Registered number
13009883
Proovia Couriers Ltd
Filleted Accounts
30 November 2023
Proovia Couriers Ltd
Registered number: 13009883
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 535,723 174,402
Tangible assets 4 227,030 211,968
762,753 386,370
Current assets
Debtors 5 111,132 484,136
Cash at bank and in hand 176,547 80,895
287,679 565,031
Creditors: amounts falling due within one year 6 (634,847) (596,766)
Net current liabilities (347,168) (31,735)
Total assets less current liabilities 415,585 354,635
Creditors: amounts falling due after more than one year 7 (64,179) (89,410)
Provisions for liabilities (56,758) -
Net assets 294,648 265,225
Capital and reserves
Called up share capital 100 100
Profit and loss account 294,548 265,125
Shareholder's funds 294,648 265,225
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Elena Rusu
Director
Approved by the board on 19 November 2024
Proovia Couriers Ltd
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery, etc 25% on reducing balance basis
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 1
3 Intangible fixed assets £
Software Development/Domain Name:
Cost
At 1 December 2022 183,581
Additions 390,000
At 30 November 2023 573,581
Amortisation
At 1 December 2022 9,179
Provided during the year 28,679
At 30 November 2023 37,858
Net book value
At 30 November 2023 535,723
At 30 November 2022 174,402
Both intangible assets are being written off in equal annual instalments over their estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 December 2022 4,147 278,477 282,624
Additions 6,240 84,500 90,740
At 30 November 2023 10,387 362,977 373,364
Depreciation
At 1 December 2022 1,037 69,619 70,656
Charge for the year 2,338 73,340 75,678
At 30 November 2023 3,375 142,959 146,334
Net book value
At 30 November 2023 7,012 220,018 227,030
At 30 November 2022 3,110 208,858 211,968
5 Debtors 2023 2022
£ £
Trade debtors 36,952 60,864
Amounts owed by group undertakings and undertakings in which the company has a participating interest 54,688 403,562
Other debtors 19,492 19,710
111,132 484,136
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 50,000 -
Obligations under finance lease and hire purchase contracts 25,176 25,191
Trade creditors 238,400 3,570
Taxation and social security costs 96,424 106,577
Other creditors 224,847 461,428
634,847 596,766
7 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 64,179 89,410
8 Controlling party
The sole director and shareholder, Elena Rusu, has immediate and ultimate control of the company.
9 Other information
Proovia Couriers Ltd is a private company limited by shares and incorporated in England. Its registered office is at:
Units 115-119, Fort Dunlop, Office 110, Fort Parkway, Birmingham, B24 9FE
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