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Registration number: 12586562

Prodelex Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

(filleted for filing purposes)

 

Prodelex Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Prodelex Limited

Company Information

Director

J A Aherne

Registered office

The New Barn Mill Lane
Eastry
Sandwich
Kent
CT13 0JW

 

Prodelex Limited

(Registration number: 12586562)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,605

971

Current assets

 

Debtors

5

3,112

2,428

Cash at bank and in hand

 

30,274

6,072

 

33,386

8,500

Creditors: Amounts falling due within one year

6

(31,910)

(5,904)

Net current assets

 

1,476

2,596

Total assets less current liabilities

 

3,081

3,567

Provisions for liabilities

(401)

(184)

Net assets

 

2,680

3,383

Capital and reserves

 

Called up share capital

7

306

306

Retained earnings

2,374

3,077

Shareholders' funds

 

2,680

3,383

For the financial year ending 31 May 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 9 January 2025
 

.........................................
J A Aherne
Director

 

Prodelex Limited

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

1

General information

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

The address of its registered office is:
The New Barn Mill Lane
Eastry
Sandwich
Kent
CT13 0JW
England

These financial statements were authorised for issue by the director on 9 January 2025.

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 and deferred 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.

 

Prodelex Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

15% on written down value

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.

Trade debtors

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

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.

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.

 

Prodelex Limited

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

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 June 2023

1,414

1,414

Additions

916

916

At 31 May 2024

2,330

2,330

Depreciation

At 1 June 2023

443

443

Charge for the year

282

282

At 31 May 2024

725

725

Carrying amount

At 31 May 2024

1,605

1,605

At 31 May 2023

971

971

5

Debtors

Current

2024
£

2023
£

Prepayments

-

383

Other debtors

3,112

2,045

 

3,112

2,428

 

Prodelex Limited

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

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

-

60

Taxation and social security

 

10,442

165

Other creditors

 

21,468

5,679

 

31,910

5,904

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary share of £1 each

300

300

300

300

Ordinary A share of £1 each

1

1

1

1

Ordinary B share of £1 each

1

1

1

1

Ordinary C share of £1 each

1

1

1

1

Ordinary D share of £1 each

1

1

1

1

Ordinary E share of £1 each

1

1

1

1

Ordinary F share of £1 each

1

1

1

1

 

306

306

306

306