Proarch IT Solutions Limited 09989943 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is business and domestic software development Digita Accounts Production Advanced 6.30.9574.0 true true 09989943 2024-04-01 2025-03-31 09989943 2025-03-31 09989943 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2025-03-31 09989943 core:CurrentFinancialInstruments 2025-03-31 09989943 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 09989943 core:PlantMachinery 2025-03-31 09989943 bus:SmallEntities 2024-04-01 2025-03-31 09989943 bus:Audited 2024-04-01 2025-03-31 09989943 bus:FilletedAccounts 2024-04-01 2025-03-31 09989943 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 09989943 bus:RegisteredOffice 2024-04-01 2025-03-31 09989943 bus:Director3 2024-04-01 2025-03-31 09989943 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 09989943 core:PlantMachinery 2024-04-01 2025-03-31 09989943 countries:EnglandWales 2024-04-01 2025-03-31 09989943 2024-03-31 09989943 core:PlantMachinery 2024-03-31 09989943 2023-04-01 2024-03-31 09989943 2024-03-31 09989943 core:CurrentFinancialInstruments 2024-03-31 09989943 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 09989943 core:PlantMachinery 2024-03-31 iso4217:GBP xbrli:pure

Registration number: 09989943

Proarch IT Solutions Limited

Filleted Financial Statements

for the Year Ended 31 March 2025

 

Proarch IT Solutions Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 7

 

Proarch IT Solutions Limited

(Registration number: 09989943)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

-

4,191

Other financial assets

5

824,730

1,053,045

 

824,730

1,057,236

Current assets

 

Debtors

6

208,130

220,729

Cash at bank and in hand

 

165,620

92,401

 

373,750

313,130

Creditors: Amounts falling due within one year

7

(482,138)

(708,687)

Net current liabilities

 

(108,388)

(395,557)

Net assets

 

716,342

661,679

Capital and reserves

 

Called up share capital

100

100

Retained earnings

716,242

661,579

Shareholders' funds

 

716,342

661,679

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 June 2025 and signed on its behalf by:
 

.........................................
Santosh Kumar Kaveti
Director

 

Proarch IT Solutions Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

1

General information

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

The address of its registered office is:
Suite I Windrush Court
Abingdon Business Park
Abingdon
Oxfordshire
OX14 1SY
United Kingdom

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

The accounts are prepared in Sterling (£) and rounded to the nearest pound.

The company has taken advantage of the disclosure exemptions available in relation to the presentation of a Statement of Cashflows.

Going concern

The financial statements have been prepared on a going concern basis. The company has the support of the ProArch Group.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 1 July 2025 was Caroline Webster FCA, who signed for and on behalf of UHY Ross Brooke.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises.

 

Proarch IT Solutions Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

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

Computer Equipment

Straight line over the useful life of 3 years

Investments

Investments are recognised at cost, which includes purchase price and any directly attributable transaction costs.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

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.

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.

 

Proarch IT Solutions Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2024 - 9).

 

Proarch IT Solutions Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

4

Tangible assets

Computer Equipment
£

Total
£

Cost or valuation

At 1 April 2024

55,297

55,297

Disposals

(42,151)

(42,151)

At 31 March 2025

13,146

13,146

Depreciation

At 1 April 2024

51,106

51,106

Charge for the year

4,191

4,191

Eliminated on disposal

(42,151)

(42,151)

At 31 March 2025

13,146

13,146

Carrying amount

At 31 March 2025

-

-

At 31 March 2024

4,191

4,191

5

Fixed asset investments

Other investments
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2024

1,053,042

1,053,042

Disposals

(228,312)

(228,312)

At 31 March 2025

824,730

824,730

Carrying amount

At 31 March 2025

824,730

824,730

 

Proarch IT Solutions Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

6

Debtors

Current

2025
£

2024
£

Trade debtors

164,271

157,944

Amounts owed by related parties

-

30,613

Prepayments

16,115

7,810

Other debtors

27,744

24,362

 

208,130

220,729

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Trade creditors

 

184,057

141,918

Amounts owed to related parties

9

184,482

449,645

Taxation and social security

 

46,040

53,399

Other creditors

 

67,559

63,725

 

482,138

708,687

 

Proarch IT Solutions Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £6,607 (2024 - £21,260).

9

Parent Company

The immediate and ultimate parent company is ProArch Technologies Inc. The principal office address is 121 Perimeter Center West, Suite 200, Dunwoody, GA, 30046, USA.

These accounts present information about the company as an individual undertaking. Group accounts for ProArch Technologies Inc. are not publicly available.