Project Energy Ltd - Period Ending 2015-01-31

Registration number: 06804793

Project Energy Ltd

Unaudited Abbreviated Accounts

31 January 2015
 

Project Energy Ltd
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Project Energy Ltd
abbreviated balance sheet
31 January 2015

		Note			2015						2014 £
	£			£
Fixed assets
Tangible fixed assets								1,202			1,352
Current assets
Debtors					39,135						19,930
Cash at bank and in hand					2,459						6,940
					41,594						26,870
Creditors: Amounts falling due within one year					(30,767)						(18,326)
Net current assets								10,827			8,544
Total assets less current liabilities								12,029			9,896
Provisions for liabilities								(240)			(271)
Net assets								11,789			9,625
Capital and reserves
Called up share capital		3			1						1
Profit and loss account					11,788						9,624
Shareholders' funds								11,789			9,625

The notes on pages 3 to 4 form an integral part of these financial statements.
1

Project Energy Ltd
abbreviated balance sheet ......... continued
31 January 2015

For the year ending 31 January 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the director on 28 October 2015

.........................................
Mr A R Chicken
Director

Company Registration Number: 06804793

The notes on pages 3 to 4 form an integral part of these financial statements.
2

Project Energy Ltd
Notes to the Abbreviated Accounts
Year Ended 31 January 2015

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention.

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Equipment	25% straight line

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by FRS19. Deferred tax assets are recognised only to the extent that the director considers it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

3

Project Energy Ltd
Notes to the Abbreviated Accounts
Year Ended 31 January 2015

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 February 2014		1,904			1,904
Additions		314			314
At 31 January 2015		2,218			2,218
Depreciation
At 1 February 2014		552			552
Charge for the year		464			464
At 31 January 2015		1,016			1,016
Net book value
At 31 January 2015		1,202			1,202
At 31 January 2014		1,352			1,352

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary share of £1 each		1			1			1			1

4