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REGISTERED NUMBER: 12665677 (England and Wales)















Unaudited Financial Statements

For The Period 30 March 2023 to 25 March 2024

for

The Factory Project Ltd

The Factory Project Ltd (Registered number: 12665677)






Contents of the Financial Statements
For The Period 30 March 2023 to 25 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


The Factory Project Ltd

Company Information
For The Period 30 March 2023 to 25 March 2024







DIRECTOR: N J Hartwright





REGISTERED OFFICE: 4 Thameside Industrial Estate
Factory Road
London
E16 2HB





REGISTERED NUMBER: 12665677 (England and Wales)





ACCOUNTANTS: Fuller Spurling
Mill House
58 Guildford Street
Chertsey
Surrey
KT16 9BE

The Factory Project Ltd (Registered number: 12665677)

Balance Sheet
25 March 2024

25.3.24 29.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 642,071 734,522

CURRENT ASSETS
Debtors 5 749,870 759,471
Cash at bank and in hand 10,808 8,942
760,678 768,413
CREDITORS
Amounts falling due within one year 6 1,080,866 906,257
NET CURRENT LIABILITIES (320,188 ) (137,844 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

321,883

596,678

CREDITORS
Amounts falling due after more than one
year

7

1,158,345

1,158,345
NET LIABILITIES (836,462 ) (561,667 )

RESERVES
Retained earnings (836,462 ) (561,667 )
(836,462 ) (561,667 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 25 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 25 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 August 2025 and were signed by:



N J Hartwright - Director


The Factory Project Ltd (Registered number: 12665677)

Notes to the Financial Statements
For The Period 30 March 2023 to 25 March 2024

1. STATUTORY INFORMATION

The Factory Project Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared under the going concern basis, relying on the continued support of the company's directors and loan creditors and the future achievement of grant providers objectives.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - in accordance with the lease term
Plant and machinery - 25% on cost
Motor vehicles - 25% on cost
Office furniture - 25% on cost

The depreciation of improvements to property will commence when the improvements have been fully completed.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

The Factory Project Ltd (Registered number: 12665677)

Notes to the Financial Statements - continued
For The Period 30 March 2023 to 25 March 2024

2. ACCOUNTING POLICIES - continued

Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand
Cash at bank includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors
Creditors, provisions and accrued costs are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Interest Bearing borrowings
Loans received are stated at the initial amount received. Interest is accrued up to the end of the accounting period where not yet paid. Costs of raising finance are recognised in profit and loss account in the period in which they are incurred.

Government grants
Grants towards capital expenditure are shown as credits, when received, against the relevant fixed asset heading and are thus effectively released to profit and loss account over the life of the relevant fixed assets by reducing the depreciation charge.

Grants toward revenue expenditure are taken straight to profit and loss account when received and shown as other operating income.

Where there are conditions attaching to the grants, the directors keep these under review such that should any of the grants become repayable, this is then transferred back to creditors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Motor Office
property machinery vehicles furniture Totals
£    £    £    £    £   
COST
At 30 March 2023 784,250 22,500 17,975 7,969 832,694
Additions 39,121 - - - 39,121
Grants (30,000 ) - - - (30,000 )
At 25 March 2024 793,371 22,500 17,975 7,969 841,815
DEPRECIATION
At 30 March 2023 86,109 5,944 5,392 727 98,172
Charge for period 89,461 5,625 4,494 1,992 101,572
At 25 March 2024 175,570 11,569 9,886 2,719 199,744
NET BOOK VALUE
At 25 March 2024 617,801 10,931 8,089 5,250 642,071
At 29 March 2023 698,141 16,556 12,583 7,242 734,522

The Factory Project Ltd (Registered number: 12665677)

Notes to the Financial Statements - continued
For The Period 30 March 2023 to 25 March 2024

5. DEBTORS
25.3.24 29.3.23
£    £   
Amounts falling due within one year:
Trade debtors 12,544 110,273
Other debtors 100,062 47,238
VAT 3,525 49,775
Prepayments 273,739 272,185
389,870 479,471

Amounts falling due after more than one year:
Rent deposit 360,000 280,000

Aggregate amounts 749,870 759,471

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
25.3.24 29.3.23
£    £   
Trade creditors 447,530 229,420
Social security and other taxes - 8,740
Other creditors 619,119 662,037
Directors' current accounts 7,247 290
Accrued expenses 6,970 5,770
1,080,866 906,257

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
25.3.24 29.3.23
£    £   
Other loans 830,000 830,000
Other creditors 328,345 328,345
1,158,345 1,158,345

8. OTHER FINANCIAL COMMITMENTS

At 25th March 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £2,200,000.

The Factory Project Ltd (Registered number: 12665677)

Notes to the Financial Statements - continued
For The Period 30 March 2023 to 25 March 2024

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 25 March 2024 and the year ended 29 March 2023:

25.3.24 29.3.23
£    £   
N J Hartwright
Balance outstanding at start of period - 12,005
Amounts advanced - 11,498
Amounts repaid - (23,503 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - -