Registered number
07120180
PROKYM LIMITED
Filleted Accounts
31 October 2023
PROKYM LIMITED
Registered number: 07120180
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 175,901 303,053
Current assets
Cash at bank and in hand 1,500 1,535
Creditors: amounts falling due within one year 4 (25,021) (25,521)
Net current liabilities (23,521) (23,986)
Total assets less current liabilities 152,380 279,067
Creditors: amounts falling due after more than one year 5 (313,095) (531,855)
Net liabilities (160,715) (252,788)
Capital and reserves
Called up share capital 100 100
Profit and loss account (160,815) (252,888)
Shareholders' funds (160,715) (252,788)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr K Y Munshi
Director
Approved by the board on 30 July 2024
PROKYM LIMITED
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022 501,417
Disposals (150,000)
At 31 October 2023 351,417
Depreciation
At 1 November 2022 198,364
On disposals (22,848)
At 31 October 2023 175,516
Net book value
At 31 October 2023 175,901
At 31 October 2022 303,053
4 Creditors: amounts falling due within one year 2023 2022
£ £
Accruals 500 1,000
Other creditors 24,521 24,521
25,021 25,521
5 Creditors: amounts falling due after one year 2023 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 162,795 381,555
Directors loan account 110,300 110,300
Progen International Ltd 40,000 40,000
313,095 531,855
6 Other information
PROKYM LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
2A Newhouse Road
Huncoat Business park
Huncoat
Lancashire
BB5 6NT
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