Registered number
06789399
WINDMILL PROJECTS LTD
Unaudited Filleted Accounts
31 March 2024
WINDMILL PROJECTS LTD
Registered number: 06789399
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 13,658 16,287
Current assets
Debtors 4 86,770 219,108
Cash at bank and in hand 139,447 94,774
226,217 313,882
Creditors: amounts falling due within one year 5 (71,740) (158,211)
Net current assets 154,477 155,671
Total assets less current liabilities 168,135 171,958
Creditors: amounts falling due after more than one year 6 (8,237) (11,767)
Provisions for liabilities (1,900) (2,400)
Net assets 157,998 157,791
Capital and reserves
Called up share capital 100 1
Share premium 11,238 10,439
Capital redemption reserve 8 4 4
Profit and loss account 146,656 147,347
Shareholders' funds 157,998 157,791
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A D Sharp
Director
Approved by the board on 26 November 2024
WINDMILL PROJECTS LTD
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2023 9,510 19,495 29,005
Additions 1,923 - 1,923
At 31 March 2024 11,433 19,495 30,928
Depreciation
At 1 April 2023 7,845 4,873 12,718
Charge for the year 897 3,655 4,552
At 31 March 2024 8,742 8,528 17,270
Net book value
At 31 March 2024 2,691 10,967 13,658
At 31 March 2023 1,665 14,622 16,287
4 Debtors 2024 2023
£ £
Trade debtors 74,507 198,924
Other debtors 12,263 20,184
86,770 219,108
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 3,530 3,530
Trade creditors 49,768 68,445
Taxation and social security costs 10,521 37,117
Other creditors 7,921 49,119
71,740 158,211
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 8,237 11,767
7 Loans 2024 2023
£ £
Creditors include:
Secured loans 11,767 15,297
The hire purchase creditor is secured over the assets to which they relate.
8 Capital redemption reserve 2024 2023
£ £
At 1 April 2023 4 -
Transfer in the year - 4
At 31 March 2024 4 4
9 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 20,542 -
10 Controlling party
The company is controlled by A D Sharp who owns 99% of the issued share capital.
11 Other information
WINDMILL PROJECTS LTD is a private company limited by shares and incorporated in England. Its registered office is:
Unit 4 Sovereign Business Park
Albert Drive
Burgess Hill
RH15 9TY
WINDMILL PROJECTS LTD 06789399 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts July 2024 A D Sharp No description of principal activity 06789399 2022-04-01 2023-03-31 06789399 core:RevaluationReserve core:LandBuildings 2022-04-01 2023-03-31 06789399 core:WithinOneYear 2023-03-31 06789399 core:AfterOneYear 2023-03-31 06789399 core:ShareCapital 2023-03-31 06789399 core:SharePremium 2023-03-31 06789399 core:OtherReservesSubtotal 2023-03-31 06789399 core:RetainedEarningsAccumulatedLosses 2023-03-31 06789399 core:AllPeriods 2023-03-31 06789399 core:RevaluationReserve 2022-03-31 06789399 2023-04-01 2024-03-31 06789399 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06789399 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06789399 bus:Director40 2023-04-01 2024-03-31 06789399 1 2023-04-01 2024-03-31 06789399 2 2023-04-01 2024-03-31 06789399 core:PlantMachinery 2023-04-01 2024-03-31 06789399 core:Vehicles 2023-04-01 2024-03-31 06789399 core:RevaluationReserve core:LandBuildings 2023-04-01 2024-03-31 06789399 countries:England 2023-04-01 2024-03-31 06789399 bus:FRS102 2023-04-01 2024-03-31 06789399 bus:FilletedAccounts 2023-04-01 2024-03-31 06789399 2024-03-31 06789399 core:WithinOneYear 2024-03-31 06789399 core:AfterOneYear 2024-03-31 06789399 core:ShareCapital 2024-03-31 06789399 core:SharePremium 2024-03-31 06789399 core:OtherReservesSubtotal 2024-03-31 06789399 core:RetainedEarningsAccumulatedLosses 2024-03-31 06789399 core:PlantMachinery 2024-03-31 06789399 core:Vehicles 2024-03-31 06789399 core:RevaluationReserve 2024-03-31 06789399 core:AllPeriods 2024-03-31 06789399 2023-03-31 06789399 core:PlantMachinery 2023-03-31 06789399 core:Vehicles 2023-03-31 06789399 core:RevaluationReserve 2023-03-31 iso4217:GBP xbrli:pure