Projex Solutions Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04636145

Projex Solutions Limited

Filleted Unaudited Financial Statements

31 March 2025

Projex Solutions Limited

Statement of Financial Position

31 March 2025

	31 Mar 25		2 Apr 24
Note	£	£	£

Fixed assets

Tangible assets	5		26,898	25,752

Current assets

Debtors	6	931,387	533,964
Cash at bank and in hand		327,459	297,342
		------------	---------
		1,258,846	831,306

Creditors: amounts falling due within one year	7	395,952		217,007
		------------		---------
Net current assets			862,894	614,299
			---------	---------
Total assets less current liabilities			889,792	640,051

Creditors: amounts falling due after more than one year	8		17,000	34,002

Provisions

Taxation including deferred tax	3,576	3,178
	---------	---------
Net assets	869,216	602,871
	---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	869,116	602,771
	---------	---------
Shareholders funds	869,216	602,871
	---------	---------

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 period ending 31 March 2025 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 financial statements for the period in question in accordance with section 476 ;

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

Projex Solutions Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 1 December 2025 , and are signed on behalf of the board by:

Mr J Ashton
Director

Company registration number: 04636145

Projex Solutions Limited

Notes to the Financial Statements

Period from 3 April 2024 to 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is St Pegs House, Thornhill Beck Lane, Brighouse, West Yorkshire, HD6 4AH.

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

Revenue is measured at the fair value of the consideration received or receivable for the provision of goods and services to customers outside the company net of returns, sales allowances and VAT. Revenue from goods and services is recognised at the point the company fulfils its commercial obligations to the customer, the revenue and costs in respect of the transaction can be measured reliably and collectability is reasonably assured.

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.

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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Leasehold Property Additions	-	25% straight line
Website	-	25% straight line
Plant & Machinery	-	25% straight line
Fixtures & Fittings	-	20% straight line

	Equipment	-	33% straight line

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. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

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

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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 period amounted to 24 (2024: 22 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Equipment	Total
	£	£	£	£	£
Cost
At 3 April 2024	25,188	3,129	41,261	65,189	134,767
Additions	–	–	–	15,937	15,937
Disposals	–	–	–	( 919)	( 919)
	--------	-------	--------	--------	---------
At 31 March 2025	25,188	3,129	41,261	80,207	149,785
	--------	-------	--------	--------	---------
Depreciation
At 3 April 2024	25,188	3,129	34,663	46,035	109,015
Charge for the period	–	–	2,278	12,513	14,791
Disposals	–	–	–	( 919)	( 919)
	--------	-------	--------	--------	---------
At 31 March 2025	25,188	3,129	36,941	57,629	122,887
	--------	-------	--------	--------	---------
Carrying amount
At 31 March 2025	–	–	4,320	22,578	26,898
	--------	-------	--------	--------	---------
At 2 April 2024	–	–	6,598	19,154	25,752
	--------	-------	--------	--------	---------

6. Debtors

	31 Mar 25	2 Apr 24
	£	£
Trade debtors	601,339	292,674
Other debtors	330,048	241,290
	---------	---------
	931,387	533,964
	---------	---------

7. Creditors: amounts falling due within one year

	31 Mar 25	2 Apr 24
	£	£
Bank loans and overdrafts	17,000	16,998
Trade creditors	76,934	12,349
Corporation tax	–	17,755
Social security and other taxes	227,633	149,977
Other creditors	74,385	19,928
	---------	---------
	395,952	217,007
	---------	---------

8. Creditors: amounts falling due after more than one year

	31 Mar 25	2 Apr 24
	£	£
Bank loans and overdrafts	17,000	34,002
	--------	--------

9. Director's advances, credits and guarantees

The director received advances of £46,342 during the year, these were repaid in full post year end. There were no guarantees in the year.

10. Related party transactions

The company was under the control of Mr J Ashton throughout the current and previous year. No other transactions with related parties were undertaken such as are required to be disclosed under the Financial Reporting Standard 102.