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REGISTERED NUMBER: 10824637 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

PROREC LIMITED

PROREC LIMITED (REGISTERED NUMBER: 10824637)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROREC LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: J E Hobson





REGISTERED OFFICE: 7 First Floor
Magellan Terrace
Gatwick Road
Crawley
Sussex
RH10 9PJ





REGISTERED NUMBER: 10824637 (England and Wales)





ACCOUNTANTS: John Williams & Co Limited
Chartered Certified Accountants
Chart House
2 Effingham Road
Reigate
Surrey
RH2 7JN

PROREC LIMITED (REGISTERED NUMBER: 10824637)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 3,117
Tangible assets 5 20,196 2,934
20,196 6,051

CURRENT ASSETS
Debtors 6 702,011 646,840
Cash at bank 29,680 261,862
731,691 908,702
CREDITORS
Amounts falling due within one year 7 678,582 914,457
NET CURRENT ASSETS/(LIABILITIES) 53,109 (5,755 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

73,305

296

CREDITORS
Amounts falling due after more than one
year

8

(73,117

)

(129,788

)

PROVISIONS FOR LIABILITIES 9 (3,689 ) -
NET LIABILITIES (3,501 ) (129,492 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings (3,601 ) (129,592 )
SHAREHOLDERS' FUNDS (3,501 ) (129,492 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PROREC LIMITED (REGISTERED NUMBER: 10824637)

BALANCE SHEET - continued
30 JUNE 2023


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 director and authorised for issue on 12 March 2024 and were signed by:





J E Hobson - Director


PROREC LIMITED (REGISTERED NUMBER: 10824637)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Prorec 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.

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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

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 18 (2022 - 14 ) .

PROREC LIMITED (REGISTERED NUMBER: 10824637)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2022 6,467
Disposals (6,467 )
At 30 June 2023 -
AMORTISATION
At 1 July 2022 2,376
Eliminated on disposal (2,376 )
At 30 June 2023 -
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 4,091

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2022 10,436 10,211 20,647
Additions - 17,475 17,475
At 30 June 2023 10,436 27,686 38,122
DEPRECIATION
At 1 July 2022 7,318 7,278 14,596
Charge for year 2,338 992 3,330
At 30 June 2023 9,656 8,270 17,926
NET BOOK VALUE
At 30 June 2023 780 19,416 20,196
At 30 June 2022 3,118 2,933 6,051

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 668,645 635,065
Other debtors 8,799 3,374
Prepayments 24,567 8,401
702,011 646,840

PROREC LIMITED (REGISTERED NUMBER: 10824637)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 13,276 -
Other loans 18,180 -
Trade creditors 18,229 148,409
Tax 11,476 -
Social security and other taxes 7,111 15,921
VAT 84,266 118,854
Other creditors 460,031 576,069
Directors' current accounts 12,129 -
Accruals and deferred income 53,884 55,204
678,582 914,457

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 10,648 -
Bank loans - 2-5 years 8,629 47,484
Other loans - 1-2 years 18,180 -
Other loans - 2-5 years 35,660 82,304
73,117 129,788

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 3,689 -

Deferred
tax
£   
Accelerated capital allowances 3,689
Balance at 30 June 2023 3,689

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100