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Registered Number: 08504280
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 December 2024

for

PROFORECAST LTD

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 1,242,060    1,242,060 
Tangible fixed assets 4 5,788    5,788 
1,247,848    1,247,848 
Current assets      
Debtors 5 (3,091)   42,453 
Cash at bank and in hand (1,841)   1,274 
(4,932)   43,727 
Creditors: amount falling due within one year 6 (365,851)   (302,962)
Net current assets (370,783)   (259,235)
 
Total assets less current liabilities 877,065    988,613 
Creditors: amount falling due after more than one year (653,013)   (668,640)
Net assets 224,052    319,973 
 

Capital and reserves
     
Called up share capital 137,500    137,500 
Share premium account 7 898,000    898,000 
Profit and loss account (811,448)   (715,527)
Shareholders' funds 224,052    319,973 
 


For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 04 February 2025 and were signed on its behalf by:


-------------------------------
S Katarai
Director
1
General Information
Proforecast Ltd is a private company, limited by shares, registered in England and Wales, registration number 08504280, registration address Sunderland Software Centre, Tavistock Place , Sunderland, SR1 1PB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Development expenditures
Research and development expenditure is charged to the income statement in the period in which it is incurred. However, where the directors are satisfied as to the technical, commercial and financial viability of individual projects, development expenditure is deferred and amortised over years during which the company is expected to benefit.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 6 (2023 : 6).
3.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 January 2024 1,242,060    1,242,060 
Additions  
Disposals  
At 31 December 2024 1,242,060    1,242,060 
Net book values
At 31 December 2024 1,242,060    1,242,060 
At 31 December 2023 1,242,060    1,242,060 


4.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 January 2024 5,788    5,788 
Additions  
Disposals  
At 31 December 2024 5,788    5,788 
Depreciation
At 01 January 2024  
Charge for year  
On disposals  
At 31 December 2024  
Net book values
Closing balance as at 31 December 2024 5,788    5,788 
Opening balance as at 01 January 2024 5,788    5,788 


5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 258    1,607 
Prepayments & Accrued Income (29)   (29)
Other Debtors (3,320)   40,875 
(3,091)   42,453 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 118,436    80,482 
Bank Loans & Overdrafts 36,066    40,525 
PAYE & Social Security 3,686    25,300 
Accrued Expenses 22,247    22,247 
Other Creditors 183,560    129,613 
VAT 1,856    4,795 
365,851    302,962 

7.

Share premium account

2024
£
  2023
£
Equity Share Premium b/fwd 898,000    638,000 
Equity Share Premium - New Issue   260,000 
898,000    898,000 

2