Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-3115The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2024-01-01falseNo description of principal activity12falsetruefalse 08315922 2024-01-01 2024-12-31 08315922 2024-12-31 08315922 2023-01-01 2023-12-31 08315922 2023-12-31 08315922 c:Director1 2024-01-01 2024-12-31 08315922 c:Director3 2024-01-01 2024-12-31 08315922 c:Director4 2024-01-01 2024-12-31 08315922 c:Director5 2024-01-01 2024-12-31 08315922 c:RegisteredOffice 2024-01-01 2024-12-31 08315922 d:FurnitureFittings 2024-01-01 2024-12-31 08315922 d:FurnitureFittings 2024-12-31 08315922 d:FurnitureFittings 2023-12-31 08315922 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 08315922 d:CurrentFinancialInstruments 2024-12-31 08315922 d:CurrentFinancialInstruments 2023-12-31 08315922 d:Non-currentFinancialInstruments 2024-12-31 08315922 d:Non-currentFinancialInstruments 2023-12-31 08315922 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 08315922 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 08315922 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 08315922 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 08315922 d:ShareCapital 2024-12-31 08315922 d:ShareCapital 2023-12-31 08315922 d:SharePremium 2024-12-31 08315922 d:SharePremium 2023-12-31 08315922 d:OtherMiscellaneousReserve 2024-12-31 08315922 d:OtherMiscellaneousReserve 2023-12-31 08315922 d:RetainedEarningsAccumulatedLosses 2024-12-31 08315922 d:RetainedEarningsAccumulatedLosses 2023-12-31 08315922 c:OrdinaryShareClass1 2024-01-01 2024-12-31 08315922 c:OrdinaryShareClass1 2024-12-31 08315922 c:OrdinaryShareClass1 2023-12-31 08315922 c:FRS102 2024-01-01 2024-12-31 08315922 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 08315922 c:FullAccounts 2024-01-01 2024-12-31 08315922 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 08315922 d:WithinOneYear 2024-12-31 08315922 d:WithinOneYear 2023-12-31 08315922 d:BetweenOneFiveYears 2024-12-31 08315922 d:BetweenOneFiveYears 2023-12-31 08315922 6 2024-01-01 2024-12-31 08315922 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:shares xbrli:pure
Company registration number: 08315922







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024


PROPLEND LTD






































img254f.png                        

 


PROPLEND LTD
 


 
COMPANY INFORMATION


Directors
B A Bartaby 
M Carson 
B Storey 
J Oakley 




Registered number
08315922



Registered office
20-22 Wenlock Road

London

N1 7GU




Accountants
Menzies LLP
Chartered Accountants

Victoria House

50-58 Victoria Road

Farnborough

Hampshire

GU14 7PG





 


PROPLEND LTD
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 8


 


PROPLEND LTD
REGISTERED NUMBER:08315922



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

As reclassified
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
4,894
2,404

Investments
 5 
2
2

  
4,896
2,406

Current assets
  

Debtors: amounts falling due within one year
 6 
24,801
16,244

Current asset investments
 7 
96,000
10,000

Cash at bank and in hand
  
840,373
1,002,287

  
961,174
1,028,531

Creditors: amounts falling due within one year
 8 
(70,662)
(76,159)

Net current assets
  
 
 
890,512
 
 
952,372

Total assets less current liabilities
  
895,408
954,778

Creditors: amounts falling due after more than one year
 9 
(3,499)
(9,499)

  

Net assets
  
891,909
945,279


Capital and reserves
  

Allotted, called up and fully paid share capital
 10 
180
180

Share premium account
  
4,290,611
4,290,611

Other reserves
  
22,465
22,465

Profit and loss account
  
(3,421,347)
(3,367,977)

  
891,909
945,279


The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

Page 1

 


PROPLEND LTD
REGISTERED NUMBER:08315922


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



................................................
B A Bartaby
Director

Date: 1 April 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 


PROPLEND LTD
 


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

1.


General information

Proplend Limited is a private company limited by shares, incorporated in the United Kingdom and registered in England and Wales. The address of the registered office, which is also the principal place of business, is disclosed on the company information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP, which has been rounded to the nearest pound sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.3

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 3

 


PROPLEND LTD
 


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

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Share-based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each reporting date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme).
Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.
Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Page 4

 


PROPLEND LTD
 


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

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Fixtures, fittings and computer equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted company loans are measured at cost.

 
2.10

Financial instruments

The Company only enters into basic financial intrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

3.


Employees

The average monthly number of employees, including the Directors, during the year was 15 (2023 - 12).


Page 5

 


PROPLEND LTD
 


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

4.


Tangible fixed assets





Fixtures, fittings and computer equipment

£



Cost or valuation


At 1 January 2024
31,484


Additions
4,178



At 31 December 2024

35,662



Depreciation


At 1 January 2024
29,080


Charge for the year
1,688



At 31 December 2024

30,768



Net book value



At 31 December 2024
4,894



At 31 December 2023
2,404


5.


Fixed asset investments





Investment in subsidiaries

£



Cost or valuation


At 1 January 2024
2



At 31 December 2024
2




Page 6

 


PROPLEND LTD
 


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

6.


Debtors

As reclassified
2024
2023
£
£


Trade debtors
2,700
10,631

Prepayments and accrued income
22,101
5,613

24,801
16,244



7.


Current asset investments

As reclassified
2024
2023
£
£

Loan investments
96,000
10,000



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
6,000
6,000

Trade creditors
13,867
8,888

Corporation tax
-
14,276

Other taxation and social security
28,053
25,295

Other creditors
6,466
6,561

Accruals
16,276
15,139

70,662
76,159



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
3,499
9,499


Page 7

 


PROPLEND LTD
 


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

10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,804,497 (2023 - 1,804,497) Ordinary shares of £0.0001 each
180
180



11.


Prior year reclassification

During the year, it has been concluded that a balance of £10,000 is to be reclassified from other debtors to current asset investment in order to provide a true and fair view of the intention of these assets.
There is no profit or tax impact as a result of the above reclassficiation.


12.


Commitments under operating leases

At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
41,440
10,000

Later than 1 year and not later than 5 years
31,080
-

72,520
10,000

 
Page 8