Company registration number 13816534 (England and Wales)
PROJECT BEA LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
PROJECT BEA LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
PROJECT BEA LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
290,717
295,717
Current assets
Cash at bank and in hand
13,095
10,428
Creditors: amounts falling due within one year
4
(101,580)
(101,913)
Net current liabilities
(88,485)
(91,485)
Total assets less current liabilities
202,232
204,232
Creditors: amounts falling due after more than one year
5
(204,122)
(204,122)
Net (liabilities)/assets
(1,890)
110
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(1,990)
10
Total equity
(1,890)
110

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 17 September 2025
Mrs A Kelly
Director
Company registration number 13816534 (England and Wales)
PROJECT BEA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Project Bea Limited is a private company limited by shares incorporated in England and Wales. The registered office is Victoria House, 14 New Road Avenue, Chatham, Kent, ME4 6BA.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

A t the time of approving the financial statements, t he director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company is dependant upon the continued support of the Director, via the provision of an interest free loan. An undertaking has been given by the Director that this facility will not be sought until such time that profits have returned to a surplus. Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rental income provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

PROJECT BEA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.7
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
0
0
3
Investment property
2024
£
Fair value
At 1 January 2024
295,717
Revaluations
(5,000)
At 31 December 2024
290,717

Investment property comprises one residential property. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

PROJECT BEA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
137
702
Taxation and social security
704
14
Other creditors
100,739
101,197
101,580
101,913
5
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
204,122
204,122
Creditors which fall due after five years are payable as follows:
Payable other than by instalments
204,122
204,122

The mortgage is secured against the property to which it relates.

2024-12-31 2024-01-01 false false false 17 September 2025 CCH Software CCH Accounts Production 2025.200 No description of principal activity Mrs A Kelly 13816534 2024-01-01 2024-12-31 13816534 2024-12-31 13816534 2023-12-31 13816534 core:ShareCapital 2024-12-31 13816534 core:ShareCapital 2023-12-31 13816534 core:RetainedEarningsAccumulatedLosses 2024-12-31 13816534 core:RetainedEarningsAccumulatedLosses 2023-12-31 13816534 bus:Director1 2024-01-01 2024-12-31 13816534 2023-01-01 2023-12-31 13816534 2023-12-31 13816534 core:CurrentFinancialInstruments 2024-12-31 13816534 core:CurrentFinancialInstruments 2023-12-31 13816534 core:Non-currentFinancialInstruments 2024-12-31 13816534 core:Non-currentFinancialInstruments 2023-12-31 13816534 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13816534 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 13816534 bus:FRS102 2024-01-01 2024-12-31 13816534 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 13816534 bus:FullAccounts 2024-01-01 2024-12-31 xbrli:pure xbrli:shares iso4217:GBP