Project Developments (UK) Limited 03885774 false 2023-12-01 2024-11-30 2024-11-30 The principal activity of the company is that of developer, contractor and project manager. The company also receives rental income from the letting of residential property Digita Accounts Production Advanced 6.30.9574.0 true true 03885774 2023-12-01 2024-11-30 03885774 2024-11-30 03885774 bus:OrdinaryShareClass1 2024-11-30 03885774 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-11-30 03885774 core:CurrentFinancialInstruments 2024-11-30 03885774 core:CurrentFinancialInstruments core:WithinOneYear 2024-11-30 03885774 core:FurnitureFittingsToolsEquipment 2024-11-30 03885774 core:MotorVehicles 2024-11-30 03885774 bus:SmallEntities 2023-12-01 2024-11-30 03885774 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 03885774 bus:FilletedAccounts 2023-12-01 2024-11-30 03885774 bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 03885774 bus:RegisteredOffice 2023-12-01 2024-11-30 03885774 bus:Director3 2023-12-01 2024-11-30 03885774 bus:OrdinaryShareClass1 2023-12-01 2024-11-30 03885774 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 03885774 core:ComputerEquipment 2023-12-01 2024-11-30 03885774 core:FurnitureFittings 2023-12-01 2024-11-30 03885774 core:FurnitureFittingsToolsEquipment 2023-12-01 2024-11-30 03885774 core:MotorVehicles 2023-12-01 2024-11-30 03885774 core:PlantMachinery 2023-12-01 2024-11-30 03885774 countries:AllCountries 2023-12-01 2024-11-30 03885774 2023-11-30 03885774 core:FurnitureFittingsToolsEquipment 2023-11-30 03885774 core:MotorVehicles 2023-11-30 03885774 2022-12-01 2023-11-30 03885774 2023-11-30 03885774 bus:Director3 1 2023-11-30 03885774 bus:OrdinaryShareClass1 2023-11-30 03885774 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-11-30 03885774 core:CurrentFinancialInstruments 2023-11-30 03885774 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 03885774 core:FurnitureFittingsToolsEquipment 2023-11-30 03885774 core:MotorVehicles 2023-11-30 03885774 bus:Director3 1 2022-12-01 2023-11-30 03885774 bus:Director3 1 2022-11-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03885774

Project Developments (UK) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Project Developments (UK) Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 8

 

Project Developments (UK) Limited

(Registration number: 03885774)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

10,931

14,467

Current assets

 

Debtors

5

218,341

352,570

Cash at bank and in hand

 

76,634

105,536

 

294,975

458,106

Creditors: Amounts falling due within one year

6

(100,463)

(230,113)

Net current assets

 

194,512

227,993

Total assets less current liabilities

 

205,443

242,460

Provisions for liabilities

(2,152)

(2,296)

Net assets

 

203,291

240,164

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

203,289

240,162

Shareholders' funds

 

203,291

240,164

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 August 2025
 

.........................................
Ms R Ferzoli
Director

 

Project Developments (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
10 Broad Street
Abingdon
Oxfordshire
OX14 3LH

The principal place of business is:
4 Mill Plat
Old Isleworth
Middlesex
TW7 6DY

These financial statements were authorised for issue by the director on 29 August 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Project Developments (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance basis

Fixtures and fittings

15% reducing balance basis

Computer equipment

25% reducing balance basis

Plant and equipment

15% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Project Developments (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Project Developments (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 12 (2023 - 12).

 

Project Developments (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2023

34,702

48,388

83,090

At 30 November 2024

34,702

48,388

83,090

Depreciation

At 1 December 2023

29,921

38,702

68,623

Charge for the year

1,114

2,422

3,536

At 30 November 2024

31,035

41,124

72,159

Carrying amount

At 30 November 2024

3,667

7,264

10,931

At 30 November 2023

4,781

9,686

14,467

5

Debtors

2024
£

2023
£

Trade debtors

207,125

352,570

Other debtors

11,216

-

218,341

352,570

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

-

6,515

Trade creditors

 

3,296

75,121

Taxation and social security

 

83,768

98,229

Accruals and deferred income

 

1,550

1,550

Other creditors

 

11,849

48,698

 

100,463

230,113

 

Project Developments (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

-

6,515

9

Dividends

2024

2023

£

£

Interim dividend of £500.00 (2023 - £1,000.00) per ordinary share

1,000

2,000

 

 
 

Project Developments (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

10

Related party transactions

Transactions with the director

2023

At 1 December 2022
£

Repayments by director
£

At 30 November 2023
£

Ms R Ferzoli

Loan

24,767

(24,767)

-

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

13,708

12,570

Contributions paid to money purchase schemes

224

190

13,932

12,760