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PROJEX INVESTMENTS LTD

(formerly PROJEX INVESTMENTS AND DEVELOPMENTS LTD)

Registered Number
13048947
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

PROJEX INVESTMENTS LTD
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

KEARSEY, James Stuart
WARD, Bradley Mark

Registered Address

1 Gemini Court, 42a Throwley Way
Sutton
SM1 4AF

Registered Number

13048947 (England and Wales)
PROJEX INVESTMENTS LTD
Statement of Financial Position
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Investment property31,037,558383,837
1,037,558383,837
Current assets
Debtors418,6609,420
Cash at bank and on hand10,53137,314
29,19146,734
Prepayments and accrued income1,875-
Creditors amounts falling due within one year5(808,396)(142,302)
Net current assets (liabilities)(777,330)(95,568)
Total assets less current liabilities260,228288,269
Creditors amounts falling due after one year6(257,045)(257,045)
Provisions for liabilities7(514)(5,781)
Net assets2,66925,443
Capital and reserves
Called up share capital1,0001,000
Revaluation reserve48,29848,298
Profit and loss account(46,629)(23,855)
Shareholders' funds2,66925,443
The financial statements were approved and authorised for issue by the Board of Directors on 20 August 2024, and are signed on its behalf by:
KEARSEY, James Stuart
Director
Registered Company No. 13048947
PROJEX INVESTMENTS LTD
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
2.Average number of employees

20232022
Average number of employees during the year22
3.Investment property
The fair value of the following investment property has been arrived at on the basis of a valuation carried out by the directors as at 30/11/2023 on an open market value basis by reference to market evidence of transactions prices for similar properties.

£
Fair value at 01 December 22383,837
Additions653,721
At 30 November 231,037,558
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables13,5004,250
Other debtors5,1605,170
Total18,6609,420
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables2,531-
Bank borrowings and overdrafts262,341-
Taxation and social security421-
Other creditors540,307140,316
Accrued liabilities and deferred income2,7961,986
Total808,396142,302
The company has fixed charges over the properties at 1 The Timbers, Park Road, Sutton SM3,9PZ and 170 High Street, Banstead SM7 2NZ with Paragon Bank PLC and Magnet Capital Limited.
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts257,045257,045
Total257,045257,045
7.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)5145,781
Total5145,781