Registered number
06632444
Pragma and Associates Limited
Unaudited Filleted Accounts
30 June 2024
Pragma and Associates Limited
Registered number: 06632444
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 27,051 27,338
Current assets
Debtors 4 1,296,754 1,255,784
Cash at bank and in hand 331,621 291,028
1,628,375 1,546,812
Creditors: amounts falling due within one year 5 (594,711) (559,824)
Net current assets 1,033,664 986,988
Total assets less current liabilities 1,060,715 1,014,326
Creditors: amounts falling due after more than one year 6 (10,000) (20,000)
Provisions for liabilities (6,468) (6,474)
Net assets 1,044,247 987,852
Capital and reserves
Called up share capital 384 384
Share premium 358,959 358,959
Profit and loss account 684,904 628,509
Shareholders' funds 1,044,247 987,852
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr I Glendenning
Director
Approved by the board on 5 September 2024
Pragma and Associates Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Improvements to leasehold land and buildings over 10 years
Computer equipment over 3 years
Plant and machinery 20% straight line
Fixtures, fittings, tools and equipment 20% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 11
3 Tangible fixed assets
Improvements to land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 July 2023 13,468 98,895 112,363
Additions - 12,900 12,900
At 30 June 2024 13,468 111,795 125,263
Depreciation
At 1 July 2023 4,040 80,985 85,025
Charge for the year 1,347 11,840 13,187
At 30 June 2024 5,387 92,825 98,212
Net book value
At 30 June 2024 8,081 18,970 27,051
At 30 June 2023 9,428 17,910 27,338
4 Debtors 2024 2023
£ £
Trade debtors 52,633 76,341
Other debtors 1,244,121 1,179,443
1,296,754 1,255,784
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 35,698 23,037
Taxation and social security costs 277,859 279,970
Other creditors 271,154 246,817
594,711 559,824
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 10,000 20,000
7 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 29,351 55,351
8 Related party transactions
During the year the company paid compensation of £18,192 to key management personnel and paid post employment benefits of £120,000.
9 Controlling party
The company is a wholly owned subsidiary of Pragma and Associates (Holdings) Limited, a private limited company incorporated in England and Wales.
10 Other information
Pragma and Associates Limited is a private company limited by shares and incorporated in England. Its registered office is:
8 South Parade
Doncaster
South Yorkshire
DN1 2DY
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