1 April 2023 false Taxfiler 2024.6 9050055business:PrivateLimitedCompanyLtd2023-04-012024-03-31 90500552023-03-31 90500552023-04-012024-03-31 9050055business:AuditExempt-NoAccountantsReport2023-04-012024-03-31 9050055business:FilletedAccounts2023-04-012024-03-31 90500552024-03-31 9050055business:Director12023-04-012024-03-31 9050055business:RegisteredOffice2023-04-012024-03-31 90500552023-03-31 9050055core:WithinOneYear2024-03-31 9050055core:WithinOneYear2023-03-31 9050055core:ShareCapitalcore:PreviouslyStatedAmount2024-03-31 9050055core:ShareCapitalcore:PreviouslyStatedAmount2023-03-31 9050055core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-03-31 9050055core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-31 9050055core:PreviouslyStatedAmount2024-03-31 9050055core:PreviouslyStatedAmount2023-03-31 9050055business:SmallEntities2023-04-012024-03-31 9050055countries:EnglandWales2023-04-012024-03-31 9050055core:MotorVehicles2023-04-012024-03-31 9050055core:ComputerEquipment2023-04-012024-03-31 9050055core:MotorVehicles2023-03-31 9050055core:ComputerEquipment2023-03-31 9050055core:MotorVehicles2024-03-31 9050055core:ComputerEquipment2024-03-31 9050055business:OrdinaryShareClass12023-04-012024-03-31 9050055business:OrdinaryShareClass12022-04-012023-03-31 90500552022-04-012023-03-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 9050055 (England and Wales)
Project Nirvana Limited Unaudited accounts for the year ended 31 March 2024
Project Nirvana Limited Unaudited accounts Contents
Page
- 2 -
Project Nirvana Limited Company Information for the year ended 31 March 2024
Director
Ronan J O' Sullivan
Company Number
9050055 (England and Wales)
Registered Office
10 Havering Street London E1 0LP United Kingdom
- 3 -
Project Nirvana Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
8,452 
10,565 
Current assets
Debtors
584 
13,779 
Cash at bank and in hand
267,828 
313,367 
268,412 
327,146 
Creditors: amounts falling due within one year
(2,751)
(27,528)
Net current assets
265,661 
299,618 
Net assets
274,113 
310,183 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
274,103 
310,173 
Shareholders' funds
274,113 
310,183 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 2 December 2024 and were signed on its behalf by
Ronan J O' Sullivan Director Company Registration No. 9050055
- 4 -
Project Nirvana Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Project Nirvana Limited is a private company, limited by shares, registered in England and Wales, registration number 9050055. The registered office is 10 Havering Street, London, E1 0LP, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% on balance
Computer equipment
20% on balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
- 5 -
Project Nirvana Limited Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2023
34,830 
8,999 
43,829 
At 31 March 2024
34,830 
8,999 
43,829 
Depreciation
At 1 April 2023
27,649 
5,615 
33,264 
Charge for the year
1,436 
677 
2,113 
At 31 March 2024
29,085 
6,292 
35,377 
Net book value
At 31 March 2024
5,745 
2,707 
8,452 
At 31 March 2023
7,181 
3,384 
10,565 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
92 
- 
Trade debtors
- 
13,260 
Accrued income and prepayments
492 
519 
584 
13,779 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
- 
12,750 
Trade creditors
350 
174 
Taxes and social security
1,250 
12,421 
Other creditors
876 
2,183 
Loans from directors
275 
- 
2,751 
27,528 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10 
10 
8
Transactions with related parties
Mr Ronan J O'Sullivan: Included in other creditors is the amount of £275 (2023: £nil) owed by the company to Mr Ronan J O'Sullivan, a sole director and 100% shareholder of the company. During the period interim dividends of £17,000 (2023: £36,500) were distributed to the director.
- 6 -
Project Nirvana Limited Notes to the Accounts for the year ended 31 March 2024
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).
- 7 -