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REGISTERED NUMBER: 04058931 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

PROMOCORP LIMITED

PROMOCORP LIMITED (REGISTERED NUMBER: 04058931)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROMOCORP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: K Beswick





REGISTERED OFFICE: Unit 98, Springvale Industrial Estate,
Cwmbran
Torfaen
NP44 5BH





REGISTERED NUMBER: 04058931 (England and Wales)





ACCOUNTANTS: Arthur Gait & Company Limited
Chartered Certified Accountants
18 Gold Tops
Newport
NP20 5WJ

PROMOCORP LIMITED (REGISTERED NUMBER: 04058931)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 240,008 216,372
Investment property 5 210,000 210,000
450,008 426,372

CURRENT ASSETS
Stocks 69,509 67,009
Debtors 6 47,440 56,429
Cash at bank - 5,849
116,949 129,287
CREDITORS
Amounts falling due within one year 7 282,877 257,228
NET CURRENT LIABILITIES (165,928 ) (127,941 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

284,080

298,431

CREDITORS
Amounts falling due after more than one
year

8

489,159

421,836
NET LIABILITIES (205,079 ) (123,405 )

CAPITAL AND RESERVES
Called up share capital 212,500 212,500
Revaluation reserve 9 140,000 140,000
Fair value reserve 9 140,000 140,000
Retained earnings (697,579 ) (615,905 )
(205,079 ) (123,405 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PROMOCORP LIMITED (REGISTERED NUMBER: 04058931)

BALANCE SHEET - continued
31 MARCH 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 director and authorised for issue on 19 February 2025 and were signed by:





K Beswick - Director


PROMOCORP LIMITED (REGISTERED NUMBER: 04058931)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Promocorp 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 as modified by the revaluation of certain assets.

Going Concern
The financial statements show net liabilities as at 31st March 2024.The company continues to benefit from the support and loans provided by the director and related companies. The director believes that the going concern basis remains appropriate for preparing these financial statements.

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.
Plant and machinery etc - 25% on cost and 10% on cost

The company does not have a policy to depreciate freehold buildings. In the opinion of the director any depreciation would not be material.The director has carried out impairment reviews on the property and has made adjustments as necessary.

Investment property
Investment property has been valued by the director on the basis of current market value.
income from investment properties is included on a receivable basis.

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

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.

PROMOCORP LIMITED (REGISTERED NUMBER: 04058931)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

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 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 210,000 135,877 345,877
Additions - 24,500 24,500
Disposals - (12,780 ) (12,780 )
At 31 March 2024 210,000 147,597 357,597
DEPRECIATION
At 1 April 2023 - 129,505 129,505
Charge for year - 864 864
Eliminated on disposal - (12,780 ) (12,780 )
At 31 March 2024 - 117,589 117,589
NET BOOK VALUE
At 31 March 2024 210,000 30,008 240,008
At 31 March 2023 210,000 6,372 216,372

Cost or valuation at 31 March 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2006 117,500 - 117,500
Valuation in 2014 2,500 - 2,500
Valuation in 2016 5,750 - 5,750
Valuation in 2021 14,250 - 14,250
Cost 70,000 147,597 217,597
210,000 147,597 357,597

PROMOCORP LIMITED (REGISTERED NUMBER: 04058931)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 210,000
NET BOOK VALUE
At 31 March 2024 210,000
At 31 March 2023 210,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 42,861 52,320
Other debtors 4,579 4,109
47,440 56,429

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 85,887 79,335
Hire purchase contracts 4,900 -
Trade creditors 77,860 61,737
Taxation and social security 11,086 22,894
Other creditors 103,144 93,262
282,877 257,228

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 316,527 285,553
Hire purchase contracts 15,108 -
Other creditors 157,524 136,283
489,159 421,836

Bank loans and overdrafts include amounts due after more than five years £Nil (2023-£196,991)

9. RESERVES
Fair
Revaluation value
reserve reserve Totals
£    £    £   
At 1 April 2023
and 31 March 2024 140,000 140,000 280,000