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Filleted

Registration number: 09656229

Pyraleads Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Pyraleads Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 10

 

Pyraleads Ltd

Company Information

Director

Mrs R H Jones

Registered office

4 Green Meadow
New Inn
Pencader
Carmarthenshire
SA39 9BE

 

Pyraleads Ltd

(Registration number: 09656229)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

16,792

21,081

Other financial assets

6

5,000

5,000

 

21,792

26,081

Current assets

 

Debtors

7

-

481

Creditors: Amounts falling due within one year

8

(17,364)

(16,523)

Net current liabilities

 

(17,364)

(16,042)

Total assets less current liabilities

 

4,428

10,039

Creditors: Amounts falling due after more than one year

8

(844,373)

(865,355)

Net liabilities

 

(839,945)

(855,316)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(840,045)

(855,416)

Total equity

 

(839,945)

(855,316)

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Pyraleads Ltd

(Registration number: 09656229)
Balance Sheet as at 30 June 2024

Approved and authorised by the director on 25 June 2025
 

.........................................
Mrs R H Jones
Director

   
     
 

Pyraleads Ltd

Notes to the Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
4 Green Meadow
New Inn
Pencader
Carmarthenshire
SA39 9BE

These financial statements were authorised for issue by the director on 25 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The directors will support the company for the foreseeable future and pay debts as they fall due.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Pyraleads Ltd

Notes to the Financial Statements for the Year Ended 30 June 2024

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% Reducing balance

Motor Vehicles

20% Reducing balance

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Pyraleads Ltd

Notes to the Financial Statements for the Year Ended 30 June 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

4,289

5,391

 

Pyraleads Ltd

Notes to the Financial Statements for the Year Ended 30 June 2024

5

Tangible assets

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

5,061

34,346

39,407

At 30 June 2024

5,061

34,346

39,407

Depreciation

At 1 July 2023

3,608

14,718

18,326

Charge for the year

363

3,926

4,289

At 30 June 2024

3,971

18,644

22,615

Carrying amount

At 30 June 2024

1,090

15,702

16,792

At 30 June 2023

1,453

19,628

21,081

 

Pyraleads Ltd

Notes to the Financial Statements for the Year Ended 30 June 2024

6

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 July 2023

5,000

5,000

At 30 June 2024

5,000

5,000

Impairment

Carrying amount

At 30 June 2024

5,000

5,000

7

Debtors

2024
£

2023
£

Other debtors

-

481

-

481

 

Pyraleads Ltd

Notes to the Financial Statements for the Year Ended 30 June 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

10

11,164

12,623

Trade creditors

 

1,836

1,153

Taxation and social security

 

2,888

1,767

Other creditors

 

1,476

980

 

17,364

16,523

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

8,007

16,952

Other financial liabilities

 

836,366

848,403

 

844,373

865,355

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary A Shares of £1 each

100

100

100

100

         
 

Pyraleads Ltd

Notes to the Financial Statements for the Year Ended 30 June 2024

10

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

4,483

7,385

HP and finance lease liabilities

3,524

9,567

8,007

16,952

2024
£

2023
£

Current loans and borrowings

Bank borrowings

1,805

4,000

Bank overdrafts

3,317

2,581

HP and finance lease liabilities

6,042

6,042

11,164

12,623