Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-312022-06-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05804147 2022-06-01 2023-05-31 05804147 2021-06-01 2022-05-31 05804147 2023-05-31 05804147 2022-05-31 05804147 2021-06-01 05804147 1 2022-06-01 2023-05-31 05804147 d:Director1 2022-06-01 2023-05-31 05804147 e:Buildings e:LongLeaseholdAssets 2022-06-01 2023-05-31 05804147 e:Buildings e:ShortLeaseholdAssets 2022-06-01 2023-05-31 05804147 e:Buildings e:ShortLeaseholdAssets 2023-05-31 05804147 e:Buildings e:ShortLeaseholdAssets 2022-05-31 05804147 e:FurnitureFittings 2022-06-01 2023-05-31 05804147 e:ComputerEquipment 2022-06-01 2023-05-31 05804147 e:OtherPropertyPlantEquipment 2022-06-01 2023-05-31 05804147 e:OtherPropertyPlantEquipment 2023-05-31 05804147 e:OtherPropertyPlantEquipment 2022-05-31 05804147 e:OtherPropertyPlantEquipment e:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 05804147 e:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 05804147 e:CurrentFinancialInstruments 2023-05-31 05804147 e:CurrentFinancialInstruments 2022-05-31 05804147 e:CurrentFinancialInstruments e:WithinOneYear 2023-05-31 05804147 e:CurrentFinancialInstruments e:WithinOneYear 2022-05-31 05804147 e:ShareCapital 2023-05-31 05804147 e:ShareCapital 2022-05-31 05804147 e:ShareCapital 2021-06-01 05804147 e:CapitalRedemptionReserve 2023-05-31 05804147 e:CapitalRedemptionReserve 1 2022-06-01 2023-05-31 05804147 e:CapitalRedemptionReserve 2022-05-31 05804147 e:CapitalRedemptionReserve 2021-06-01 05804147 e:RetainedEarningsAccumulatedLosses 2022-06-01 2023-05-31 05804147 e:RetainedEarningsAccumulatedLosses 2023-05-31 05804147 e:RetainedEarningsAccumulatedLosses 1 2022-06-01 2023-05-31 05804147 e:RetainedEarningsAccumulatedLosses 2021-06-01 2022-05-31 05804147 e:RetainedEarningsAccumulatedLosses 2022-05-31 05804147 e:RetainedEarningsAccumulatedLosses 2021-06-01 05804147 d:FRS102 2022-06-01 2023-05-31 05804147 d:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 05804147 d:FullAccounts 2022-06-01 2023-05-31 05804147 d:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 05804147 2 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

05804147







PRO4 SOLUTIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED
31 MAY 2023































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PRO4 SOLUTIONS LIMITED
REGISTERED NUMBER:05804147

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,472
2,264

Current assets
  

Debtors: amounts falling due within one year
 5 
623,914
819,232

Bank and cash balances
  
247,679
520,759

  
871,593
1,339,991

Creditors: amounts falling due within one year
 6 
(271,848)
(473,191)

Net current assets
  
 
 
599,745
 
 
866,800

Net assets
  
602,217
869,064


Capital and reserves
  

Called up share capital 
  
35
70

Capital redemption reserve
  
65
30

Profit And Loss Account
  
602,117
868,964

  
602,217
869,064


Page 1

PRO4 SOLUTIONS LIMITED
REGISTERED NUMBER:05804147
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




R. Taylor
Director

Date: 10 October 2023

The notes on pages 4 to 9 form part of these financial statements.

Page 2

PRO4 SOLUTIONS LIMITED

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2023


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£


At 1 June 2021
70
30
653,066
653,166


Changes in equity

Profit for the year
-
-
425,898
425,898

Dividends
-
-
(210,000)
(210,000)



At 1 June 2022
70
30
868,964
869,064


Changes in equity

Profit for the year
-
-
222,939
222,939

Cancellation of own shares
(35)
35
-
-

Dividends
-
-
(195,000)
(195,000)

Purchase of own shares
-
-
(294,786)
(294,786)


At 31 May 2023
35
65
602,117
602,217


The notes on pages 4 to 9 form part of these financial statements.

Page 3

PRO4 SOLUTIONS LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

Pro4 Solutions Limited ("the Company") is a limited company domiciled and incorporated in England.
The address of the Company's registered office and principal place of business is 100 Longwater Avenue, Green Park, Reading, RG2 6GP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

Monetary amounts in these financial statements are stated in pounds sterling and are rounded to the nearest whole £1, except where otherwise indicated.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.
Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed.

Page 4

PRO4 SOLUTIONS LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. 

Depreciation is provided on the following basis:

Long-term leasehold property improvements
-
33%
straight line
Fixtures, fittings and equipment
-
25%
reducing balance
Computer equipment
-
33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.7

Creditors

Short-term creditors are measured at the transaction price.

  
2.8

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the Balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the Balance sheet date.

Page 5

PRO4 SOLUTIONS LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.9

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. 
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.10

 Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.11

 Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.12

 Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 6

PRO4 SOLUTIONS LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.13

 Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.14

 Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.15

 Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.16

 Current and deferred taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 7

PRO4 SOLUTIONS LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

4.


Tangible fixed assets





Land and buildings
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 June 2022
22,380
31,485
53,865


Additions
-
1,199
1,199


Disposals
-
(1,127)
(1,127)



At 31 May 2023

22,380
31,557
53,937



Depreciation


At 1 June 2022
22,380
29,221
51,601


Charge for the year on owned assets
-
991
991


Disposals
-
(1,127)
(1,127)



At 31 May 2023

22,380
29,085
51,465



Net book value



At 31 May 2023
-
2,472
2,472



At 31 May 2022
-
2,264
2,264

Page 8

PRO4 SOLUTIONS LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

5.


Debtors

2023
2022
£
£


Trade debtors
206,634
325,413

Amounts owed by connected companies
304,085
330,766

Other debtors
-
14

Prepayments and accrued income
113,195
163,039

623,914
819,232



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
-
55,556

Trade creditors
65,541
108,343

Corporation tax
59,017
100,044

Other taxation and social security
14,266
25,374

Other creditors
20,840
35,853

Accruals and deferred income
112,184
148,021

271,848
473,191


Within Other creditors is £19,996 (2022: £34,977) owed to the director (2022: the directors).

 
Page 9