Proelium Limited 09044026 false 2022-06-01 2023-05-31 2023-05-31 The principal activity of the company is engineering consultancy services. Digita Accounts Production Advanced 6.30.9574.0 true 09044026 2022-06-01 2023-05-31 09044026 2023-05-31 09044026 core:CurrentFinancialInstruments 2023-05-31 09044026 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 09044026 core:Non-currentFinancialInstruments 2023-05-31 09044026 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 09044026 core:FurnitureFittingsToolsEquipment 2023-05-31 09044026 1 2023-05-31 09044026 bus:SmallEntities 2022-06-01 2023-05-31 09044026 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 09044026 bus:FullAccounts 2022-06-01 2023-05-31 09044026 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 09044026 bus:RegisteredOffice 2022-06-01 2023-05-31 09044026 bus:CompanySecretary1 2022-06-01 2023-05-31 09044026 bus:Director2 2022-06-01 2023-05-31 09044026 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 09044026 core:OfficeEquipment 2022-06-01 2023-05-31 09044026 countries:EnglandWales 2022-06-01 2023-05-31 09044026 1 2022-06-01 2023-05-31 09044026 2022-05-31 09044026 core:FurnitureFittingsToolsEquipment 2022-05-31 09044026 1 2022-05-31 09044026 2021-06-01 2022-05-31 09044026 2022-05-31 09044026 core:CurrentFinancialInstruments 2022-05-31 09044026 core:CurrentFinancialInstruments core:WithinOneYear 2022-05-31 09044026 core:Non-currentFinancialInstruments 2022-05-31 09044026 core:Non-currentFinancialInstruments core:AfterOneYear 2022-05-31 09044026 1 2022-05-31 09044026 1 2021-06-01 2022-05-31 09044026 1 2021-05-31 iso4217:GBP xbrli:pure

Registration number: 09044026

Proelium Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2023

 

Proelium Limited

Contents
for the Year Ended 31 May 2023

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Proelium Limited

Company Information
for the Year Ended 31 May 2023

Director

Mr J Mahony

Company secretary

Windsor Accountancy Limited

Registered office

St Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

Registered number

09044026 ( England and Wales )

Accountants

Windsor Accountancy Ltd
Chartered Certified Accountants
St. Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

 

Proelium Limited

(Registration number: 09044026)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Current assets

 

Debtors

5

152,126

146,288

Cash at bank and in hand

 

8,073

13,184

 

160,199

159,472

Creditors: Amounts falling due within one year

6

(60,518)

(64,039)

Total assets less current liabilities

 

99,681

95,433

Creditors: Amounts falling due after more than one year

6

(3,155)

(7,580)

Net assets

 

96,526

87,853

Capital and reserves

 

Called up share capital

100

100

Retained earnings

96,426

87,753

Shareholders' funds

 

96,526

87,853

For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 February 2024
 

.........................................
Mr J Mahony
Director

   
     
 

Proelium Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
St Stephens House
Arthur Road
Windsor
Berkshire
SL4 1RU

These financial statements were authorised for issue by the director on 29 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Proelium Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Proelium Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Proelium Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2022

1,045

1,045

At 31 May 2023

1,045

1,045

Depreciation

At 1 June 2022

1,045

1,045

At 31 May 2023

1,045

1,045

Carrying amount

At 31 May 2023

-

-

5

Debtors

Current

2023
£

2022
£

Other debtors

152,126

146,288

 

152,126

146,288

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

4,425

4,082

Taxation and social security

 

52,471

56,404

Accruals and deferred income

 

3,622

3,553

 

60,518

64,039

 

Proelium Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

3,155

7,580

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

3,155

7,580

2023
£

2022
£

Current loans and borrowings

Bank borrowings

4,425

4,082

8

Related party transactions

Transactions with the director

2023

At 1 June 2022
£

Advances to director
£

Repayments by director
£

At 31 May 2023
£

Advances and credits

108,229

19,918

(15,552)

112,595

         
       

 

2022

At 1 June 2021
£

Advances to director
£

Repayments by director
£

At 31 May 2022
£

Advances and credits

122,603

10,583

(24,957)

108,229

         
       

 

Other transactions with the director

The balance due from the director at the year end date was deemed repayable on demand. Interest was charged at 2% on the average balance.