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Registered number: 14640315
Padley Project Management Ltd
Unaudited Financial Statements
For the Period 6 February 2023 to 28 February 2024
MACRO ACCOUNTANCY LTD
Willows Holt Yard
Willows Holt, Willows Lane,
Sibsey, Boston
Lincolnshire
PE22 0TG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 14640315
28 February 2024
Notes £ £
CURRENT ASSETS
Stocks 4 50,000
Debtors 5 763
50,763
Creditors: Amounts Falling Due Within One Year 6 (50,739 )
NET CURRENT ASSETS (LIABILITIES) 24
TOTAL ASSETS LESS CURRENT LIABILITIES 24
NET ASSETS 24
CAPITAL AND RESERVES
Called up share capital 7 100
Profit and Loss Account (76 )
SHAREHOLDERS' FUNDS 24
Page 1
Page 2
For the period ending 28 February 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
Mr David Padley
Director
26/10/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Padley Project Management Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14640315 . The registered office is Willows Holt Yard, Willows Holt, Willows Lane, Sibsey, Boston, Lincolnshire, PE22 0TG.
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. 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.
2.3. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 1
1
4. Stocks
28 February 2024
£
Stock and work in progress 50,000
Page 3
Page 4
5. Debtors
28 February 2024
£
Due within one year
Other debtors 763
6. Creditors: Amounts Falling Due Within One Year
28 February 2024
£
Trade creditors 1
Bank loans and overdrafts 6,735
Other creditors 38,977
Taxation and social security 5,026
50,739
7. Share Capital
28 February 2024
£
Allotted, Called up and fully paid 100
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