The Projects Brighton Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 11328608

THE PROJECTS BRIGHTON LTD

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 December 2024

THE PROJECTS BRIGHTON LTD

STATEMENT OF FINANCIAL POSITION

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		172,309	204,150

Current assets

Stocks		1,723	2,300
Debtors	6	524,934	440,560
Cash at bank and in hand		89,710	122,754
		----------	----------
		616,367	565,614

Creditors: amounts falling due within one year	7	1,468,642		1,526,618
		-------------		-------------
Net current liabilities			852,275	961,004
			----------	----------
Total assets less current liabilities			( 679,966)	( 756,854)

Provisions	–	13,772
	----------	----------
Net liabilities	( 679,966)	( 770,626)
	----------	----------

Capital and reserves

Called up share capital	1	1
Profit and loss account	( 679,967)	( 770,627)
	----------	----------
Shareholders deficit	( 679,966)	( 770,626)
	----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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

Directors' responsibilities:

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

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

THE PROJECTS BRIGHTON LTD

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 29 September 2025 , and are signed on behalf of the board by:

C P Demetriou

Director

Company registration number: 11328608

THE PROJECTS BRIGHTON LTD

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 8a Ship Street, Brighton, BN1 1AD.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	25% reducing balance
Equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 10 (2023: 9 ).

5. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 January 2024	424,393	23,287	447,680
Additions	22,267	3,327	25,594
	----------	---------	----------
At 31 December 2024	446,660	26,614	473,274
	----------	---------	----------
Depreciation
At 1 January 2024	232,439	11,091	243,530
Charge for the year	53,555	3,880	57,435
	----------	---------	----------
At 31 December 2024	285,994	14,971	300,965
	----------	---------	----------
Carrying amount
At 31 December 2024	160,666	11,643	172,309
	----------	---------	----------
At 31 December 2023	191,954	12,196	204,150
	----------	---------	----------

6. Debtors

	2024	2023
	£	£
Trade debtors	189,024	133,320
Other debtors	335,910	307,240
	----------	----------
	524,934	440,560
	----------	----------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	–	9
Trade creditors	279,036	426,049
Amounts owed to group undertakings and undertakings in which the company has a participating interest	586,168	626,168
Social security and other taxes	61,632	5,267
Other creditors	541,806	469,125
	-------------	-------------
	1,468,642	1,526,618
	-------------	-------------

8. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2024	2023
	£	£
Included in provisions	–	13,772
	----	---------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2024	2023
	£	£
Accelerated capital allowances	–	13,772
	----	---------

9. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Not later than 1 year	1,063,000	885,125
Later than 1 year and not later than 5 years	2,131,522	2,287,272
	-------------	-------------
	3,194,522	3,172,397
	-------------	-------------