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Company Registration No. 6247168 (England and Wales)
Propeller Research Limited Unaudited accounts for the year ended 31 May 2023
Propeller Research Limited Unaudited accounts Contents
Page
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Propeller Research Limited Company Information for the year ended 31 May 2023
Director
Stuart Bolitho
Company Number
6247168 (England and Wales)
Registered Office
33 Baddeley Close STEVENAGE SG2 9SL
Accountants
Tarrens Accountants Limited 11 Wheatsheaf Close Ripon HG4 2SH
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Propeller Research Limited Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
401 
- 
Current assets
Inventories
8,000 
9,110 
Debtors
28,520 
16,192 
Cash at bank and in hand
10,374 
30,141 
46,894 
55,443 
Creditors: amounts falling due within one year
(16,655)
(14,255)
Net current assets
30,239 
41,188 
Net assets
30,640 
41,188 
Capital and reserves
Called up share capital
700 
700 
Capital redemption reserve
350 
350 
Profit and loss account
29,590 
40,138 
Shareholders' funds
30,640 
41,188 
For the year ending 31 May 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 31 January 2024 and were signed on its behalf by
Stuart Bolitho Director Company Registration No. 6247168
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Propeller Research Limited Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
Propeller Research Limited is a private company, limited by shares, registered in England and Wales, registration number 6247168. The registered office is 33 Baddeley Close , STEVENAGE, SG2 9SL.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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:
Fixtures & fittings
20% reducing balance
Computer equipment
33% straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 June 2022
80 
1,267 
1,347 
Additions
- 
598 
598 
Disposals
- 
(585)
(585)
At 31 May 2023
80 
1,280 
1,360 
Depreciation
At 1 June 2022
80 
1,267 
1,347 
Charge for the year
- 
197 
197 
On disposals
- 
(585)
(585)
At 31 May 2023
80 
879 
959 
Net book value
At 31 May 2023
- 
401 
401 
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Propeller Research Limited Notes to the Accounts for the year ended 31 May 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
28,520 
16,192 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
5,748 
3,983 
Taxes and social security
54 
54 
Other creditors
3,176 
3,171 
Loans from directors
7,677 
7,047 
16,655 
14,255 
7
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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