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REGISTERED NUMBER: 07794156 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 October 2024

for

Improving Procurement Ltd

Improving Procurement Ltd (Registered number: 07794156)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Improving Procurement Ltd

Company Information
for the Year Ended 31 October 2024







DIRECTORS: M S Klonowski
Miss N Cruise





REGISTERED OFFICE: 16 Blackthorne Avenue
Burntwood
Chase Town
Staffordshire
WS7 4YJ





BUSINESS ADDRESS: 16 Blackthorne Avenue
Burntwood
Chasetown
Staffordshire
WS7 4YJ





REGISTERED NUMBER: 07794156 (England and Wales)





ACCOUNTANTS: Dalton Pardoe Limited
Chartered Accountants
794 High Street
Kingswinford
West Midlands
DY6 8BQ

Improving Procurement Ltd (Registered number: 07794156)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 389 -

CURRENT ASSETS
Debtors 5 22,468 -
Cash at bank 12,208 41,734
34,676 41,734
CREDITORS
Amounts falling due within one year 6 28,967 27,064
NET CURRENT ASSETS 5,709 14,670
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,098

14,670

CREDITORS
Amounts falling due after more than one year 7 3,960 -
NET ASSETS 2,138 14,670

CAPITAL AND RESERVES
Called up share capital 8 100 1
Retained earnings 9 2,038 14,669
SHAREHOLDERS' FUNDS 2,138 14,670

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

Improving Procurement Ltd (Registered number: 07794156)

Balance Sheet - continued
31 October 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 February 2025 and were signed on its behalf by:





M S Klonowski - Director


Improving Procurement Ltd (Registered number: 07794156)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Improving Procurement 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

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.

3. EMPLOYEES AND DIRECTORS

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

Improving Procurement Ltd (Registered number: 07794156)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 November 2023 1,268
Additions 778
At 31 October 2024 2,046
DEPRECIATION
At 1 November 2023 1,268
Charge for year 389
At 31 October 2024 1,657
NET BOOK VALUE
At 31 October 2024 389
At 31 October 2023 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Directors' current accounts 22,468 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts 2,057 9,862
Tax 17,605 8,356
Social security and other taxes 186 334
VAT 7,879 7,770
Directors' current accounts - 208
Accrued expenses 1,240 534
28,967 27,064

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Bank loans - 1-2 years 3,960 -

Improving Procurement Ltd (Registered number: 07794156)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.24 31.10.23
value: £    £   
100 Ordinary £1 100 1

99 Ordinary shares of £1 each were allotted and fully paid for cash at par during the year.

9. RESERVES
Retained
earnings
£   

At 1 November 2023 14,669
Profit for the year 63,369
Dividends (76,000 )
At 31 October 2024 2,038

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2024 and 31 October 2023:

31.10.24 31.10.23
£    £   
M S Klonowski
Balance outstanding at start of year - 17,070
Amounts advanced 22,468 -
Amounts repaid - (17,070 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 22,468 -

11. RELATED PARTY DISCLOSURES

The company paid dividends to its director in the year under review as follows:

M Klonowski £38,000
Miss N Cruise £38,000

12. ULTIMATE CONTROLLING PARTY

The controlling party is M S Klonowski.