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INERTIA PROJECTS LIMITED

Registered Number
08253990
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

INERTIA PROJECTS LIMITED
Company Information
for the year from 1 November 2023 to 31 October 2024

Directors

ABI GHANEM, Dana, Dr.
OXLEY, David

Registered Address

25 Bridge Park
Gosforth
Newcastle Upon Tyne
NE3 2DX

Registered Number

08253990 (England and Wales)
INERTIA PROJECTS LIMITED
Balance Sheet as at
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3-71
Investment property4113,794113,794
113,794113,865
Current assets
Cash at bank and on hand5,3513,943
5,3513,943
Creditors amounts falling due within one year6(107,402)(105,731)
Net current assets (liabilities)(102,051)(101,788)
Total assets less current liabilities11,74312,077
Net assets11,74312,077
Capital and reserves
Called up share capital100100
Profit and loss account11,64311,977
Shareholders' funds11,74312,077
The financial statements were approved and authorised for issue by the Board of Directors on 17 February 2025, and are signed on its behalf by:
OXLEY, David
Director
Registered Company No. 08253990
INERTIA PROJECTS LIMITED
Notes to the Financial Statements
for the year ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from rendering of services
Revenue 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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery5
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 November 2321,15921,159
At 31 October 2421,15921,159
Depreciation and impairment
At 01 November 2321,08821,088
Charge for year7171
At 31 October 2421,15921,159
Net book value
At 31 October 24--
At 31 October 237171
4.Investment property

£
Fair value at 01 November 23113,794
At 31 October 24113,794
5.Debtors: amounts due within one year
6.Creditors: amounts due within one year

2024

2023

££
Amounts owed to related parties106,862105,191
Accrued liabilities and deferred income540540
Total107,402105,731