4 false false false false false false false false false false true false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2024 - FRS102_2024 14,894 5,524 1,874 7,398 7,496 9,370 xbrli:pure xbrli:shares iso4217:GBP 11962619 2023-05-01 2024-04-30 11962619 2024-04-30 11962619 2023-04-30 11962619 2022-05-01 2023-04-30 11962619 2023-04-30 11962619 2022-04-30 11962619 bus:Director1 2023-05-01 2024-04-30 11962619 bus:Director2 2023-05-01 2024-04-30 11962619 core:WithinOneYear 2024-04-30 11962619 core:WithinOneYear 2023-04-30 11962619 core:AfterOneYear 2024-04-30 11962619 core:AfterOneYear 2023-04-30 11962619 core:ShareCapital 2024-04-30 11962619 core:ShareCapital 2023-04-30 11962619 core:RetainedEarningsAccumulatedLosses 2024-04-30 11962619 core:RetainedEarningsAccumulatedLosses 2023-04-30 11962619 bus:SmallEntities 2023-05-01 2024-04-30 11962619 bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 11962619 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 11962619 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 11962619 bus:FullAccounts 2023-05-01 2024-04-30 11962619 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 11962619 core:FurnitureFittingsToolsEquipment 2024-04-30 11962619 core:FurnitureFittingsToolsEquipment 2023-04-30
COMPANY REGISTRATION NUMBER: 11962619
Prana Engineering Ltd
Filleted Unaudited Financial Statements
30 April 2024
Prana Engineering Ltd
Financial Statements
Year ended 30th April 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Prana Engineering Ltd
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
7,496
9,370
Current assets
Stocks
3,800
Debtors
6
69,675
76,589
Cash at bank and in hand
60,975
107,061
---------
---------
130,650
187,450
Creditors: amounts falling due within one year
7
104,136
120,667
---------
---------
Net current assets
26,514
66,783
--------
--------
Total assets less current liabilities
34,010
76,153
Creditors: amounts falling due after more than one year
8
8,125
15,625
Provisions
Taxation including deferred tax
1,874
1,781
--------
--------
Net assets
24,011
58,747
--------
--------
Capital and reserves
Called up share capital
20
20
Profit and loss account
23,991
58,727
--------
--------
Shareholders funds
24,011
58,747
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 30th April 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Prana Engineering Ltd
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 27 January 2025 , and are signed on behalf of the board by:
Mr T Hunter
Mr J Hellawell
Director
Director
Company registration number: 11962619
Prana Engineering Ltd
Notes to the Financial Statements
Year ended 30th April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Alex House, 260-268 Chapel Street, Salford, M3 5JZ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 3 ).
5. Tangible assets
Equipment
£
Cost
At 1st May 2023 and 30th April 2024
14,894
--------
Depreciation
At 1st May 2023
5,524
Charge for the year
1,874
--------
At 30th April 2024
7,398
--------
Carrying amount
At 30th April 2024
7,496
--------
At 30th April 2023
9,370
--------
6. Debtors
2024
2023
£
£
Trade debtors
69,675
76,589
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
7,500
7,500
Trade creditors
1,474
18,618
Social security and other taxes
75,614
89,666
Other creditors
19,548
4,883
---------
---------
104,136
120,667
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
8,125
15,625
-------
--------
9. Related party transactions
At the year end the company owed £4,635 to its directors (2023 - £1,095) No interest has been charged to the company in respect of the loan which is repayable on demand and is classified within creditors