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REGISTERED NUMBER: 02730976 (England and Wales)















Financial Statements

for the Year Ended 30 June 2024

for

PROJECT FRAMING LTD.

PROJECT FRAMING LTD. (REGISTERED NUMBER: 02730976)

Contents of the Financial Statements
for the Year Ended 30 June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROJECT FRAMING LTD.

Company Information
for the Year Ended 30 June 2024







DIRECTOR: R Bremner





REGISTERED OFFICE: 112 Power Road
Chiswick
London
W4 5PN





REGISTERED NUMBER: 02730976 (England and Wales)





ACCOUNTANTS: Rawse, Varley & Co
Chartered Accountants
Lloyds Bank Chambers
Hustlergate
Bradford
BD1 1UQ

PROJECT FRAMING LTD. (REGISTERED NUMBER: 02730976)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 116,527 87,125

CURRENT ASSETS
Stock 110,460 142,327
Debtors 5 477,562 1,055,275
Cash at bank 1,110,700 698,250
1,698,722 1,895,852
CREDITORS
Amounts falling due within one year 6 882,569 1,238,274
NET CURRENT ASSETS 816,153 657,578
TOTAL ASSETS LESS CURRENT
LIABILITIES

932,680

744,703

CREDITORS
Amounts falling due after more than one
year

7

(46,181

)

(44,470

)

PROVISIONS FOR LIABILITIES (7,181 ) (4,981 )
NET ASSETS 879,318 695,252

CAPITAL AND RESERVES
Called up share capital 9 20,000 20,000
Retained earnings 859,318 675,252
SHAREHOLDERS' FUNDS 879,318 695,252

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PROJECT FRAMING LTD. (REGISTERED NUMBER: 02730976)

Balance Sheet - continued
30 June 2024


The 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.

The financial statements were approved by the director and authorised for issue on 25 March 2025 and were signed by:





R Bremner - Director


PROJECT FRAMING LTD. (REGISTERED NUMBER: 02730976)

Notes to the Financial Statements
for the Year Ended 30 June 2024


1. STATUTORY INFORMATION

Project Framing Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the invoice value of goods and services supplied, less returns, excluding value added tax.

Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation.

Depreciation is calculated to write off the assets to their estimated residual values by the end of their useful lives at the following annual rates:

Plant and machinery - 25% of book value
Furniture, fittings and equipment - 20% and 25% of book value
Motor vehicles - 25% of book value

Stock and work in progress
Stock and work in progress are stated at the lower of cost and estimated net realisable value. In the case of work in progress cost includes an appropriate proportion of manufacturing overheads.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 12 ) .

PROJECT FRAMING LTD. (REGISTERED NUMBER: 02730976)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


4. TANGIBLE FIXED ASSETS
Equipment,
fixtures
and
fittings
£   
COST
At 1 July 2023 452,525
Additions 69,710
Disposals (15,500 )
At 30 June 2024 506,735
DEPRECIATION
At 1 July 2023 365,400
Charge for year 27,068
Eliminated on disposal (2,260 )
At 30 June 2024 390,208
NET BOOK VALUE
At 30 June 2024 116,527
At 30 June 2023 87,125

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 292,375 670,195
Other debtors 185,187 385,080
477,562 1,055,275

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,268 10,015
Hire purchase contracts (see note 8) 7,477 4,423
Trade creditors 136,997 345,648
Taxation and social security 198,149 55,151
Other creditors 529,678 823,037
882,569 1,238,274

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 9,642 19,908
Hire purchase contracts (see note 8) 36,539 24,562
46,181 44,470

PROJECT FRAMING LTD. (REGISTERED NUMBER: 02730976)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024


8. LEASING AGREEMENTS

Non-cancellable operating leases
2024 2023
£    £   
Within one year 77,766 71,252
Between one and five years 130,850 208,616
208,616 279,868

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
20,000 Ordinary 1 20,000 20,000

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
R Bremner
Balance outstanding at start of year (49,791 ) (3,479 )
Amounts advanced 90,067 11,309
Amounts repaid (15,962 ) (57,621 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 24,314 (49,791 )

The director's loan account is interest free and has been repaid since the year end.