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REGISTERED NUMBER: 06911985 (England and Wales)
























Unaudited Financial Statements

for the Year Ended 30 May 2024

for

PROLA LIMITED

PROLA LIMITED (REGISTERED NUMBER: 06911985)






Contents of the Financial Statements
for the Year Ended 30 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


PROLA LIMITED

Company Information
for the Year Ended 30 May 2024







DIRECTORS: O Flannagan
Mrs R Flannagan



REGISTERED OFFICE: 573 Chester Road
Sutton Coldfield
West Midlands
B73 5HU



REGISTERED NUMBER: 06911985 (England and Wales)



ACCOUNTANTS: A K Papadamou & Co
Accountants & Tax Advisors
573 Chester Road
Sutton Coldfield
West Midlands
B73 5HU



BANKERS: NatWest
Gloucester
GL1 1NH

PROLA LIMITED (REGISTERED NUMBER: 06911985)

Statement of Financial Position
30 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 276,867 284,067

CURRENT ASSETS
Stocks 15,752 10,952
Debtors 5 567,239 88,633
Cash at bank 184,998 94,458
767,989 194,043
CREDITORS
Amounts falling due within one year 6 762,741 287,844
NET CURRENT ASSETS/(LIABILITIES) 5,248 (93,801 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

282,115

190,266

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 282,113 190,264
SHAREHOLDERS' FUNDS 282,115 190,266

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 May 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.

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 3 September 2024 and were signed on its behalf by:





O Flannagan - Director


PROLA LIMITED (REGISTERED NUMBER: 06911985)

Notes to the Financial Statements
for the Year Ended 30 May 2024

1. STATUTORY INFORMATION

Prola 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.

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.
Fixtures and fittings -10% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

PROLA LIMITED (REGISTERED NUMBER: 06911985)

Notes to the Financial Statements - continued
for the Year Ended 30 May 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 31 May 2023 196,507 50,705 63,390 310,602
Additions - 7,349 - 7,349
At 30 May 2024 196,507 58,054 63,390 317,951
DEPRECIATION
At 31 May 2023 - 13,737 12,798 26,535
Charge for year - 4,431 10,118 14,549
At 30 May 2024 - 18,168 22,916 41,084
NET BOOK VALUE
At 30 May 2024 196,507 39,886 40,474 276,867
At 30 May 2023 196,507 36,968 50,592 284,067

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 537,266 73,436
Other debtors 29,973 15,197
567,239 88,633

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 65,099 70,083
Hire purchase contracts 1,973 5,917
Trade creditors 417,726 3,096
Taxation and social security 6,193 1,476
Other creditors 271,750 207,272
762,741 287,844