Project Planning Professionals Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05021644 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2020

FOR

PROJECT PLANNING PROFESSIONALS LIMITED

Page

Company Information

1

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mr J Williams

Mrs J Williams

Mr T D`Orgee

SECRETARY:

Mrs J Williams

REGISTERED OFFICE:

12 Victoria Road

Barnsley

South Yorkshire

S70 2BB

BUSINESS ADDRESS:

61 Hartfield Road

Chessington

Surrey

KT9 2PP

REGISTERED NUMBER:

05021644 (England and Wales)

ACCOUNTANTS:

Gibson Booth Limited

12 Victoria Road

Barnsley

South Yorkshire

S70 2BB

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

4,216

1,376

4,216

1,376

CURRENT ASSETS

Debtors

6

19,604

25,512

Cash at bank

5,513

-

25,117

25,512

CREDITORS

Amounts falling due within one year

7

27,776

20,703

NET CURRENT (LIABILITIES)/ASSETS

(2,659

)

4,809

TOTAL ASSETS LESS CURRENT LIABILITIES

1,557

6,185

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

1,457

6,085

SHAREHOLDERS' FUNDS

1,557

6,185

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 and authorised for issue by the Board of Directors and authorised for issue on 26 February 2021 and were signed on its behalf by:

Mr J Williams - Director

1.	STATUTORY INFORMATION

Project Planning Professionals 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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.

Going concern

The financial statements have been prepared on a going concern basis. At the time of approval, the UK economy was subject to the impact of the coronavirus pandemic outbreak. Projections and forecasts have been prepared based on a number of underlying assumptions, which are subject to significant uncertainty at this time. These show that the expected income and expenditure, together with current reserves allows the company to continue as a going concern.

Significant judgements and estimates

No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

When the outcome of a transaction can be estimated reliably, turnover from maintaining and running a website is recognised by reference to the stage of completion at the balance sheet date.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Domain name - 20% straight line

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Fixtures and fittings

33% on cost

Equipment

33% on cost

Pension costs

The company makes employer contributions to the directors personal pension scheme. The annual contributions payable are charged to the profit and loss account

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Domain

name

£

COST

At 1 February 2019

and 31 January 2020

7,046

AMORTISATION

At 1 February 2019

and 31 January 2020

7,046

NET BOOK VALUE

At 31 January 2020

-

At 31 January 2019

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

Equipment

Totals

£

£

£

COST

At 1 February 2019

22,265

8,695

30,960

Additions

1,137

3,027

4,164

Disposals

(271

)

-

(271

)

At 31 January 2020

23,131

11,722

34,853

DEPRECIATION

At 1 February 2019

21,466

8,118

29,584

Charge for year

602

722

1,324

Eliminated on disposal

(271

)

-

(271

)

At 31 January 2020

21,797

8,840

30,637

NET BOOK VALUE

At 31 January 2020

1,334

2,882

4,216

At 31 January 2019

799

577

1,376

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Trade debtors

500

20,538

Other debtors

1,759

-

Directors' current accounts

15,595

4,024

Prepayments and accrued income

1,750

950

19,604

25,512

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.20

31.1.19

£

£

Bank loans and overdrafts

-

5,790

Trade creditors

2,358

-

Corporation tax

12,267

3,429

Social security and other taxes

33

8

VAT

4,250

324

Other creditors

3,933

2,101

Accruals and deferred income

4,935

9,051

27,776

20,703

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.20

31.1.19

value:

£

£

100

Ordinary

£1

100

100

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2020 and 31 January 2019:

31.1.20

31.1.19

£

£

Mr J Williams and Mrs J Williams

Balance outstanding at start of year

4,024

4,694

Amounts advanced

16,446

5,041

Amounts repaid

(4,875

)

(5,711

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

15,595

4,024

10.	POST BALANCE SHEET EVENTS

The directors have considered the global pandemic in producing these financial statements. Any impacts of the pandemic on this company is considered by the directors to be a non-adjusting event for these financial statements.

Turnover was affected considerably by the coronavirus pandemic due to customers cutting back on their expenditure. Additional funding was obtained as the company was successful in its application for a Coronavirus Interruption loan.

In September 2020 monthly income started to get back to similar levels that it was pre covid 19 and the directors believe that this will continue moving forwards with several potential income streams in the pipeline. Projections and forecasts have been prepared based on a number of underlying assumptions, which are subject to significant uncertainty at this time. These show that the expected income and expenditure, together with current reserves and the the obtaining of additional funding allows the company to continue as a going concern.