Registered number
04528391
PROPHETIC TECHNOLOGY LIMITED
Filleted Accounts
30 September 2023
PROPHETIC TECHNOLOGY LIMITED
Registered number: 04528391
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Current assets
Debtors 4 11,998 8,453
Cash at bank and in hand - 2,405
11,998 10,858
Creditors: amounts falling due within one year 5 (43,117) (14,613)
Net current liabilities (31,119) (3,755)
Net liabilities (31,119) (3,755)
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account (32,119) (4,755)
Shareholder's funds (31,119) (3,755)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
D T Food
Director
Approved by the board on 13 August 2024
PROPHETIC TECHNOLOGY LIMITED
Notes to the Accounts
for the year ended 30 September 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 tax. 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.
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 3 years straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are recognised at transaction price including any transaction costs.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are recognised at transaction price net of any transaction costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.

A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
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 October 2022 9,422
At 30 September 2023 9,422
Depreciation
At 1 October 2022 9,422
At 30 September 2023 9,422
Net book value
At 30 September 2023 -
4 Debtors 2023 2022
£ £
Trade debtors 11,998 6,105
Other debtors - 2,348
11,998 8,453
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 111 -
Other taxes and social security costs 168 168
Director current account 42,733 12,350
Other creditors 105 2,095
43,117 14,613
6 Other information
PROPHETIC TECHNOLOGY LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
41 Spring Avenue
Egham
Surrey
TW20 9PJ
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