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REGISTERED NUMBER: SC366858 (Scotland)















Financial Statements for the Year Ended 31 December 2024

for

Projecting Ltd

Projecting Ltd (Registered number: SC366858)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Projecting Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Mr D Ferrin
Dr D W A Hamilton





REGISTERED OFFICE: 8 Albany Street
Edinburgh
EH1 3QB





REGISTERED NUMBER: SC366858 (Scotland)





AUDITORS: Duncan & Toplis Audit Limited
14 London Road
Newark
Nottinghamshire
NG24 1TW

Projecting Ltd (Registered number: SC366858)

Statement of Financial Position
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 2,232 2,367
Investments 5 132,615 132,615
134,847 134,982

CURRENT ASSETS
Debtors 6 1,129,465 706,379
Cash at bank 557,226 430,064
1,686,691 1,136,443
CREDITORS
Amounts falling due within one year 7 1,175,683 805,520
NET CURRENT ASSETS 511,008 330,923
TOTAL ASSETS LESS CURRENT
LIABILITIES

645,855

465,905

PROVISIONS FOR LIABILITIES 558 592
NET ASSETS 645,297 465,313

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 644,297 464,313
SHAREHOLDERS' FUNDS 645,297 465,313

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 14 April 2025 and were signed on its behalf by:





Dr D W A Hamilton - Director


Projecting Ltd (Registered number: SC366858)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Projecting Ltd is a private company, limited by shares , registered in Scotland. 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 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.

Preparation of consolidated financial statements
The financial statements contain information about Projecting Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office & Equipment - 25% on cost

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties. Debt instruments, including loans and other accounts receivable and payable are initially measured at transaction price adjusted for transaction costs. They are subsequently recognised at amortised costs using the effective interest method.

Creditors payable within one year, typically trade payables, are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid. Debtors receivable within one year, typically trade receivables, are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be received.

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.

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

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

Projecting Ltd (Registered number: SC366858)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Investments in subsidiaries
Investments in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Office &
Equipment
£   
COST
At 1 January 2024 3,664
Additions 846
At 31 December 2024 4,510
DEPRECIATION
At 1 January 2024 1,297
Charge for year 981
At 31 December 2024 2,278
NET BOOK VALUE
At 31 December 2024 2,232
At 31 December 2023 2,367

5. FIXED ASSET INVESTMENTS
Investment
in
subsidiary
£   
COST
At 1 January 2024
and 31 December 2024 132,615
NET BOOK VALUE
At 31 December 2024 132,615
At 31 December 2023 132,615

Projecting Ltd (Registered number: SC366858)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. FIXED ASSET INVESTMENTS - continued

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Earlswood SL
Registered office: Calle Basauri,6,Madrid,28023,Spain
Nature of business: Business management consultancy
%
Class of shares: holding
Ordinary 100.00
31.12.24 31.12.23
£    £   
Aggregate capital and reserves 170,424 210,656
Profit for the year 22,459 55,623

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 865,893 438,367
Other debtors - 645
VAT 47,308 93,416
Prepayments and accrued income 216,264 173,951
1,129,465 706,379

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 63,893 31,668
Amounts owed to group undertakings 118,114 52,537
Tax 85,444 82,567
Social security and other taxes 25,652 13,155
Other creditors 5,873 3,087
Directors' current accounts - 66,338
Accruals and deferred income 876,707 556,168
1,175,683 805,520

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
998 Ordinary - A £1 998 998
1 Ordinary - B £1 1 1
1 Ordinary - C £1 1 1
1,000 1,000

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

The Report of the Auditors was unqualified.

Rachel Rudkin FCCA (Senior Statutory Auditor) (Senior Statutory Auditor)
for and on behalf of Duncan & Toplis Audit Limited

Projecting Ltd (Registered number: SC366858)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

10. RELATED PARTY DISCLOSURES

During the year, dividends of nil ( 2023 - £66,338) were paid to a director.

11. ULTIMATE CONTROLLING PARTY

The controlling party is Izertis S.A..

The registered office of Izertis S.A. is Avenida del Jardín Botánico, 1345, 33203, Gijón, Asturias. Spain.