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REGISTERED NUMBER: 09278333 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

ProSpare Limited

ProSpare Limited (Registered number: 09278333)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ProSpare Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mr J R Bullock
Mr D P Bullock
Mr J A Bullock
Mrs A H Barry
Mr S J Wing
Mr T J Bullock





SECRETARY: Mr D P Bullock





REGISTERED OFFICE: Unit 1 Castlewood Business Park
Farmwell Lane
Sutton-in-Ashfield
Nottinghamshire
NG17 1BX





REGISTERED NUMBER: 09278333 (England and Wales)





ACCOUNTANTS: Mellor Oxland LLP
Hine House
25 Regent Street
Nottingham
NG1 5BS

ProSpare Limited (Registered number: 09278333)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 219,766 215,328

CURRENT ASSETS
Stocks - 133,160
Debtors 5 1,003,524 649,394
Cash at bank 89,071 69,588
1,092,595 852,142
CREDITORS
Amounts falling due within one year 6 222,979 212,317
NET CURRENT ASSETS 869,616 639,825
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,089,382

855,153

PROVISIONS FOR LIABILITIES 41,629 46,110
NET ASSETS 1,047,753 809,043

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Retained earnings 8 947,753 709,043
SHAREHOLDERS' FUNDS 1,047,753 809,043

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

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

ProSpare Limited (Registered number: 09278333)

Balance Sheet - continued
31 October 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 Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





Mr D P Bullock - Director


ProSpare Limited (Registered number: 09278333)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

ProSpare 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.

These financial statements have been prepared on a going concern basis. Although the Covid-19 pandemic initially created general economic uncertainty, the finances of the company, together with the other companies within the group, have proved sufficiently robust in minimising the financial impact of the various restrictions and lockdown periods that have directly affected the company's trade.

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.
Plant and machinery etc - 10% on cost and at varying rates 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.


ProSpare Limited (Registered number: 09278333)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued
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 15 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and
property machinery Totals
£    £    £   
COST
At 1 November 2022 193,655 198,240 391,895
Additions 47,378 1,935 49,313
At 31 October 2023 241,033 200,175 441,208
DEPRECIATION
At 1 November 2022 73,177 103,390 176,567
Charge for year 15,054 29,821 44,875
At 31 October 2023 88,231 133,211 221,442
NET BOOK VALUE
At 31 October 2023 152,802 66,964 219,766
At 31 October 2022 120,478 94,850 215,328

ProSpare Limited (Registered number: 09278333)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 711,736 465,117
Amounts owed by group undertakings 285,243 -
Other debtors 6,545 184,277
1,003,524 649,394

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 13,677 13,971
Taxation and social security 108,969 122,243
Other creditors 100,333 76,103
222,979 212,317

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 11,428 11,894
Between one and five years 6,518 17,946
17,946 29,840

8. RESERVES
Retained
earnings
£   

At 1 November 2022 709,043
Profit for the year 238,710
At 31 October 2023 947,753