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REGISTERED NUMBER: 07332665 (England and Wales)















Pro Formance Metals Limited

Unaudited Financial Statements

for the Year Ended 31st August 2023






Pro Formance Metals Limited (Registered number: 07332665)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


Pro Formance Metals Limited

Company Information
for the year ended 31st August 2023







DIRECTORS: P J Matts
J Colantonio





SECRETARY: P J Matts





REGISTERED OFFICE: 1 High March Close
Daventry
Northamptonshire
NN11 4EZ





REGISTERED NUMBER: 07332665 (England and Wales)





ACCOUNTANTS: Cheney & Co
310 Wellingborough Road
Northampton
NN1 4EP

Pro Formance Metals Limited (Registered number: 07332665)

Balance Sheet
31st August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 318,263 314,444

CURRENT ASSETS
Stocks 214,725 288,432
Debtors 6 80,732 70,593
Cash at bank 589,178 530,928
884,635 889,953
CREDITORS
Amounts falling due within one year 7 191,961 221,672
NET CURRENT ASSETS 692,674 668,281
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,010,937

982,725

PROVISIONS FOR LIABILITIES 8 3,100 1,800
NET ASSETS 1,007,837 980,925

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 1,007,835 980,923
SHAREHOLDERS' FUNDS 1,007,837 980,925

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 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.

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 29th February 2024 and were signed on its behalf by:




P J Matts - Director



J Colantonio - Director


Pro Formance Metals Limited (Registered number: 07332665)

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

1. STATUTORY INFORMATION

Pro Formance Metals 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 (£).


The principal activity of the company in the year under review was that of the wholesale of metals and metal ores.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 10% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Pro Formance Metals Limited (Registered number: 07332665)

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

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1st September 2022 324,106 18,832 19,019 361,957
Additions - 8,821 - 8,821
At 31st August 2023 324,106 27,653 19,019 370,778
DEPRECIATION
At 1st September 2022 19,092 9,402 19,019 47,513
Charge for year 3,182 1,820 - 5,002
At 31st August 2023 22,274 11,222 19,019 52,515
NET BOOK VALUE
At 31st August 2023 301,832 16,431 - 318,263
At 31st August 2022 305,014 9,430 - 314,444

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 55,335 65,556
Other debtors 25,397 5,037
80,732 70,593

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 79,782 84,508
Taxation and social security 53,437 69,047
Other creditors 58,742 68,117
191,961 221,672

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 3,100 1,800

Deferred
tax
£   
Balance at 1st September 2022 1,800
Provided during year 1,300
Balance at 31st August 2023 3,100

Pro Formance Metals Limited (Registered number: 07332665)

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

9. CALLED UP SHARE CAPITAL

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

10. CONTINGENT LIABILITIES

There were no contingent liabilities as at 31st August 2023 or 31st August 2022.

11. CAPITAL COMMITMENTS

There were no capital commitments as at 31st August 2023 or 31st August 2022.