Projex Ventures Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: 13910163

		31 March 2026		31 March 2025
	Notes	£	£	£	£
FIXED ASSETS
Investments	4		1		1

			1		1
CURRENT ASSETS
Debtors	5	100		-
Cash at bank and in hand		1,510,647		934,365

		1,510,747		934,365
Creditors: Amounts Falling Due Within One Year	6	(1,407,059 )		(834,456 )

NET CURRENT ASSETS (LIABILITIES)			103,688		99,909

TOTAL ASSETS LESS CURRENT LIABILITIES			103,689		99,910

NET ASSETS			103,689		99,910

CAPITAL AND RESERVES
Called up share capital	7		200		100
Profit and Loss Account			103,489		99,810

SHAREHOLDERS' FUNDS			103,689		99,910

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Projex Ventures Limited

Balance Sheet (continued)

As At 31 March 2026

For the year ending 31 March 2026 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 directors acknowledge their 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Wayne Skinner Director	Mr Graeme Robson Director	Mr Brian Lancaster Director
Mr Dean McPhilimey Director
20/08/2026

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

Projex Ventures Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13910163 . The registered office is Unit 1-2 Kingsditch Lane, Cheltenham, GL51 9PB.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2025: NIL)

4. Investments

	Subsidiaries
	£
Cost or Valuation
As at 1 April 2025	1

As at 31 March 2026	1

Provision
As at 1 April 2025	-

As at 31 March 2026	-

Net Book Value
As at 31 March 2026	1

As at 1 April 2025	1

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Projex Ventures Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

5. Debtors

	31 March 2026	31 March 2025
	£	£
Due within one year
Other debtors	100	-

6. Creditors: Amounts Falling Due Within One Year

	31 March 2026	31 March 2025
	£	£
Corporation tax	1,918	13,816
Amounts owed to other participating interests	1,405,141	820,640

	1,407,059	834,456

7. Share Capital

	31 March 2026	31 March 2025
	£	£
Allotted, Called up and fully paid	200	100

8. Related Party Transactions

HFL 36 Group Limited

Common director - Mr Graeme Robson, Mr Wayne Skinner, Dean McPhilimey and Brian Lancaster

Inter company balance £403,478 (2025: £600,000)

Projex Cellular Infrastructure UK Limited

Common director - Mr Graeme Robson, Mr Wayne Skinner, Dean McPhilimey and Brian Lancaster

Inter company balance £1,001,663 (2025: £1,420,640)

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