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REGISTERED NUMBER: 02470110 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

PROSCENEIUM LIMITED

PROSCENEIUM LIMITED (REGISTERED NUMBER: 02470110)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROSCENEIUM LIMITED

COMPANY INFORMATION
for the Year Ended 29 February 2024







DIRECTORS: R D Kershaw
D G Kershaw





REGISTERED OFFICE: Sladen Wood Mill
Todmorden Road Littleborough
Rochdale
Lancashire
OL15 9EW





REGISTERED NUMBER: 02470110 (England and Wales)





ACCOUNTANTS: BP & Co Chartered Accountants
Enterprise House
2 Pass Street
Oldham
Lancashire
OL9 6HZ

PROSCENEIUM LIMITED (REGISTERED NUMBER: 02470110)

BALANCE SHEET
29 February 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 94,916 103,852

CURRENT ASSETS
Debtors 5 52,544 78,110
Cash at bank and in hand 107,893 64,729
160,437 142,839
CREDITORS
Amounts falling due within one year 6 (212,284 ) (235,265 )
NET CURRENT LIABILITIES (51,847 ) (92,426 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

43,069

11,426

CREDITORS
Amounts falling due after more than one
year

7

(52,335

)

(65,035

)

PROVISIONS FOR LIABILITIES (1,455 ) (2,194 )
NET LIABILITIES (10,721 ) (55,803 )

CAPITAL AND RESERVES
Called up share capital 9 15,002 15,002
Retained earnings (25,723 ) (70,805 )
SHAREHOLDERS' FUNDS (10,721 ) (55,803 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

PROSCENEIUM LIMITED (REGISTERED NUMBER: 02470110)

BALANCE SHEET - continued
29 February 2024


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 Board of Directors and authorised for issue on 8 October 2024 and were signed on its behalf by:





R D Kershaw - Director


PROSCENEIUM LIMITED (REGISTERED NUMBER: 02470110)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Prosceneium Limited 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.

Significant judgements and estimates
Previously, Prosceneium Limited depreciated plant and machinery using the reducing balance method at 6% per annum. At the most recent review of assets, the directors decided that this rate of depreciation no longer reflected the diminishing value of the assets and that a higher depreciation rate of 75% would be more suitable. The company has therefore changed the depreciation for plant and machinery from 1 March 2020 to 75% per annum using the reducing balance method.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 75% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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.

PROSCENEIUM LIMITED (REGISTERED NUMBER: 02470110)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Long to Plant and
leasehold property machinery
£    £    £   
COST
At 1 March 2023 111,362 1,275 1,046,152
Additions - - -
At 29 February 2024 111,362 1,275 1,046,152
DEPRECIATION
At 1 March 2023 24,498 1,274 1,040,036
Charge for year 2,228 - 4,586
At 29 February 2024 26,726 1,274 1,044,622
NET BOOK VALUE
At 29 February 2024 84,636 1 1,530
At 28 February 2023 86,864 1 6,116

PROSCENEIUM LIMITED (REGISTERED NUMBER: 02470110)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2023 12,253 97,177 7,350 1,275,569
Additions 257 - - 257
At 29 February 2024 12,510 97,177 7,350 1,275,826
DEPRECIATION
At 1 March 2023 9,776 88,867 7,266 1,171,717
Charge for year 274 2,077 28 9,193
At 29 February 2024 10,050 90,944 7,294 1,180,910
NET BOOK VALUE
At 29 February 2024 2,460 6,233 56 94,916
At 28 February 2023 2,477 8,310 84 103,852

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 40,409 43,688
Other debtors 12,135 34,422
52,544 78,110

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 14,335 12,943
Trade creditors 8,124 8,192
Taxation and social security 32,138 44,174
Other creditors 157,687 169,956
212,284 235,265

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 52,335 65,035

PROSCENEIUM LIMITED (REGISTERED NUMBER: 02470110)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 8,108 10,546

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 66,670 77,978

Included in bank loans is an amount of £28,584, which is secured by directors' personal guarantees, a debenture on the assets of the company and a first legal charge on the company's leasehold property.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
15,000 Ordinary £1 15,000 15,000
100 A Ordinary £0.01 1 1
100 B Ordinary £0.01 1 1
15,002 15,002

10. RELATED PARTY DISCLOSURES

The company owes Thomas Kershaw Builders Ltd. which is a company under common control the amount of £135,350 at the year end (£144,714- 2023).