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Company No: 12431696 (England and Wales)

PROGRAM 10 LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

PROGRAM 10 LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

PROGRAM 10 LIMITED

COMPANY INFORMATION

For the financial year ended 31 January 2024
PROGRAM 10 LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 January 2024
DIRECTORS Mrs A Styring
Mr P Styring
SECRETARY Mrs J Styring
REGISTERED OFFICE Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
United Kingdom
COMPANY NUMBER 12431696 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
PROGRAM 10 LIMITED

BALANCE SHEET

As at 31 January 2024
PROGRAM 10 LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 10,565 8,458
Tangible assets 4 47,210 56,771
57,775 65,229
Current assets
Stocks 2,250 2,250
Debtors 5 2,478 412
Cash at bank and in hand 16,784 39,331
21,512 41,993
Creditors: amounts falling due within one year 6 ( 22,569) ( 12,780)
Net current (liabilities)/assets (1,057) 29,213
Total assets less current liabilities 56,718 94,442
Creditors: amounts falling due after more than one year 7 ( 29,250) ( 32,250)
Provision for liabilities ( 11,482) ( 11,482)
Net assets 15,986 50,710
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 15,886 50,610
Total shareholders' funds 15,986 50,710

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Program 10 Limited (registered number: 12431696) were approved and authorised for issue by the Board of Directors on 29 August 2024. They were signed on its behalf by:

Mr P Styring
Director
PROGRAM 10 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
PROGRAM 10 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Program 10 Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House, Oak View Close, Edginswell Park, Torquay, TQ2 7FF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax. The company recognises revenue based on it's value of the services provided to date.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
Website costs 4 years straight line
Other intangible assets 5 years straight line
Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is [number] years.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Vehicles 20 % reducing balance
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Intangible assets

Goodwill Website costs Other intangible assets Total
£ £ £ £
Cost
At 01 February 2023 12,000 1,463 4,025 17,488
Additions 0 0 6,805 6,805
At 31 January 2024 12,000 1,463 10,830 24,293
Accumulated amortisation
At 01 February 2023 7,200 1,025 805 9,030
Charge for the financial year 2,400 408 1,890 4,698
At 31 January 2024 9,600 1,433 2,695 13,728
Net book value
At 31 January 2024 2,400 30 8,135 10,565
At 31 January 2023 4,800 438 3,220 8,458

4. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 01 February 2023 7,636 69,673 6,695 84,004
Additions 0 0 2,083 2,083
At 31 January 2024 7,636 69,673 8,778 86,087
Accumulated depreciation
At 01 February 2023 3,237 21,040 2,956 27,233
Charge for the financial year 816 9,022 1,806 11,644
At 31 January 2024 4,053 30,062 4,762 38,877
Net book value
At 31 January 2024 3,583 39,611 4,016 47,210
At 31 January 2023 4,399 48,633 3,739 56,771

5. Debtors

2024 2023
£ £
Corporation tax 856 0
Other debtors 1,622 412
2,478 412

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 3,000 3,000
Taxation and social security 796 4,444
Obligations under finance leases and hire purchase contracts 0 1,623
Other creditors 18,773 3,713
22,569 12,780

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 4,250 7,250
Other creditors 25,000 25,000
29,250 32,250

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
51 Ordinary A shares of £ 1.00 each 51 51
44 Ordinary B shares of £ 1.00 each 44 44
5 Ordinary C shares of £ 1.00 each 5 5
100 100