2 28/11/2023 2023-11-28 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2022-11-29 Sage Accounts Production 23.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 04952169 2022-11-29 2023-11-28 04952169 2023-11-28 04952169 2022-11-28 04952169 2021-11-29 2022-11-28 04952169 2022-11-28 04952169 2021-11-28 04952169 core:FurnitureFittingsToolsEquipment 2022-11-29 2023-11-28 04952169 bus:Director1 2022-11-29 2023-11-28 04952169 core:NetGoodwill 2023-11-28 04952169 core:FurnitureFittingsToolsEquipment 2022-11-28 04952169 core:FurnitureFittingsToolsEquipment 2023-11-28 04952169 core:WithinOneYear 2023-11-28 04952169 core:WithinOneYear 2022-11-28 04952169 core:AfterOneYear 2023-11-28 04952169 core:AfterOneYear 2022-11-28 04952169 core:ShareCapital 2023-11-28 04952169 core:ShareCapital 2022-11-28 04952169 core:RetainedEarningsAccumulatedLosses 2023-11-28 04952169 core:RetainedEarningsAccumulatedLosses 2022-11-28 04952169 core:NetGoodwill 2022-11-28 04952169 core:FurnitureFittingsToolsEquipment 2022-11-28 04952169 bus:SmallEntities 2022-11-29 2023-11-28 04952169 bus:AuditExempt-NoAccountantsReport 2022-11-29 2023-11-28 04952169 bus:FullAccounts 2022-11-29 2023-11-28 04952169 bus:SmallCompaniesRegimeForAccounts 2022-11-29 2023-11-28 04952169 bus:PrivateLimitedCompanyLtd 2022-11-29 2023-11-28 04952169 core:NetGoodwill 2022-11-29 2023-11-28
Company registration number: 04952169
PROHQ Limited
Unaudited filleted financial statements
28 November 2023
PROHQ Limited
Contents
Statement of financial position
Notes to the financial statements
PROHQ Limited
Statement of financial position
28 November 2023
2023 2022
Note £ £ £ £
Fixed assets
Intangible assets 5 - -
Tangible assets 6 429 573
_______ _______
429 573
Current assets
Stocks 450 680
Debtors 7 23,498 16,598
Cash at bank and in hand 707 2,224
_______ _______
24,655 19,502
Creditors: amounts falling due
within one year 8 ( 18,266) ( 10,176)
_______ _______
Net current assets 6,389 9,326
_______ _______
Total assets less current liabilities 6,818 9,899
Creditors: amounts falling due
after more than one year 9 ( 5,856) ( 9,031)
Provisions for liabilities ( 82) ( 109)
_______ _______
Net assets 880 759
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 878 757
_______ _______
Shareholder funds 880 759
_______ _______
For the year ending 28 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements were approved by the board of directors and authorised for issue on 30 August 2024 , and are signed on behalf of the board by:
Ms Lyndsay Jayne Bishop
Director
Company registration number: 04952169
PROHQ Limited
Notes to the financial statements
Year ended 28 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 1 Mill Lane, Gargrave, Skipton, North Yorkshire, BD23 3RZ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
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.Revenue from the provision of services is recognised in the period in which the services are provided when all of the following conditions are satisfied; the amount of revenue can be measured reliably; it is probable that the economic benefits associated with the transaction will flow to the entity; the stage of completion of the transaction at the end of the reporting period can be measured reliably and the costs incurred and costs to complete the transaction can be measured reliably.
Taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances and revaluation gains on investment properties. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - Over 5 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated 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.
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:
Fittings fixtures and equipment - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in a settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.
Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 1 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 29 November 2022 and 28 November 2023 23,000 23,000
_______ _______
Amortisation
At 29 November 2022 and 28 November 2023 23,000 23,000
_______ _______
Carrying amount
At 28 November 2023 - -
_______ _______
At 28 November 2022 - -
_______ _______
6. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 29 November 2022 and 28 November 2023 33,042 33,042
_______ _______
Depreciation
At 29 November 2022 32,469 32,469
Charge for the year 144 144
_______ _______
At 28 November 2023 32,613 32,613
_______ _______
Carrying amount
At 28 November 2023 429 429
_______ _______
At 28 November 2022 573 573
_______ _______
7. Debtors
2023 2022
£ £
Other debtors 23,498 16,598
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 3,477 3,502
Corporation tax 13,327 5,415
Social security and other taxes 312 -
Other creditors 1,150 1,259
_______ _______
18,266 10,176
_______ _______
9. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 5,856 9,031
_______ _______