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REGISTERED NUMBER: 15198997 (England and Wales)


















Project Furnishings Limited

Financial Statements for the Period 9th October 2023 to 30th June 2024






Project Furnishings Limited (Registered number: 15198997)






Contents of the Financial Statements
for the period 9th October 2023 to 30th June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Project Furnishings Limited

Company Information
for the period 9th October 2023 to 30th June 2024







DIRECTORS: J Mounks
S Newlove
S T E Boanas





REGISTERED OFFICE: Unit 1 Kingswood Business Park
Connaught Road
Hull
HU7 3AP





REGISTERED NUMBER: 15198997 (England and Wales)





AUDITORS: Smailes Goldie
Chartered Accountants
Statutory Auditor
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

Project Furnishings Limited (Registered number: 15198997)

Balance Sheet
30th June 2024

Notes £   
CURRENT ASSETS
Debtors 4 128,687
Cash at bank 28,976
157,663
CREDITORS
Amounts falling due within one year 5 150,477
NET CURRENT ASSETS 7,186
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,186

CAPITAL AND RESERVES
Called up share capital 6 100
Retained earnings 7,086
SHAREHOLDERS' FUNDS 7,186

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 Board of Directors and authorised for issue on 27th March 2025 and were signed on its behalf by:





S T E Boanas - Director


Project Furnishings Limited (Registered number: 15198997)

Notes to the Financial Statements
for the period 9th October 2023 to 30th June 2024

1. STATUTORY INFORMATION

Project Furnishings Limited 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.

The financial statements are prepared in starling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Taxation
Taxation for the period 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 period 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Project Furnishings Limited (Registered number: 15198997)

Notes to the Financial Statements - continued
for the period 9th October 2023 to 30th June 2024

2. ACCOUNTING POLICIES - continued

Debtors and creditors receivable/ payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 128,687

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 86
Amounts owed to group undertakings 107,353
Taxation and social security 37,177
Other creditors 5,861
150,477

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
100 Ordinary 1 100

100 Ordinary shares of 1 each were allotted and fully paid for cash at par during the period.

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen Bramall BSc FCA (Senior Statutory Auditor)
for and on behalf of Smailes Goldie

8. CONTINGENT LIABILITIES

The company has given unlimited guarantees in respect of the bank borrowings of fellow group companies. The amount outstanding under this guarantee at 30 June 2024 was £817,729.

National Westminster Bank plc hold a charge created on 10th January 2024. The charge consists of a fixed and floating charge over all assets. The floating charge covers all of the property or undertaking of the company. The charge contains a negative pledge.

Project Furnishings Limited (Registered number: 15198997)

Notes to the Financial Statements - continued
for the period 9th October 2023 to 30th June 2024

9. ULTIMATE CONTROLLING PARTY

The company's immediate parent company is Bonus Accessories Limited, a company registered in England. Copies of the parent financial statements can be obtained from Unit 1 Kingswood Business Park, Connaught Road, Hull, England, HU7 3AP.

In the opinion of the directors, the company's ultimate parent company is Bonus Electrical Group Limited, a company registered in England. Copies of the group consolidated financial statements of Bonus Electrical Group Limited can be obtained from The Registrar of Companies, Companies House, Crown Way, Cardiff CF14 3UZ.

The directors consider the controlling party to be Mr T S E Boanas, a director of Bonus Electrical Group Limited.