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Registered Number: 10435802
England and Wales

 

 

 

PROJECT FOUR SAFETY SOLUTIONS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2023

End date: 31 May 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 14,628    8,640 
14,628    8,640 
Current assets      
Debtors 4 1,162,913    517,827 
Cash at bank and in hand 378,878    491,261 
1,541,791    1,009,088 
Creditors: amount falling due within one year 5 (627,225)   (356,252)
Net current assets 914,566    652,836 
 
Total assets less current liabilities 929,194    661,476 
Creditors: amount falling due after more than one year 6 (10,463)   (20,463)
Provisions for liabilities 7 (3,657)   (1,641)
Net assets 915,074    639,372 
 

Capital and reserves
     
Called up share capital 8 100    100 
Profit and loss account 914,974    639,272 
Shareholders' funds 915,074    639,372 
 


For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 17 February 2025 and were signed on its behalf by:


-------------------------------
Max Meadows
Director
1
General Information
Project Four Safety Solutions Limited is a private company, limited by shares, registered in England and Wales, registration number 10435802, registration address 17 Mann Island, Liverpool Waterfront, Liverpool, Merseyside, L3 1DG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.





Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Office Equipment 25% Reducing Balance
Computer Equipment 33.3% Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees


Average number of employees during the year was 18 (2023 : 13).
3.

Tangible fixed assets

Cost or valuation Office Equipment   Computer Equipment   Total
  £   £   £
At 01 June 2023 4,869    16,509    21,378 
Additions 1,387    10,155    11,542 
Disposals    
At 31 May 2024 6,256    26,664    32,920 
Depreciation
At 01 June 2023 3,264    9,474    12,738 
Charge for year 682    4,872    5,554 
On disposals    
At 31 May 2024 3,946    14,346    18,292 
Net book values
Closing balance as at 31 May 2024 2,310    12,318    14,628 
Opening balance as at 01 June 2023 1,605    7,035    8,640 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 1,129,507    482,177 
Provision for Doubtful Debts (36,559)  
Prepayments & Accrued Income 69,492    34,750 
Other Debtors 473    900 
1,162,913    517,827 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 164,379    37,666 
Bank Loans & Overdrafts 10,000    10,000 
Corporation Tax 206,026    121,080 
PAYE & Social Security 28,892    12,235 
Pension Payable 2,654    1,604 
Other Creditors 22,827    8,109 
Directors' Current Accounts 34,879    18,349 
VAT 157,568    147,209 
627,225    356,252 

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 10,463    20,463 
10,463    20,463 
Security
Bank loans include a Bounce Back loan.

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 3,657    1,641 
3,657    1,641 

8.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

2