Registered number
08474390
Proseptic Limited
Filleted Accounts
30 April 2024
Proseptic Limited
Registered number: 08474390
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 63,896 78,332
Current assets
Stocks 18,889 11,465
Debtors 4 145,201 80,607
Cash at bank and in hand 65,138 36,056
229,228 128,128
Creditors: amounts falling due within one year 5 (316,042) (325,489)
Net current liabilities (86,814) (197,361)
Total assets less current liabilities (22,918) (119,029)
Creditors: amounts falling due after more than one year 6 (63,613) (116,759)
Net liabilities (86,531) (235,788)
Capital and reserves
Called up share capital 200 200
Profit and loss account (86,731) (235,988)
Shareholders' funds (86,531) (235,788)
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 members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
T Roach
Director
Approved by the board on 8 January 2025
Proseptic Limited
Notes to the Accounts
for the year ended 30 April 2024
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.
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:
Leasehold land and buildings over the lease term
Equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 12 12
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 21,392 104,188 45,489 171,069
Additions - 5,599 12,900 18,499
Disposals - (3,586) (4,989) (8,575)
At 30 April 2024 21,392 106,201 53,400 180,993
Depreciation
At 1 May 2023 10,696 60,091 21,950 92,737
Charge for the year 5,348 14,463 10,867 30,678
On disposals - (2,888) (3,430) (6,318)
At 30 April 2024 16,044 71,666 29,387 117,097
Net book value
At 30 April 2024 5,348 34,535 24,013 63,896
At 30 April 2023 10,696 44,097 23,539 78,332
4 Debtors 2024 2023
£ £
Trade debtors 107,428 50,331
Other debtors 37,773 30,276
145,201 80,607
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 15,331 15,331
Obligations under finance lease and hire purchase contracts - 4,683
Trade creditors 192,812 139,716
Taxation and social security costs 60,292 102,097
Other creditors 47,607 63,662
316,042 325,489
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 56,669 92,669
Obligations under finance lease and hire purchase contracts - 8,759
Falling due after one year 6,944 15,331
63,613 116,759
7 Other information
Proseptic Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 2
Dores Lane
Braishfield
Romsey
SO51 0QJ
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