Company Registration No. 12020276 (England and Wales)
PROMAX VENTURES LIMITED
Unaudited accounts
for the year ended 31 March 2023
PROMAX VENTURES LIMITED
Unaudited accounts
Contents
PROMAX VENTURES LIMITED
Company Information
for the year ended 31 March 2023
Company Number
12020276 (England and Wales)
Registered Office
136A VICARAGE ROAD
LONDON
E10 5DX
ENGLAND
Accountants
Croydon Accountants
Public Certified Accountants
Challenge House
616 Mitcham Road
Surrey
CR0 3AA
PROMAX VENTURES LIMITED
Statement of financial position
as at 31 March 2023
Tangible assets
96,849
96,970
Cash at bank and in hand
1,189
9,133
Creditors: amounts falling due within one year
(43,726)
(66,942)
Net current liabilities
(39,997)
(39,358)
Total assets less current liabilities
56,852
57,612
Creditors: amounts falling due after more than one year
(44,014)
(47,190)
Called up share capital
10,000
10,000
Profit and loss account
2,838
422
Shareholders' funds
12,838
10,422
For the 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. 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 and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 September 2023 and were signed on its behalf by
Imran NAWAZ
Director
Company Registration No. 12020276
PROMAX VENTURES LIMITED
Notes to the Accounts
for the year ended 31 March 2023
PROMAX VENTURES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 12020276. The registered office is 136A VICARAGE ROAD, LONDON, E10 5DX, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 April 2022
96,331
950
97,281
At 31 March 2023
96,331
950
97,281
Charge for the year
-
121
121
At 31 March 2023
-
432
432
At 31 March 2023
96,331
518
96,849
At 31 March 2022
96,331
639
96,970
Amounts falling due within one year
Other debtors
2,540
18,451
PROMAX VENTURES LIMITED
Notes to the Accounts
for the year ended 31 March 2023
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
595
1,783
Loans from directors
42,231
64,359
7
Creditors: amounts falling due after more than one year
2023
2022
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).