2023-12-012024-11-302024-11-30false13048947PROJEX INVESTMENTS LTD2025-08-1268209falseiso4217:GBPxbrli:pure130489472023-11-30130489472024-11-30130489472023-12-012024-11-30130489472022-11-30130489472023-11-30130489472022-12-012023-11-3013048947bus:SmallEntities2023-12-012024-11-3013048947bus:AuditExempt-NoAccountantsReport2023-12-012024-11-3013048947bus:FullAccounts2023-12-012024-11-3013048947bus:PrivateLimitedCompanyLtd2023-12-012024-11-3013048947core:WithinOneYear2024-11-3013048947core:AfterOneYear2024-11-3013048947core:WithinOneYear2023-11-3013048947core:AfterOneYear2023-11-3013048947core:ShareCapital2024-11-3013048947core:SharePremium2024-11-3013048947core:RevaluationReserve2024-11-3013048947core:OtherReservesSubtotal2024-11-3013048947core:RetainedEarningsAccumulatedLosses2024-11-3013048947core:ShareCapital2023-11-3013048947core:SharePremium2023-11-3013048947core:RevaluationReserve2023-11-3013048947core:OtherReservesSubtotal2023-11-3013048947core:RetainedEarningsAccumulatedLosses2023-11-3013048947core:LandBuildings2024-11-3013048947core:PlantMachinery2024-11-3013048947core:Vehicles2024-11-3013048947core:FurnitureFittings2024-11-3013048947core:OfficeEquipment2024-11-3013048947core:NetGoodwill2024-11-3013048947core:IntangibleAssetsOtherThanGoodwill2024-11-3013048947core:ListedExchangeTraded2024-11-3013048947core:UnlistedNon-exchangeTraded2024-11-3013048947core:LandBuildings2023-11-3013048947core:PlantMachinery2023-11-3013048947core:Vehicles2023-11-3013048947core:FurnitureFittings2023-11-3013048947core:OfficeEquipment2023-11-3013048947core:NetGoodwill2023-11-3013048947core:IntangibleAssetsOtherThanGoodwill2023-11-3013048947core:ListedExchangeTraded2023-11-3013048947core:UnlistedNon-exchangeTraded2023-11-3013048947core:LandBuildings2023-12-012024-11-3013048947core:PlantMachinery2023-12-012024-11-3013048947core:Vehicles2023-12-012024-11-3013048947core:FurnitureFittings2023-12-012024-11-3013048947core:OfficeEquipment2023-12-012024-11-3013048947core:NetGoodwill2023-12-012024-11-3013048947core:IntangibleAssetsOtherThanGoodwill2023-12-012024-11-3013048947core:ListedExchangeTraded2023-12-012024-11-3013048947core:UnlistedNon-exchangeTraded2023-12-012024-11-3013048947core:MoreThanFiveYears2023-12-012024-11-3013048947core:Non-currentFinancialInstruments2024-11-3013048947core:Non-currentFinancialInstruments2023-11-3013048947dpl:CostSales2023-12-012024-11-3013048947dpl:DistributionCosts2023-12-012024-11-3013048947core:LandBuildings2023-12-012024-11-3013048947core:PlantMachinery2023-12-012024-11-3013048947core:Vehicles2023-12-012024-11-3013048947core:FurnitureFittings2023-12-012024-11-3013048947core:OfficeEquipment2023-12-012024-11-3013048947dpl:AdministrativeExpenses2023-12-012024-11-3013048947core:NetGoodwill2023-12-012024-11-3013048947core:IntangibleAssetsOtherThanGoodwill2023-12-012024-11-3013048947dpl:GroupUndertakings2023-12-012024-11-3013048947dpl:ParticipatingInterests2023-12-012024-11-3013048947dpl:GroupUndertakingscore:ListedExchangeTraded2023-12-012024-11-3013048947core:ListedExchangeTraded2023-12-012024-11-3013048947dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-12-012024-11-3013048947core:UnlistedNon-exchangeTraded2023-12-012024-11-3013048947dpl:CostSales2022-12-012023-11-3013048947dpl:DistributionCosts2022-12-012023-11-3013048947core:LandBuildings2022-12-012023-11-3013048947core:PlantMachinery2022-12-012023-11-3013048947core:Vehicles2022-12-012023-11-3013048947core:FurnitureFittings2022-12-012023-11-3013048947core:OfficeEquipment2022-12-012023-11-3013048947dpl:AdministrativeExpenses2022-12-012023-11-3013048947core:NetGoodwill2022-12-012023-11-3013048947core:IntangibleAssetsOtherThanGoodwill2022-12-012023-11-3013048947dpl:GroupUndertakings2022-12-012023-11-3013048947dpl:ParticipatingInterests2022-12-012023-11-3013048947dpl:GroupUndertakingscore:ListedExchangeTraded2022-12-012023-11-3013048947core:ListedExchangeTraded2022-12-012023-11-3013048947dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-12-012023-11-3013048947core:UnlistedNon-exchangeTraded2022-12-012023-11-3013048947core:NetGoodwill2024-11-3013048947core:IntangibleAssetsOtherThanGoodwill2024-11-3013048947core:LandBuildings2024-11-3013048947core:PlantMachinery2024-11-3013048947core:Vehicles2024-11-3013048947core:FurnitureFittings2024-11-3013048947core:OfficeEquipment2024-11-3013048947core:AfterOneYear2024-11-3013048947core:WithinOneYear2024-11-3013048947core:ListedExchangeTraded2024-11-3013048947core:UnlistedNon-exchangeTraded2024-11-3013048947core:ShareCapital2024-11-3013048947core:SharePremium2024-11-3013048947core:RevaluationReserve2024-11-3013048947core:OtherReservesSubtotal2024-11-3013048947core:RetainedEarningsAccumulatedLosses2024-11-3013048947core:NetGoodwill2023-11-3013048947core:IntangibleAssetsOtherThanGoodwill2023-11-3013048947core:LandBuildings2023-11-3013048947core:PlantMachinery2023-11-3013048947core:Vehicles2023-11-3013048947core:FurnitureFittings2023-11-3013048947core:OfficeEquipment2023-11-3013048947core:AfterOneYear2023-11-3013048947core:WithinOneYear2023-11-3013048947core:ListedExchangeTraded2023-11-3013048947core:UnlistedNon-exchangeTraded2023-11-3013048947core:ShareCapital2023-11-3013048947core:SharePremium2023-11-3013048947core:RevaluationReserve2023-11-3013048947core:OtherReservesSubtotal2023-11-3013048947core:RetainedEarningsAccumulatedLosses2023-11-3013048947core:NetGoodwill2022-11-3013048947core:IntangibleAssetsOtherThanGoodwill2022-11-3013048947core:LandBuildings2022-11-3013048947core:PlantMachinery2022-11-3013048947core:Vehicles2022-11-3013048947core:FurnitureFittings2022-11-3013048947core:OfficeEquipment2022-11-3013048947core:AfterOneYear2022-11-3013048947core:WithinOneYear2022-11-3013048947core:ListedExchangeTraded2022-11-3013048947core:UnlistedNon-exchangeTraded2022-11-3013048947core:ShareCapital2022-11-3013048947core:SharePremium2022-11-3013048947core:RevaluationReserve2022-11-3013048947core:OtherReservesSubtotal2022-11-3013048947core:RetainedEarningsAccumulatedLosses2022-11-3013048947core:AfterOneYear2023-12-012024-11-3013048947core:WithinOneYear2023-12-012024-11-3013048947core:Non-currentFinancialInstrumentscore:CostValuation2023-12-012024-11-3013048947core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-12-012024-11-3013048947core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-12-012024-11-3013048947core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-12-012024-11-3013048947core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-12-012024-11-3013048947core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-12-012024-11-3013048947core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-12-012024-11-3013048947core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-12-012024-11-3013048947core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-12-012024-11-3013048947core:Non-currentFinancialInstrumentscore:CostValuation2024-11-3013048947core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2024-11-3013048947core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2024-11-3013048947core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2024-11-3013048947core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2024-11-3013048947core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2024-11-3013048947core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2024-11-3013048947core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2024-11-3013048947core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2024-11-3013048947core:Non-currentFinancialInstrumentscore:CostValuation2023-11-3013048947core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-11-3013048947core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-11-3013048947core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-11-3013048947core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-11-3013048947core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-11-3013048947core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-11-3013048947core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-11-3013048947core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-11-3013048947bus:Director12023-12-012024-11-3013048947bus:Director22023-12-012024-11-30

