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REGISTERED NUMBER: 06511023 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

PROACCESS LTD

PROACCESS LTD (REGISTERED NUMBER: 06511023)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROACCESS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: D J Pendlebury
Mrs S E Pendlebury





SECRETARY: Mrs S E Pendlebury





REGISTERED OFFICE: Office 10 Chandos Business Centre
Warwick Street
Leamington Spa
CV32 4RJ





REGISTERED NUMBER: 06511023 (England and Wales)





ACCOUNTANTS: Walker Thompson Ltd
Accountants & Registered Auditors
Empress House
43a Binley Road
Coventry
CV3 1HU

PROACCESS LTD (REGISTERED NUMBER: 06511023)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 577 4,833
Investment property 5 - 268,000
577 272,833

CURRENT ASSETS
Stocks 102,364 69,968
Debtors 6 96,481 158,781
Cash at bank and in hand 940,911 502,405
1,139,756 731,154
CREDITORS
Amounts falling due within one year 7 164,781 159,502
NET CURRENT ASSETS 974,975 571,652
TOTAL ASSETS LESS CURRENT
LIABILITIES

975,552

844,485

PROVISIONS FOR LIABILITIES 110 12,116
NET ASSETS 975,442 832,369

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 975,342 832,269
SHAREHOLDERS' FUNDS 975,442 832,369

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

PROACCESS LTD (REGISTERED NUMBER: 06511023)

BALANCE SHEET - continued
29 FEBRUARY 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 August 2024 and were signed on its behalf by:





Mrs S E Pendlebury - Director


PROACCESS LTD (REGISTERED NUMBER: 06511023)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Proaccess Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax. Sales of goods are recognised in the period in which the goods are delivered. Sales of services are recognised in the accounting period in which the service is carried out. Where a service contract spans an accounting period the turnover is recognised equally over the period of the contract.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer Equipment - 33.33% on cost
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 Statement of Income and Retained Earnings, 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.

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.

PROACCESS LTD (REGISTERED NUMBER: 06511023)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Computer and Motor Office
Equipment fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 4,190 823 11,912 272 17,197
Additions - 37 - - 37
Disposals - - (11,912 ) - (11,912 )
At 29 February 2024 4,190 860 - 272 5,322
DEPRECIATION
At 1 March 2023 3,811 356 8,143 54 12,364
Charge for year 379 101 - 44 524
Eliminated on disposal - - (8,143 ) - (8,143 )
At 29 February 2024 4,190 457 - 98 4,745
NET BOOK VALUE
At 29 February 2024 - 403 - 174 577
At 28 February 2023 379 467 3,769 218 4,833

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 268,000
Disposals (268,000 )
At 29 February 2024 -
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 268,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 85,543 157,769
Other debtors 10,938 1,012
96,481 158,781

PROACCESS LTD (REGISTERED NUMBER: 06511023)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 3,912 21,887
Taxation and social security 117,842 98,251
Other creditors 43,027 39,364
164,781 159,502

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 March 2023 832,269
Profit for the year 217,933
Dividends (74,860 )
At 29 February 2024 975,342

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
D J Pendlebury
Balance outstanding at start of year - -
Amounts advanced 10,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,000 -

The loan is interest free and repayable upon demand.