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Registered number: 08873837
Renewables Project Management Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
Paul Monaghan Chartered Accountant
ICAEW
18 Hartshill Close
Uxbridge
Middlesex
UB10 9LH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08873837
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 77,762 98,072
77,762 98,072
CURRENT ASSETS
Debtors 5 1,186 5,490
Cash at bank and in hand 2,094 5,208
3,280 10,698
Creditors: Amounts Falling Due Within One Year 6 (19,146 ) (31,036 )
NET CURRENT ASSETS (LIABILITIES) (15,866 ) (20,338 )
TOTAL ASSETS LESS CURRENT LIABILITIES 61,896 77,734
PROVISIONS FOR LIABILITIES
Deferred Taxation (14,775 ) (18,634 )
NET ASSETS 47,121 59,100
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account 47,120 59,099
SHAREHOLDERS' FUNDS 47,121 59,100
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Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Krishma Shah
Director
17 November 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Renewables Project Management Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08873837 . The registered office is Cedar House 2 Vine Ln, Office 2.4, Uxbridge, UB10 0NF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
The turnover shown in the profit and loss account represents the fair value of construction services revenue earned during the period based on work done for and accepted by clients, excluding VAT.
Turnover from the rendering of construction services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 5 years
Motor Vehicles 5 years
Fixtures & Fittings 5 years
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 3)
2 3
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 March 2023 8,450 90,713 2,472 101,635
As at 29 February 2024 8,450 90,713 2,472 101,635
Depreciation
As at 1 March 2023 1,119 2,348 96 3,563
Provided during the period 1,689 18,127 494 20,310
As at 29 February 2024 2,808 20,475 590 23,873
Net Book Value
As at 29 February 2024 5,642 70,238 1,882 77,762
As at 1 March 2023 7,331 88,365 2,376 98,072
5. Debtors
2024 2023
£ £
Due within one year
VAT 1,186 5,490
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 458 5,074
Corporation tax - 3,458
Accruals and deferred income 2,000 1,000
Director's loan account 16,688 21,504
19,146 31,036
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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