Registered number
10884060
PROJECT SIX PILLARS LTD
Filleted Accounts
31 July 2024
PROJECT SIX PILLARS LTD
Registered number: 10884060
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 530,119 532,719
Current assets
Debtors 4 522,000 522,000
Cash at bank and in hand 36,630 17,212
558,630 539,212
Creditors: amounts falling due within one year 5 (309,245) (289,783)
Net current assets 249,385 249,429
Total assets less current liabilities 779,504 782,148
Creditors: amounts falling due after more than one year 6 (403,474) (488,306)
Net assets 376,030 293,842
Capital and reserves
Called up share capital 100 100
Profit and loss account 375,930 293,742
Shareholders' funds 376,030 293,842
The directors are 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 directors acknowledge their 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.
J A Pope
Director
Approved by the board on 20 February 2025
PROJECT SIX PILLARS LTD
Notes to the Accounts
for the year ended 31 July 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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
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 5 5
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 August 2023 524,919 13,000 537,919
At 31 July 2024 524,919 13,000 537,919
Depreciation
At 1 August 2023 - 5,200 5,200
Charge for the year - 2,600 2,600
At 31 July 2024 - 7,800 7,800
Net book value
At 31 July 2024 524,919 5,200 530,119
At 31 July 2023 524,919 7,800 532,719
4 Debtors 2024 2023
£ £
Other debtors 522,000 522,000
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 56,580 56,580
Trade creditors 61,674 60,552
Taxation and social security costs 41,056 23,716
Other creditors 149,935 148,935
309,245 289,783
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 403,474 488,306
7 Other information
PROJECT SIX PILLARS LTD is a private company limited by shares and incorporated in England. Its registered office is:
44-46 Lower Bridgeman Street
Bolton
BL2 1DG
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