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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
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
121,070 
135,745 
Tangible assets
65,363 
23,668 
186,433 
159,413 
Current assets
Inventories
4,729 
22,311 
Debtors
85,069 
41,219 
Cash at bank and in hand
181,063 
79,069 
270,861 
142,599 
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
Deferred tax
(16,341)
- 
Net assets
336,937 
123,209 
Capital and reserves
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
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PRO-SEAT GLOBAL LIMITED Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories
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 taxation
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.
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PRO-SEAT GLOBAL LIMITED Notes to the Accounts for the year ended 31 December 2023
Foreign exchange
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.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 January 2023
146,751 
At 31 December 2023
146,751 
Amortisation
At 1 January 2023
11,006 
Charge for the year
14,675 
At 31 December 2023
25,681 
Net book value
At 31 December 2023
121,070 
At 31 December 2022
135,745 
5
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 
Depreciation
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 
Net book value
At 31 December 2023
22,553 
42,327 
483 
65,363 
At 31 December 2022
23,403 
- 
265 
23,668 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
83,216 
40,492 
Accrued income and prepayments
1,853 
713 
Other debtors
- 
14 
85,069 
41,219 
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PRO-SEAT GLOBAL LIMITED Notes to the Accounts for the year ended 31 December 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
10,110 
6,276 
Trade creditors
2,405 
141,481 
Taxes and social security
80,573 
28,682 
Other creditors
6,349 
24 
Loans from directors
3,079 
840 
Accruals
1,500 
1,500 
104,016 
178,803 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000 
1,000 
9
Average number of employees
During the year the average number of employees was 3 (2022: 2).
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