Company Registration No. 9050055 (England and Wales)
Project Nirvana Limited
Unaudited accounts
for the year ended 31 March 2025
Project Nirvana Limited
Unaudited accounts
Contents
Project Nirvana Limited
Company Information
for the year ended 31 March 2025
Director
Ronan J O' Sullivan
Company Number
9050055 (England and Wales)
Registered Office
10 Havering Street
London
E1 0LP
United Kingdom
Project Nirvana Limited
Statement of financial position
as at 31 March 2025
Tangible assets
2,165
8,452
Cash at bank and in hand
235,776
267,828
Creditors: amounts falling due within one year
(700)
(2,751)
Net current assets
252,756
265,661
Net assets
254,921
274,113
Called up share capital
10
10
Profit and loss account
254,911
274,103
Shareholders' funds
254,921
274,113
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 December 2025 and were signed on its behalf by
Ronan J O' Sullivan
Director
Company Registration No. 9050055
Project Nirvana Limited
Notes to the Accounts
for the year ended 31 March 2025
Project Nirvana Limited is a private company, limited by shares, registered in England and Wales, registration number 9050055. The registered office is 10 Havering Street, London, E1 0LP, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
20% on balance
Computer equipment
20% on balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Expenditure on research and development is written off in the year in which it is incurred.
The director has considered the period ahead and anticipates further losses in the coming year. The director believes that with support from the shareholder funds and creditors continued funding will be provided to support the company whilst it moves towards profitability and to enable it to meet its day-to-day commitments from cashflows.
As a consequence, the director also believes that the company is well placed to manage its business risks successfully. As such, the director has reasonable expectations that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the company continues to adopt the going concern basis in preparing the annual report and accounts.
Project Nirvana Limited
Notes to the Accounts
for the year ended 31 March 2025
4
Tangible fixed assets
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2024
34,830
8,999
43,829
Disposals
(34,830)
-
(34,830)
At 31 March 2025
-
8,999
8,999
At 1 April 2024
29,085
6,292
35,377
Charge for the year
-
542
542
On disposals
(29,085)
-
(29,085)
At 31 March 2025
-
6,834
6,834
At 31 March 2025
-
2,165
2,165
At 31 March 2024
5,745
2,707
8,452
Amounts falling due within one year
Accrued income and prepayments
-
492
6
Creditors: amounts falling due within one year
2025
2024
Taxes and social security
-
1,250
Loans from directors
-
275
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10
10
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan to director
-
17,680
-
17,680
Project Nirvana Limited
Notes to the Accounts
for the year ended 31 March 2025
9
Transactions with related parties
Mr Ronan J O'Sullivan:
During the period interim dividends of £11,000 (2024: £17,000) were distributed to the director.
10
Average number of employees
During the year the average number of employees was 1 (2024: 1).