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REGISTERED NUMBER: 06013297 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Proteus Project Management Limited

Proteus Project Management Limited (Registered number: 06013297)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Proteus Project Management Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: R J Longley





SECRETARY: Mrs K L Longley





REGISTERED OFFICE: Stafford House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX





REGISTERED NUMBER: 06013297 (England and Wales)





ACCOUNTANTS: A C Mole LLP
Stafford House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX

Proteus Project Management Limited (Registered number: 06013297)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 676,428 658,572
676,428 658,572

CURRENT ASSETS
Cash at bank 54,557 59,411

CREDITORS
Amounts falling due within one year 6 106,917 77,995
NET CURRENT LIABILITIES (52,360 ) (18,584 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

624,068

639,988

PROVISIONS FOR LIABILITIES 14,337 20,655
NET ASSETS 609,731 619,333

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 609,631 619,233
SHAREHOLDERS' FUNDS 609,731 619,333

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 22 November 2024 and were signed by:





R J Longley - Director


Proteus Project Management Limited (Registered number: 06013297)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Proteus Project Management 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. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - Over 3 years on cost

Financial instruments
The company has entered into complex financial instruments in the form of investment bonds and other interest bearing securities.

The investments are initially recognised at cost on acquisition and are re-measured at their fair value at each balance sheet date. The resulting gain or loss is recognised immediately in the profit and loss account.

The company also has basic financial instruments in the form of trade debtors in relation to investment income owed to the company at the Year end.

Taxation
Taxation for the year comprises 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.

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.

Investments
Fixed asset investments are recognised initially at fair value which is normally the transaction price. Subsequently they are measured at fair value through profit or loss at each year end.

Pension costs
The company contributes to the directors personal pension plan. Contributions payable 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 NIL (2023 - NIL).

Proteus Project Management Limited (Registered number: 06013297)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 1,801
DEPRECIATION
At 1 April 2023
and 31 March 2024 1,801
NET BOOK VALUE
At 31 March 2024 -

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2023 658,572
Additions 78,083
Disposals (34,958 )
Impairments (25,269 )
At 31 March 2024 676,428
NET BOOK VALUE
At 31 March 2024 676,428
At 31 March 2023 658,572

Cost or valuation at 31 March 2024 is represented by:

Other
investments
£   
Valuation in 2024 57,350
Cost 619,078
676,428

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 619,078 575,954

Fixed asset investments were valued on an open market basis on 31 March 2024 by various portfolio providers .

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 106,917 77,995

7. RELATED PARTY DISCLOSURES

During the year, dividends of £NIL (2023: £NIL) were paid to the director in respect of ordinary shares held.

Proteus Project Management Limited (Registered number: 06013297)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. DISTRIBUTABLE RESERVES

Included within the profit and loss reserve is any change in fair value of fixed asset investments and provisions for deferred tax, which is not distributable.

The amount distributable at the 31 March 2024 is £566,619 as shown below.

£
Retained Earnings per the Balance Sheet 609,631
Revaluation reserve 43,012
Distributable reserves 566,619