2023-06-012024-05-312024-05-31false12601574PROSPER BUSINESS FINANCE 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PROSPER BUSINESS FINANCE LIMITED

Registered Number
12601574
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

PROSPER BUSINESS FINANCE LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

Neil Fullbrook

Registered Address

2 Upperton Gardens
Eastbourne
BN21 2AH

Registered Number

12601574 (England and Wales)
PROSPER BUSINESS FINANCE LIMITED
Statement of Financial Position
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3530683
530683
Current assets
Debtors5364258
Cash at bank and on hand-4,669
3644,927
Creditors amounts falling due within one year6(124)(3,599)
Net current assets (liabilities)2401,328
Total assets less current liabilities7702,011
Net assets7702,011
Capital and reserves
Called up share capital44
Profit and loss account7662,007
Shareholders' funds7702,011
The financial statements were approved and authorised for issue by the Director on 18 February 2025, and are signed on its behalf by:
Neil Fullbrook
Director
Registered Company No. 12601574
PROSPER BUSINESS FINANCE LIMITED
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 June 23953953
Additions2020
At 31 May 24973973
Depreciation and impairment
At 01 June 23270270
Charge for year173173
At 31 May 24443443
Net book value
At 31 May 24530530
At 31 May 23683683
4.Stocks
5.Debtors: amounts due within one year

2024

2023

££
Other debtors3642
Prepayments and accrued income-256
Total364258
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts6-
Taxation and social security-367
Other creditors-3,232
Accrued liabilities and deferred income118-
Total1243,599
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.