024
 

.........................................
Emanuele Sarnella
Director

 

B. PROJECT REAL ESTATE LTD

Profit and Loss Account for the Year Ended 31 March 2023

Note

2023
£

2022
£

Turnover

 

-

-

Gross profit/(loss)

 

-

-

Administrative expenses

 

(11,158)

(20,965)

Other operating income

 

4,983

20

Operating loss

 

(6,175)

(20,945)

Gain/(loss) on financial assets at fair value through profit and loss

 

9,042

(270,012)

Other interest receivable and similar income

 

(22,446)

54,849

   

(13,404)

(215,163)

Loss before tax

(19,579)

(236,108)

Loss for the financial year

 

(19,579)

(236,108)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

B. PROJECT REAL ESTATE LTD

Statement of Comprehensive Income for the Year Ended 31 March 2023

2023
£

2022
£

Loss for the year

(19,579)

(236,108)

Total comprehensive income for the year

(19,579)

(236,108)

 

B. PROJECT REAL ESTATE LTD

(Registration number: 12529083)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Other financial assets

4

479,047

443,315

Current assets

 

Cash at bank and in hand

 

24,959

38,977

Creditors: Amounts falling due within one year

5

(759,593)

(718,300)

Net current liabilities

 

(734,634)

(679,323)

Net liabilities

 

(255,587)

(236,008)

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

(255,687)

(236,108)

Shareholders' deficit

 

(255,587)

(236,008)

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 7 February 2024
 

.........................................
Emanuele Sarnella
Director

 

B. PROJECT REAL ESTATE LTD

Statement of Changes in Equity for the Year Ended 31 March 2023

Share capital
£

Retained earnings
£

Total
£

At 1 April 2022

100

(236,108)

(236,008)

Loss for the year

-

(19,579)

(19,579)

At 31 March 2023

100

(255,687)

(255,587)

Share capital
£

Retained earnings
£

Total
£

At 1 April 2021

100

-

100

Loss for the year

-

(236,108)

(236,108)

At 31 March 2022

100

(236,108)

(236,008)

 

B. PROJECT REAL ESTATE LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
3 The Shrubberies
George Lane
London
E18 1BD
United Kingdom

These financial statements were authorised for issue by the director on 7 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

B. PROJECT REAL ESTATE LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

Additions

479,047

479,047

At 31 March 2023

479,047

479,047

Impairment

Carrying amount

At 31 March 2023

479,047

479,047

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Other creditors

759,593

718,300

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

7

Related party transactions

Loans from related parties

 

B. PROJECT REAL ESTATE LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

2023

Other related parties
£

Total
£

At start of period

718,300

718,300

Advanced

37,738

37,738

At end of period

756,038

756,038

2022

Other related parties
£

Total
£

Advanced

718,300

718,300

At end of period

718,300

718,300

Terms of loans from related parties

Shareholder's loan, interest free with no specified repayment date.