2023-08-072024-08-312024-08-31false15052100PROJEX BROADWAY 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PROJEX BROADWAY LTD

Registered Number
15052100
(England and Wales)

Unaudited Financial Statements for the Period ended
31 August 2024

PROJEX BROADWAY LTD
Company Information
for the period from 7 August 2023 to 31 August 2024

Directors

KEARSEY, James Stuart
WARD, Bradley Mark

Registered Address

1 Gemini Court, 42a Throwley Way
Sutton
SM1 4AF

Registered Number

15052100 (England and Wales)
PROJEX BROADWAY LTD
Statement of Financial Position
31 August 2024

Notes

2024

£

£

Fixed assets
Intangible assets390,000
Investment property4918,686
1,008,686
Current assets
Debtors523,861
Cash at bank and on hand32,015
55,876
Creditors amounts falling due within one year6(569,402)
Net current assets (liabilities)(513,526)
Total assets less current liabilities495,160
Creditors amounts falling due after one year7(536,111)
Net assets(40,951)
Capital and reserves
Called up share capital100
Profit and loss account(41,051)
Shareholders' funds(40,951)
The financial statements were approved and authorised for issue by the Board of Directors on 1 May 2025, and are signed on its behalf by:
KEARSEY, James Stuart
Director
Registered Company No. 15052100
PROJEX BROADWAY LTD
Notes to the Financial Statements
for the period ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
The directors are aware of their responsibilities whilst trading insolvent.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Amortisation
Goodwill is amortised on a straight line over 10 years.
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
2.Average number of employees

2024
Average number of employees during the year2
3.Intangible assets

Goodwill

Total

££
Cost or valuation
Additions100,000100,000
At 31 August 24100,000100,000
Amortisation and impairment
Charge for year10,00010,000
At 31 August 2410,00010,000
Net book value
At 31 August 2490,00090,000
At 06 August 23--
4.Investment property

£
Additions918,686
At 31 August 24918,686
5.Debtors: amounts due within one year

2024

£
Other debtors20,991
Prepayments and accrued income2,870
Total23,861
6.Creditors: amounts due within one year

2024

£
Trade creditors / trade payables55,840
Other creditors510,060
Accrued liabilities and deferred income3,502
Total569,402
7.Creditors: amounts due after one year

2024

£
Bank borrowings and overdrafts396,127
Other creditors139,984
Total536,111
8.Further information regarding the company's financial position
The company has two charges from Ortus Secured Finance Ltd over their Properties.