Prometheus Projects (International) Limited 09424811 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is consultancy services. Digita Accounts Production Advanced 6.30.9574.0 true true 09424811 2023-03-01 2024-02-29 09424811 2024-02-29 09424811 core:RetainedEarningsAccumulatedLosses 2024-02-29 09424811 core:ShareCapital 2024-02-29 09424811 core:CurrentFinancialInstruments 2024-02-29 09424811 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 09424811 core:OfficeEquipment 2024-02-29 09424811 bus:SmallEntities 2023-03-01 2024-02-29 09424811 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 09424811 bus:FilletedAccounts 2023-03-01 2024-02-29 09424811 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 09424811 bus:RegisteredOffice 2023-03-01 2024-02-29 09424811 bus:Director2 2023-03-01 2024-02-29 09424811 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 09424811 core:OfficeEquipment 2023-03-01 2024-02-29 09424811 countries:EnglandWales 2023-03-01 2024-02-29 09424811 core:OfficeEquipment 2023-02-28 09424811 2022-03-01 2023-02-28 09424811 2023-02-28 09424811 core:RetainedEarningsAccumulatedLosses 2023-02-28 09424811 core:ShareCapital 2023-02-28 09424811 core:CurrentFinancialInstruments 2023-02-28 09424811 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 09424811 core:OfficeEquipment 2023-02-28 iso4217:GBP xbrli:pure

Registration number: 09424811

Prometheus Projects (International) Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Prometheus Projects (International) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Prometheus Projects (International) Limited

Company Information

Director

M Archer

Registered office

25 Armscroft Place
Gloucester
GL2 0SW

Accountants

Burton Sweet Limited
Chartered Accountants and Business Advisers
Spencer House
6 Morston Court
Aisecome Way
Weston-super-Mare
North Somerset
BS22 8NG

 

Prometheus Projects (International) Limited

(Registration number: 09424811)
Balance Sheet
29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

446

284

Current assets

 

Stocks

6

1,600

-

Debtors

7

3,764

4,020

Cash at bank and in hand

 

117,540

147,319

 

122,904

151,339

Creditors: Amounts falling due within one year

8

(44,995)

(96,398)

Net current assets

 

77,909

54,941

Net assets

 

78,355

55,225

Capital and reserves

 

Called up share capital

2

2

Retained earnings

78,353

55,223

Shareholders' funds

 

78,355

55,225

 

Prometheus Projects (International) Limited

(Registration number: 09424811)
Balance Sheet
29 February 2024

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 6 November 2024
 

.........................................
M Archer
Director

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Prometheus Projects (International) Limited

Notes to the Unaudited Financial Statements
Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
25 Armscroft Place
Gloucester
GL2 0SW

These financial statements were authorised for issue by the director on 6 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Prometheus Projects (International) Limited

Notes to the Unaudited Financial Statements
Year Ended 29 February 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Stocks

Work in progress is recognised as operating income as incurred. This represents unbilled time charges which are valued at the appropriate rate, for the financial year in which the work was undertaken and the accrued cost of disbursements.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Prometheus Projects (International) Limited

Notes to the Unaudited Financial Statements
Year Ended 29 February 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Prometheus Projects (International) Limited

Notes to the Unaudited Financial Statements
Year Ended 29 February 2024

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

363

95

5

Tangible assets

Office equipment
£

Cost or valuation

At 1 March 2023

1,514

Additions

524

At 29 February 2024

2,038

Depreciation

At 1 March 2023

1,230

Charge for the year

362

At 29 February 2024

1,592

Carrying amount

At 29 February 2024

446

At 28 February 2023

284

6

Stocks

2024
£

2023
£

Work in progress

1,600

-

7

Debtors

2024
£

2023
£

Other debtors

1,714

3,200

Gross amount due from customers for contract work

2,050

820

3,764

4,020

 

Prometheus Projects (International) Limited

Notes to the Unaudited Financial Statements
Year Ended 29 February 2024

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

16,623

16,174

Accruals and deferred income

1,053

818

Other creditors

27,319

79,406

44,995

96,398