Company registration number: 13001496
Unaudited financial statements
for the year ended 30 June 2024
for
Prograd Limited
Pages for filing with the Registrar
Company registration number: 13001496
Prograd Limited
Balance sheet
as at 30 June 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 4 4,368 4,368
Tangible assets 5 2,265 2,547
6,633 6,915
Current assets
Debtors 98,636 60,910
Cash at bank and in hand 617,410 1,623,542
716,046 1,684,452
Creditors: amounts falling due within one
year
(14,233) (13,897)
Net current assets 701,813 1,670,555
Total assets less current liabilities 708,446 1,677,470
NET ASSETS 708,446 1,677,470
Capital and reserves
Called up share capital 19 19
Share premium account 2,771,631 2,771,631
Profit and loss account (2,063,204) (1,094,180)
TOTAL EQUITY 708,446 1,677,470
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 30 June 2024.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
1
Company registration number: 13001496
Prograd Limited
Balance sheet - continued
as at 30 June 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 Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 18 March 2025 and signed on its behalf by:
Mr E Fraenkel, Director
18 March 2025
2
Prograd Limited
Notes to the financial statements
for the year ended 30 June 2024
1 Company information
Prograd Limited is a private company registered in England and Wales. Its registered number is 13001496. The company is limited by shares. Its registered office is Hallswelle House, 1 Hallswelle Road, London, NW11 0DH.
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 historic cost convention.
Presentation currency
The company's financial statements are presented in sterling.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the 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.
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.
Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Development costs - The development costs relate to the entity's website
and therefore have been determined to have an infinite
useful life.
3
Prograd Limited
Notes to the financial statements - continued
for the year ended 30 June 2024
2 Accounting policies - continued
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Computer equipment - 10% straight line
Taxation
Taxation for the year comprises current taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current 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.
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
3 Average number of employees
During the year the average number of employees was 6 (2023 - 5).
4 Intangible assets
Other
intangible
assets
£
Cost
At 1 July 2023 4,368
At 30 June 2024 4,368
Amortisation
At 30 June 2024 -
4
Prograd Limited
Notes to the financial statements - continued
for the year ended 30 June 2024
4 Intangible assets - continued
Net book value
At 30 June 2024 4,368
At 30 June 2023 4,368
5 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 1 July 2023 2,829
At 30 June 2024 2,829
Depreciation
At 1 July 2023 282
Charge for year 282
At 30 June 2024 564
Net book value
At 30 June 2024 2,265
At 30 June 2023 2,547
If Computer equipment had not been revalued, Computers would have been included at the following historical cost:
2024 2023
£ £
Cost 2,829 2,829
Accumulated depreciation 560 282
5