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REGISTERED NUMBER: 05135615 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

PROJECT FLOORING (UK) LIMITED

PROJECT FLOORING (UK) LIMITED (REGISTERED NUMBER: 05135615)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROJECT FLOORING (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: G A Bowler
D Bowler





SECRETARY: D Bowler





REGISTERED OFFICE: B15 Laser Quay
Culpepper Close
Medway City Estate
Rochester
Kent
ME2 4HU





REGISTERED NUMBER: 05135615 (England and Wales)





ACCOUNTANTS: Friend & Grant Ltd
Bryant House
Bryant Road
Strood
Rochester
Kent
ME2 3EW

PROJECT FLOORING (UK) LIMITED (REGISTERED NUMBER: 05135615)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 49,713 32,690
Investments 6 34,003 -
83,716 32,690

CURRENT ASSETS
Stocks 27,985 26,667
Debtors 7 257,482 231,058
Cash at bank 446 44,529
285,913 302,254
CREDITORS
Amounts falling due within one year 8 190,908 220,583
NET CURRENT ASSETS 95,005 81,671
TOTAL ASSETS LESS CURRENT
LIABILITIES

178,721

114,361

CREDITORS
Amounts falling due after more than one
year

9

(28,306

)

(21,595

)

PROVISIONS FOR LIABILITIES (11,931 ) (7,381 )
NET ASSETS 138,484 85,385

CAPITAL AND RESERVES
Called up share capital 131 131
Retained earnings 138,353 85,254
SHAREHOLDERS' FUNDS 138,484 85,385

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 FLOORING (UK) LIMITED (REGISTERED NUMBER: 05135615)

BALANCE SHEET - continued
30 APRIL 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 November 2024 and were signed on its behalf by:




G A Bowler - Director



D Bowler - Director


PROJECT FLOORING (UK) LIMITED (REGISTERED NUMBER: 05135615)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Project Flooring (UK) Limited 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. STATEMENT OF COMPLIANCE

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 presentation and disclosure requirements of Section 1A applicable to small companies, and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable from the sale of goods or exchange of services, excluding discounts, rebates, value added tax and other sales taxes. Turnover is not recognised when goods or services are exchanged for goods or services that are of a similar nature and value or when the transaction lacks commercial substance.

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

- the company has transferred the significant risks and rewards of ownership to the buyer;
- the company retains neither continuing managerial involvement to the degree usually associated with the ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the transaction;
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

The percentage of completion method is used to calculate the revenue recognised at the period end.

Turnover from the rendering of services is recognised when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the economic benefits associated with the transaction will flow to the entity;
- the stage of completion of the transaction at the end of the reporting period can be measured reliably; and
- the costs incurred for the transaction and the costs to complete the transaction can be measured reliably.

PROJECT FLOORING (UK) LIMITED (REGISTERED NUMBER: 05135615)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Leasehold improvements - 33% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Investments in associates
Investments in associate undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 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
Assets held under finance lease and hire purchase contracts are capitalised in the balance sheet and depreciated over their expected useful lives. The interest element of the leasing payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the lease.

All other leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight line basis over the lease term.

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.

PROJECT FLOORING (UK) LIMITED (REGISTERED NUMBER: 05135615)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


3. ACCOUNTING POLICIES - continued

Employee benefits
The company recognises a provision for annual leave accrued by employees as a result of services rendered in current period, and which employees are entitled to carry forward and use within the next 12 months. The provision is measured at the salary cost payable for the period of absence.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and Motor
improvements machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 May 2023 3,120 9,606 13,672 40,079 66,477
Additions - - 435 40,717 41,152
Disposals - - - (7,267 ) (7,267 )
At 30 April 2024 3,120 9,606 14,107 73,529 100,362
DEPRECIATION
At 1 May 2023 2,160 3,040 10,646 17,941 33,787
Charge for year 960 1,313 692 13,897 16,862
At 30 April 2024 3,120 4,353 11,338 31,838 50,649
NET BOOK VALUE
At 30 April 2024 - 5,253 2,769 41,691 49,713
At 30 April 2023 960 6,566 3,026 22,138 32,690

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 26,995
At 30 April 2024 26,995
DEPRECIATION
Charge for year 6,748
At 30 April 2024 6,748
NET BOOK VALUE
At 30 April 2024 20,247

PROJECT FLOORING (UK) LIMITED (REGISTERED NUMBER: 05135615)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


6. FIXED ASSET INVESTMENTS

2024 2023
£    £   
Participating interests 50 -
Loans to undertakings in which the
company has a participating interest

33,953

-
34,003 -

Additional information is as follows:
Interest
in
associate
£   
COST
Additions 50
At 30 April 2024 50
NET BOOK VALUE
At 30 April 2024 50
Loans to
associates
£   
New in year 33,953
At 30 April 2024 33,953

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 180,479 150,388
Other debtors 77,003 80,670
257,482 231,058

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,225 9,972
Hire purchase contracts 6,238 -
Trade creditors 114,591 162,949
Taxation and social security 39,861 26,111
Other creditors 19,993 21,551
190,908 220,583

PROJECT FLOORING (UK) LIMITED (REGISTERED NUMBER: 05135615)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 11,370 21,595
Hire purchase contracts 16,936 -
28,306 21,595

10. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £68,283 (2023: £96,275).

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
G A Bowler
Balance outstanding at start of year (19 ) -
Amounts advanced 10,963 9,288
Amounts repaid (10,944 ) (9,307 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (19 )

D Bowler
Balance outstanding at start of year (15,626 ) (5,676 )
Amounts advanced 14,285 2,637
Amounts repaid (5,478 ) (12,587 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (6,819 ) (15,626 )

The loan from the director D Bowler to the company is unsecured, interest free and repayable on demand.

The loan from the director G Bowler to the company was unsecured, interest free and repayable on demand.