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REGISTERED NUMBER: 08821665 (England and Wales)















Proxy Ventures Uk Limited

Financial Statements

for the Year Ended 31 March 2024






Proxy Ventures Uk Limited (Registered number: 08821665)

Contents of the Financial Statements
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Proxy Ventures Uk Limited

Company Information
for the year ended 31 March 2024







Directors: M K Bovellan
A H Bovellan





Registered office: One
Glass Wharf
Bristol
BS2 0ZX





Registered number: 08821665 (England and Wales)






Proxy Ventures Uk Limited (Registered number: 08821665)

Balance Sheet
31 March 2024

2024 2023
Notes £ £ £ £
Fixed assets
Intangible assets 4 - -
Tangible assets 5 372 2,333
372 2,333

Current assets
Debtors 6 23,057 66,302
Cash at bank 92,831 83,849
115,888 150,151
Creditors
Amounts falling due within one year 7 72,114 109,389
Net current assets 43,774 40,762
Total assets less current liabilities 44,146 43,095

Provisions for liabilities - 444
Net assets 44,146 42,651

Capital and reserves
Called up share capital 100 100
Retained earnings 44,046 42,551
44,146 42,651

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Proxy Ventures Uk Limited (Registered number: 08821665)

Balance Sheet - continued
31 March 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 12 November 2024 and were signed on its behalf by:





M K Bovellan - Director


Proxy Ventures Uk Limited (Registered number: 08821665)

Notes to the Financial Statements
for the year ended 31 March 2024


1. Statutory information

Proxy Ventures Uk 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of value added taxes. Turnover includes revenue earned from the provision services and is recognised at the point of invoice.

Intangible assets
Intangible assets relate to the creation of the company's website. It is amortised to the profit and loss account over its estimated economic life of 4 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 20% on cost

Financial instruments
Debtors and creditors which are due within one year are recorded at transaction price, less any impairment.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Proxy Ventures Uk Limited (Registered number: 08821665)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


2. Accounting policies - continued

Going concern
These financial statements have been prepared on a going concern basis.

The current economic conditions present increased risks for all businesses. In response to such conditions, the directors have carefully considered these risks including an assessment on uncertainty on future trading projection for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

Based on assessment, the directors considered that the Company maintains an appropriate level of liquidity, sufficient to meet the demands of the business including any capital and servicing obligations and external debt liabilities.

In addition, the Company's assets are assessed for recoverability on a regular basis, and the directors considered that the Company is not exposed to losses on these assets which would affect their decision to adopt the going concern basis.

The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubts upon the Company's ability to continue as a going concern. Thus the directors have continued to adopt the going concern basis of accounting in preparing these financial statements

3. Employees and directors

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

4. Intangible fixed assets
Development
costs
£
Cost
At 1 April 2023
and 31 March 2024 6,000
Amortisation
At 1 April 2023
and 31 March 2024 6,000
Net book value
At 31 March 2024 -
At 31 March 2023 -

Proxy Ventures Uk Limited (Registered number: 08821665)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


5. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£ £ £
Cost
At 1 April 2023
and 31 March 2024 5,719 18,905 24,624
Depreciation
At 1 April 2023 5,369 16,922 22,291
Charge for year 281 1,680 1,961
At 31 March 2024 5,650 18,602 24,252
Net book value
At 31 March 2024 69 303 372
At 31 March 2023 350 1,983 2,333

6. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 23,057 15,000
Amounts owed by group undertakings - 51,302
23,057 66,302

7. Creditors: amounts falling due within one year
2024 2023
£ £
Amounts owed to group undertakings 69,899 106,201
Tax - 973
Directors' loan accounts 2,215 2,215
72,114 109,389