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REGISTERED NUMBER: 13933656 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

PROSEEDTECHNOLOGY LTD

PROSEEDTECHNOLOGY LTD (REGISTERED NUMBER: 13933656)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROSEEDTECHNOLOGY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: C T Marshall
L Oades





SECRETARY: C T Marshall





REGISTERED OFFICE: 90 Luttongate
Gedney Hill
Spalding
Lincolnshire
PE12 0QH





REGISTERED NUMBER: 13933656 (England and Wales)





ACCOUNTANTS: Wheelers
Chartered Accountants & Tax Consultants
27-29 Old Market
Wisbech
Cambridgeshire
PE13 1NE

PROSEEDTECHNOLOGY LTD (REGISTERED NUMBER: 13933656)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 92,016 64,288

CURRENT ASSETS
Stocks 58,122 92,774
Debtors 5 15,092 37,721
Cash at bank 175,160 193,165
248,374 323,660
CREDITORS
Amounts falling due within one year 6 261,612 318,672
NET CURRENT (LIABILITIES)/ASSETS (13,238 ) 4,988
TOTAL ASSETS LESS CURRENT
LIABILITIES

78,778

69,276

PROVISIONS FOR LIABILITIES 22,900 16,000
NET ASSETS 55,878 53,276

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 55,778 53,176
SHAREHOLDERS' FUNDS 55,878 53,276

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PROSEEDTECHNOLOGY LTD (REGISTERED NUMBER: 13933656)

BALANCE SHEET - continued
30 APRIL 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 January 2025 and were signed on its behalf by:




C T Marshall - Director



L Oades - Director


PROSEEDTECHNOLOGY LTD (REGISTERED NUMBER: 13933656)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Proseedtechnology Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

At the balance sheet date the company had net current liabilities of £13,238 by virtue of its total current liabilities exceeding its total current assets. The directors are confident that the going concern basis for the preparation of the financial statements is appropriate, and have confirmed their continuing support for the company in writing.

Turnover
Turnover represents the sales value of goods and services supplied, excluding value added tax, adjusted for ongoing contracts that are long term or material in relation to turnover and profits in accordance with FRS 102 Section 12 as detailed in the long term contract accounting policy.

Turnover in relation to annual service contracts is apportioned on a straight line basis and recognised in the period to which they relate.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% reducing balance
Motor vehicles - 20% reducing balance
Computer equipment - 20% reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


PROSEEDTECHNOLOGY LTD (REGISTERED NUMBER: 13933656)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Long term contracts
Amounts recoverable on contracts, which are included in debtors, are stated at cost plus attributable profit to the extent that this is reasonably certain after making provisions for contingencies less any losses incurred or foreseen in bringing contracts to completion, and less amounts received as progress payments. Cost for this purpose includes material costs and all overheads other than those relating to the general administration of the company. For any contracts where receipts exceed book value of work done, the excess is included in creditors as payments on account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2023 4,275 63,525 841 68,641
Additions 9,728 32,755 - 42,483
At 30 April 2024 14,003 96,280 841 111,124
DEPRECIATION
At 1 May 2023 189 4,108 56 4,353
Charge for year 1,622 12,976 157 14,755
At 30 April 2024 1,811 17,084 213 19,108
NET BOOK VALUE
At 30 April 2024 12,192 79,196 628 92,016
At 30 April 2023 4,086 59,417 785 64,288

PROSEEDTECHNOLOGY LTD (REGISTERED NUMBER: 13933656)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 8,471 2,289
Amounts recoverable on contract - 30,150
Other debtors 6,621 5,282
15,092 37,721

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Payments on account - 38,970
Trade creditors 25,276 39,933
Taxation and social security - 25,022
Other creditors 236,336 214,747
261,612 318,672