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COMPANY REGISTRATION NUMBER: 01785226
PR International Limited
Filleted Unaudited Financial Statements
31 March 2024
PR International Limited
Officers and Professional Advisers
The board of directors
I Timmann
S Timmann
Registered office
3a The Wenta Business Centre
Colne Way
Watford
Herts
WD24 7ND
Accountants
Warners
Chartered Accountants
3a The Wenta Business Centre
Colne Way
Watford
WD24 7ND
PR International Limited
Balance Sheet
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
1,240
931
Current assets
Stocks
164,908
130,621
Debtors
6
145,239
105,537
Cash at bank and in hand
114,036
168,877
---------
---------
424,183
405,035
Creditors: amounts falling due within one year
7
45,047
36,981
---------
---------
Net current assets
379,136
368,054
---------
---------
Total assets less current liabilities
380,376
368,985
---------
---------
Net assets
380,376
368,985
---------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
380,374
368,983
---------
---------
Shareholders funds
380,376
368,985
---------
---------
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 profit and loss account has not been delivered.
For the year ending 31 March 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 were approved by the board of directors and authorised for issue on 20 June 2025 , and are signed on behalf of the board by:
S TIMMANN _______________ Director
Company registration number: 01785226
PR International Limited
Notes to the Financial Statements
Year ended 31 March 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 3a The Wenta Business Centre, Colne Way, Watford, Herts, WD24 7ND.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
In recent times COVID-19 had been dominating the world social and economic climate and the company continues to operate in an environment of some uncertainty associated with the current worldwide situation. The directors continuously monitor the situation in relation to the company's activities and are confident that the company has the resources to continue trading for the foreseeable future and that it is therefore appropriate to prepare the accounts on a going concern basis.
Revenue recognition
Turnover represents the amounts invoiced for goods sold during the year.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer Equipment
-
30% straight line
Equipment
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Computer equipment
Equipment
Total
£
£
£
Cost
At 1 April 2023
1,292
2,245
3,537
Additions
742
742
-------
-------
-------
At 31 March 2024
2,034
2,245
4,279
-------
-------
-------
Depreciation
At 1 April 2023
755
1,851
2,606
Charge for the year
353
80
433
-------
-------
-------
At 31 March 2024
1,108
1,931
3,039
-------
-------
-------
Carrying amount
At 31 March 2024
926
314
1,240
-------
-------
-------
At 31 March 2023
537
394
931
-------
-------
-------
6. Debtors
2024
2023
£
£
Trade debtors
113,862
99,358
Other debtors
31,377
6,179
---------
---------
145,239
105,537
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
21,348
11,962
Accruals and deferred income
3,802
3,047
Corporation tax
19,352
21,365
Social security and other taxes
397
436
Director loan accounts
148
171
--------
--------
45,047
36,981
--------
--------
8. Transactions with directors
Dividends totalling £28,250 (2023: £18,750) were paid to a director. Another director was also paid dividends of £28,250 (2023: £18,750).