IRIS Accounts Production v24.3.2.46 08532365 Board of Directors 1.6.23 31.5.24 31.5.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh085323652023-05-31085323652024-05-31085323652023-06-012024-05-31085323652022-05-31085323652022-06-012023-05-31085323652023-05-3108532365ns15:EnglandWales2023-06-012024-05-3108532365ns14:PoundSterling2023-06-012024-05-3108532365ns10:Director12023-06-012024-05-3108532365ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3108532365ns10:SmallEntities2023-06-012024-05-3108532365ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3108532365ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3108532365ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3108532365ns10:FullAccounts2023-06-012024-05-310853236512023-06-012024-05-3108532365ns10:OrdinaryShareClass12023-06-012024-05-3108532365ns10:Director22023-06-012024-05-3108532365ns10:Director32023-06-012024-05-3108532365ns10:Director42023-06-012024-05-3108532365ns10:Director52023-06-012024-05-3108532365ns10:Director62023-06-012024-05-3108532365ns10:RegisteredOffice2023-06-012024-05-3108532365ns5:CurrentFinancialInstruments2024-05-3108532365ns5:CurrentFinancialInstruments2023-05-3108532365ns5:Non-currentFinancialInstruments2024-05-3108532365ns5:Non-currentFinancialInstruments2023-05-3108532365ns5:ShareCapital2024-05-3108532365ns5:ShareCapital2023-05-3108532365ns5:SharePremium2024-05-3108532365ns5:SharePremium2023-05-3108532365ns5:RetainedEarningsAccumulatedLosses2024-05-3108532365ns5:RetainedEarningsAccumulatedLosses2023-05-3108532365ns5:IntangibleAssetsOtherThanGoodwill2023-06-012024-05-3108532365ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-06-012024-05-3108532365ns5:ComputerEquipment2023-06-012024-05-3108532365ns5:IntangibleAssetsOtherThanGoodwill2023-05-3108532365ns5:IntangibleAssetsOtherThanGoodwill2024-05-3108532365ns5:IntangibleAssetsOtherThanGoodwill2023-05-3108532365ns5:ComputerEquipment2023-05-3108532365ns5:ComputerEquipment2024-05-3108532365ns5:ComputerEquipment2023-05-3108532365ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-3108532365ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-3108532365ns10:OrdinaryShareClass12024-05-31
REGISTERED NUMBER: 08532365 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Praiso Limited

Praiso Limited (Registered number: 08532365)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Praiso Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: J B Newman
L Vaughan
D S Marie
N A Walls
J P Fitzgerald
P K Waterhouse





REGISTERED OFFICE: 18 St Christopher's Way
Pride Park
Derby
Derbyshire
DE24 8JY





REGISTERED NUMBER: 08532365 (England and Wales)






Praiso Limited (Registered number: 08532365)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 520,009 588,095
Tangible assets 5 549 1,266
520,558 589,361

CURRENT ASSETS
Debtors 6 41,363 38,693
Cash at bank 14,939 6,129
56,302 44,822
CREDITORS
Amounts falling due within one year 7 287,902 221,262
NET CURRENT LIABILITIES (231,600 ) (176,440 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

288,958

412,921

CREDITORS
Amounts falling due after more than one
year

8

487,820

487,820
NET LIABILITIES (198,862 ) (74,899 )

CAPITAL AND RESERVES
Called up share capital 9 266,008 266,008
Share premium 511,596 511,596
Retained earnings (976,466 ) (852,503 )
SHAREHOLDERS' FUNDS (198,862 ) (74,899 )

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

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

Praiso Limited (Registered number: 08532365)

Balance Sheet - continued
31 May 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 February 2025 and were signed on its behalf by:





P K Waterhouse - Director


Praiso Limited (Registered number: 08532365)

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

1. STATUTORY INFORMATION

Praiso 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.

The directors have confirmed that they will continue to give financial support to the company until such time as its position improves.

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

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.

Development costs are being amortised evenly over their estimated useful life of ten years.

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 - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Praiso Limited (Registered number: 08532365)

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

2. ACCOUNTING POLICIES - continued

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 6 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2023
and 31 May 2024 658,186
AMORTISATION
At 1 June 2023 70,091
Charge for year 68,086
At 31 May 2024 138,177
NET BOOK VALUE
At 31 May 2024 520,009
At 31 May 2023 588,095

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 June 2023
and 31 May 2024 5,491
DEPRECIATION
At 1 June 2023 4,225
Charge for year 717
At 31 May 2024 4,942
NET BOOK VALUE
At 31 May 2024 549
At 31 May 2023 1,266

Praiso Limited (Registered number: 08532365)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,200 360
Other debtors 36,751 36,622
VAT - 1,466
Prepayments and accrued income 412 245
41,363 38,693

Other than as stated under directors loan account above, none of the above amounts related to amounts due from the director or shareholder of the company either directly or indirectly.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 3,490 3,348
Social security and other taxes - 1,705
VAT 3,328 -
Other creditors 148,214 103,562
Directors' current accounts 126,340 105,167
Accruals and deferred income 6,530 7,480
287,902 221,262

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Preference shares 487,820 487,820

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
266,008 Ordinary 1 266,008 266,008