PROJEX INVESTMENTS LTD

Registered Number
13048947
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2024

PROJEX INVESTMENTS LTD
Company Information
for the year from 1 December 2023 to 30 November 2024

Directors

KEARSEY, James Stuart
WARD, Bradley Mark

Registered Address

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

Registered Number

13048947 (England and Wales)
PROJEX INVESTMENTS LTD
Statement of Financial Position
30 November 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investment property31,223,4431,037,558
1,223,4431,037,558
Current assets
Debtors424,37318,660
Current asset investments525-
Cash at bank and on hand65,46110,531
89,85929,191
Prepayments and accrued income3,7061,875
Creditors amounts falling due within one year6(343,548)(808,394)
Net current assets (liabilities)(249,983)(777,328)
Total assets less current liabilities973,460260,230
Creditors amounts falling due after one year7(1,058,207)(257,045)
Provisions for liabilities8-(514)
Net assets(84,747)2,671
Capital and reserves
Called up share capital1,0001,000
Revaluation reserve48,29848,298
Profit and loss account(134,045)(46,627)
Shareholders' funds(84,747)2,671
The financial statements were approved and authorised for issue by the Board of Directors on 12 August 2025, and are signed on its behalf by:
KEARSEY, James Stuart
Director
Registered Company No. 13048947
PROJEX INVESTMENTS LTD
Notes to the Financial Statements
for the year ended 30 November 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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
The Directors are aware of their responsibilities whilst trading insolvent and will not withdraw their Director Loan Account balances until the companies balance sheet is solvent.
Turnover policy
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
2.Average number of employees

20242023
Average number of employees during the year22
3.Investment property
The fair value of the following investment property has been arrived at on the basis of a valuation carried out by the directors as at 30/11/2024 on an open market value basis by reference to market evidence of transactions prices for similar properties.

£
Fair value at 01 December 231,037,558
Additions185,885
At 30 November 241,223,443
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables-13,500
Other debtors24,3735,160
Total24,37318,660
5.Current asset investments
The company invested in shares in the company Projex Property Developments to the sum of £25.
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables5,9092,531
Bank borrowings and overdrafts-262,341
Taxation and social security-421
Other creditors334,711540,305
Accrued liabilities and deferred income2,9282,796
Total343,548808,394
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts729,510257,045
Other creditors328,697-
Total1,058,207257,045
The company has fixed charges over the properties at 1 The Timbers, Park Road, Sutton SM3,9PZ and 170 High Street, Banstead SM7 2NZ with Paragon Bank PLC and Foundation Homeloans.
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)-514
Total-514
9.Related party transactions
Within Other debtors there is intercompany balances totalling £4,375. Within other Creditors there is intercompany balances totalling £334,710.56.