IRIS Accounts Production v22.2.0.402 10027510 director 1.3.21 28.2.22 28.2.22 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure100275102021-02-28100275102022-02-28100275102021-03-012022-02-28100275102020-02-29100275102020-03-012021-02-28100275102021-02-2810027510ns16:EnglandWales2021-03-012022-02-2810027510ns15:PoundSterling2021-03-012022-02-2810027510ns11:Director12021-03-012022-02-2810027510ns11:PrivateLimitedCompanyLtd2021-03-012022-02-2810027510ns11:SmallEntities2021-03-012022-02-2810027510ns11:AuditExempt-NoAccountantsReport2021-03-012022-02-2810027510ns11:SmallCompaniesRegimeForDirectorsReport2021-03-012022-02-2810027510ns11:SmallCompaniesRegimeForAccounts2021-03-012022-02-2810027510ns11:FullAccounts2021-03-012022-02-2810027510ns11:OrdinaryShareClass12021-03-012022-02-2810027510ns11:RegisteredOffice2021-03-012022-02-2810027510ns6:CurrentFinancialInstruments2022-02-2810027510ns6:CurrentFinancialInstruments2021-02-2810027510ns6:Non-currentFinancialInstruments2022-02-2810027510ns6:Non-currentFinancialInstruments2021-02-2810027510ns6:ShareCapital2022-02-2810027510ns6:ShareCapital2021-02-2810027510ns6:RetainedEarningsAccumulatedLosses2022-02-2810027510ns6:RetainedEarningsAccumulatedLosses2021-02-2810027510ns6:ComputerEquipment2021-03-012022-02-2810027510ns6:ComputerEquipment2021-02-2810027510ns6:ComputerEquipment2022-02-2810027510ns6:ComputerEquipment2021-02-2810027510ns6:WithinOneYearns6:CurrentFinancialInstruments2022-02-2810027510ns6:WithinOneYearns6:CurrentFinancialInstruments2021-02-2810027510ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2022-02-2810027510ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2021-02-2810027510ns11:OrdinaryShareClass12022-02-2810027510ns6:RetainedEarningsAccumulatedLosses2021-02-2810027510ns6:RetainedEarningsAccumulatedLosses2021-03-012022-02-28
REGISTERED NUMBER: 10027510 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2022

for

Proves Ltd

Proves Ltd (Registered number: 10027510)






Contents of the Financial Statements
for the Year Ended 28 February 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Proves Ltd

Company Information
for the Year Ended 28 February 2022







DIRECTOR: Mr V P Angelov





REGISTERED OFFICE: 55 Wigston Road
London
E13 8QN





REGISTERED NUMBER: 10027510 (England and Wales)





ACCOUNTANTS: E Johnson & Associates
Chartered Certified Accountants
637 Green Lanes
London
N8 0RE

Proves Ltd (Registered number: 10027510)

Balance Sheet
28 February 2022

28.2.22 28.2.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,081 1,826

CURRENT ASSETS
Debtors 5 14,617 8,186
Cash at bank 17,005 6,648
31,622 14,834
CREDITORS
Amounts falling due within one
year

6

10,163

6,529
NET CURRENT ASSETS 21,459 8,305
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,540

10,131

CREDITORS
Amounts falling due after more
than one year

7

11,082

-
NET ASSETS 12,458 10,131

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 12,358 10,031
SHAREHOLDERS' FUNDS 12,458 10,131

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 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.

Proves Ltd (Registered number: 10027510)

Balance Sheet - continued
28 February 2022


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 27 July 2022 and were signed by:





Mr V P Angelov - Director


Proves Ltd (Registered number: 10027510)

Notes to the Financial Statements
for the Year Ended 28 February 2022

1. STATUTORY INFORMATION

Proves Ltd 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.
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

Proves Ltd (Registered number: 10027510)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2022

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 March 2021 3,302
Additions 949
At 28 February 2022 4,251
DEPRECIATION
At 1 March 2021 1,476
Charge for year 694
At 28 February 2022 2,170
NET BOOK VALUE
At 28 February 2022 2,081
At 28 February 2021 1,826

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.22 28.2.21
£    £   
Trade debtors 1,919 486
Tax recoverable 12,698 7,700
14,617 8,186

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.22 28.2.21
£    £   
Trade creditors 5,813 605
Corporation tax 1,190 1,665
Wages control account 2,397 2,332
Directors' current accounts 283 1,303
Accrued expenses 480 624
10,163 6,529

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.22 28.2.21
£    £   
Bank loans - 1-2 years 11,082 -

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 28.2.22 28.2.21
value: £    £   
100 Ordinary £1 100 100

Proves Ltd (Registered number: 10027510)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2022

9. RESERVES
Retained
earnings
£   

At 1 March 2021 10,031
Profit for the year 5,327
Dividends (3,000 )
At 28 February 2022 12,358

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £4,000 were paid to the director .

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr V P Angelov.

By virtue of being the sole director of the company and controls 100% of the ordinary share capital of the company.