Company Registration No. 13783306 (England and Wales)
PRO-SEAT GLOBAL LIMITED
Unaudited accounts
for the year ended 31 December 2023
PRO-SEAT GLOBAL LIMITED
Statement of financial position
as at 31 December 2023
Intangible assets
121,070
135,745
Tangible assets
65,363
23,668
Cash at bank and in hand
181,063
79,069
Creditors: amounts falling due within one year
(104,016)
(178,803)
Net current assets/(liabilities)
166,845
(36,204)
Total assets less current liabilities
353,278
123,209
Provisions for liabilities
Net assets
336,937
123,209
Called up share capital
1,000
1,000
Profit and loss account
335,937
122,209
Shareholders' funds
336,937
123,209
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 August 2024 and were signed on its behalf by
Alexander Henry Powell
Director
Company Registration No. 13783306
PRO-SEAT GLOBAL LIMITED
Notes to the Accounts
for the year ended 31 December 2023
PRO-SEAT GLOBAL LIMITED is a private company, limited by shares, registered in England and Wales, registration number 13783306. The registered office is 4 Cae Mansel Lane, Gowerton, Swansea, West Glamorgan, SA4 3HW, Wales.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Computer equipment
25% reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
PRO-SEAT GLOBAL LIMITED
Notes to the Accounts
for the year ended 31 December 2023
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Intangible fixed assets
Goodwill
At 31 December 2023
146,751
Charge for the year
14,675
At 31 December 2023
25,681
At 31 December 2023
121,070
At 31 December 2022
135,745
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Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2023
28,043
-
283
28,326
Additions
5,583
47,762
303
53,648
At 31 December 2023
33,626
47,762
586
81,974
At 1 January 2023
4,640
-
18
4,658
Charge for the year
6,433
5,435
85
11,953
At 31 December 2023
11,073
5,435
103
16,611
At 31 December 2023
22,553
42,327
483
65,363
At 31 December 2022
23,403
-
265
23,668
Amounts falling due within one year
Trade debtors
83,216
40,492
Accrued income and prepayments
1,853
713
PRO-SEAT GLOBAL LIMITED
Notes to the Accounts
for the year ended 31 December 2023
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Creditors: amounts falling due within one year
2023
2022
Trade creditors
2,405
141,481
Taxes and social security
80,573
28,682
Loans from directors
3,079
840
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
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Average number of employees
During the year the average number of employees was 3 (2022: 2).