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Registered number: 14127901
Pro Wealth Group Ltd
Unaudited Financial Statements
For the Period 24 May 2022 to 31 May 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 14127901
31 May 2023
Notes £ £
FIXED ASSETS
Tangible Assets 4 200,000
200,000
CURRENT ASSETS
Debtors 5 5,246
Cash at bank and in hand 25,870
31,116
Creditors: Amounts Falling Due Within One Year 6 (269,051 )
NET CURRENT ASSETS (LIABILITIES) (237,935 )
TOTAL ASSETS LESS CURRENT LIABILITIES (37,935 )
NET LIABILITIES (37,935 )
CAPITAL AND RESERVES
Called up share capital 8 100
Profit and Loss Account (38,035 )
SHAREHOLDERS' FUNDS (37,935)
For the period ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Alexander Okpongete
Director
19/02/2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Pro Wealth Group Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14127901 . The registered office is 7 Shepherds Court, Shepherds Bush Green, London, W12 8PN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director's who have undertaken to provide such support for the foreseeable future.
If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. The fair value of property is based on director's valuations and has not been based on a valuation by an independent valuer with a professional qualification. No depreciation is provided for. 
Changes in fair value are recognised in the profit and loss account.
2.5. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 2
2
4. Tangible Assets
Investment Properties
£
Cost or Valuation
As at 24 May 2022 -
Additions 210,832
Revaluation (10,832)
As at 31 May 2023 200,000
Net Book Value
As at 31 May 2023 200,000
As at 24 May 2022 -
Page 2
Page 3
5. Debtors
31 May 2023
£
Due within one year
Other debtors 100
100
Due after more than one year
Other debtors 5,146
5,146
5,246
6. Creditors: Amounts Falling Due Within One Year
31 May 2023
£
Bank loans and overdrafts 131,625
Directors' loan accounts 137,426
269,051
7. Secured Creditors
Of the creditors falling due within one year the following amount is secured by a fixed charge over the investment property. The loan is interest only with a term of up to 12 months.
31 May 2023
£
Bank loans and overdrafts 131,625
8. Share Capital
31 May 2023
£
Allotted, Called up and fully paid 100
Page 3