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REGISTERED NUMBER: 11405883 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PROJECT FOUR DESIGN LTD

PROJECT FOUR DESIGN LTD (REGISTERED NUMBER: 11405883)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROJECT FOUR DESIGN LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: A P M Donfrancesco
D J Fairbairn
I S Callum





REGISTERED OFFICE: Unit 5 Budbrooke Point
Budbrooke Road
Bugbrooke Industrial Estate
Warwick
Warwickshire
CV34 5XH





REGISTERED NUMBER: 11405883 (England and Wales)





ACCOUNTANTS: Ad Valorem Accountancy Services Limited
Chartered Certified Accountants
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Buckinghamshire
MK12 5NN

PROJECT FOUR DESIGN LTD (REGISTERED NUMBER: 11405883)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £ £ £
FIXED ASSETS
Tangible assets 4 652,173 237,762
Investments 5 10 -
652,183 237,762

CURRENT ASSETS
Stocks 175,434 317,512
Debtors 6 594,531 763,220
Cash at bank 700,351 1,638,463
1,470,316 2,719,195
CREDITORS
Amounts falling due within one year 7 771,370 2,181,238
NET CURRENT ASSETS 698,946 537,957
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,351,129

775,719

CREDITORS
Amounts falling due after more than one
year

8

(491,007

)

(59,276

)

PROVISIONS FOR LIABILITIES (65,621 ) (57,391 )
NET ASSETS 794,501 659,052

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 794,401 658,952
SHAREHOLDERS' FUNDS 794,501 659,052

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 FOUR DESIGN LTD (REGISTERED NUMBER: 11405883)

BALANCE SHEET - continued
31 DECEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 April 2025 and were signed on its behalf by:





A P M Donfrancesco - Director


PROJECT FOUR DESIGN LTD (REGISTERED NUMBER: 11405883)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Project Four Design 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 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - 20% on cost
Long leasehold - in accordance with the property
Plant and machinery - 33% on cost
Fixtures and fittings - 33% on cost
Motor vehicles - 33% on cost and 25% on cost
Computer equipment - 33% on cost

GOVERNMENT GRANTS
Government grants are recognised at the fair value of the asset received or receivable when there is
reasonable assurance that the grant conditions will be met and the grants will be received.

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at cost.

STOCKS
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


PROJECT FOUR DESIGN LTD (REGISTERED NUMBER: 11405883)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. ACCOUNTING POLICIES - continued
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.

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.

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2023 - 21 ) .

PROJECT FOUR DESIGN LTD (REGISTERED NUMBER: 11405883)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


4. TANGIBLE FIXED ASSETS
Short Long Plant and
leasehold leasehold machinery
£ £ £
COST
At 1 January 2024 11,477 - 82,048
Additions 4,250 328,040 13,447
Disposals - - -
At 31 December 2024 15,727 328,040 95,495
DEPRECIATION
At 1 January 2024 3,651 - 33,965
Charge for year 2,780 54,673 28,751
Eliminated on disposal - - -
At 31 December 2024 6,431 54,673 62,716
NET BOOK VALUE
At 31 December 2024 9,296 273,367 32,779
At 31 December 2023 7,826 - 48,083

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£ £ £ £
COST
At 1 January 2024 5,671 218,201 59,355 376,752
Additions - 325,689 2,971 674,397
Disposals - (178,081 ) - (178,081 )
At 31 December 2024 5,671 365,809 62,326 873,068
DEPRECIATION
At 1 January 2024 2,100 71,238 28,036 138,990
Charge for year 1,872 40,741 14,310 143,127
Eliminated on disposal - (61,222 ) - (61,222 )
At 31 December 2024 3,972 50,757 42,346 220,895
NET BOOK VALUE
At 31 December 2024 1,699 315,052 19,980 652,173
At 31 December 2023 3,571 146,963 31,319 237,762

PROJECT FOUR DESIGN LTD (REGISTERED NUMBER: 11405883)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:
Long Motor
leasehold vehicles Totals
£ £ £
COST
At 1 January 2024 - 212,201 212,201
Additions 328,040 322,389 650,429
Disposals - (178,081 ) (178,081 )
Transfer to ownership - (34,120 ) (34,120 )
At 31 December 2024 328,040 322,389 650,429
DEPRECIATION
At 1 January 2024 - 69,093 69,093
Charge for year 54,673 37,694 92,367
Eliminated on disposal - (61,222 ) (61,222 )
Transfer to ownership - (18,119 ) (18,119 )
At 31 December 2024 54,673 27,446 82,119
NET BOOK VALUE
At 31 December 2024 273,367 294,943 568,310
At 31 December 2023 - 143,108 143,108

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
Additions 10
At 31 December 2024 10
NET BOOK VALUE
At 31 December 2024 10

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 25,086 261,340
Amounts owed by associates 2,600 1,679
Other debtors 160 73
Tax - 222,740
VAT 21,140 -
Prepayments and accrued income 545,545 277,388
594,531 763,220

PROJECT FOUR DESIGN LTD (REGISTERED NUMBER: 11405883)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts and finance leases (see note 9)
85,407

102,804
Trade creditors 140,722 272,668
Taxation and social security 223,764 97,670
Other creditors 311,477 1,698,096
771,370 2,181,238

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 16,667 26,667
Hire purchase contracts and finance leases (see note 9)
474,340

32,609
491,007 59,276

Amounts falling due in more than five years:

Repayable by instalments
Finance leases 105,368 -

9. LEASING AGREEMENTS

Operating lease commitments previously detailed within the Notes to the financial statements (2023: £486,184) are now included within the balance sheet as a Right of Use asset and creditor.

PROJECT FOUR DESIGN LTD (REGISTERED NUMBER: 11405883)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


10. FINANCIAL INSTRUMENTS

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
10,000 Ordinary 0.01 100 100

12. RELATED PARTY DISCLOSURES

At the year end the company was owed £2,560 (2023: £1,679) by Callum Creative Ltd, a company over which the directors hold significant influence.