2023-10-072024-10-312024-10-31false15194688PROJEX HOSPITALITY 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PROJEX HOSPITALITY LTD

Registered Number
15194688
(England and Wales)

Unaudited Financial Statements for the Period ended
31 October 2024

PROJEX HOSPITALITY LTD
Company Information
for the period from 7 October 2023 to 31 October 2024

Directors

KEARSEY, James Stuart
WARD, Bradley Mark

Registered Address

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

Registered Number

15194688 (England and Wales)
PROJEX HOSPITALITY LTD
Statement of Financial Position
31 October 2024

Notes

2024

£

£

Fixed assets
Tangible assets3783
783
Current assets
Stocks412,340
Debtors57,785
Cash at bank and on hand11,978
32,103
Creditors amounts falling due within one year6(31,796)
Net current assets (liabilities)307
Total assets less current liabilities1,090
Provisions for liabilities7(149)
Net assets941
Capital and reserves
Called up share capital100
Profit and loss account841
Shareholders' funds941
The financial statements were approved and authorised for issue by the Board of Directors on 19 June 2025, and are signed on its behalf by:
KEARSEY, James Stuart
Director
Registered Company No. 15194688
PROJEX HOSPITALITY LTD
Notes to the Financial Statements
for the period ended 31 October 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.
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.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Fixtures and fittings25
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

2024
Average number of employees during the year6
3.Tangible fixed assets

Fixtures & fittings

Total

££
Cost or valuation
Additions1,0441,044
At 31 October 241,0441,044
Depreciation and impairment
Charge for year261261
At 31 October 24261261
Net book value
At 31 October 24783783
At 06 October 23--
4.Stocks

2024

£
Raw materials and consumables12,340
Total12,340
5.Debtors: amounts due within one year

2024

£
Other debtors100
Prepayments and accrued income7,685
Total7,785
6.Creditors: amounts due within one year

2024

£
Trade creditors / trade payables14,467
Taxation and social security1,428
Other creditors10,469
Accrued liabilities and deferred income5,432
Total31,796
7.Provisions for liabilities

2024

£
Net deferred tax liability (asset)149
Total149