Prochaine Co Ltd 12007589 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is retail sale via mail order houses or via Internet Digita Accounts Production Advanced 6.30.9574.0 true true 12007589 2022-04-01 2023-03-31 12007589 2023-03-31 12007589 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-03-31 12007589 core:RetainedEarningsAccumulatedLosses 2023-03-31 12007589 core:ShareCapital 2023-03-31 12007589 core:CurrentFinancialInstruments 2023-03-31 12007589 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 12007589 core:FurnitureFittingsToolsEquipment 2023-03-31 12007589 bus:SmallEntities 2022-04-01 2023-03-31 12007589 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 12007589 bus:FullAccounts 2022-04-01 2023-03-31 12007589 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 12007589 bus:RegisteredOffice 2022-04-01 2023-03-31 12007589 bus:Director3 2022-04-01 2023-03-31 12007589 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2022-04-01 2023-03-31 12007589 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 12007589 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 12007589 core:OfficeEquipment 2022-04-01 2023-03-31 12007589 countries:EnglandWales 2022-04-01 2023-03-31 12007589 2022-03-31 12007589 core:FurnitureFittingsToolsEquipment 2022-03-31 12007589 2021-01-01 2022-03-31 12007589 2022-03-31 12007589 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2022-03-31 12007589 core:RetainedEarningsAccumulatedLosses 2022-03-31 12007589 core:ShareCapital 2022-03-31 12007589 core:CurrentFinancialInstruments 2022-03-31 12007589 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 12007589 core:FurnitureFittingsToolsEquipment 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12007589

Prochaine Co Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Prochaine Co Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Prochaine Co Ltd

Company Information

Director

Miss Katy Watson

Registered office

5 Cherry Holt Lane
East Bridgford
Nottingham
Nottinghamshire
NG13 8PN

Accountants

The Moffatts Partnership LLP
Suite 1.1, First Floor
Jackson House
Sibson Road
Sale
M33 7RR

 

Prochaine Co Ltd

(Registration number: 12007589)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,583

1,945

Current assets

 

Stocks

5

9,475

89,360

Debtors

6

30,488

6,502

Cash at bank and in hand

 

14,430

1,174

 

54,393

97,036

Creditors: Amounts falling due within one year

7

(112,675)

(101,225)

Net current liabilities

 

(58,282)

(4,189)

Net liabilities

 

(56,699)

(2,244)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(56,799)

(2,344)

Shareholders' deficit

 

(56,699)

(2,244)

 

Prochaine Co Ltd

(Registration number: 12007589)
Balance Sheet as at 31 March 2023

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 3 October 2023
 

.........................................
Miss Katy Watson
Director

   
     
 

Prochaine Co Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
5 Cherry Holt Lane
East Bridgford
Nottingham
Nottinghamshire
NG13 8PN
United Kingdom

These financial statements were authorised for issue by the director on 3 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis on preparing its financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Prochaine Co Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Government grants

Government grants are recognised under the accrual model. Income is recognised in the same period that the related expenditure the grant is intended to compensate is incurred.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

Reducing Balance 25%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Prochaine Co Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 2).

 

Prochaine Co Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

2,641

2,641

Additions

156

156

At 31 March 2023

2,797

2,797

Depreciation

At 1 April 2022

696

696

Charge for the year

518

518

At 31 March 2023

1,214

1,214

Carrying amount

At 31 March 2023

1,583

1,583

At 31 March 2022

1,945

1,945

5

Stocks

2023
£

2022
£

Other inventories

9,475

89,360

6

Debtors

2023
£

2022
£

Trade debtors

26,118

-

Other debtors

-

2,132

Prepayments

4,370

4,370

30,488

6,502

 

Prochaine Co Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

7

Creditors

2023
£

2022
£

Due within one year

Trade creditors

9,965

10,792

Taxation and social security

2,455

-

Accruals and deferred income

1,500

975

Other creditors

98,755

89,458

112,675

101,225

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100