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COMPANY REGISTRATION NUMBER: 12403422
Pragmatix Advisory Limited
Filleted Unaudited Financial Statements
31 March 2024
Pragmatix Advisory Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
6,157
6,281
Current assets
Debtors
6
37,067
78,852
Cash at bank and in hand
246,674
174,684
---------
---------
283,741
253,536
Creditors: amounts falling due within one year
7
38,853
48,379
---------
---------
Net current assets
244,888
205,157
---------
---------
Total assets less current liabilities
251,045
211,438
---------
---------
Net assets
251,045
211,438
---------
---------
Capital and reserves
Called up share capital
8
100
100
Profit and loss account
250,945
211,338
---------
---------
Shareholders funds
251,045
211,438
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Pragmatix Advisory Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 5 August 2024 , and are signed on behalf of the board by:
M A Pragnell
Director
Company registration number: 12403422
Pragmatix Advisory Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20 % straight line
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2023: 6 ).
5. Tangible assets
Equipment
£
Cost
At 1 April 2023
9,157
Additions
1,865
--------
At 31 March 2024
11,022
--------
Depreciation
At 1 April 2023
2,876
Charge for the year
1,989
--------
At 31 March 2024
4,865
--------
Carrying amount
At 31 March 2024
6,157
--------
At 31 March 2023
6,281
--------
6. Debtors
2024
2023
£
£
Trade debtors
35,730
77,995
Other debtors
1,337
857
--------
--------
37,067
78,852
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
163
Accruals and deferred income
1,695
1,420
Corporation tax
13,039
21,438
Social security and other taxes
22,662
20,777
Other creditors
572
3,513
Pension creditor
885
1,068
--------
--------
38,853
48,379
--------
--------
8. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 0.01 (2023 - £ 1) each
10,000
100
100
100
--------
----
----
----