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REGISTERED NUMBER: 07077451 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

PROCOM-IM LTD

PROCOM-IM LTD (REGISTERED NUMBER: 07077451)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROCOM-IM LTD

COMPANY INFORMATION
For The Year Ended 31 March 2023







DIRECTOR: C P Hardiman





REGISTERED OFFICE: 2nd Floor, Denmark Court
18 Market Place
Wokingham
Berkshire
RGH40 1A





REGISTERED NUMBER: 07077451 (England and Wales)





ACCOUNTANTS: Banks & Co Limited
Chartered Certified Accountants
1 Carnegie Road
Newbury
Berkshire
RG14 5DJ

PROCOM-IM LTD (REGISTERED NUMBER: 07077451)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,800 26,169

CURRENT ASSETS
Stocks 205,825 -
Debtors 5 1,049,341 1,077,657
Cash at bank and in hand 171,717 230,349
1,426,883 1,308,006
CREDITORS
Amounts falling due within one year 6 822,051 482,449
NET CURRENT ASSETS 604,832 825,557
TOTAL ASSETS LESS CURRENT
LIABILITIES

626,632

851,726

CREDITORS
Amounts falling due after more than
one year

7

(472,212

)

(672,383

)

PROVISIONS FOR LIABILITIES (4,142 ) (6,542 )
NET ASSETS 150,278 172,801

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 150,276 172,799
SHAREHOLDERS' FUNDS 150,278 172,801

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

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

PROCOM-IM LTD (REGISTERED NUMBER: 07077451)

BALANCE SHEET - continued
31 March 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 20 March 2024 and were signed by:





C P Hardiman - Director


PROCOM-IM LTD (REGISTERED NUMBER: 07077451)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 March 2023

1. STATUTORY INFORMATION

PROCOM-IM LTD 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.

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

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 13 ) .

PROCOM-IM LTD (REGISTERED NUMBER: 07077451)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 April 2022 43,522 33,472 51,723 128,717
Additions - - 1,792 1,792
At 31 March 2023 43,522 33,472 53,515 130,509
DEPRECIATION
At 1 April 2022 43,522 26,963 32,063 102,548
Charge for year - 987 5,174 6,161
At 31 March 2023 43,522 27,950 37,237 108,709
NET BOOK VALUE
At 31 March 2023 - 5,522 16,278 21,800
At 31 March 2022 - 6,509 19,660 26,169

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 455,468 319,173
Other debtors 61,846 -
Directors' current accounts 259,269 76,022
Prepayments and accrued income 238,000 638,140
Prepayments 34,758 44,322
1,049,341 1,077,657

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 214,198 138,816
Trade creditors 189,295 89,896
Tax 155,587 115,183
Social security and other taxes 46,773 20,784
VAT 174,036 41,807
Other creditors 2,711 50,001
Accrued expenses 39,451 25,962
822,051 482,449

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 472,212 672,383

PROCOM-IM LTD (REGISTERED NUMBER: 07077451)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 March 2023

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 30,000 112,500
Between one and five years 15,000 -
45,000 112,500

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £0.02 2 2

10. CONTINGENT ASSET

As at the reporting date, there were a number significant claims made by the company on third parties which are ongoing and the resolution is unknown.