Acorah Software Products - Accounts Production 15.0.600 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 06804793 A Chicken iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06804793 2023-01-31 06804793 2024-01-31 06804793 2023-02-01 2024-01-31 06804793 frs-core:CurrentFinancialInstruments 2024-01-31 06804793 frs-core:Non-currentFinancialInstruments 2024-01-31 06804793 frs-core:FurnitureFittings 2024-01-31 06804793 frs-core:FurnitureFittings 2023-02-01 2024-01-31 06804793 frs-core:FurnitureFittings 2023-01-31 06804793 frs-core:MotorVehicles 2024-01-31 06804793 frs-core:MotorVehicles 2023-02-01 2024-01-31 06804793 frs-core:MotorVehicles 2023-01-31 06804793 frs-core:ShareCapital 2024-01-31 06804793 frs-core:RetainedEarningsAccumulatedLosses 2023-02-01 2024-01-31 06804793 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 06804793 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 06804793 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 06804793 frs-bus:SmallEntities 2023-02-01 2024-01-31 06804793 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 06804793 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 06804793 frs-bus:Director1 2023-02-01 2024-01-31 06804793 frs-core:CurrentFinancialInstruments 1 2024-01-31 06804793 frs-countries:EnglandWales 2023-02-01 2024-01-31 06804793 2022-01-31 06804793 2023-01-31 06804793 2022-02-01 2023-01-31 06804793 frs-core:CurrentFinancialInstruments 2023-01-31 06804793 frs-core:Non-currentFinancialInstruments 2023-01-31 06804793 frs-core:ShareCapital 2022-01-31 06804793 frs-core:ShareCapital 2023-01-31 06804793 frs-core:RetainedEarningsAccumulatedLosses 2022-02-01 2023-01-31 06804793 frs-core:RetainedEarningsAccumulatedLosses frs-core:PreviouslyStatedAmount 2022-01-31 06804793 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31 06804793 frs-core:CurrentFinancialInstruments 1 2023-01-31
Registered number: 06804793
Project Energy Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: 06804793
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 22,087 38,780
22,087 38,780
CURRENT ASSETS
Debtors 5 87,377 68,953
Cash at bank and in hand 13,645 16,651
101,022 85,604
Creditors: Amounts Falling Due Within One Year 6 (85,146 ) (70,931 )
NET CURRENT ASSETS (LIABILITIES) 15,876 14,673
TOTAL ASSETS LESS CURRENT LIABILITIES 37,963 53,453
Creditors: Amounts Falling Due After More Than One Year 7 (5,729 ) (19,479 )
NET ASSETS 32,234 33,974
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 32,233 33,973
SHAREHOLDERS' FUNDS 32,234 33,974
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
A Chicken
Director
04/10/2024
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 February 2022 1 18,706 18,707
Profit for the year and total comprehensive income - 17,267 17,267
Dividends paid - (2,000) (2,000)
As at 31 January 2023 and 1 February 2023 1 33,973 33,974
Loss for the year and total comprehensive income - (740 ) (740)
Dividends paid - (1,000) (1,000)
As at 31 January 2024 1 32,233 32,234
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Project Energy Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06804793 . The registered office is 8 Sheep Hey, Leaches Road,Ramsbottom, Bury, BL0 0ND.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Significant judgements and estimations
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
There have been no judgements, estimates or assumptions made in the preparation of these financial statements.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% straight line
Fixtures & Fittings 25% straight line
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 4
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2.5. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 February 2023 65,044 3,999 69,043
As at 31 January 2024 65,044 3,999 69,043
Depreciation
As at 1 February 2023 27,056 3,207 30,263
Provided during the period 16,261 432 16,693
As at 31 January 2024 43,317 3,639 46,956
Net Book Value
As at 31 January 2024 21,727 360 22,087
As at 1 February 2023 37,988 792 38,780
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 81,672 67,789
Prepayments and accrued income 1,718 1,164
CIS Asset 3,987 -
87,377 68,953
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 4,127 3,674
Other loans 13,750 13,750
Corporation tax 1,979 5,619
VAT 19,388 14,990
CIS Liability 270 -
Accruals and deferred income 27,767 10,402
Director's loan account 17,865 22,496
85,146 70,931
Page 5
Page 6
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 5,729 19,479
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 6