Company Registration No. 07300238 (England and Wales)
PROVIDENT PROJECT SOLUTIONS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 JUNE 2021
4 Brackley Close
Bournemouth International Airport
Christchurch
Dorset
BH23 6SE
PROVIDENT PROJECT SOLUTIONS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
PROVIDENT PROJECT SOLUTIONS LIMITED
BALANCE SHEET
AS AT
30 JUNE 2021
30 June 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,036
1,380
Current assets
Debtors
4
149,958
167,901
Cash at bank and in hand
720
11,845
150,678
179,746
Creditors: amounts falling due within one year
5
(8,171)
(43,193)
Net current assets
142,507
136,553
Total assets less current liabilities
143,543
137,933
Provisions for liabilities
(9)
(12)
Net assets
143,534
137,921
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
143,434
137,821
Total equity
143,534
137,921
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 June 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
PROVIDENT PROJECT SOLUTIONS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2021
30 June 2021
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 22 March 2022 and are signed on its behalf by:
Mrs T S Barker
Director
Company Registration No. 07300238
PROVIDENT PROJECT SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2021
- 3 -
1
Accounting policies
Company information
Provident Project Solutions Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Little Garth, Wellands Road, Lyndhurst, Hampshire, SO43 7AD.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
33% straight line
Computers
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
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.
1.5
Financial instruments
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.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
PROVIDENT PROJECT SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2021
1
Accounting policies
(Continued)
- 4 -
Current tax
Current tax is recognised on taxable profit for the current and, where not previously recognised, 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
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
1
2
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 July 2020 and 30 June 2021
9,155
4,489
13,644
Depreciation and impairment
At 1 July 2020
7,775
4,489
12,264
Depreciation charged in the year
344
344
At 30 June 2021
8,119
4,489
12,608
Carrying amount
At 30 June 2021
1,036
1,036
At 30 June 2020
1,380
1,380
PROVIDENT PROJECT SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2021
- 5 -
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
5,460
Other debtors
149,958
162,441
149,958
167,901
5
Creditors: amounts falling due within one year
2021
2020
£
£
Taxation and social security
1,397
30,092
Other creditors
6,774
13,101
8,171
43,193
6
Directors' transactions
Description
% Rate
Opening balance
Amounts repaid
Closing balance
£
£
£
Loan
-
5,483
(5,767)
(284)
5,483
(5,767)
(284)