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Registration number: 14676325

Prodas Services Ltd

Annual Report and

Unaudited Financial Statements


for the Period from 20 February 2023 to 31 March 2024

 

Prodas Services Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 7

 

Prodas Services Ltd

Company Information

Directors

Mrs S M Lewis

Mr CA Lewis

Mr A J Lewis

Registered office



Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

 

Bankers

Starling Bank
5th Floor
London Fruit and Wool Exchange
1 Duval Square
London
E1 6PW

Accountants



W J James & Co
Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

 

Prodas Services Ltd

(Registration number: 14676325)

Balance Sheet
as at 31 March 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

116,233

Current assets

 

Stocks

5

25,300

Cash at bank and in hand

 

46,371

 

71,671

Creditors: Amounts falling due within one year

6

(80,661)

Net current liabilities

 

(8,990)

Net assets

 

107,243

Capital and reserves

 

Called up share capital

2

Profit and loss account

107,241

Total equity

 

107,243

For the financial period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The profit and loss account and directors' report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Prodas Services Ltd

(Registration number: 14676325)

Balance Sheet
as at 31 March 2024

Approved and authorised by the Board on 19 November 2024 and signed on its behalf by:
 

.........................................

Mrs S M Lewis

Director

.........................................

Mr CA Lewis

Director

 

Prodas Services Ltd

Notes to the Financial Statements
for the Period from 20 February 2023 to 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG
United Kingdom

These financial statements were authorised for issue by the Board on 19 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Prodas Services Ltd

Notes to the Financial Statements
for the Period from 20 February 2023 to 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

 

Prodas Services Ltd

Notes to the Financial Statements
for the Period from 20 February 2023 to 31 March 2024

4

Tangible assets

Land and buildings
£

Office equipment
£

Total
£

Cost or valuation

Additions

115,364

1,204

116,568

At 31 March 2024

115,364

1,204

116,568

Depreciation

Charge for the period

-

335

335

At 31 March 2024

-

335

335

Carrying amount

At 31 March 2024

115,364

869

116,233

Included within the net book value of land and buildings above is £115,364 in respect of freehold land and buildings.
 

5

Stocks

2024
£

Work in progress

25,300

6

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Taxation and social security

1,684

Accruals and deferred income

2,500

Other creditors

76,477

80,661

 

Prodas Services Ltd

Notes to the Financial Statements
for the Period from 20 February 2023 to 31 March 2024

7

Share capital

Allotted, called up and fully paid shares

 

2024

 

No.

£

Ordinary share capital of £1 each

2

2