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Company registration number: 13201675
Procurae Group Limited
Unaudited filleted financial statements
30 June 2024
Procurae Group Limited
Contents
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Procurae Group Limited
Statement of financial position
30 June 2024
2024 2023
Note £ £ £ £
Fixed assets
Investments 5 950,541 952,815
_______ _______
950,541 952,815
Current assets
Debtors 6 2 2
Cash at bank and in hand 129,340 10,000
_______ _______
129,342 10,002
Creditors: amounts falling due
within one year 7 ( 407,667) ( 61,205)
_______ _______
Net current liabilities ( 278,325) ( 51,203)
_______ _______
Total assets less current liabilities 672,216 901,612
Creditors: amounts falling due
after more than one year 8 ( 20,235) ( 71,610)
_______ _______
Net assets 651,981 830,002
_______ _______
Capital and reserves
Called up share capital 2 2
Share premium account 830,000 830,000
Profit and loss account ( 178,021) -
_______ _______
Shareholders funds 651,981 830,002
_______ _______
For the year ending 30 June 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 20 May 2025 , and are signed on behalf of the board by:
Mr P T Hall
Director
Company registration number: 13201675
Procurae Group Limited
Statement of changes in equity
Year ended 30 June 2024
Called up share capital Share premium account Profit and loss account Total
£ £ £ £
At 1 July 2022 2 830,000 - 830,002
(Loss)/profit for the year - -
_______ _______ _______ _______
Total comprehensive income for the year - - - -
At 30 June 2023 (as previously reported) 2 830,000 - 830,002
Prior period adjustments (-) (-) 51,375 51,375
_______ _______ _______ _______
At 30 June 2023 (restated) and 1 July 2023 2 830,000 51,375 881,377
(Loss)/profit for the year ( 41,965) ( 41,965)
_______ _______ _______ _______
Total comprehensive income for the year - - ( 41,965) ( 41,965)
Dividends paid and payable ( 187,431) ( 187,431)
_______ _______ _______ _______
Total investments by and distributions to owners - - ( 187,431) ( 187,431)
_______ _______ _______ _______
At 30 June 2024 2 830,000 ( 178,021) 651,981
_______ _______ _______ _______
Procurae Group Limited
Notes to the financial statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Unit 5 Prince of Wales Business Park, Birds Royd Lane, Brighouse, HD6 1LQ.
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.
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
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances and revaluation gains on investment properties. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings.
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.
Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 July 2023 951,678 951,678
Other movements ( 1,137) ( 1,137)
_______ _______
At 30 June 2024 950,541 950,541
_______ _______
Impairment
At 1 July 2023 and 30 June 2024 - -
_______ _______
Carrying amount
At 30 June 2024 950,541 950,541
_______ _______
At 30 June 2023 951,678 951,678
_______ _______
6. Debtors
2024 2023
£ £
Other debtors 2 2
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Other creditors 407,667 61,205
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 20,235 71,610
_______ _______