Black Tower Projects Ltd 11198300 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is that of an art gallery Digita Accounts Production Advanced 6.30.9574.0 true 11198300 2023-03-01 2024-02-29 11198300 2024-02-29 11198300 core:CurrentFinancialInstruments 2024-02-29 11198300 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 11198300 core:FurnitureFittingsToolsEquipment 2024-02-29 11198300 bus:SmallEntities 2023-03-01 2024-02-29 11198300 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 11198300 bus:FilletedAccounts 2023-03-01 2024-02-29 11198300 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 11198300 bus:RegisteredOffice 2023-03-01 2024-02-29 11198300 bus:Director1 2023-03-01 2024-02-29 11198300 bus:CompanyLimitedByGuarantee 2023-03-01 2024-02-29 11198300 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 11198300 core:OfficeEquipment 2023-03-01 2024-02-29 11198300 core:KeyManagementPersonnel 2023-03-01 2024-02-29 11198300 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-03-01 2024-02-29 11198300 countries:EnglandWales 2023-03-01 2024-02-29 11198300 2023-02-28 11198300 core:FurnitureFittingsToolsEquipment 2023-02-28 11198300 2022-03-01 2023-02-28 11198300 2023-02-28 11198300 core:CurrentFinancialInstruments 2023-02-28 11198300 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 11198300 core:FurnitureFittingsToolsEquipment 2023-02-28 iso4217:GBP xbrli:pure

Registration number: 11198300

Black Tower Projects Ltd

(A company limited by guarantee)

Filleted Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 29 February 2024

 

Black Tower Projects Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Black Tower Projects Ltd

Company Information

Director

Mr P Serfaty

Registered office

Black Tower, Unit 8A
Abbey Trading Estate
Bell Green Lane
London
SE26 5TW

Accountants

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

Black Tower Projects Ltd

(Registration number: 11198300)
Abridged Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,374

3,078

Current assets

 

Debtors

266

853

Cash at bank and in hand

 

3,084

7,068

 

3,350

7,921

Prepayments and accrued income

 

184

160

Creditors: Amounts falling due within one year

(5,555)

(5,076)

Net current (liabilities)/assets

 

(2,021)

3,005

Total assets less current liabilities

 

1,353

6,083

Accruals and deferred income

 

(1,350)

(1,290)

Net assets

 

3

4,793

Reserves

 

Retained earnings

3

4,793

Surplus

 

3

4,793

 

Black Tower Projects Ltd

(Registration number: 11198300)
Abridged Balance Sheet as at 29 February 2024

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 November 2024
 

.........................................

Mr P Serfaty
Director

 

Black Tower Projects Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
Black Tower, Unit 8A
Abbey Trading Estate
Bell Green Lane
London
SE26 5TW

These financial statements were authorised for issue by the director on 29 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Black Tower Projects Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, Fittings and Equipment

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Black Tower Projects Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Tangible assets

Furniture, Fittings and Equipment
£

Total
£

Cost or valuation

At 1 March 2023

5,197

5,197

Additions

1,093

1,093

At 29 February 2024

6,290

6,290

Depreciation

At 1 March 2023

2,119

2,119

Charge for the year

797

797

At 29 February 2024

2,916

2,916

Carrying amount

At 29 February 2024

3,374

3,374

At 28 February 2023

3,078

3,078

 

Black Tower Projects Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 29 February 2024

5

Related party transactions

Key management personnel

Director

Summary of transactions with key management

During the year the director made unsecured, interest free, repayable on demand loans to the company. At the balance sheet date the amount owed to the director was £4,604 (2023 - £3,503).