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REGISTERED NUMBER: 02728992 (England and Wales)





















PROCYON LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024






PROCYON LIMITED (REGISTERED NUMBER: 02728992)

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










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


PROCYON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: P J Taylor
Mrs C L Taylor
T J Welford





SECRETARY: Mrs C L Taylor





REGISTERED OFFICE: 22-24 Harborough Road
Kingsthorpe
Northampton
NN2 7AZ





REGISTERED NUMBER: 02728992 (England and Wales)





ACCOUNTANTS: Phipps Henson McAllister
Chartered Accountants
22-24 Harborough Road
Kingsthorpe
Northampton
NN2 7AZ

PROCYON LIMITED (REGISTERED NUMBER: 02728992)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 5,359 4,241

CURRENT ASSETS
Stocks 2,109 2,981
Debtors 5 68,359 33,192
Cash at bank 324,344 433,224
394,812 469,397
CREDITORS
Amounts falling due within one year 6 131,707 134,690
NET CURRENT ASSETS 263,105 334,707
TOTAL ASSETS LESS CURRENT LIABILITIES 268,464 338,948

PROVISIONS FOR LIABILITIES 892 679
NET ASSETS 267,572 338,269

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings 267,570 338,267
SHAREHOLDERS' FUNDS 267,572 338,269

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

PROCYON LIMITED (REGISTERED NUMBER: 02728992)

BALANCE SHEET - continued
31 JULY 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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2025 and were signed on its behalf by:




P J Taylor - Director



Mrs C L Taylor - Director


PROCYON LIMITED (REGISTERED NUMBER: 02728992)

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


1. STATUTORY INFORMATION

Procyon 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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 - Straight line over 3-5 years
Motor vehicles - Straight line over 3-5 years

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.

PROCYON LIMITED (REGISTERED NUMBER: 02728992)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 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.

Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 August 2023 9,232 13,748 22,980
Additions 2,437 - 2,437
At 31 July 2024 11,669 13,748 25,417
DEPRECIATION
At 1 August 2023 4,991 13,748 18,739
Charge for year 1,319 - 1,319
At 31 July 2024 6,310 13,748 20,058
NET BOOK VALUE
At 31 July 2024 5,359 - 5,359
At 31 July 2023 4,241 - 4,241

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 61,883 28,947
Other debtors 6,476 4,245
68,359 33,192

PROCYON LIMITED (REGISTERED NUMBER: 02728992)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 3,507 6,509
Taxation and social security 10,830 26,208
Other creditors 117,370 101,973
131,707 134,690

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary 1 2 2

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is P J Taylor.