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REGISTERED NUMBER: 04425429 (England and Wales)












PROVELIO LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024






PROVELIO LIMITED (REGISTERED NUMBER: 04425429)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROVELIO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: P M Wilson
Mrs H S J Wilson
J M Sneddon



REGISTERED OFFICE: Highland House
Mayflower Close
Chandlers Ford
Eastleigh
Hampsire
S053 4AR



REGISTERED NUMBER: 04425429 (England and Wales)



BANKERS: Royal Bank of Scotland
1 Hardman Boulevard
Manchester
M3 3AQ

PROVELIO LIMITED (REGISTERED NUMBER: 04425429)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £ £
FIXED ASSETS
Intangible assets 4 13,107 16,044
Tangible assets 5 492,638 481,482
Investments 6 500 500
506,245 498,026

CURRENT ASSETS
Debtors 7 581,430 538,831
Cash at bank and in hand 421,785 495,253
1,003,215 1,034,084
CREDITORS
Amounts falling due within one year 8 (355,956 ) (385,929 )
NET CURRENT ASSETS 647,259 648,155
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,153,504

1,146,181

PROVISIONS FOR LIABILITIES (17,812 ) (17,757 )
NET ASSETS 1,135,692 1,128,424

CAPITAL AND RESERVES
Called up share capital 1,143 1,143
Capital redemption reserve 860 860
Retained earnings 1,133,689 1,126,421
SHAREHOLDERS' FUNDS 1,135,692 1,128,424

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

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.

PROVELIO LIMITED (REGISTERED NUMBER: 04425429)

BALANCE SHEET - continued
31 OCTOBER 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 July 2025 and were signed on its behalf by:





Mrs H S J Wilson - Director


PROVELIO LIMITED (REGISTERED NUMBER: 04425429)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024


1. STATUTORY INFORMATION

Provelio Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and far view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover
Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Intangible assets
Development costs in relation to the design of the company's SharePoint system are capitalised as incurred. Amortisation has been charged to write off the cost over its estimated useful life of seven years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - Straight line over 3 years
Fixtures and fittings - Straight line over 3 years
Computer equipment - Straight line over 3 years

No depreciation is to be charged on the freehold property, but a continual programme of maintenance, charged through the profit and loss account, is undertaken to maintain the building and prolong its useful economic life.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.


PROVELIO LIMITED (REGISTERED NUMBER: 04425429)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial assets
The Company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

PROVELIO LIMITED (REGISTERED NUMBER: 04425429)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2023 - 26 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£
COST
At 1 November 2023 93,950
Additions 10,485
At 31 October 2024 104,435
AMORTISATION
At 1 November 2023 77,906
Charge for year 13,422
At 31 October 2024 91,328
NET BOOK VALUE
At 31 October 2024 13,107
At 31 October 2023 16,044

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£ £ £ £ £
COST
At 1 November 2023 441,071 3,853 18,587 102,520 566,031
Additions 4,795 - 3,401 32,031 40,227
Disposals - - (61 ) - (61 )
At 31 October 2024 445,866 3,853 21,927 134,551 606,197
DEPRECIATION
At 1 November 2023 - 1,069 14,404 69,076 84,549
Charge for year - 1,106 2,317 25,648 29,071
Eliminated on disposal - - (61 ) - (61 )
At 31 October 2024 - 2,175 16,660 94,724 113,559
NET BOOK VALUE
At 31 October 2024 445,866 1,678 5,267 39,827 492,638
At 31 October 2023 441,071 2,784 4,183 33,444 481,482

PROVELIO LIMITED (REGISTERED NUMBER: 04425429)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024


6. FIXED ASSET INVESTMENTS
Shares in
group
under-
takings
£
COST
At 1 November 2023
and 31 October 2024 500
NET BOOK VALUE
At 31 October 2024 500
At 31 October 2023 500

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 463,669 433,685
Amounts recoverable on contracts 40,453 38,108
Other debtors 77,308 67,038
581,430 538,831

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 41,578 67,205
Amounts owed to group undertakings 1,141 1,141
Taxation and social security 289,792 274,525
Other creditors 23,445 43,058
355,956 385,929

9. OTHER FINANCIAL COMMITMENTS

At the balance sheet date, the company had commitments under operating leases amounting to £26,100 (2023: £26,325).