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REGISTERED NUMBER: 08330391 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Prodoca Ltd

Prodoca Ltd (Registered number: 08330391)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Prodoca Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mrs F A Gordon





SECRETARY: Grosvenor Secretaries Limited





REGISTERED OFFICE: Ground Floor, 123 Pall Mall
St James's
London
SW1Y 5EA





REGISTERED NUMBER: 08330391 (England and Wales)






Prodoca Ltd (Registered number: 08330391)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes $ $ $ $
FIXED ASSETS
Investments 4 4,758,199 4,758,199
Investment property 5 112,987 112,987
4,871,186 4,871,186

CURRENT ASSETS
Debtors 6 43,100 42,392
Cash at bank 15,476 25,978
58,576 68,370
CREDITORS
Amounts falling due within one year 7 6,593,620 5,903,249
NET CURRENT LIABILITIES (6,535,044 ) (5,834,879 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,663,858

)

(963,693

)

CAPITAL AND RESERVES
Called up share capital 153 153
Other reserves 274,036 274,036
Retained earnings (1,938,047 ) (1,237,882 )
SHAREHOLDERS' FUNDS (1,663,858 ) (963,693 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Prodoca Ltd (Registered number: 08330391)

Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 September 2024 and were signed by:





Mrs F A Gordon - Director


Prodoca Ltd (Registered number: 08330391)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Prodoca Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The functional and presentation currency of the company is Australian Dollars.

Significant judgements and estimates
The interest rates are chosen using information available from the Swiss fiscal authorities prescribed for interest free financing involving participators.

Investments in associates
Investment in associate is measured at cost less any accumulated impairment losses.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Prodoca Ltd (Registered number: 08330391)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Going concern
The director has prepared the financial statements on the going concern basis. This is considered appropriate as the company's shareholders and creditors will continue to provide financial support to the company for the foreseeable future. Should the company be unable to continue with its principal activity of holding and managing investments, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for any further liabilities which might arise.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. FIXED ASSET INVESTMENTS
Interest in
associate
$
COST
At 1 January 2023
and 31 December 2023 4,758,199
NET BOOK VALUE
At 31 December 2023 4,758,199
At 31 December 2022 4,758,199

5. INVESTMENT PROPERTY
Total
$
FAIR VALUE
At 1 January 2023
and 31 December 2023 112,987
NET BOOK VALUE
At 31 December 2023 112,987
At 31 December 2022 112,987

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
$ $
Amounts owed by associates 21,039 20,331
Other debtors 22,061 22,061
43,100 42,392

Prodoca Ltd (Registered number: 08330391)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
$ $
Amounts owed to group undertakings 6,593,473 5,903,102
Other creditors 147 147
6,593,620 5,903,249

8. RELATED PARTY DISCLOSURES

The amount disclosed in the note 8, comprises interest bearing loan due to the parent company. The rate of interest of 1.5% for CHF denominated loan per annum was chosen, using the element of judgement, and information available from the Swiss fiscal authorities, prescribed for interest free financing involving participators.

9. ULTIMATE CONTROLLING PARTY

The ultimate parent company and the ultimate controlling party is Korinto S.A., registered at c/o Cortesi & Associati, Via Cantonale 19, 6900 Lugano - Switzerland.