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UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

S B PROJECTS LIMITED

S B PROJECTS LIMITED (REGISTERED NUMBER: 02499887)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


S B PROJECTS LIMITED

COMPANY INFORMATION
For The Year Ended 31 May 2023







DIRECTOR: Mr S Bradford





REGISTERED OFFICE: 5th Floor
Waverley House
115 - 119 Holdenhurst Road
Bournemouth
Dorset
BH8 8DY





REGISTERED NUMBER: 02499887 (England and Wales)






S B PROJECTS LIMITED (REGISTERED NUMBER: 02499887)

BALANCE SHEET
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,850 5,132

CURRENT ASSETS
Stocks 589 604
Debtors 5 7,004 10,558
Cash at bank 43,046 37,866
50,639 49,028
CREDITORS
Amounts falling due within one year 6 9,557 12,983
NET CURRENT ASSETS 41,082 36,045
TOTAL ASSETS LESS CURRENT
LIABILITIES

44,932

41,177

CREDITORS
Amounts falling due after more than one year 7 (12,577 ) (10,011 )

PROVISIONS FOR LIABILITIES (731 ) (805 )
NET ASSETS 31,624 30,361

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 31,524 30,261
SHAREHOLDERS' FUNDS 31,624 30,361

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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 22 February 2024 and were signed by:





Mr S Bradford - Director


S B PROJECTS LIMITED (REGISTERED NUMBER: 02499887)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 May 2023

1. STATUTORY INFORMATION

S B Projects 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.

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.
Plant and machinery etc - 25% on 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.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured as amortised cost using the effective interest rate method, less impairment.

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 1 (2022 - 1 ) .

S B PROJECTS LIMITED (REGISTERED NUMBER: 02499887)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 May 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022
and 31 May 2023 31,567
DEPRECIATION
At 1 June 2022 26,435
Charge for year 1,282
At 31 May 2023 27,717
NET BOOK VALUE
At 31 May 2023 3,850
At 31 May 2022 5,132

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 6,930 10,487
Other debtors 74 71
7,004 10,558

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 360 -
Taxation and social security 7,839 11,436
Other creditors 1,358 1,547
9,557 12,983

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 12,577 10,011

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100