Company Registration No. 13198291 (England and Wales)
ARES PROJECTS LTD
Unaudited accounts
for the period from 1 March 2023 to 31 July 2024
ARES PROJECTS LTD
Unaudited accounts
Contents
ARES PROJECTS LTD
Company Information
for the period from 1 March 2023 to 31 July 2024
Directors
Lukasz Chmielnicki
Charles Vicente
Company Number
13198291 (England and Wales)
Registered Office
71-75 SHELTON STREET
COVENT GARDEN
LONDON
WC2H 9JQ
ENGLAND
Accountants
ACCOUNTANCY SPECIALIST LIMITED
Flat 9, Hollybush Gardens
London
E2 9QT
ARES PROJECTS LTD
Statement of financial position
as at 31 July 2024
Tangible assets
3,855
1,932
Cash at bank and in hand
2,098
49,997
Creditors: amounts falling due within one year
(111,528)
(49,765)
Net current (liabilities)/assets
(17,856)
232
Net (liabilities)/assets
(14,001)
2,164
Called up share capital
200
200
Profit and loss account
(14,201)
1,964
Shareholders' funds
(14,001)
2,164
For the period ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the period in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 25 April 2025 and were signed on its behalf by
Charles Vicente
Director
Company Registration No. 13198291
ARES PROJECTS LTD
Notes to the Accounts
for the period from 1 March 2023 to 31 July 2024
ARES PROJECTS LTD is a private company, limited by shares, registered in England and Wales, registration number 13198291. The registered office is 71-75 SHELTON STREET, COVENT GARDEN, LONDON, WC2H 9JQ, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the period from 1 March 2023 to 31 July 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 March 2022.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33% straight line basis
The company experienced exponential growth, and following a comprehensive review of the business structure, the Directors have eliminated loss-making activities and clearly defined the company's market niche. The Directors have implemented strategic operational changes and cost-control measures to address the deficit. The Directors have agreed to cover the loss on the balance sheet and continue to do so. Given these improvements and the anticipated return to profitability in the upcoming financial reporting period, the Directors consider the going concern basis of accounting to remain appropriate.
ARES PROJECTS LTD
Notes to the Accounts
for the period from 1 March 2023 to 31 July 2024
4
Tangible fixed assets
Total
Charge for the period
2,410
5
Average number of employees
During the period the average number of employees was 7 (2023: 2).