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Registered number: 12323629
Projet Ltd
Financial Statements
For The Year Ended 30 November 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12323629
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 79,647 36,921
79,647 36,921
CURRENT ASSETS
Debtors 5 12,409 13,539
Cash at bank and in hand 13,218 7,785
25,627 21,324
Creditors: Amounts Falling Due Within One Year 6 (106,427 ) (78,003 )
NET CURRENT ASSETS (LIABILITIES) (80,800 ) (56,679 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,153 ) (19,758 )
Creditors: Amounts Falling Due After More Than One Year 7 (13,543 ) (18,714 )
NET LIABILITIES (14,696 ) (38,472 )
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account (14,698 ) (38,474 )
SHAREHOLDERS' FUNDS (14,696) (38,472)
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For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr J Hegarty
Director
26 February 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Projet Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12323629 . The registered office is 550 Valley Road, Nottingham, NG5 1JJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.
At 30th November 2023 the company had net liabilities of £38,472. The company is reliant on the continued support of the director. The director has confirmed his intention to support the company for at least 12 months from the date of signing the accounts. 
On the above basis, the director considers that the accounts should be prepared on a going concern basis. 
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Computer Equipment 33% reducing balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2023 12,762 66,140 5,446 84,348
Additions 34,484 30,227 - 64,711
As at 30 November 2024 47,246 96,367 5,446 149,059
Depreciation
As at 1 December 2023 7,958 36,930 2,539 47,427
Provided during the period 9,317 11,711 957 21,985
As at 30 November 2024 17,275 48,641 3,496 69,412
Net Book Value
As at 30 November 2024 29,971 47,726 1,950 79,647
As at 1 December 2023 4,804 29,210 2,907 36,921
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 12,409 13,539
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 4,039 4,039
Bank loans and overdrafts 4,483 4,483
Other taxes and social security - 198
VAT 2,490 1,319
Accruals and deferred income 720 720
Director's loan account 94,695 67,244
106,427 78,003
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7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 7,391 10,600
Bank loans 6,152 8,114
13,543 18,714
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 4,039 4,039
Later than one year and not later than five years 7,391 10,600
11,430 14,639
11,430 14,639
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
10. Related Party Transactions
At the balance sheet date, the amount owed to the directors' through the directors loan accounts was £94,695 (2023: £67,244). 
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