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REGISTERED NUMBER: 03918570 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

PROMAX ACCESS LIMITED

PROMAX ACCESS LIMITED (REGISTERED NUMBER: 03918570)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PROMAX ACCESS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: S D Day
V J Day





REGISTERED OFFICE: Copia House
Great Cliffe Court
Great Cliffe Road
Barnsley
South Yorkshire
S75 3SP





REGISTERED NUMBER: 03918570 (England and Wales)





ACCOUNTANTS: SMH Reed Smith Limited
Copia House
Great Cliffe Court
Great Cliffe Road
Barnsley
South Yorkshire
S75 3SP

PROMAX ACCESS LIMITED (REGISTERED NUMBER: 03918570)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 599 599
Tangible assets 5 207,943 136,296
208,542 136,895

CURRENT ASSETS
Stocks 6 1,901,242 1,295,386
Debtors 7 309,964 348,220
Cash at bank and in hand 1,541,839 3,681,716
3,753,045 5,325,322
CREDITORS
Amounts falling due within one year 8 902,097 1,424,524
NET CURRENT ASSETS 2,850,948 3,900,798
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,059,490

4,037,693

PROVISIONS FOR LIABILITIES 22,363 12,718
NET ASSETS 3,037,127 4,024,975

CAPITAL AND RESERVES
Called up share capital 100 10
Retained earnings 3,037,027 4,024,965
SHAREHOLDERS' FUNDS 11 3,037,127 4,024,975

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

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

PROMAX ACCESS LIMITED (REGISTERED NUMBER: 03918570)

STATEMENT OF FINANCIAL POSITION - continued
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 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 March 2025 and were signed on its behalf by:





S D Day - Director


PROMAX ACCESS LIMITED (REGISTERED NUMBER: 03918570)

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


1. STATUTORY INFORMATION

Promax Access 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.

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.

Motor vehicle registrations is being amortised evenly over its estimated useful life of nil years.

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 - 15% on reducing balance
Office equipment - 15% on cost
Motor vehicles - 25% on reducing balance

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 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

PROMAX ACCESS LIMITED (REGISTERED NUMBER: 03918570)

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


2. ACCOUNTING POLICIES - continued

Leased assets
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

As a lessor the company classifies its leases as either operating leases or finance leases.

A lease is classified as a finance lease if it transfers substantially all of the risks and rewards incidental to ownership of the underlying asset. A lease is classified as an operating lease if the risks and rewards incidental to the ownership of the underlying asset are retained by the company.

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 8 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2023
and 30 June 2024 599
NET BOOK VALUE
At 30 June 2024 599
At 30 June 2023 599

PROMAX ACCESS LIMITED (REGISTERED NUMBER: 03918570)

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


5. TANGIBLE FIXED ASSETS
Plant and Office Motor
machinery equipment vehicles Totals
£    £    £    £   
COST
At 1 July 2023 406,718 21,108 216,663 644,489
Additions - 999 113,546 114,545
Disposals - (6,554 ) (57,355 ) (63,909 )
At 30 June 2024 406,718 15,553 272,854 695,125
DEPRECIATION
At 1 July 2023 391,499 13,166 103,528 508,193
Charge for year 2,353 2,918 37,627 42,898
Eliminated on disposal - (6,554 ) (57,355 ) (63,909 )
At 30 June 2024 393,852 9,530 83,800 487,182
NET BOOK VALUE
At 30 June 2024 12,866 6,023 189,054 207,943
At 30 June 2023 15,219 7,942 113,135 136,296

6. STOCKS
2024 2023
£    £   
Goods for resale 1,901,242 1,295,386

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 282,492 242,187
Other debtors and prepayments 27,437 28,790
Directors' current accounts - 77,208
Section 419 tax recoverable 35 35
309,964 348,220

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 605,716 1,162,016
Amounts owed to group undertakings 17,755 -
Taxation and social security 190,351 242,874
Other creditors 88,275 19,634
902,097 1,424,524

PROMAX ACCESS LIMITED (REGISTERED NUMBER: 03918570)

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


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
S D Day
Balance outstanding at start of year 77,208 -
Amounts advanced - 77,208
Amounts repaid (77,208 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 77,208

10. ULTIMATE CONTROLLING PARTY

The company is controlled by the director Mr S D Day by virtue of his controlling shareholding.

11. RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS
2024 2023
£    £   
Profit for the financial year 445,834 726,561
Dividends (127,275 ) (114,023 )
New share capital subscribed 90 -
Payments to acquire own shares (1,306,497 ) -
Net (reduction)/addition to shareholders' funds (987,848 ) 612,538
Opening shareholders' funds 4,024,975 3,412,437
Closing shareholders' funds 3,037,127 4,024,975