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REGISTERED NUMBER: 07464445 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31st July 2023

for

Proqual AB Limited

Proqual AB Limited (Registered number: 07464445)






Contents of the Financial Statements
for the year ended 31st July 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Proqual AB Limited

Company Information
for the year ended 31st July 2023







DIRECTORS: Mrs J L Grant
G J Grant
M J Hewitt



REGISTERED OFFICE: Proqual House
Unit 1 Innovation Drive
Green Park Road
Newport
East Yorkshire
HU15 2GX



REGISTERED NUMBER: 07464445 (England and Wales)



ACCOUNTANTS: Sadofskys
Chartered Accountants
Princes House
Wright Street
Hull
East Yorkshire
HU2 8HX



BANKERS: Barclays Bank plc
Humber & Lincolnshire Team
4th Floor
2 Humber Quays
Hull
HU1 2BN

Proqual AB Limited (Registered number: 07464445)

Abridged Balance Sheet
31st July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,000,000 1,200,000
Tangible assets 5 93,817 106,757
1,093,817 1,306,757

CURRENT ASSETS
Debtors 1,454,100 1,171,333
Cash at bank 1,140,182 800,174
2,594,282 1,971,507
CREDITORS
Amounts falling due within one year 56,472 290,815
NET CURRENT ASSETS 2,537,810 1,680,692
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,631,627

2,987,449

CREDITORS
Amounts falling due after more than one year - (336 )

PROVISIONS FOR LIABILITIES (23,454 ) (26,689 )
NET ASSETS 3,608,173 2,960,424

CAPITAL AND RESERVES
Called up share capital 6 2 2
Retained earnings 3,608,171 2,960,422
SHAREHOLDERS' FUNDS 3,608,173 2,960,424

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Proqual AB Limited (Registered number: 07464445)

Abridged Balance Sheet - continued
31st July 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st July 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24th January 2024 and were signed on its behalf by:





Mrs J L Grant - Director


Proqual AB Limited (Registered number: 07464445)

Notes to the Financial Statements
for the year ended 31st July 2023

1. STATUTORY INFORMATION

Proqual AB Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 16.67% 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Proqual AB Limited (Registered number: 07464445)

Notes to the Financial Statements - continued
for the year ended 31st July 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st August 2022
and 31st July 2023 2,000,000
AMORTISATION
At 1st August 2022 800,000
Amortisation for year 200,000
At 31st July 2023 1,000,000
NET BOOK VALUE

At 31st July 2023 1,000,000
At 31st July 2022 1,200,000

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st August 2022 179,882
Additions 5,250
At 31st July 2023 185,132
DEPRECIATION
At 1st August 2022 73,125
Charge for year 18,190
At 31st July 2023 91,315
NET BOOK VALUE
At 31st July 2023 93,817
At 31st July 2022 106,757

Proqual AB Limited (Registered number: 07464445)

Notes to the Financial Statements - continued
for the year ended 31st July 2023

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Proqual AB Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Proqual AB Limited for the year ended 31st July 2023 which comprise the Statement of Comprehensive Income, Abridged Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Proqual AB Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Proqual AB Limited and state those matters that we have agreed to state to the Board of Directors of Proqual AB Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Proqual AB Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Proqual AB Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Proqual AB Limited. You consider that Proqual AB Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Proqual AB Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Sadofskys
Chartered Accountants
Princes House
Wright Street
Hull
East Yorkshire
HU2 8HX


24th January 2024