REGISTERED NUMBER: 08197315 (England and Wales)

DWELL PROJECTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

S J Warman

S A Wilson

REGISTERED OFFICE:

12 Fratton Road

Portsmouth

Hampshire

PO1 5BX

REGISTERED NUMBER:

08197315 (England and Wales)

ACCOUNTANTS:

Morris Crocker

Chartered Accountants

Station House

North Street

Havant

Hampshire

PO9 1QU

FIXED ASSETS

Property, plant and equipment

4

14,768

20,596

CURRENT ASSETS

Debtors

5

189,936

201,255

Cash at bank and in hand

183,770

39,983

373,706

241,238

CREDITORS

Amounts falling due within one year

6

332,929

185,547

NET CURRENT ASSETS

40,777

55,691

TOTAL ASSETS LESS CURRENT LIABILITIES

55,545

76,287

CREDITORS

Amounts falling due after more than one year

7

(5,750

)

(8,800

)

PROVISIONS FOR LIABILITIES

9

(3,692

)

(3,913

)

NET ASSETS

46,103

63,574

CAPITAL AND RESERVES

Called up share capital

10

2

2

Retained earnings

11

46,101

63,572

SHAREHOLDERS' FUNDS

46,103

63,574

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by:

S J Warman - Director

S A Wilson - Director

1.	STATUTORY INFORMATION

Dwell Projects Limited 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.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Computer equipment

-

33% on cost

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Trade and other debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method

Taxation

Taxation for the year 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 January 2024

65,073

17,568

82,641

Additions

1

-

1

At 31 December 2024

65,074

17,568

82,642

DEPRECIATION

At 1 January 2024

47,003

15,042

62,045

Charge for year

4,517

1,312

5,829

At 31 December 2024

51,520

16,354

67,874

NET BOOK VALUE

At 31 December 2024

13,554

1,214

14,768

At 31 December 2023

18,070

2,526

20,596

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

187,873

181,110

VAT

-

17,607

Prepayments

2,063

2,538

189,936

201,255

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts (see note 8)

14,736

24,871

Trade creditors

156,935

105,859

CIS creditor

9,638

4,727

Corporation tax

44,475

23,894

Social security and other taxes

2,039

1,089

VAT

14,107

-

Other creditors

48,000

23,000

Other creditors

131

-

Accrued expenses

42,868

2,107

332,929

185,547

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

5,750

8,800

8.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

£

Amounts falling due within one year or on demand:

Bank loans

14,736

24,871

9.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

3,692

3,913

Deferred

tax

£

Balance at 1 January 2024

3,913

Accelerated capital allowances

(221

)

Balance at 31 December 2024

3,692

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

2

Ordinary

£1

2

2

11.

RESERVES

Retained

earnings

£

At 1 January 2024

63,572

Profit for the year

131,529

Dividends

(149,000

)

At 31 December 2024

46,101