The District Project Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 10639005

		31 March 2024		28 February 2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		2,400,238		1,522,929

			2,400,238		1,522,929
CURRENT ASSETS
Debtors	5	149,631		128,335
Cash at bank and in hand		2,142		5,746

		151,773		134,081
Creditors: Amounts Falling Due Within One Year	6	(24,015 )		(34,329 )

NET CURRENT ASSETS (LIABILITIES)			127,758		99,752

TOTAL ASSETS LESS CURRENT LIABILITIES			2,527,996		1,622,681

Creditors: Amounts Falling Due After More Than One Year	7		(1,628,703 )		(1,724,625 )

NET ASSETS/(LIABILITIES)			899,293		(101,944 )

CAPITAL AND RESERVES
Called up share capital	8		1,000		100
Revaluation reserve	9		877,450		-
Profit and Loss Account			20,843		(102,044 )

SHAREHOLDERS' FUNDS			899,293		(101,944)

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The District Project Ltd

Balance Sheet (continued)

As At 31 March 2024

For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr B Smith

Director

11/09/2025

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

The District Project Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10639005 . The registered office is 86-90 Paul Street, London, EC2A 4NE.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	No depreciation
Fixtures & Fittings	20% Reducing Balance

2.4. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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The District Project Ltd

Notes to the Financial Statements (continued)

For the Period 1 March 2023 to 31 March 2024

2.4. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the period was: 2 (2023: 2)

4. Tangible Assets

	Land & Property
	Freehold	Fixtures & Fittings	Total
	£	£	£
Cost or Valuation
As at 1 March 2023	1,522,550	474	1,523,024
Revaluation	877,450	-	877,450

As at 31 March 2024	2,400,000	474	2,400,474

Depreciation
As at 1 March 2023	-	95	95
Provided during the period	-	141	141

As at 31 March 2024	-	236	236

Net Book Value
As at 31 March 2024	2,400,000	238	2,400,238

As at 1 March 2023	1,522,550	379	1,522,929

There has been no valuation of property by an independent valuer; the director has reviewed the fair value of the property at the year end.

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The District Project Ltd

Notes to the Financial Statements (continued)

For the Period 1 March 2023 to 31 March 2024

5. Debtors

	31 March 2024	28 February 2023
	£	£
Due within one year
Trade debtors	12,736	883
Amounts owed by participating interests	111,580	-
Other debtors	25,315	127,452

	149,631	128,335

6. Creditors: Amounts Falling Due Within One Year

	31 March 2024	28 February 2023
	£	£
Trade creditors	957	4,539
Bank loans and overdrafts	6,258	12,909
Other creditors	16,800	2,957
Taxation and social security	-	13,924

	24,015	34,329

7. Creditors: Amounts Falling Due After More Than One Year

	31 March 2024	28 February 2023
	£	£
Bank loans	1,628,703	1,724,625

Bank loans of £1,600,000 are secured against the freehold property.

8. Share Capital

	31 March 2024	28 February 2023
	£	£
Allotted, Called up and fully paid	1,000	100

9. Reserves

	Revaluation Reserve
	£
Transfer to profit and loss	877,450

As at 31 March 2024	877,450

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The District Project Ltd

Notes to the Financial Statements (continued)

For the Period 1 March 2023 to 31 March 2024

10. Related Party Transactions

Included in the debtors are loans from parties deemed related by virtue of common control of £111,580 (2023: £NIL). These loans are unsecured, interest free and repayble on demand.

11. Year end change

The directors have elected to extend the year end from 28 February 2024 to 31 March 24 in order to align the accounts with other companies within the group. For this reason, the year ends 2023 and 2024 will not be comparable.

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