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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
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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
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ARES PROJECTS LTD Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
3,855 
1,932 
Current assets
Debtors
91,574 
- 
Cash at bank and in hand
2,098 
49,997 
93,672 
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 
Capital and reserves
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
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ARES PROJECTS LTD Notes to the Accounts for the period from 1 March 2023 to 31 July 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
Going concern
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.
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ARES PROJECTS LTD Notes to the Accounts for the period from 1 March 2023 to 31 July 2024
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 March 2023
2,898 
Additions
4,333 
At 31 July 2024
7,231 
Depreciation
At 1 March 2023
966 
Charge for the period
2,410 
At 31 July 2024
3,376 
Net book value
At 31 July 2024
3,855 
At 28 February 2023
1,932 
5
Average number of employees
During the period the average number of employees was 7 (2023: 2).
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