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Company registration number: 13725667
Propav Infrastructure Limited
Unaudited filleted financial statements
31 December 2024
Propav Infrastructure Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Propav Infrastructure Limited
Directors and other information
Directors Mr Cristiano Becker Lima Hees
Mr José Diniz Da Silva Filho (Resigned 25 October 2024)
Mr Leandro Godoy De Mello Motta (Resigned 31 July 2024)
Mr Marcos Felipe Macedo De Andrade Pinto
Mr Fabio Prado Moreno (Resigned 31 July 2024)
Mr Ricardo Collier De Oliveira (Appointed 25 October 2024)
Company number 13725667
Registered office Amba House, 4th Floor, Kings Suite
15 College Road
Harrow
Middlesex
HA1 1BA
Accountants Nagle James Associates Limited
Amba House, 4th Floor, Kings Suite,
15 College Road,
Harrow,
Middlesex,
HA1 1BA
Propav Infrastructure Limited
Statement of financial position
31 December 2024
2024 2023
Note £ £ £ £
Fixed assets
Investments 5 1 1
_______ _______
1 1
Current assets
Debtors 6 4,746,137 4,104,196
Cash at bank and in hand 37,046 4,133
_______ _______
4,783,183 4,108,329
Creditors: amounts falling due
within one year 7 ( 4,778,738) ( 4,106,748)
_______ _______
Net current assets 4,445 1,581
_______ _______
Total assets less current liabilities 4,446 1,582
_______ _______
Net assets 4,446 1,582
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 4,346 1,482
_______ _______
Shareholders funds 4,446 1,582
_______ _______
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 29 April 2025 , and are signed on behalf of the board by:
Mr Cristiano Becker Lima Hees Mr Marcos Felipe Macedo De Andrade Pinto
Director Director
Company registration number: 13725667
Propav Infrastructure Limited
Statement of changes in equity
Year ended 31 December 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 January 2023 100 - 100
Profit for the year 1,482 1,482
_______ _______ _______
Total comprehensive income for the year - 1,482 1,482
_______ _______ _______
At 31 December 2023 and 1 January 2024 100 1,482 1,582
Profit for the year 2,864 2,864
_______ _______ _______
Total comprehensive income for the year - 2,864 2,864
_______ _______ _______
At 31 December 2024 100 4,346 4,446
_______ _______ _______
Propav Infrastructure Limited
Notes to the financial statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Amba House, 4th Floor, Kings Suite, 15 College Road, Harrow, Middlesex, HA1 1BA.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the exemption from preparing consolidated financial statements contained in Section 401 of the Companies Act 2006 on the basis that it is a subsidiary undertaking and its immediate parent undertaking is not established under the law of any part of the United Kingdom.
Accordingly these financial statements present information about the company as an individual undertaking and not as a Group.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 1 ).
5. Investments
Shares in group undertakings and participating interests Total
£ £
Cost or valuation
At 1 January 2024 1 1
Revaluations 44,612 44,612
Transfers ( 44,612) (44,612)
_______ _______
At 31 December 2024 1 1
At 1 January 2024 and 31 December 2024 1 1
_______ _______
Impairment
At 1 January 2024 and 31 December 2024 - -
_______ _______
Carrying amount
At 31 December 2024 1 1
_______ _______
At 31 December 2023 1 1
_______ _______
6. Debtors
2024 2023
£ £
Amounts owed by group undertakings 4,683,158 4,103,165
Called up share capital not paid 100 100
Other debtors 62,879 931
_______ _______
4,746,137 4,104,196
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 281,137 4
Amounts owed to group undertakings 4,481,632 4,100,706
Accruals and deferred income 11,800 2,000
Corporation tax 925 455
Social security and other taxes 3,244 3,326
Other creditors - 257
_______ _______
4,778,738 4,106,748
_______ _______
8. Controlling party
The company's immediate and ultimate parent undertaking at the balance sheet date was Propav Infraestructuras S.L. registered in Spain and holds 100% of issued share capital. Consolidated group financial statements of Propav Infraestructuras S.L. are available from the company's corporate address P.º de la Castellana, 141, planta 9, Tetuán, 28046 Madrid, Spain.