Proodle Solutions Limited Filleted Accounts Cover
Proodle Solutions Limited
Company No. 10865082
Information for Filing with The Registrar
31 July 2023
Proodle Solutions Limited Directors Report Registrar
The Directors present their report and the accounts for the year ended 31 July 2023.
Principal activities
The principal activity of the company during the year under review was research and development to create education technology software.
Directors
The Directors who served at any time during the year were as follows:
Shrenik Paras Parmar
Syed Hussain
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
Shrenik Paras Parmar
Director
20 August 2024
Proodle Solutions Limited Balance Sheet Registrar
at
31 July 2023
Company No.
10865082
Notes
2023
2022
£
£
Fixed assets
Tangible assets
4
3,4013,443
3,4013,443
Current assets
Debtors
5
48217,450
Cash at bank and in hand
25,643101,601
26,125119,051
Creditors: Amount falling due within one year
6
(15,588)
(129,225)
Net current assets/(liabilities)
10,537
(10,174)
Total assets less current liabilities
13,938
(6,731)
Net assets/(liabilities)
13,938
(6,731)
Capital and reserves
Called up share capital
1,0001,000
Profit and loss account
7
12,938
(7,731)
Total equity
13,938
(6,731)
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 20 August 2024
And signed on its behalf by:
Shrenik Paras Parmar
Director
20 August 2024
Proodle Solutions Limited Notes to the Accounts Registrar
for the year ended 31 July 2023
1
General information
Its registered number is: 10865082
Its registered office is:
Ingenuity Centre Room C16
Ingenuity Lab, Triumph Road
Nottingham
Nottinghamshire
NG7 2TU
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.
Going concern
The financial statements have been prepared on the going concern basis .The principal creditor of the
company is the director Shrenik Paras Parmar, who has confirmed that he does not intend to withdraw
his financial support in the foreseeable future.
2
Accounting policies
Turnover
Turnover represents the fair value of the consideration receivable in respect of services provided during the year. Where the outcome of a transaction can be estimated reliably, revenue associated with the transaction is recognised in the income statement by reference to the stage of completion at the year end.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Furniture, fittings and equipment
25% Reducing balance
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Foreign currencies
The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.
Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the year was:
22
4
Tangible fixed assets
Fixtures, fittings and equipment
Total
£
£
Cost or revaluation
At 1 August 2022
5,3145,314
Additions
1,0081,008
At 31 July 2023
6,3226,322
Depreciation
At 1 August 2022
1,8711,871
Charge for the year
1,0501,050
At 31 July 2023
2,9212,921
Net book values
At 31 July 2023
3,4013,401
At 31 July 2022
3,4433,443
5
Debtors
2023
2022
£
£
Trade debtors
-17,450
VAT recoverable
482-
48217,450
6
Creditors:
amounts falling due within one year
2023
2022
£
£
Trade creditors
-7,757
Other taxes and social security
-9,662
Loans from directors
15,01961,126
Accruals and deferred income
56950,680
15,588129,225
7
Reserves
Profit and loss account - includes all current and prior period retained profits and losses.
8
Related party disclosures
2023
2022
Transactions with related parties
£
£
Name of related party
Shrenik Paras Parmar
Description of relationship between the parties
Director
Description of transaction and general amounts involved
Loan account
Amount due from/(to) the related party
34,981
(61,226)
Provision for doubtful debts due from the related party
-
-
Amounts written off in the period in respect of debts from/(to) the related party
-
-
9
Directors Loan Account
The loan of £50,000 from the director Shrenik Paras Parmar is unsecured and bears interest at a commercial rate.
Repayment of the loan is subordinated to the payment of all other creditors of the company.
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