REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 July 2024 |
for |
PROJECT AS1 LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 July 2024 |
for |
PROJECT AS1 LIMITED |
PROJECT AS1 LIMITED (REGISTERED NUMBER: 08614778) |
Contents of the Financial Statements |
for the year ended 31 July 2024 |
Page |
Company Information | 1 |
Accountants' Report | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 4 |
PROJECT AS1 LIMITED |
Company Information |
for the year ended 31 July 2024 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
Northside House |
69 Tweedy Road |
Bromley |
Kent |
BR1 3WA |
Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Project AS1 Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Project AS1 Limited for the year ended 31 July 2024 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Project AS1 Limited, as a body, in accordance with the terms of our engagement letter dated 19 July 2013. Our work has been undertaken solely to prepare for your approval the financial statements of Project AS1 Limited and state those matters that we have agreed to state to the Board of Directors of Project AS1 Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Project AS1 Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Project AS1 Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Project AS1 Limited. You consider that Project AS1 Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Project AS1 Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Northside House |
69 Tweedy Road |
Bromley |
Kent |
BR1 3WA |
PROJECT AS1 LIMITED (REGISTERED NUMBER: 08614778) |
Balance Sheet |
31 July 2024 |
2024 | 2023 |
Notes | £ | £ |
Current assets |
Debtors | 5 |
Creditors |
Amounts falling due within one year | 6 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities | ( |
) | ( |
) |
Capital and reserves |
Called up share capital | 7 |
Retained earnings | ( |
) | ( |
) |
Shareholders' funds | ( |
) | ( |
) |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
PROJECT AS1 LIMITED (REGISTERED NUMBER: 08614778) |
Notes to the Financial Statements |
for the year ended 31 July 2024 |
1. | Statutory information |
Project AS1 Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company for the foreseeable future. |
Key source of estimation, uncertainty and judgement |
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. |
There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets. |
Tangible fixed assets |
Plant and machinery | - |
Computer equipment | - |
Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts. |
Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
PROJECT AS1 LIMITED (REGISTERED NUMBER: 08614778) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2024 |
3. | Employees and directors |
The average number of employees during the year was NIL (2023 - NIL). |
4. | Tangible fixed assets |
Plant and | Computer |
machinery | equipment | Totals |
£ | £ | £ |
Cost |
At 1 August 2023 |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 July 2024 |
Depreciation |
At 1 August 2023 |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31 July 2024 |
Net book value |
At 31 July 2024 |
At 31 July 2023 |
5. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
VAT |
6. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade creditors |
Other creditors |
7. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 2 | 2 |
8. | Related party disclosures |
At 31 July 2024 the Company owed the directors £17,642 (2023 £16,967). there is no set repayment date and no interest is charged on the loan. |
PROJECT AS1 LIMITED (REGISTERED NUMBER: 08614778) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2024 |
9. | Ultimate controlling party |
There is no ultimate controlling party. |