1 January 2023 false No description of principal activity Taxfiler 2023.10 14264902business:PrivateLimitedCompanyLtd2023-01-012023-12-31 142649022022-12-31 142649022023-01-012023-12-31 14264902business:AuditExempt-NoAccountantsReport2023-01-012023-12-31 14264902business:FilletedAccounts2023-01-012023-12-31 142649022023-12-31 14264902business:Director12023-01-012023-12-31 14264902business:Director22023-01-012023-12-31 14264902business:RegisteredOffice2023-01-012023-12-31 142649022022-12-31 14264902core:WithinOneYear2023-12-31 14264902core:WithinOneYear2022-12-31 14264902core:AfterOneYear2023-12-31 14264902core:AfterOneYear2022-12-31 14264902core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 14264902core:ShareCapitalcore:PreviouslyStatedAmount2022-12-31 14264902core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 14264902core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-12-31 14264902core:PreviouslyStatedAmount2023-12-31 14264902core:PreviouslyStatedAmount2022-12-31 14264902business:SmallEntities2023-01-012023-12-31 14264902countries:EnglandWales2023-01-012023-12-31 14264902core:ComputerEquipment2023-01-012023-12-31 14264902core:Goodwill2022-12-31 14264902core:Goodwill2023-01-012023-12-31 14264902core:Goodwill2023-12-31 14264902core:ComputerEquipment2022-12-31 14264902core:ComputerEquipment2023-12-31 142649022022-07-292022-12-31 iso4217:GBP xbrli:pure
Company Registration No. 14264902 (England and Wales)
Proquo Ai International Limited Unaudited accounts for the year ended 31 December 2023
Proquo Ai International Limited Unaudited accounts Contents
Page
- 2 -
Proquo Ai International Limited Company Information for the year ended 31 December 2023
Directors
Edward Barroll Brown Thomas Frederick Richard Morrell
Company Number
14264902 (England and Wales)
Registered Office
Michelin House 81 Fulham Road London SW3 6RD United Kingdom
- 3 -
Proquo Ai International Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
498,521 
535,482 
Tangible assets
- 
29,170 
498,521 
564,652 
Current assets
Debtors
164,250 
578,223 
Cash at bank and in hand
50,529 
89,593 
214,779 
667,816 
Creditors: amounts falling due within one year
(756,572)
(636,670)
Net current (liabilities)/assets
(541,793)
31,146 
Total assets less current liabilities
(43,272)
595,798 
Creditors: amounts falling due after more than one year
(4,869,428)
(3,598,909)
Provisions for liabilities
Other provisions
(350,000)
(563,908)
Net liabilities
(5,262,700)
(3,567,019)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(5,262,701)
(3,567,020)
Shareholders' funds
(5,262,700)
(3,567,019)
For the year ending 31 December 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 directors acknowledge their 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 of Directors and authorised for issue on 20 February 2024 and were signed on its behalf by
Thomas Frederick Richard Morrell Director Company Registration No. 14264902
- 4 -
Proquo Ai International Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Proquo Ai International Limited is a private company, limited by shares, registered in England and Wales, registration number 14264902. The registered office is Michelin House 81 Fulham Road, , London, SW3 6RD, United Kingdom.
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.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost. The cost is amortised over 10 years
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:
Computer equipment
3 years
- 5 -
Proquo Ai International Limited Notes to the Accounts for the year ended 31 December 2023
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 January 2023
559,183 
Additions
21,686 
At 31 December 2023
580,869 
Amortisation
At 1 January 2023
23,701 
Charge for the year
58,647 
At 31 December 2023
82,348 
Net book value
At 31 December 2023
498,521 
At 31 December 2022
535,482 
5
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 January 2023
49,291 
At 31 December 2023
49,291 
Depreciation
At 1 January 2023
20,121 
Charge for the year
29,170 
At 31 December 2023
49,291 
Net book value
At 31 December 2023
- 
At 31 December 2022
29,170 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
55 
171,814 
Trade debtors
103,922 
222,041 
Accrued income and prepayments
60,273 
166,122 
Other debtors
- 
18,246 
164,250 
578,223 
- 6 -
Proquo Ai International Limited Notes to the Accounts for the year ended 31 December 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
86,595 
116,271 
Amounts owed to group undertakings and other participating interests
480,000 
- 
Taxes and social security
31,743 
78,552 
Other creditors
2,390 
4,846 
Accruals
77,228 
13,284 
Deferred income
78,616 
423,717 
756,572 
636,670 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Amounts owed to group undertakings and other participating interests
4,869,428 
3,598,909 
9
Average number of employees
During the year the average number of employees was 14 (2022: 20).
- 7 -