3 false false false false false false false false false false true false false false false false false No description of principal activity 2022-12-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 10455714 2022-12-01 2023-11-30 10455714 2023-11-30 10455714 2022-11-30 10455714 2021-12-01 2022-11-30 10455714 2022-11-30 10455714 2021-11-30 10455714 core:PlantMachinery 2022-12-01 2023-11-30 10455714 core:MotorVehicles 2022-12-01 2023-11-30 10455714 bus:Director1 2022-12-01 2023-11-30 10455714 core:PlantMachinery 2022-11-30 10455714 core:MotorVehicles 2022-11-30 10455714 core:PlantMachinery 2023-11-30 10455714 core:MotorVehicles 2023-11-30 10455714 core:WithinOneYear 2023-11-30 10455714 core:WithinOneYear 2022-11-30 10455714 core:ShareCapital 2023-11-30 10455714 core:ShareCapital 2022-11-30 10455714 core:RetainedEarningsAccumulatedLosses 2023-11-30 10455714 core:RetainedEarningsAccumulatedLosses 2022-11-30 10455714 core:PlantMachinery 2022-11-30 10455714 core:MotorVehicles 2022-11-30 10455714 bus:Director1 2022-11-30 10455714 bus:Director1 2023-11-30 10455714 bus:Director1 2022-11-30 10455714 bus:Director1 2021-12-01 2022-11-30 10455714 bus:SmallEntities 2022-12-01 2023-11-30 10455714 bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 10455714 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 10455714 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 10455714 bus:FullAccounts 2022-12-01 2023-11-30 10455714 core:ComputerEquipment 2022-12-01 2023-11-30 10455714 core:ComputerEquipment 2022-11-30 10455714 core:ComputerEquipment 2023-11-30
COMPANY REGISTRATION NUMBER: 10455714
Praetorian Solutions Ltd
Filleted Unaudited Financial Statements
30 November 2023
Praetorian Solutions Ltd
Financial Statements
Year ended 30 November 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Praetorian Solutions Ltd
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
66,757
82,752
Current assets
Debtors
6
6,720
17,288
Cash at bank and in hand
339,947
192,725
---------
---------
346,667
210,013
Creditors: amounts falling due within one year
7
204,240
108,442
---------
---------
Net current assets
142,427
101,571
---------
---------
Total assets less current liabilities
209,184
184,323
---------
---------
Net assets
209,184
184,323
---------
---------
Capital and reserves
Called up share capital
300
300
Profit and loss account
208,884
184,023
---------
---------
Shareholders funds
209,184
184,323
---------
---------
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 30 November 2023 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 .
Praetorian Solutions Ltd
Statement of Financial Position (continued)
30 November 2023
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:
Mr P Mitchell
Director
Company registration number: 10455714
Praetorian Solutions Ltd
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 320 London Road, Hazel Grove, Stockport, SK7 4RF.
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 for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
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:
Plant and machinery
-
33% straight line
Motor vehicles
-
25% straight line
Equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 December 2022
33,775
90,998
707
125,480
Additions
53,123
53,123
Disposals
( 49,287)
( 49,287)
--------
--------
----
---------
At 30 November 2023
33,775
94,834
707
129,316
--------
--------
----
---------
Depreciation
At 1 December 2022
8,844
33,177
707
42,728
Charge for the year
8,444
23,709
32,153
Disposals
( 12,322)
( 12,322)
--------
--------
----
---------
At 30 November 2023
17,288
44,564
707
62,559
--------
--------
----
---------
Carrying amount
At 30 November 2023
16,487
50,270
66,757
--------
--------
----
---------
At 30 November 2022
24,931
57,821
82,752
--------
--------
----
---------
6. Debtors
2023
2022
£
£
Trade debtors
6,720
720
Other debtors
16,568
-------
--------
6,720
17,288
-------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
127,781
68,238
Corporation tax
64,650
38,956
Social security and other taxes
10,902
86
Other creditors
907
1,162
---------
---------
204,240
108,442
---------
---------
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr P Mitchell
( 362)
295
( 67)
----
----
----
2022
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr P Mitchell
( 362)
( 362)
----
----
----