Registration number:
Project Consultants Limited
for the Year Ended 30 November 2020
Project Consultants Limited
(Registration number: 03124759)
Balance Sheet
30 November 2020
Note |
2020 |
2019 |
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Fixed assets |
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Investment property |
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Other financial assets |
3 |
3 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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Project Consultants Limited
(Registration number: 03124759)
Balance Sheet
30 November 2020
For the financial year ending 30 November 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
Director
Company secretary and director
Project Consultants Limited
Notes to the Unaudited Financial Statements
Year Ended 30 November 2020
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for provision of services in the ordinary course of the company’s activities and is shown net of value added tax.
Tax
The tax expense for the period comprises deferred tax and is recognised in profit or loss.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Project Consultants Limited
Notes to the Unaudited Financial Statements
Year Ended 30 November 2020
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures and fittings |
33.33% sraight line |
Office equipment |
50% straight line |
Investment property
Project Consultants Limited
Notes to the Unaudited Financial Statements
Year Ended 30 November 2020
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Fixtures and fittings |
Office equipment |
Total |
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Cost or valuation |
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At 1 December 2019 |
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Disposals |
( |
( |
( |
At 30 November 2020 |
- |
- |
- |
Depreciation |
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At 1 December 2019 |
|
|
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Eliminated on disposal |
( |
( |
( |
At 30 November 2020 |
- |
- |
- |
Carrying amount |
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At 30 November 2020 |
- |
- |
- |
Project Consultants Limited
Notes to the Unaudited Financial Statements
Year Ended 30 November 2020
Investment properties |
2020 |
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At 1 December |
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Fair value adjustments |
( |
At 30 November |
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There has been no valuation of investment property by an independent valuer. The property has been revalued by the directors.
Project Consultants Limited
Notes to the Unaudited Financial Statements
Year Ended 30 November 2020
Other financial assets (current and non-current) |
Financial assets at cost less impairment |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 1 December 2019 |
3 |
3 |
At 30 November 2020 |
3 |
3 |
Impairment |
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Carrying amount |
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At 30 November 2020 |
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3 |
Debtors |
2020 |
2019 |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2020 |
2019 |
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Due within one year |
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Trade creditors |
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- |
Taxation and social security |
- |
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Accruals and deferred income |
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Other creditors |
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