Registered number
13534219
Project Leo Construction Limited
Report and Accounts
31 July 2024
Project Leo Construction Limited
Registered number: 13534219
Director's Report
The director presents his report and financial statements for the year ended 31 July 2024.
Principal activities
The company's principal activity during the period was that of the construction of commercial and residential properties.
Directors
The following persons served as directors during the year:
Mr Sarjit Singh Sandhu
Mr Maneet Singh Sandhu
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 29 August 2025 and signed on its behalf.
Mr Sarjit Singh Sandhu
Director
Project Leo Construction Limited
Profit and Loss Account
for the year ended 31 July 2024
2024 2023
£ £
Turnover 1,787,647 917,104
Cost of sales (1,031,768) (755,779)
Gross profit 755,879 161,325
Administrative expenses (310,865) (194,591)
Operating profit/(loss) 445,014 (33,266)
Interest receivable 74 8
Interest payable (362) (263)
Profit/(loss) on ordinary activities before taxation 444,726 (33,521)
Tax on profit/(loss) on ordinary activities (9,574) -
Profit/(loss) for the financial year 435,152 (33,521)
Project Leo Construction Limited
Registered number: 13534219
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £ £ £
Fixed assets
Tangible assets 3 500,784 -
Current assets
Stocks 14,527 -
Debtors 4 116,569 -
Cash at bank and in hand 95,426 1,602
226,522 1,602
Creditors: amounts falling due within one year 5 (64,386) (35,054)
Net current assets 162,136 (33,452)
Total assets less current liabilities 662,920 (33,452)
Creditors: amounts falling due after more than one year 6 (261,220) -
Net assets 401,700 (33,452)
Capital and reserves
Called up share capital 100 100
Profit and loss account 401,600 (33,552)
Shareholder's funds 401,700 (33,452)
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 Sarjit Singh Sandhu
Director
Approved by the board on 29 August 2025
Project Leo Construction Limited
Notes to the Accounts
for the year ended 31 July 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 10% reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 -
3 Tangible fixed assets
Plant and Machinery Total
£ £
Cost
At 1 August 2023 - -
Additions 556,427 556,427
At 31 July 2024 556,427 556,427
Depreciation
At 1 August 2023 - -
Charge for the year 55,643 55,643
At 31 July 2024 55,643 55,643
Net book value
At 31 July 2024 500,784 500,784
At 31 July 2023 - -
4 Debtors 2024 2023
£ £
Trade debtors 107,352 -
Other debtors 9,217 -
116,569 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 38,574 4,152
Corporation tax - -
Other taxes and social security costs 17,859 104
Other creditors 7,953 30,798
64,386 35,054
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 261,220 -
261,220 -
7 Other information
Project Leo Construction Limited is a private company limited by shares and incorporated in England. Its registered office is:
St Georges Community Hub
Great Hampton Road
Birmingham
B19 3JG
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