Acorah Software Products - Accounts Production 16.1.300 false true 31 July 2022 1 August 2021 false 1 August 2022 31 July 2023 31 July 2023 12128468 Mr Dragos Iacob iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12128468 2022-07-31 12128468 2023-07-31 12128468 2022-08-01 2023-07-31 12128468 frs-core:CurrentFinancialInstruments 2023-07-31 12128468 frs-core:Non-currentFinancialInstruments 2023-07-31 12128468 frs-core:ShareCapital 2023-07-31 12128468 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 12128468 frs-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 12128468 frs-bus:FilletedAccounts 2022-08-01 2023-07-31 12128468 frs-bus:SmallEntities 2022-08-01 2023-07-31 12128468 frs-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 12128468 frs-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 12128468 frs-bus:Director1 2022-08-01 2023-07-31 12128468 frs-countries:EnglandWales 2022-08-01 2023-07-31 12128468 2021-07-31 12128468 2022-07-31 12128468 2021-08-01 2022-07-31 12128468 frs-core:CurrentFinancialInstruments 2022-07-31 12128468 frs-core:Non-currentFinancialInstruments 2022-07-31 12128468 frs-core:ShareCapital 2022-07-31 12128468 frs-core:RetainedEarningsAccumulatedLosses 2022-07-31
Registered number: 12128468
PRO VENTILATION SYSTEMS LTD
Unaudited Financial Statements
For The Year Ended 31 July 2023
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 12128468
2023 2022
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 84,028 91,730
Cash at bank and in hand - 4,015
84,028 95,745
Creditors: Amounts Falling Due Within One Year 5 (20,592 ) (22,008 )
NET CURRENT ASSETS (LIABILITIES) 63,436 73,737
TOTAL ASSETS LESS CURRENT LIABILITIES 63,436 73,737
Creditors: Amounts Falling Due After More Than One Year 6 (47,774 ) (50,000 )
NET ASSETS 15,662 23,737
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 15,562 23,637
SHAREHOLDERS' FUNDS 15,662 23,737
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Dragos Iacob
Director
12/10/2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
PRO VENTILATION SYSTEMS LTD is a private company, limited by shares, incorporated in England & Wales, registered number 12128468 . The registered office is Flat1 Station Road, Chesham, HP5 1DH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: 5)
- 5
Page 2
Page 3
4. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,892 23,569
PAYE and CIS control 19,429 21,938
Amounts owed by participating interests 62,707 -
Other debtors - 5,193
84,028 50,700
Due after more than one year
Amounts owed by participating interests - 41,030
84,028 91,730
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 212 -
Taxation and social security 20,380 22,008
20,592 22,008
6. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 47,774 50,000
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 3