Registered number
04951057
Proactive - Networking Limited
Unaudited Filleted Accounts
30 November 2022
Proactive - Networking Limited
Registered number: 04951057
Balance Sheet
as at 30 November 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 4,429 4,920
Current assets
Stocks 3,000 1,463
Debtors 4 48,798 29,655
Cash at bank and in hand 88,876 21,794
140,674 52,912
Creditors: amounts falling due within one year 5 (58,595) (18,388)
Net current assets 82,079 34,524
Total assets less current liabilities 86,508 39,444
Creditors: amounts falling due after more than one year 6 (26,444) (34,000)
Net assets 60,064 5,444
Capital and reserves
Called up share capital 8 10 2
Profit and loss account 60,054 5,442
Shareholder's funds 60,064 5,444
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G Brandon
Director
Approved by the board on 21 November 2023
Proactive - Networking Limited
Notes to the Accounts
for the year ended 30 November 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2021 9,113
Additions 291
At 30 November 2022 9,404
Depreciation
At 1 December 2021 4,193
Charge for the year 782
At 30 November 2022 4,975
Net book value
At 30 November 2022 4,429
At 30 November 2021 4,920
4 Debtors 2022 2021
£ £
Trade debtors 48,615 22,162
Other debtors 183 7,493
48,798 29,655
5 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 3,778 500
Trade creditors 17,720 8,419
Taxation and social security costs 26,592 4,050
Other creditors 10,505 5,419
58,595 18,388
6 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 26,444 34,000
7 Loans 2022 2021
£ £
Creditors include:
Instalments falling due for payment after more than five years 11,333 15,111
8 Share capital 2022 2021
£ £
Ordinary shares 8 2
A Ordinary shares 1 -
B Ordinary shares 1 -
At 30 November 2022 10 2
During the year 6 ordinary shares, 1 A ordinary share and 1 B Ordinary share were issued.
9 Other information
Proactive - Networking Limited is a private company limited by shares and incorporated in England. Its registered office is:
142 Station Road
Chingford
London
E4 6AN
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