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REGISTERED NUMBER: 10346211 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

PROCO CONSULTANTS LIMITED

PROCO CONSULTANTS LIMITED (REGISTERED NUMBER: 10346211)






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


PROCO CONSULTANTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: R Paisley
C F Powell





REGISTERED OFFICE: 45 Gloucester Street
Brighton
East Sussex
BN1 4EW





REGISTERED NUMBER: 10346211 (England and Wales)





ACCOUNTANTS: Watson Associates (Professional Services) Limited
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

PROCO CONSULTANTS LIMITED (REGISTERED NUMBER: 10346211)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 9,999 19,998
Tangible assets 5 82,024 72,132
92,023 92,130

CURRENT ASSETS
Debtors 6 2,041,809 1,867,971
Cash at bank 42,098 28,782
2,083,907 1,896,753
CREDITORS
Amounts falling due within one year 7 (2,324,310 ) (1,584,389 )
NET CURRENT (LIABILITIES)/ASSETS (240,403 ) 312,364
TOTAL ASSETS LESS CURRENT
LIABILITIES

(148,380

)

404,494

CREDITORS
Amounts falling due after more than one
year

8

-

(100,000

)
NET (LIABILITIES)/ASSETS (148,380 ) 304,494

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings (148,580 ) 304,294
SHAREHOLDERS' FUNDS (148,380 ) 304,494

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.

PROCO CONSULTANTS LIMITED (REGISTERED NUMBER: 10346211)

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 January 2025 and were signed on its behalf by:





R Paisley - Director


PROCO CONSULTANTS LIMITED (REGISTERED NUMBER: 10346211)

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

1. STATUTORY INFORMATION

Proco Consultants Limited 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.

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.

Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured
at cost less any accumulated amortisation and any accumulated impairment losses.

Intangible assets are being amortised evenly over their estimated useful life.

Tangible fixed assets
Tangible fixed assets are being amortised evenly over their estimated useful life.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


PROCO CONSULTANTS LIMITED (REGISTERED NUMBER: 10346211)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Foreign currencies
Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Income and Retained Earnings except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of Income and Retained Earnings within 'other operating income'.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

PROCO CONSULTANTS LIMITED (REGISTERED NUMBER: 10346211)

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

2. ACCOUNTING POLICIES - continued

Going concern
After reviewing the company's forecasts, projections and having assessed compliance of group wide covenants, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its consolidated financial statements.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 May 2023
and 30 April 2024 49,993
AMORTISATION
At 1 May 2023 29,995
Charge for year 9,999
At 30 April 2024 39,994
NET BOOK VALUE
At 30 April 2024 9,999
At 30 April 2023 19,998

PROCO CONSULTANTS LIMITED (REGISTERED NUMBER: 10346211)

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

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2023 1,386 137,440 138,826
Additions - 53,832 53,832
At 30 April 2024 1,386 191,272 192,658
DEPRECIATION
At 1 May 2023 1,188 65,506 66,694
Charge for year 198 43,742 43,940
At 30 April 2024 1,386 109,248 110,634
NET BOOK VALUE
At 30 April 2024 - 82,024 82,024
At 30 April 2023 198 71,934 72,132

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 135,427 56,693
Amounts owed by group undertakings 1,601,110 1,427,233
Other debtors 305,272 384,045
2,041,809 1,867,971

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 341,928 137,500
Trade creditors 104,282 34,996
Amounts owed to group undertakings 995,092 767,000
Taxation and social security 224,049 248,070
Other creditors 658,959 396,823
2,324,310 1,584,389

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 100,000

9. SECURED DEBTS

At the balance sheet date HSBC had a fixed and floating charge dated 4 August 2020 over all assets of the company.This charge was settled on 5 January 2023.

Cynergy Business Finance Limited has a fixed and floating charge over all assets belonging to the company dated 29 November 2022.

PROCO CONSULTANTS LIMITED (REGISTERED NUMBER: 10346211)

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

10. FINANCIAL INSTRUMENTS

Financial assets measured at amortised cost comprise trade debtors, amounts owed by group undertakings and other debtors.

Financial liabilities measured at amortised cost comprise trade creditors, amounts owed to group undertakings, other creditors and directors' loans.

2024 2023
£ £
Financial assets

Financial assets measured at amortised cost 2,020,931 1,843,296

Financial liabilities

Financial liabilities measured at amortised cost 2,100,261 1,336,319

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.