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REGISTERED NUMBER: 02686362 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

PROJECTS 2000 LIMITED

PROJECTS 2000 LIMITED (REGISTERED NUMBER: 02686362)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 29 February 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PROJECTS 2000 LIMITED

COMPANY INFORMATION
for the year ended 29 February 2024







DIRECTORS: Mr M J Harris
Mrs P C R Harris





SECRETARY: Mrs P C R Harris





REGISTERED OFFICE: Ross Green
Wichenford
Worcestershire
WR6 6YU





REGISTERED NUMBER: 02686362 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
16 Davy Court
Castle Mound Way
Rugby, CV23 0UZ
Magma Audit LLP is part
Of the Dains Group

PROJECTS 2000 LIMITED (REGISTERED NUMBER: 02686362)

BALANCE SHEET
29 February 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 7,730 8,588
Investments 5 2 2
7,732 8,590

CURRENT ASSETS
Stocks 103,307 103,307
Debtors 6 3,148 1,911
106,455 105,218
CREDITORS
Amounts falling due within one year 7 (86,392 ) (82,968 )
NET CURRENT ASSETS 20,063 22,250
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,795

30,840

CREDITORS
Amounts falling due after more than one
year

8

(13,153

)

(15,312

)
NET ASSETS 14,642 15,528

CAPITAL AND RESERVES
Called up share capital 13,410 13,410
Retained earnings 1,232 2,118
SHAREHOLDERS' FUNDS 14,642 15,528

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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 November 2024 and were signed on its behalf by:



Mr M J Harris - Director


PROJECTS 2000 LIMITED (REGISTERED NUMBER: 02686362)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 29 February 2024


1. STATUTORY INFORMATION

Projects 2000 Limited is a limited company, limited by shares and registered in England adn Wales. Its registered office address is Ross Green, Winchford, Worcestershire, WR6 6YU and the registered number is 02686362.

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.

The financial statements are presented in pound sterling and rounded to the nearest pound.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Computer Equipment - 10%On reducing balance

The asset's residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Investments in subsidiaries
Investment in the subsidiary company is held at cost less accumulated impairment losses.

Work in progress
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

PROJECTS 2000 LIMITED (REGISTERED NUMBER: 02686362)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 29 February 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate.

Taxation
Taxation expense for the period comprises current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it related to items recognised in other comprehensive income or directly in equity. In this case tax is also recognised in other comprehensive income or directly in equity respectively.
The tax expense for the year comprises current and deferred tax.

Tax is recognised in the profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or direct in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
-Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowance have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 March 2023
and 29 February 2024 43,269
DEPRECIATION
At 1 March 2023 34,681
Charge for year 858
At 29 February 2024 35,539
NET BOOK VALUE
At 29 February 2024 7,730
At 28 February 2023 8,588

PROJECTS 2000 LIMITED (REGISTERED NUMBER: 02686362)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 29 February 2024


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2023
and 29 February 2024 2
NET BOOK VALUE
At 29 February 2024 2
At 28 February 2023 2

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,753 1,266
Amounts owed by participating interests 280 280
Other debtors 115 365
3,148 1,911

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 21,122 20,344
Trade creditors 8,276 1,603
Amounts owed to group undertakings - 21,566
Other creditors 56,994 39,455
86,392 82,968

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 13,153 15,312

9. RELATED PARTY DISCLOSURES

A director is a shareholder of W W Harris Developments Limited. At 28 February 2024, W W Harris Developments Limited owed the company £280 (2023: £280).

During the year, a balance due to another related company has been written off in the amount of £21,556.