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Company Registration No. 14104123 (England and Wales)
Based Projects Limited Unaudited accounts for the year ended 31 May 2024
Based Projects Limited Unaudited accounts Contents
Page
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Based Projects Limited Company Information for the year ended 31 May 2024
Directors
Jackie Booth Kirk Samuel Booth
Company Number
14104123 (England and Wales)
Registered Office
6 Falkland Avenue Littlehampton BN17 6AB United Kingdom
Accountants
Collective Concepts Accounting Ltd
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Based Projects Limited Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
278 
141,845 
Tangible assets
5,966 
10,431 
6,244 
152,276 
Current assets
Debtors
310,649 
300,240 
Cash at bank and in hand
104 
190,118 
310,753 
490,358 
Creditors: amounts falling due within one year
(2,370)
(245,890)
Net current assets
308,383 
244,468 
Net assets
314,627 
396,744 
Capital and reserves
Called up share capital
100 
100 
Revaluation reserve
2,553 
23,316 
Profit and loss account
311,974 
373,328 
Shareholders' funds
314,627 
396,744 
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 25 February 2025 and were signed on its behalf by
Kirk Samuel Booth Director Company Registration No. 14104123
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Based Projects Limited Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Based Projects Limited is a private company, limited by shares, registered in England and Wales, registration number 14104123. The registered office is 6 Falkland Avenue, Littlehampton, BN17 6AB, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
33% on Straight line method
Computer equipment
33% on Straight line method
Intangible fixed assets
The Company holds digital assets equal to the amount due to holders of digital securities solely for the purposes of meeting its obligations under the digital securities. Digital assets are priced on a daily basis based on the amount of the digital assets held using the relevant quoted price, and is considered to be the fair value of the digital assets. Digital assets are included at cost less accumulated amortisation. Subsequent measurement is carried out using the revaluation model.
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Based Projects Limited Notes to the Accounts for the year ended 31 May 2024
4
Intangible fixed assets
Other 
£ 
Cost
At 1 June 2023
155,015 
Additions
187,041 
Disposals
(321,015)
Revaluations
(20,763)
At 31 May 2024
278 
Amortisation
At 1 June 2023
13,170 
On disposals
(13,170)
At 31 May 2024
- 
Net book value
At 31 May 2024
278 
At 31 May 2023
141,845 
5
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 June 2023
1,726 
11,672 
13,398 
At 31 May 2024
1,726 
11,672 
13,398 
Depreciation
At 1 June 2023
336 
2,631 
2,967 
Charge for the year
575 
3,890 
4,465 
At 31 May 2024
911 
6,521 
7,432 
Net book value
At 31 May 2024
815 
5,151 
5,966 
At 31 May 2023
1,390 
9,041 
10,431 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
559 
- 
Amounts falling due after more than one year
Amounts due from group undertakings etc.
310,090 
300,240 
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Based Projects Limited Notes to the Accounts for the year ended 31 May 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
43 
- 
Taxes and social security
- 
242,146 
Loans from directors
347 
264 
Accruals
1,980 
3,480 
2,370 
245,890 
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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