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Registration number: 08781543

Provek Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Provek Holdings Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Provek Holdings Limited

(Registration number: 08781543)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

65,773

Investments

5

94,210

94,210

 

94,210

159,983

Current assets

 

Debtors

6

898,228

581,731

Cash at bank and in hand

 

509,634

841,884

 

1,407,862

1,423,615

Creditors: Amounts falling due within one year

7

(33,056)

(405,212)

Net current assets

 

1,374,806

1,018,403

Net assets

 

1,469,016

1,178,386

Capital and reserves

 

Called up share capital

100

100

Retained earnings

1,468,916

1,178,286

Shareholders' funds

 

1,469,016

1,178,386

 

Provek Holdings Limited

(Registration number: 08781543)
Balance Sheet as at 31 July 2024

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

Director's responsibilities:

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

The director acknowledges his 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 21 November 2024
 

.........................................
Mr A Delo
Director

 

Provek Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 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:
1c Abbey Road
Oxford
OX2 0AD

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax payable.

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.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Provek Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Intangible assets

Intangible assets are held at their revalued amount, on the basis of there being an active market for these assets.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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 the director) during the year, was 0 (2023 - 0).

 

Provek Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 August 2023 (as restated)

65,773

65,773

Disposals

(65,773)

(65,773)

At 31 July 2024

-

-

Amortisation

Carrying amount

At 31 July 2024

-

-

At 31 July 2023

65,773

65,773

5

Investments

2024
£

2023
£

Investments in subsidiaries

94,210

94,210

Subsidiaries

£

Cost or valuation

At 1 August 2023

94,210

Provision

Carrying amount

At 31 July 2024

94,210

At 31 July 2023

94,210

6

Debtors

Current

2024
£

2023
£

Other debtors

898,228

581,731

 

898,228

581,731

 

Provek Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

31,844

-

Other creditors

1,212

405,212

33,056

405,212

8

Related party transactions

Transactions with the director

2024

At 1 August 2023
£

Advances to director
£

Other payments made to company by director
£

At 31 July 2024
£

Mr A Delo

Interest free loan from director

404,000

(807,048)

201,995

(201,053)

2023

At 1 August 2022
£

Advances to director
£

Other payments made to company by director
£

At 31 July 2023
£

Mr A Delo

Interest free loan from director

450,000

(880,000)

834,000

404,000

Summary of transactions with joint ventures

MACPRO Developments Limited.
 The company has a 50% shareholding in MACPRO Developments Limited.
 

 

Provek Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Loans with related parties

2024

Joint ventures
£

Total
£

At start of period

382,502

382,502

Repaid

(382,502)

(382,502)

At end of period

-

-

2023

Joint ventures
£

Total
£

At start of period

818,766

818,766

Advanced

1,171,212

1,171,212

Repaid

(1,607,476)

(1,607,476)

At end of period

382,502

382,502

Terms of loans with related parties

The loan with MACPRO Developments Limited is interest-free and repayable on demand.