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REGISTERED NUMBER: 10195990 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Propitch Limited

Propitch Limited (Registered number: 10195990)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Propitch Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: R K Nixon
E J O'Donnell





REGISTERED OFFICE: 3rd Floor
207 Regent Street
London
W1B 3HH





REGISTERED NUMBER: 10195990 (England and Wales)





ACCOUNTANTS: One Accounting Ltd
Chartered Management Accountants
Drumsheugh Toll
2 Belford Road
Edinburgh
Midlothian
EH4 3BL

Propitch Limited (Registered number: 10195990)

Statement of Financial Position
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 27,935 22,252
Tangible assets 5 83,201 42,164
111,136 64,416

CURRENT ASSETS
Debtors 6 274,964 283,105
Cash at bank 416,651 340,519
691,615 623,624
CREDITORS
Amounts falling due within one year 7 577,930 537,859
NET CURRENT ASSETS 113,685 85,765
TOTAL ASSETS LESS CURRENT
LIABILITIES

224,821

150,181

CREDITORS
Amounts falling due after more than one year 8 (21,300 ) (13,050 )

PROVISIONS FOR LIABILITIES (20,800 ) (10,541 )
NET ASSETS 182,721 126,590

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 182,621 126,490
182,721 126,590

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

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

Propitch Limited (Registered number: 10195990)

Statement of Financial Position - continued
31 August 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 Income Statement has not been delivered.

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




R K Nixon - Director



E J O'Donnell - Director


Propitch Limited (Registered number: 10195990)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Propitch 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.

Computer software is being amortised evenly over its estimated useful life of three 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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipments - 33% on reducing balance

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 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.

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 5 (2023 - 3 ) .

Propitch Limited (Registered number: 10195990)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 September 2023 63,227
Additions 14,520
At 31 August 2024 77,747
AMORTISATION
At 1 September 2023 40,975
Amortisation for year 8,837
At 31 August 2024 49,812
NET BOOK VALUE
At 31 August 2024 27,935
At 31 August 2023 22,252

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipments Totals
£    £    £    £   
COST
At 1 September 2023 31,253 24,490 15,361 71,104
Additions - 61,240 1,783 63,023
At 31 August 2024 31,253 85,730 17,144 134,127
DEPRECIATION
At 1 September 2023 11,490 3,623 13,827 28,940
Charge for year 4,940 16,328 718 21,986
At 31 August 2024 16,430 19,951 14,545 50,926
NET BOOK VALUE
At 31 August 2024 14,823 65,779 2,599 83,201
At 31 August 2023 19,763 20,867 1,534 42,164

Assets included in Motor Vehicles have been purchased on hire purchase. These have net book value at the year end of £33,624. The depreciation charged on these assets in the year is £10,363.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 260,400 258,870
VAT 14,564 24,235
274,964 283,105

Propitch Limited (Registered number: 10195990)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts 10,016 4,520
Trade creditors 43,057 16,093
Amounts owed to group undertakings 490,651 460,164
Tax - 36,705
Social security and other taxes 9,874 8,004
Other creditors 21,194 10,868
Accrued expenses 3,138 1,505
577,930 537,859

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.24 31.8.23
£    £   
Hire purchase contracts 21,300 13,050

9. RELATED PARTY DISCLOSURES

From time to time the company enters into transactions with other Companies under common control or in which significant influence is held by the directors. Where these transactions have been made under normal market conditions specific details are not provided.


Balances owed to Other Group Companies

2024 2023
Payable Payable
£    £   

Loan balances with other group companies 490,651 460,165

This loan is interest free and repayable upon demand.

Balances owed to or from companies outside the group in which the directors exert influence

2024 2024 2023 2023
Receivable Payable Receivable Payable
£    £    £    £   

Trade receivables / payables 11,038 Nil £9,765 il

The above balances are held within trade debtors and trade creditors and are owed by or to companies in which the directors are able to exert influence via their shareholdings. These are companies which are outwith the group. Extended trading terms are granted or received due to the influence of the directors.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Sports Labs Holdings.

The Director, Eric O'Donnell is the ultimate controlling party by virtue of his majority shareholding in Sports Labs Holdings ltd.