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Registration number: 02965726

Provek Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Provek Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Provek Limited

(Registration number: 02965726)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

11,055

10,169

Current assets

 

Debtors

6

504,703

488,439

Cash at bank and in hand

 

203,405

236,585

 

708,108

725,024

Creditors: Amounts falling due within one year

7

(417,015)

(447,748)

Net current assets

 

291,093

277,276

Net assets

 

302,148

287,445

Capital and reserves

 

Called up share capital

222

222

Retained earnings

301,926

287,223

Shareholders' funds

 

302,148

287,445

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.

Directors' 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 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.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 December 2024 and signed on its behalf by:
 

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

 

Provek 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.

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.

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.

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.
The company website costs have been reclassified from tangible fixed assets to intangible assets in the 2022 accounts.

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

Fixtures and fitting

15% straight line

Office equipment

15% straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

Provek Limited

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

Asset class

Amortisation method and rate

Website

33.3% straight line

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 24 (2023 - 22).

 

Provek 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

141,227

141,227

At 31 July 2024

141,227

141,227

Amortisation

At 1 August 2023

141,227

141,227

At 31 July 2024

141,227

141,227

Carrying amount

At 31 July 2024

-

-

5

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 August 2023

5,000

58,916

63,916

Additions

-

7,567

7,567

Disposals

-

(4,086)

(4,086)

At 31 July 2024

5,000

62,397

67,397

Depreciation

At 1 August 2023

5,000

48,750

53,750

Charge for the year

-

4,345

4,345

Eliminated on disposal

-

(1,753)

(1,753)

At 31 July 2024

5,000

51,342

56,342

Carrying amount

At 31 July 2024

-

11,055

11,055

At 31 July 2023

-

10,169

10,169

 

Provek Limited

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

6

Debtors

Current

2024
£

2023
£

Trade debtors

277,281

348,066

Prepayments

30,642

41,359

Other debtors

196,780

99,014

 

504,703

488,439

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

63,499

88,393

Taxation and social security

128,595

109,518

Other creditors

224,921

249,837

417,015

447,748

8

Other information

Provek Limited is a wholly owned subsidiary of Provek Holdings Limited whose registered office is:
1C Abbey Road
OXFORD
OX2 0AD