Registered number
05044537
Proftran Ltd
Filleted Accounts
31 October 2023
Proftran Ltd
Registered number: 05044537
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,483 3,401
Current assets
Debtors 4 14,235 21,481
Cash at bank and in hand 10,434 11,542
24,669 33,023
Creditors: amounts falling due within one year 5 (20,987) (32,798)
Net current assets 3,682 225
Total assets less current liabilities 6,165 3,626
Creditors: amounts falling due after more than one year 6 (15,000) (25,000)
Net liabilities (8,835) (21,374)
Capital and reserves
Called up share capital 10,000 10,000
Profit and loss account (18,835) (31,374)
Shareholders' funds (8,835) (21,374)
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.
S Bogdyuk
Director
Approved by the board on 31 July 2024
Proftran Ltd
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 rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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,, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings over 10 years
Plant and machinery over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
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 and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 November 2022 1,592 14,044 15,636
At 31 October 2023 1,592 14,044 15,636
Depreciation
At 1 November 2022 318 11,917 12,235
Charge for the year 159 759 918
At 31 October 2023 477 12,676 13,153
Net book value
At 31 October 2023 1,115 1,368 2,483
At 31 October 2022 1,274 2,127 3,401
4 Debtors 2023 2022
£ £
Trade debtors 4,235 11,481
Other debtors 10,000 10,000
14,235 21,481
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 7,224 3,750
Other creditors 13,763 29,048
20,987 32,798
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 15,000 25,000
7 Other information
Proftran Ltd is a private company limited by shares and incorporated in England. Its registered office is:
32 Moorholme
Woking
Surrey
GU22 7QX
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