REGISTERED NUMBER: 09141230 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

PROJECT WORX LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr R D Urquhart

REGISTERED OFFICE:

5 Duncan Close

Moulton Park

Northampton

NN3 6WL

REGISTERED NUMBER:

09141230 (England and Wales)

ACCOUNTANTS:

Cube Partners Limited

Chartered Accountants

5 Giffard Court

Millbrook Close

Northampton

Northamptonshire

NN5 5JF

FIXED ASSETS

Tangible assets

4

311,950

254,052

CURRENT ASSETS

Debtors

5

1,217,064

1,189,371

Cash at bank and in hand

1,491,964

650,928

2,709,028

1,840,299

CREDITORS

Amounts falling due within one year

6

591,349

186,832

NET CURRENT ASSETS

2,117,679

1,653,467

TOTAL ASSETS LESS CURRENT LIABILITIES

2,429,629

1,907,519

PROVISIONS FOR LIABILITIES

63,585

61,731

NET ASSETS

2,366,044

1,845,788

CAPITAL AND RESERVES

Called up, fully paid share capital

100

100

Retained earnings

2,365,944

1,845,688

2,366,044

1,845,788

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 September 2026 and were signed by:

Mr R D Urquhart - Director

1.	STATUTORY INFORMATION

Project Worx Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Turnover

Turnover represents the value of construction and development services provided to customers, excluding value added tax.

Revenue from construction and development contracts is recognised as the performance obligations under the contract are satisfied. Where performance obligations are satisfied over time, revenue is recognised by reference to the stage of completion of the contract at the reporting date.

The stage of completion is determined based on the proportion of contract costs incurred to date compared with the estimated total costs of the project, where this provides an appropriate measure of progress.

Amounts relating to incomplete contracts at the year end are included within work in progress or amounts recoverable on contracts, as appropriate. Work in progress is stated at the value of work performed to date, less amounts recognised as revenue and amounts billed to customers, subject to appropriate provision for foreseeable losses.

Tangible fixed assets

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

Improvements to property

-

10% on cost

Plant and machinery

-

10% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on reducing balance

Tangible fixed assets are stated at historical cost less accumulated depreciation. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use.

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are present as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2025

17,770

67,833

21,629

293,760

400,992

Additions

-

7,444

842

115,273

123,559

Disposals

-

-

-

(18,990

)

(18,990

)

At 31 December 2025

17,770

75,277

22,471

390,043

505,561

DEPRECIATION

At 1 January 2025

16,025

8,450

10,746

111,719

146,940

Charge for year

1,745

7,030

3,712

41,425

53,912

Eliminated on disposal

-

-

-

(7,241

)

(7,241

)

At 31 December 2025

17,770

15,480

14,458

145,903

193,611

NET BOOK VALUE

At 31 December 2025

-

59,797

8,013

244,140

311,950

At 31 December 2024

1,745

59,383

10,883

182,041

254,052

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

182,149

138,103

Other debtors

1,034,915

1,051,268

1,217,064

1,189,371

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

388,328

57,355

Taxation and social security

200,084

123,576

Other creditors

2,937

5,901

591,349

186,832

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2025 and 31 December 2024:

2025

2024

£

£

Mr R D Urquhart

Balance outstanding at start of year

12,254

1,065

Amounts advanced

180,295

157,557

Amounts repaid

(187,492

)

(146,368

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

5,057

12,254

Interest has been charged on the loan at the HMRC official rate. The loan was repaid within 9 months of the year end.