Registered number: 11738335
PROJECT ZERO OCEAN MOVEMENT LIMITED DIRECTOR'S REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
CIGMA ACCOUNTING LTD
Project Zero Ocean Movement Limited Director's Report and Unaudited Financial Statements For The Year Ended 31 December 2022
Contents
| Page | |
|---|---|
| Company Information | 1 |
| Director's Report | 2 |
| Income and Expenditure Account | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 5—6 |
| The following pages do not form part of the statutory accounts: | |
| Detailed Income and Expenditure Account | 7 |
Project Zero Ocean Movement Limited Company Information For The Year Ended 31 December 2022
| Director | Ms Michele CLARKE |
|---|---|
| Company Number | 11738335 |
| Registered Office | Office Number 107 |
| 165-167 The Broadway | |
| London | |
| SW19 1NE | |
| Accountants | CIGMA ACCOUNTING LTD |
| 107 Office Number | |
| 165-167 The Broadway | |
| Wimbledon London | |
| SW19 1NE |
Page 1
Project Zero Ocean Movement Limited Company No. 11738335 Director's Report For The Year Ended 31 December 2022
The director presents her report and the financial statements for the year ended 31 December 2022.
Directors
The director who held office during the year were as follows:
Ms Michele CLARKE
Statement of Director's Responsibilities
The director is responsible for preparing the Director's Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing the financial statements the director is required to:
- select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. She is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Date
Page 2
Project Zero Ocean Movement Limited Income and Expenditure Account For The Year Ended 31 December 2022
| Notes TURNOVER Cost of sales GROSS SURPLUS Administrative expenses Other operating income OPERATING SURPLUS/(DEFICIT) AND SURPLUS/(DEFICIT) BEFORE TAXATION Tax on Surplus/(deficit) SURPLUS/(DEFICIT) AFTER TAXATION BEING SURPLUS/(DEFICIT) FOR THE FINANCIAL YEAR |
2022 £ 258,273 (68,161) 190,112 (33,910) 116 156,318 (29,338) 126,980 |
2021 £ 439 - |
|---|---|---|
| 439 (2,348) - |
||
| (1,909) - |
||
| (1,909) |
The notes on pages 5 to 6 form part of these financial statements.
Page 3
Project Zero Ocean Movement Limited Balance Sheet As At 31 December 2022
| Notes CURRENT ASSETS Cash at bank and in hand Creditors: Amounts Falling Due Within One Year 4 NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES Creditors: Amounts Falling Due After More Than One Year 5 NET ASSETS Income and Expenditure Account MEMBERS' FUNDS |
2022 £ £ 146,730 146,730 (224,913) (78,183) (78,183) 431,969 353,786 353,786 353,786 |
2022 £ £ 146,730 146,730 (224,913) (78,183) (78,183) 431,969 353,786 353,786 353,786 |
2021 £ £ 464 464 (194,135) (193,671) (193,671) 420,477 226,806 226,806 226,806 |
2021 £ £ 464 464 (194,135) (193,671) (193,671) 420,477 226,806 226,806 226,806 |
|---|---|---|---|---|
| 146,730 (224,913) |
464 (194,135) |
|||
| (78,183) | (193,671) | |||
| 431,969 | 420,477 | |||
| 353,786 | 226,806 | |||
| 353,786 | 226,806 | |||
| 353,786 | 226,806 |
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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.
On behalf of the board
Date
The notes on pages 5 to 6 form part of these financial statements.
Page 4
Project Zero Ocean Movement Limited Notes to the Financial Statements For The Year Ended 31 December 2022
1. General Information
Project Zero Ocean Movement Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 11738335. The registered office is Office Number 107, 165-167 The Broadway, London, SW19 1NE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax (where applicable).
The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable surplus. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable surplus will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable surplus will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in surplus or deficit, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| Office and administration | 2022 1 1 |
2021 1 |
|---|---|---|
| 1 |
Page 5
Project Zero Ocean Movement Limited Notes to the Financial Statements (continued) For The Year Ended 31 December 2022
4. Creditors: Amounts Falling Due Within One Year
| . Creditors: Amounts Falling Due Within One Year |
||
|---|---|---|
| Corporation tax Outstanding Accounting Fee Accruals and deferred income . Creditors: Amounts Falling Due After More Than One Year Loan Account - We Are Project Zero Ltd |
2022 £ 29,338 3,600 191,975 224,913 2022 £ (431,969) (431,969) |
2021 £ - 2,160 191,975 |
| 194,135 | ||
| 2021 £ (420,477) |
||
| (420,477) |
5. Creditors: Amounts Falling Due After More Than One Year
6. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
Page 6
Project Zero Ocean Movement Limited Detailed Income and Expenditure Account For The Year Ended 31 December 2022
| TURNOVER Income COST OF SALES Event production expense GROSS SURPLUS Administrative Expenses Travel expenses Advertising and marketing costs Accountancy fees Subscriptions Bank charges Sundry expenses Conservation Grants Design Services Project Expense Other Operating Income Grants and subsidies received OPERATING SURPLUS/(DEFICIT) SURPLUS/(DEFICIT) BEFORE TAXATION Tax on Surplus/(deficit) Corporation tax charge SURPLUS/(DEFICIT) AFTER TAXATION BEING SURPLUS/(DEFICIT) FOR THE FINANCIAL YEAR |
2022 £ £ 258,273 68,161 (68,161) 190,112 5,167 4,797 1,440 1,410 1 84 10,000 2,191 8,820 (33,910) 116 116 156,318 156,318 29,338 (29,338) 126,980 |
2022 £ £ 258,273 68,161 (68,161) 190,112 5,167 4,797 1,440 1,410 1 84 10,000 2,191 8,820 (33,910) 116 116 156,318 156,318 29,338 (29,338) 126,980 |
2021 £ £ 439 - - 439 - - 2,160 28 160 - - - - (2,348) - - (1,909) (1,909) - - (1,909) |
2021 £ £ 439 - - 439 - - 2,160 28 160 - - - - (2,348) - - (1,909) (1,909) - - (1,909) |
|---|---|---|---|---|
| 5,167 4,797 1,440 1,410 1 84 10,000 2,191 8,820 |
- - 2,160 28 160 - - - - |
|||
| 190,112 (33,910) 116 |
439 (2,348) - |
|||
| 116 | - | |||
| 29,338 | - | |||
| 156,318 156,318 |
(1,909) (1,909) |
|||
| (29,338) | - | |||
| 126,980 | (1,909) |
Page 7