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REGISTERED NUMBER: 01438722















DIRECTOR'S REPORT AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

PROCUREMENT INTERNATIONAL LTD.

PROCUREMENT INTERNATIONAL LTD. (REGISTERED NUMBER: 01438722)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Director's Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


PROCUREMENT INTERNATIONAL LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTOR: I Rosewell





SECRETARY: L.J. Rosewell





REGISTERED OFFICE: Victory House
17 - 19 Marino Way
Hogwood Industrial Estate
Finchampstead
Berkshire
RG40 4RF





REGISTERED NUMBER: 01438722





ACCOUNTANTS: Vernon Gosling Friday Limited
10 Beech Court
Wokingham Road
Hurst
Reading
Berkshire
RG10 0RQ

PROCUREMENT INTERNATIONAL LTD. (REGISTERED NUMBER: 01438722)

DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024

The director presents his report with the financial statements of the company for the year ended 30 September 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the distribution of branded merchandise for use in corporate and consumer loyalty programmes.

REVIEW OF BUSINESS
Turnover increased by 5% over the previous year with profit after tax rising by £67,000. The Company's Balance Sheet remained strong with Shareholders funds of just under £1.6 million and substantial cash balances.
Results to date in the current year show good growth.

DIRECTOR
I Rosewell held office during the whole of the period from 1 October 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





I Rosewell - Director


6 March 2025

PROCUREMENT INTERNATIONAL LTD. (REGISTERED NUMBER: 01438722)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 - -
Tangible assets 4 4,831 9,940
Investments 5 128,393 1,000
133,224 10,940

CURRENT ASSETS
Stocks 380,517 315,766
Debtors 6 1,388,428 1,083,328
Cash at bank and in hand 605,397 910,060
2,374,342 2,309,154
CREDITORS
Amounts falling due within one year 7 930,985 831,418
NET CURRENT ASSETS 1,443,357 1,477,736
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,576,581

1,488,676

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,576,481 1,488,576
SHAREHOLDERS' FUNDS 1,576,581 1,488,676

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

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

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.

PROCUREMENT INTERNATIONAL LTD. (REGISTERED NUMBER: 01438722)

STATEMENT OF FINANCIAL POSITION - continued
30 SEPTEMBER 2024



The financial statements were approved by the director and authorised for issue on 6 March 2025 and were signed by:





I Rosewell - Director


PROCUREMENT INTERNATIONAL LTD. (REGISTERED NUMBER: 01438722)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. 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.

Goodwill
Goodwill has been amortised evenly over its estimated useful life of between five and ten years.

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.

Tangible fixed assets
Tangible fixed assets are written off evenly over their estimated useful life as follows:-

Fixtures and fittings, equipment and motor vehicles 3 - 5 years.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 26 ) .

PROCUREMENT INTERNATIONAL LTD. (REGISTERED NUMBER: 01438722)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 144,581
AMORTISATION
At 1 October 2023
and 30 September 2024 144,581
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 October 2023 188,724 312,794 501,518
Additions 2,062 - 2,062
At 30 September 2024 190,786 312,794 503,580
DEPRECIATION
At 1 October 2023 178,784 312,794 491,578
Charge for year 7,171 - 7,171
At 30 September 2024 185,955 312,794 498,749
NET BOOK VALUE
At 30 September 2024 4,831 - 4,831
At 30 September 2023 9,940 - 9,940

Fixtures, fittings, equipment and motor vehicles depreciated evenly over a period of 3 to 5 years.

5. FIXED ASSET INVESTMENTS

2024 2023
£    £   
Shares in group undertakings 833 833
Loans to group undertakings 127,560 167
128,393 1,000

PROCUREMENT INTERNATIONAL LTD. (REGISTERED NUMBER: 01438722)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5. FIXED ASSET INVESTMENTS - continued

Additional information is as follows:
Shares in
group
undertaking
£   
COST
At 1 October 2023
and 30 September 2024 833
NET BOOK VALUE
At 30 September 2024 833
At 30 September 2023 833
Loans to
group
undertaking
£   
At 1 October 2023 167
New in year 127,393
At 30 September 2024 127,560

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 682,317 442,383
Other debtors 706,111 640,945
1,388,428 1,083,328

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 556,993 617,804
Taxation and social security 68,878 46,053
Other creditors 305,114 167,561
930,985 831,418