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Company No: 13004362 (England and Wales)

PROPALIAN LTD

Unaudited Financial Statements
For the financial year ended 30 November 2023
Pages for filing with the registrar

PROPALIAN LTD

Unaudited Financial Statements

For the financial year ended 30 November 2023

Contents

PROPALIAN LTD

COMPANY INFORMATION

For the financial year ended 30 November 2023
PROPALIAN LTD

COMPANY INFORMATION (continued)

For the financial year ended 30 November 2023
DIRECTORS Ashe-Wynter Morgan
Songi Woo
REGISTERED OFFICE Lowin House
Tregolls Road
Truro
TR1 2NA
United Kingdom
COMPANY NUMBER 13004362 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
PROPALIAN LTD

BALANCE SHEET

As at 30 November 2023
PROPALIAN LTD

BALANCE SHEET (continued)

As at 30 November 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 3,940 4,640
3,940 4,640
Current assets
Debtors 4 5,677 43
Cash at bank and in hand 5 13,885 1,178
19,562 1,221
Creditors: amounts falling due within one year 6 ( 10,662) ( 9,692)
Net current assets/(liabilities) 8,900 (8,471)
Total assets less current liabilities 12,840 (3,831)
Net assets/(liabilities) 12,840 ( 3,831)
Capital and reserves
Called-up share capital 7 1 1
Profit and loss account 12,839 ( 3,832 )
Total shareholder's funds/(deficit) 12,840 ( 3,831)

For the financial year ending 30 November 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Propalian Ltd (registered number: 13004362) were approved and authorised for issue by the Board of Directors on 07 March 2024. They were signed on its behalf by:

Ashe-Wynter Morgan
Director
PROPALIAN LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
PROPALIAN LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Propalian Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 December 2022 5,459 5,459
Additions 240 240
At 30 November 2023 5,699 5,699
Accumulated depreciation
At 01 December 2022 819 819
Charge for the financial year 940 940
At 30 November 2023 1,759 1,759
Net book value
At 30 November 2023 3,940 3,940
At 30 November 2022 4,640 4,640

4. Debtors

2023 2022
£ £
Other debtors 5,677 43

5. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 13,885 1,178

6. Creditors: amounts falling due within one year

2023 2022
£ £
Taxation and social security 3,650 0
Other creditors 7,012 9,692
10,662 9,692

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1 Ordinary Share share of £ 1.00 1 1