Registered number
03474020
Project Technologies (UK) Limited
Filleted Accounts
31 December 2024
Project Technologies (UK) Limited
Registered number: 03474020
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 415 831
Current assets
Debtors 4 12,096 12,726
Cash at bank and in hand 60,360 89,384
72,456 102,110
Creditors: amounts falling due within one year 5 (14,757) (13,469)
Net current assets 57,699 88,641
Total assets less current liabilities 58,114 89,472
Creditors: amounts falling due after more than one year 6 (170) (37,170)
Net assets 57,944 52,302
Capital and reserves
Called up share capital 2 2
Profit and loss account 57,942 52,300
Shareholder's funds 57,944 52,302
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J Gordon
Director
Approved by the board on 25 June 2025
Project Technologies (UK) Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 3 years
Fixtures, fittings, tools and equipment over 3 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 14,108
Disposals (12,861)
At 31 December 2024 1,247
Depreciation
At 1 January 2024 13,277
Charge for the year 416
On disposals (12,861)
At 31 December 2024 832
Net book value
At 31 December 2024 415
At 31 December 2023 831
4 Debtors 2024 2023
£ £
Trade debtors 11,012 11,641
Other debtors 1,084 1,085
12,096 12,726
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 16 15
Taxation and social security costs 14,157 12,771
Other creditors 584 683
14,757 13,469
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 170 37,170
7 Other information
Project Technologies (UK) Limited is a private company limited by shares and incorporated in England. Its registered office is:
35 Newquay Close
Hinckley
Leicestershire
LE10 1XN
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