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REGISTERED NUMBER: 05054454 (England and Wales)












Unaudited Financial Statements for the Year Ended 29 February 2024

for

NME Project Management Ltd

NME Project Management Ltd (Registered number: 05054454)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Chartered Certified Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


NME Project Management Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTORS: N M Eaton
Mrs J M Eaton
Mrs K M Kelman
R W Eaton





REGISTERED OFFICE: South Building
Upper Farm
Wootton St Lawrence
BASINGSTOKE
Hampshire
RG23 8PE





REGISTERED NUMBER: 05054454 (England and Wales)





ACCOUNTANTS: Weller Mackrill
Chartered Certified Accountants
South Building
Upper Farm
Wootton St Lawrence
Basingstoke
Hampshire
RG23 8PE

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
NME Project Management Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of NME Project Management Ltd for the year ended 29 February 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of NME Project Management Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of NME Project Management Ltd and state those matters that we have agreed to state to the Board of Directors of NME Project Management Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that NME Project Management Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of NME Project Management Ltd. You consider that NME Project Management Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of NME Project Management Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Weller Mackrill
Chartered Certified Accountants
South Building
Upper Farm
Wootton St Lawrence
Basingstoke
Hampshire
RG23 8PE


14 November 2024

NME Project Management Ltd (Registered number: 05054454)

Balance Sheet
29 February 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 445,609 385,995
Investment property 6 900,000 500,000
1,345,609 885,995

CURRENT ASSETS
Debtors 7 58,961 81,406
Cash at bank and in hand 297,659 226,548
356,620 307,954
CREDITORS
Amounts falling due within one year 8 (570,799 ) (577,087 )
NET CURRENT LIABILITIES (214,179 ) (269,133 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,131,430

616,862

CREDITORS
Amounts falling due after more than one
year

9

(68,958

)

(41,131

)

PROVISIONS FOR LIABILITIES (243,237 ) (97,053 )
NET ASSETS 819,235 478,678

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 11 513,852 285,136
Retained earnings 305,283 193,442
SHAREHOLDERS' FUNDS 819,235 478,678

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.

NME Project Management Ltd (Registered number: 05054454)

Balance Sheet - continued
29 February 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 14 November 2024 and were signed on its behalf by:





N M Eaton - Director


NME Project Management Ltd (Registered number: 05054454)

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

1. STATUTORY INFORMATION

NME Project Management Ltd 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.

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.

Turnover
Turnover represents the net value of invoiced services provided, excluding value added tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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
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.

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.

NME Project Management Ltd (Registered number: 05054454)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Going concern
The accounts have been prepared on a going concern basis, despite the fact that current liabilities exceed current assets. The directors have given an undertaking to support the company until it returns to a net assets position. They therefore consider that the going concern basis is appropriate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 170,000
AMORTISATION
At 1 March 2023
and 29 February 2024 170,000
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and
property property fittings
£    £    £   
COST
At 1 March 2023 152,743 44,918 32,571
Additions - 1,400 553
Disposals - - -
At 29 February 2024 152,743 46,318 33,124
DEPRECIATION
At 1 March 2023 - 37,334 28,168
Charge for year - 3,932 1,239
Eliminated on disposal - - -
At 29 February 2024 - 41,266 29,407
NET BOOK VALUE
At 29 February 2024 152,743 5,052 3,717
At 28 February 2023 152,743 7,584 4,403

NME Project Management Ltd (Registered number: 05054454)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 March 2023 1,246,199 3,683 1,480,114
Additions 157,950 1,098 161,001
Disposals (2,480 ) - (2,480 )
At 29 February 2024 1,401,669 4,781 1,638,635
DEPRECIATION
At 1 March 2023 1,024,934 3,683 1,094,119
Charge for year 94,455 366 99,992
Eliminated on disposal (1,085 ) - (1,085 )
At 29 February 2024 1,118,304 4,049 1,193,026
NET BOOK VALUE
At 29 February 2024 283,365 732 445,609
At 28 February 2023 221,265 - 385,995

Included in the above are assets held under hire purchase agreements. The depreciation charged during the year in respect of these assets totalled £52,926 (2023 - £31,242). The net book value in respect of these assets is £146,200 (2023 - £93,725).

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 500,000
Revaluations 400,000
At 29 February 2024 900,000
NET BOOK VALUE
At 29 February 2024 900,000
At 28 February 2023 500,000

Investment property has been revalued by the Directors to represent open market value at the balance sheet date.

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2005 15,136
Valuation in 2011 65,000
Valuation in 2019 205,000
Valuation in 2024 400,000
Cost 214,864
900,000

NME Project Management Ltd (Registered number: 05054454)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 35,798 40,157
Other debtors 23,163 41,249
58,961 81,406

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,216 10,035
Hire purchase contracts 26,730 28,237
Trade creditors 100,501 66,334
Taxation and social security 40,461 25,616
Other creditors 392,891 446,865
570,799 577,087

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 12,482 22,500
Hire purchase contracts 56,476 18,631
68,958 41,131

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 83,206 46,868

Hire purchase debt is secured against the assets they are financing.

11. RESERVES
Fair
value
reserve
£   
At 1 March 2023 285,136
Revaluation 228,716

At 29 February 2024 513,852