Company Registration No. 07962617 (England and Wales)
PDP Projects Limited
Unaudited accounts
for the year ended 31 March 2024
PDP Projects Limited
Unaudited accounts
Contents
PDP Projects Limited
Company Information
for the year ended 31 March 2024
Company Number
07962617 (England and Wales)
Registered Office
The Granary
Churchfield Farm
Oundle
Peterborough
Cambridgeshire
PE8 5AU
England
Accountants
Cedar House Accounting
67 Stephens Way
Deeping St James
Peterborough
PE6 8EJ
PDP Projects Limited
Statement of financial position
as at 31 March 2024
Intangible assets
5,672
6,930
Tangible assets
41,880
44,610
Inventories
330,173
181,937
Cash at bank and in hand
237,334
94,536
Creditors: amounts falling due within one year
(926,600)
(458,357)
Net current assets
101,541
99,278
Total assets less current liabilities
149,093
150,818
Creditors: amounts falling due after more than one year
(66,667)
(116,667)
Provisions for liabilities
Deferred tax
(5,238)
(7,383)
Called up share capital
310
310
Profit and loss account
76,878
26,458
Shareholders' funds
77,188
26,768
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 members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 18 September 2024 and were signed on its behalf by
Mr M Parry
Director
Company Registration No. 07962617
PDP Projects Limited
Notes to the Accounts
for the year ended 31 March 2024
PDP Projects Limited is a private company, limited by shares, registered in England and Wales, registration number 07962617. The registered office is The Granary, Churchfield Farm, Oundle, Peterborough, Cambridgeshire, PE8 5AU, England.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling, which is the functional currency of the entity.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Website Costs : 20% Straight Line
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
PDP Projects Limited
Notes to the Accounts
for the year ended 31 March 2024
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
33% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
15% Reducing Balance
Computer equipment
15% Reducing Balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Intangible fixed assets
Other
5
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2023
13,544
31,552
39,682
84,778
Additions
-
3,275
1,084
4,359
At 31 March 2024
13,544
34,827
40,766
89,137
At 1 April 2023
11,340
13,208
15,620
40,168
Charge for the year
729
2,698
3,662
7,089
At 31 March 2024
12,069
15,906
19,282
47,257
At 31 March 2024
1,475
18,921
21,484
41,880
At 31 March 2023
2,204
18,344
24,062
44,610
PDP Projects Limited
Notes to the Accounts
for the year ended 31 March 2024
Amounts falling due within one year
Trade debtors
390,137
217,848
Accrued income and prepayments
33,979
46,796
Other debtors
36,518
16,518
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
50,000
80,446
Trade creditors
540,079
258,024
Taxes and social security
150,761
80,568
Other creditors
9,890
2,073
Loans from directors
32,866
(48,943)
8
Creditors: amounts falling due after more than one year
2024
2023
9
Operating lease commitments
2024
2023
At 31 March 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
64,856
53,158
Later than one year and not later than five years
170,709
175,583
Later than five years
-
28,147
During the year, the directors loan balance brought forward from 2023 was repaid. As at 31 March 2024, the Directors loan account balance due to be paid is £32,865.71
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Average number of employees
During the year the average number of employees was 12 (2023: 8).