Company Registration No. 08201288 (England and Wales)
Proreal Limited
Unaudited accounts
for the year ended 31 December 2024
Proreal Limited
Unaudited accounts
Contents
Proreal Limited
Company Information
for the year ended 31 December 2024
Directors
Stephen Clarke
Andrew Jackson
David Tinker
Company Number
08201288 (England and Wales)
Registered Office
86-90 Paul Street
London
London
EC2A 4NE
England
Accountants
SA Ledgers Ltd
57 Canbury Park Road
Kingston
KT2 6LQ
Proreal Limited
Statement of financial position
as at 31 December 2024
Cash at bank and in hand
37,509
46,999
Creditors: amounts falling due within one year
(28,708)
(7,497)
Net current assets
23,251
53,674
Total assets less current liabilities
23,551
55,927
Provisions for liabilities
Called up share capital
196
196
Share premium
99,905
99,905
Profit and loss account
(76,625)
(44,737)
Shareholders' funds
23,476
55,364
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 June 2025 and were signed on its behalf by
Andrew Jackson
Director
Company Registration No. 08201288
Proreal Limited
Notes to the Accounts
for the year ended 31 December 2024
Proreal Limited is a private company, limited by shares, registered in England and Wales, registration number 08201288. The registered office is 86-90 Paul Street, London, London, EC2A 4NE, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Nonmonetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
The directors have committed to providing sufficient support to the company to enable it to continue for a period of at least twelve months from when the financial statements are signed.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% Straight Line
Proreal Limited
Notes to the Accounts
for the year ended 31 December 2024
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
Proreal Limited
Notes to the Accounts
for the year ended 31 December 2024
4
Tangible fixed assets
Computer equipment
At 31 December 2024
10,015
Amounts falling due within one year
Trade debtors
14,450
14,172
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
2,756
4,759
Other creditors
25,523
524
7
Deferred taxation
2024
2023
Accelerated capital allowances
75
563
Provision at start of year
563
662
Credited to the profit and loss account
(488)
(99)
Provision at end of year
75
563
Allotted, called up and fully paid:
19,600 Ordinary shares of £0.01 each
196
196
Proreal Limited
Notes to the Accounts
for the year ended 31 December 2024
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,312 (2023 - £2,334). Contributions totaling £519 (2023 - £519) were payable to the fund at the balance sheet date and are included in creditors.
10
Transactions with related parties
There were no related party transactions during either the year ended 31 December 2024 or 2023.
11
Average number of employees
During the year the average number of employees was 3 (2023: 3).