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Registered number: 03157836














INFRASTRUCTURE PROJECT DEVELOPMENT LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

 
INFRASTRUCTURE PROJECT DEVELOPMENT LTD
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 6


 
INFRASTRUCTURE PROJECT DEVELOPMENT LTD
REGISTERED NUMBER:03157836

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
656
981

Current assets
  

Debtors: amounts falling due within one year
 5 
45,952
36,972

Cash at bank and in hand
  
1,576
1,223

  
47,528
38,195

Creditors: amounts falling due within one year
 6 
(46,109)
(41,103)

Net current assets/(liabilities)
  
 
 
1,419
 
 
(2,908)

Total assets less current liabilities
  
2,075
(1,927)

Provisions for liabilities
  

Deferred tax
 7 
(125)
(186)

Net assets/(liabilities)
  
1,950
(2,113)


Capital and reserves
  

Called up share capital 
 8 
261
261

Share premium account
  
24,958
24,958

Profit and loss account
  
(23,269)
(27,332)

  
1,950
(2,113)


Page 1

 
INFRASTRUCTURE PROJECT DEVELOPMENT LTD
REGISTERED NUMBER:03157836
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




T Laufer
Director

Date: 25 September 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
INFRASTRUCTURE PROJECT DEVELOPMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Infrastructure Project Development Limited is a limited liability company registered in England and Wales with its registered office at Titan Court, 3 Bishops Square Business Park, Hatfield, Hertfordshire, AL10 9NA.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

The principal activity of the company continued to be that of contractors in Sub Saharan Africa.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the assumption that the company is able to carry on business as a going concern. The directors consider that this is appropriate as one of the shareholders, has provided an unlimited guarantee against the banking facilities and will provide loans to the company as required to enable it to continue trading for the foreseeable future.

 
2.3

Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
Revenue is recognised at the point that the right to receive consideration arises.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
INFRASTRUCTURE PROJECT DEVELOPMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures & fittings
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Debtors

Short term and long term debtors are measured at transaction price, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty.

 
2.7

Creditors

Short term creditors are measured at the transaction price.

 
2.8

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.


3.


Employees




The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 4

 
INFRASTRUCTURE PROJECT DEVELOPMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Fixtures & fittings

£



Cost


At 1 January 2023
18,801



At 31 December 2023

18,801



Depreciation


At 1 January 2023
17,821


Charge for the year on owned assets
324



At 31 December 2023

18,145



Net book value



At 31 December 2023
656



At 31 December 2022
981


5.


Debtors

2023
2022
£
£


Other debtors
44,877
35,923

Prepayments and accrued income
1,075
1,049

45,952
36,972


Other debtors include a balance of £25,766 (2022 - £5,107) for overdrawn director's loan account.


6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
7,643
831

Taxation and social security
-
7,228

Other creditors
33,185
28,159

Accruals and deferred income
5,281
4,885

46,109
41,103


Page 5

 
INFRASTRUCTURE PROJECT DEVELOPMENT LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Deferred taxation




2023


£






At beginning of year
(186)


Utilised in year
61



At end of year
(125)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(125)
(186)


8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



4 (2022 - 4) Deferred Ordinary shares of £1 each
4
4
400 (2022 - 400) Ordinary US$ shares of $1 each
257
257

261

261


 
Page 6