Project Design Innovation Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03654806 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2021

FOR

PROJECT DESIGN INNOVATION LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

T G Henson

C M Henson

SECRETARY:

C M Henson

REGISTERED OFFICE:

9 Stafford Street

Brewood

Stafford

Staffordshire

ST19 9DX

REGISTERED NUMBER:

03654806 (England and Wales)

ACCOUNTANTS:

Wright & Co Partnership Limited

Chartered Accountants

5 Walsall Street

Wednesbury

West Midlands

WS10 9BZ

BANKERS:

Lloyds TSB plc

PO Box 46

The Bridge

Walsall

West Midlands

WS1 1LU

FIXED ASSETS

Tangible assets

4

4,070

4,672

CURRENT ASSETS

Debtors

46,119

55,587

Cash at bank

265,003

413,973

311,122

469,560

CREDITORS

Amounts falling due within one year

68,547

134,268

NET CURRENT ASSETS

242,575

335,292

TOTAL ASSETS LESS CURRENT LIABILITIES

246,645

339,964

PROVISIONS FOR LIABILITIES

5

703

849

NET ASSETS

245,942

339,115

CAPITAL AND RESERVES

Called up share capital

42

42

Retained earnings

245,900

339,073

SHAREHOLDERS' FUNDS

245,942

339,115

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2021 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 2021 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 May 2021 and were signed on its behalf by:

T G Henson - Director

1.	STATUTORY INFORMATION

Project Design Innovation 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

-

10% on reducing balance

Computer equipment

-

25% on reducing balance

Taxation

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 February 2020

and 31 January 2021

33,335

DEPRECIATION

At 1 February 2020

28,663

Charge for year

602

At 31 January 2021

29,265

NET BOOK VALUE

At 31 January 2021

4,070

At 31 January 2020

4,672

5.	PROVISIONS FOR LIABILITIES

2021

2020

£

£

Deferred tax

703

849

Deferred

tax

£

Balance at 1 February 2020

849

Accelerated capital allowances

(146

)

Balance at 31 January 2021

703