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REGISTERED NUMBER: 11397016 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Project Nine Property Group Ltd

Project Nine Property Group Ltd (Registered number: 11397016)






Contents of the Financial Statements
for the year ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Project Nine Property Group Ltd

Company Information
for the year ended 30 June 2024







DIRECTORS: S Holman
J P Holman





SECRETARY:





REGISTERED OFFICE: Warden House
37 Manor Road
Colchester
Essex
CO3 3LX





REGISTERED NUMBER: 11397016 (England and Wales)





ACCOUNTANTS: Tile & Co
Warden House
37 Manor Road
Colchester
Essex
CO3 3LX

Project Nine Property Group Ltd (Registered number: 11397016)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 48,260 33,553

CURRENT ASSETS
Stocks 9,800 10,500
Debtors 5 121,022 90,715
Cash at bank 64,344 4,791
195,166 106,006
CREDITORS
Amounts falling due within one year 6 192,482 157,263
NET CURRENT ASSETS/(LIABILITIES) 2,684 (51,257 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

50,944

(17,704

)

CREDITORS
Amounts falling due after more than one
year

7

49,217

40,642
NET ASSETS/(LIABILITIES) 1,727 (58,346 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,627 (58,446 )
1,727 (58,346 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by:





J P Holman - Director


Project Nine Property Group Ltd (Registered number: 11397016)

Notes to the Financial Statements
for the year ended 30 June 2024

1. STATUTORY INFORMATION

Project Nine Property Group Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

Project Nine Property Group Ltd (Registered number: 11397016)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 67,426
Additions 29,195
At 30 June 2024 96,621
DEPRECIATION
At 1 July 2023 33,873
Charge for year 14,488
At 30 June 2024 48,361
NET BOOK VALUE
At 30 June 2024 48,260
At 30 June 2023 33,553

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 40,189 58,366
Other debtors 80,833 32,349
121,022 90,715

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 18,898 2,620
Hire purchase contracts 14,147 8,179
Trade creditors 122,418 98,859
Amounts owed to group undertakings 1,430 3,000
Taxation and social security 27,515 41,435
Other creditors 8,074 3,170
192,482 157,263

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans 15,262 17,949
Hire purchase contracts 33,955 22,693
49,217 40,642

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 3,818 6,787

Project Nine Property Group Ltd (Registered number: 11397016)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24 30.6.23
£    £   
S Holman
Balance outstanding at start of year 12,618 -
Amounts advanced 24,753 12,618
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 37,371 12,618

J P Holman
Balance outstanding at start of year 19,731 -
Amounts advanced 23,732 19,731
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 43,463 19,731