| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| PROPELLER BUSINESS DEVELOPMENT LIMITED |
| DRAFT |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| PROPELLER BUSINESS DEVELOPMENT LIMITED |
| PROPELLER BUSINESS DEVELOPMENT LIMITED (REGISTERED NUMBER: 05248156) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| For The Year Ended 31 December 2024 |
| DRAFT |
| Page |
| Company Information | 1 |
| Abridged Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| PROPELLER BUSINESS DEVELOPMENT LIMITED |
| COMPANY INFORMATION |
| For The Year Ended 31 December 2024 |
| DRAFT |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| PROPELLER BUSINESS DEVELOPMENT LIMITED (REGISTERED NUMBER: 05248156) |
| ABRIDGED BALANCE SHEET |
| 31 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| DRAFT |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| PROPELLER BUSINESS DEVELOPMENT LIMITED (REGISTERED NUMBER: 05248156) |
| ABRIDGED BALANCE SHEET - continued |
| 31 December 2024 |
| DRAFT |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| PROPELLER BUSINESS DEVELOPMENT LIMITED (REGISTERED NUMBER: 05248156) |
| NOTES TO THE FINANCIAL STATEMENTS |
| For The Year Ended 31 December 2024 |
| DRAFT |
| 1. | STATUTORY INFORMATION |
| Propeller Business Development Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared in accordance with the provisions of Section 1A ''Smaller Entities'' of Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
| Turnover |
| Turnover represents sales of business development services, excluding value added tax, performed during the year. |
| Turnover is recognised as the right to consideration arises and adjustments are made for accrued and deferred income. |
| 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. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost or valuation less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended by management. |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Plant and equipment | - | 25% reducing balance |
| Fixtures and fittings | - | 25% reducing balance |
| Financial instruments |
| The company enters into basic financial instruments, which result in the recognition of financial assets and liabilities. Financial instruments are recognised at amortised cost. At the end of each reporting period financial instruments are assessed for evidence of impairment, and changes are recognised in profit or loss. |
| 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 tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. |
| Deferred tax represents the future tax consequences of material transactions and events recognised in the financial statements of current and previous periods. |
| Current and deferred tax assets and liabilities are not discounted and are recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable are charged to the profit and loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| PROPELLER BUSINESS DEVELOPMENT LIMITED (REGISTERED NUMBER: 05248156) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 December 2024 |
| DRAFT |
| 4. | INTANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| Additions |
| At 31 December 2024 |
| AMORTISATION |
| Amortisation for year |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| At 1 January 2024 |
| and 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 6. | SECURED DEBTS |
| Fixed and floating charges over all property or undertaking of the company were created on 27 February 2023 by Triple Point Advancr Leasing PLC to secure all monies due or becoming due. The charge also contained a negative pledge over the property. |
| 7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| As at 31 December 2024 the company had loaned a director £nil (2023 - £2,587). The maximum amount owed during the year was £2,587, no interest has been charged on the loan and it was repaid in full within the reporting period. |
| 8. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| PROPELLER BUSINESS DEVELOPMENT LIMITED (REGISTERED NUMBER: 05248156) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 December 2024 |
| 8. | RELATED PARTY DISCLOSURES - continued |
| DRAFT |
| During the year, the company entered into transactions with its related parties, which are members of the same group. |
| Amounts owed to related parties at the end of the year: |
| Propeller Marketing Group Limited was £11,171 (2023 - £8,781). |
| Amounts owed by related parties at the end of the year: |
| Propeller PR & Content Limited £297,133 (2023 - £333,863). |
| These amounts are unsecured, interest-free and repayable on demand. |
| No guarantees have been given or received. No expenses have been recognised during the current or previous financial year for bad or doubtful debts in respect of the amounts owed by or to related parties. |