Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 12535622 Mr BILBIL TUSHA iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12535622 2023-03-31 12535622 2024-03-31 12535622 2023-04-01 2024-03-31 12535622 frs-core:CurrentFinancialInstruments 2024-03-31 12535622 frs-core:Non-currentFinancialInstruments 2024-03-31 12535622 frs-core:FurnitureFittings 2024-03-31 12535622 frs-core:FurnitureFittings 2023-04-01 2024-03-31 12535622 frs-core:FurnitureFittings 2023-03-31 12535622 frs-core:PlantMachinery 2024-03-31 12535622 frs-core:PlantMachinery 2023-04-01 2024-03-31 12535622 frs-core:PlantMachinery 2023-03-31 12535622 frs-core:ShareCapital 2024-03-31 12535622 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 12535622 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12535622 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 12535622 frs-bus:SmallEntities 2023-04-01 2024-03-31 12535622 frs-bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 12535622 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 12535622 frs-bus:Director1 2023-04-01 2024-03-31 12535622 frs-countries:EnglandWales 2023-04-01 2024-03-31 12535622 2022-03-31 12535622 2023-03-31 12535622 2022-04-01 2023-03-31 12535622 frs-core:CurrentFinancialInstruments 2023-03-31 12535622 frs-core:Non-currentFinancialInstruments 2023-03-31 12535622 frs-core:WithinOneYear 2023-03-31 12535622 frs-core:ShareCapital 2023-03-31 12535622 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 12535622
Bill's Projects Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Major's Accounts & Co Ltd
ACCA
118
Sydenham Road
Sydenham
London
SE26 5JX
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
Report to the director on the preparation of the unaudited statutory accounts of Bill's Projects Ltd For The Year Ended 31 March 2024
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Bill's Projects Ltd which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of Bill's Projects Ltd , as a body, in accordance with the terms of our engagement letter dated 26th March 2020 . Our work has been undertaken solely to prepare for your approval the accounts of Bill's Projects Ltd and state those matters that we have agreed to state to the director of Bill's Projects Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bill's Projects Ltd and its director as a body for our work or for this report.
It is your duty to ensure that Bill's Projects Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Bill's Projects Ltd . You consider that Bill's Projects Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Bill's Projects Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
20th August 2024
Major's Accounts & Co Ltd
ACCA
118
Sydenham Road
Sydenham
London
SE26 5JX
Page 1
Page 2
Balance Sheet
Registered number: 12535622
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 7,032 8,249
7,032 8,249
CURRENT ASSETS
Stocks 5 14,500 10,000
Debtors 6 58,553 38,231
Cash at bank and in hand 2,192 211
75,245 48,442
Creditors: Amounts Falling Due Within One Year 7 (58,915 ) (27,461 )
NET CURRENT ASSETS (LIABILITIES) 16,330 20,981
TOTAL ASSETS LESS CURRENT LIABILITIES 23,362 29,230
Creditors: Amounts Falling Due After More Than One Year 8 (21,624 ) (28,590 )
NET ASSETS 1,738 640
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account 1,737 639
SHAREHOLDERS' FUNDS 1,738 640
Page 2
Page 3
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr BILBIL TUSHA
Director
20th August 2024
The notes on pages 4 to 6 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Bill's Projects Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12535622 . The registered office is 110 Linden Gardens, ENFIELD, EN1 4DX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% reducing balance method
Fixtures & Fittings 18% reducing balance method
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
Page 4
Page 5
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2023 10,311 - 10,311
Additions - 499 499
As at 31 March 2024 10,311 499 10,810
Depreciation
As at 1 April 2023 2,062 - 2,062
Provided during the period 1,650 66 1,716
As at 31 March 2024 3,712 66 3,778
Net Book Value
As at 31 March 2024 6,599 433 7,032
As at 1 April 2023 8,249 - 8,249
5. Stocks
2024 2023
£ £
Finished goods 14,500 10,000
Page 5
Page 6
6. Debtors
2024 2023
£ £
Due within one year
Other debtors 50,000 19,100
VAT 8,553 19,131
58,553 38,231
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts - 1,525
Trade creditors - 1
Bank loans and overdrafts 10,159 10,000
Corporation tax 44,678 13,951
Other taxes and social security 792 -
Accruals and deferred income - 1,984
Director's loan account 3,286 -
58,915 27,461
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Trade creditors 6,850 4,620
Bank loans 14,052 22,387
Net wages 722 1,583
21,624 28,590
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year - 1,525
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 6