Project Accelerate Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08814081 (England and Wales)

Project Accelerate Limited

Unaudited Financial Statements

for the Year Ended 30 November 2019

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

5

DIRECTOR:

A D Savory

REGISTERED OFFICE:

8a Wingbury Courtyard

Business Village

Leighton Road

Wingrave

Buckinghamshire

HP22 4LW

REGISTERED NUMBER:

08814081 (England and Wales)

ACCOUNTANTS:

Clarkson Cleaver & Bowes Ltd

8a Wingbury Courtyard

Business Village

Wingrave

Buckinghamshire

HP22 4LW

FIXED ASSETS

Tangible assets

4

775

1,008

CURRENT ASSETS

Debtors

5

6,000

3,680

Cash at bank

61,962

62,671

67,962

66,351

CREDITORS

Amounts falling due within one year

6

15,840

22,914

NET CURRENT ASSETS

52,122

43,437

TOTAL ASSETS LESS CURRENT LIABILITIES

52,897

44,445

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

52,896

44,444

SHAREHOLDERS' FUNDS

52,897

44,445

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2019 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 June 2020 and were signed by:

A D Savory - Director

1.	STATUTORY INFORMATION

Project Accelerate Limited 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.

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.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

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

Fixtures and fittings

-

25% reducing balance

Computer equipment

-

33.33% straight line

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the

Income Statement.

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 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 and that are expected to apply to

the reversal of the timing difference.

Current or deferred taxation assets and liabilities are not discounted.

Pension costs and other post-retirement benefits

The pension costs charged in the financial statements represent the contributions

payable by the company for the year.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - 1 ).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 December 2018

529

3,766

4,295

Additions

-

257

257

At 30 November 2019

529

4,023

4,552

DEPRECIATION

At 1 December 2018

132

3,155

3,287

Charge for year

99

391

490

At 30 November 2019

231

3,546

3,777

NET BOOK VALUE

At 30 November 2019

298

477

775

At 30 November 2018

397

611

1,008

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

-

3,261

Other debtors

6,000

419

6,000

3,680

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Taxation and social security

15,331

22,470

Other creditors

509

444

15,840

22,914