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REGISTERED NUMBER: 10687393 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

PROJECT DEVONSHIRE MANAGEMENT LIMITED

PROJECT DEVONSHIRE MANAGEMENT LIMITED (REGISTERED NUMBER: 10687393)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PROJECT DEVONSHIRE MANAGEMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: N Young





REGISTERED OFFICE: 35 Wilkinson Street
Sheffield
S10 2GB





REGISTERED NUMBER: 10687393 (England and Wales)





ACCOUNTANTS: Hollis and Co Limited
Chartered Accountants
35 Wilkinson Street
Sheffield
South Yorkshire
S10 2GB

PROJECT DEVONSHIRE MANAGEMENT LIMITED (REGISTERED NUMBER: 10687393)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 5 160,157 110,452
Cash at bank 2,289 90,559
162,446 201,011
CREDITORS
Amounts falling due within one year 6 251,325 346,354
NET CURRENT LIABILITIES (88,879 ) (145,343 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(88,879

)

(145,343

)

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings (88,979 ) (145,443 )
SHAREHOLDERS' FUNDS (88,879 ) (145,343 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 30 January 2025 and were signed by:





N Young - Director


PROJECT DEVONSHIRE MANAGEMENT LIMITED (REGISTERED NUMBER: 10687393)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Project Devonshire Management Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


These financial statements cover the entity as an individual company.

The figures in the financial statements are rounded to the nearest £.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The company is financed by a loan from its parent undertaking and they have indicated to the company that they will not request repayment of this loan, in part or in full, if this would impact on the working capital requirements of the company.

Having regard the above, despite the company showing a deficit on shareholders funds, the director considers it is appropriate to prepare the accounts on the basis that the company is a going concern.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Financial instruments
Financial Liabilities

The company's other loans payable meets the definition of a basic financial instrument, so they are originally recognised at the transaction price.

Debt instruments which are financing transactions at a rate of interest that is not a market rate.

Where debt instruments are classified as long term liabilities, then the company measures these at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Where debt instruments are classified as current liabilities, then there is no present value adjustment to the initial measurement based on amortised cost.


PROJECT DEVONSHIRE MANAGEMENT LIMITED (REGISTERED NUMBER: 10687393)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

3. ACCOUNTING POLICIES - continued
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.

4. EMPLOYEES AND DIRECTORS

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 157,500 108,500
Other debtors 2,657 1,952
160,157 110,452

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 90,772 112,001
Amounts owed to group undertakings 131,199 131,199
Other creditors 29,354 103,154
251,325 346,354

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100