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REGISTERED NUMBER: 07945032 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

PROJECT-ION LTD.

PROJECT-ION LTD. (REGISTERED NUMBER: 07945032)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

PROJECT-ION LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Ms H L Barker
S N Pegg





REGISTERED OFFICE: 45 Queen Street
Deal
Kent
CT14 6EY





REGISTERED NUMBER: 07945032 (England and Wales)





ACCOUNTANTS: Higson & Co (Deal) Ltd
45 Queen Street
Deal
Kent
CT14 6EY

PROJECT-ION LTD. (REGISTERED NUMBER: 07945032)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,516 5,921
Investments 5 24,617 20,701
29,133 26,622

CURRENT ASSETS
Debtors 6 4,924 1,873
Cash at bank 37,391 40,287
42,315 42,160
CREDITORS
Amounts falling due within one year 7 42,238 39,453
NET CURRENT ASSETS 77 2,707
TOTAL ASSETS LESS CURRENT
LIABILITIES

29,210

29,329

PROVISIONS FOR LIABILITIES 856 133
NET ASSETS 28,354 29,196

CAPITAL AND RESERVES
Called up share capital 8 100 100
Fair value reserve 9 3,647 568
Retained earnings 24,607 28,528
SHAREHOLDERS' FUNDS 28,354 29,196

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

PROJECT-ION LTD. (REGISTERED NUMBER: 07945032)

BALANCE SHEET - continued
29 FEBRUARY 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 November 2024 and were signed on its behalf by:





Ms H L Barker - Director


PROJECT-ION LTD. (REGISTERED NUMBER: 07945032)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Project-Ion 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 financial statements are presented in round pounds £ 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pension costs and other post-retirement benefits
The directors pension contributions represents company contributions in to the directors personal pension schemes and are charged to the profit and loss account in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

PROJECT-ION LTD. (REGISTERED NUMBER: 07945032)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2023 4,453 18,790 23,243
Additions - 1,626 1,626
At 29 February 2024 4,453 20,416 24,869
DEPRECIATION
At 1 March 2023 1,891 15,431 17,322
Charge for year 513 2,518 3,031
At 29 February 2024 2,404 17,949 20,353
NET BOOK VALUE
At 29 February 2024 2,049 2,467 4,516
At 28 February 2023 2,562 3,359 5,921

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 March 2023 20,701
Revaluations 3,802
Dividends received 114
At 29 February 2024 24,617
NET BOOK VALUE
At 29 February 2024 24,617
At 28 February 2023 20,701

Cost or valuation at 29 February 2024 is represented by:

Other
investments
£   
Valuation in 2023 701
Valuation in 2024 3,802
Cost 20,114
24,617

PROJECT-ION LTD. (REGISTERED NUMBER: 07945032)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,148 1,070
Prepayments 776 803
4,924 1,873

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 240 72
Tax 20,943 17,276
Social security and other taxes 118 152
VAT 4,903 8,794
Other creditors - 1,048
Directors' current accounts 14,997 11,108
Accrued expenses 1,037 1,003
42,238 39,453

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Fair
value
reserve
£   
At 1 March 2023 568
Revaluations 3,079

At 29 February 2024 3,647

PROJECT-ION LTD.

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
PROJECT-ION LTD.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 29 February 2024 set out on pages one to ten and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Higson & Co (Deal) Ltd
45 Queen Street
Deal
Kent
CT14 6EY


Date: .............................................