Registered number
07109562
M Solman Project Management Limited
Unaudited Filleted Accounts
31 December 2023
M Solman Project Management Limited
Registered number: 07109562
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 733 1,200
Current assets
Debtors 5 15,220 15,546
Cash at bank and in hand 16,157 15,308
31,377 30,854
Creditors: amounts falling due within one year 6 (29,395) (28,990)
Net current assets 1,982 1,864
Total assets less current liabilities 2,715 3,064
Provisions for liabilities (161) -
Net assets 2,554 3,064
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 1,554 2,064
Shareholders' funds 2,554 3,064
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M Solman
Director
Approved by the board on 31 August 2024
M Solman Project Management Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes (under the flat rate scheme). Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 10,100
At 31 December 2023 10,100
Amortisation
At 1 January 2023 10,100
At 31 December 2023 10,100
Net book value
At 31 December 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 5,792
At 31 December 2023 5,792
Depreciation
At 1 January 2023 4,592
Charge for the year 467
At 31 December 2023 5,059
Net book value
At 31 December 2023 733
At 31 December 2022 1,200
5 Debtors 2023 2022
£ £
Trade debtors 14,620 8,166
Other debtors 600 7,380
15,220 15,546
6 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 27,121 23,377
Other creditors 2,274 5,613
29,395 28,990
7 Other information
M Solman Project Management Limited is a private company limited by shares and incorporated in England. Its registered office is:
Wildwood
Woodbank
Loosley Row, Princes Risborough
Bucks
HP27 0TS
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