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Logo On Report
Registered Number: 09714989
England and Wales

 

 

 

PROCUREPUBLIC LTD



Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2024

End date: 31 March 2025
Directors Mark Harrison
Emma Harrison
Stuart Cocks
Registered Number 09714989
Registered Office International House
36-38 Cornhill
London
EC3V 3NG
Accountants WallsMan Creative Limited
Unit 14, Princeton Mews
167 London Road
Kingston upon Thames
KT2 6PT
1
 
 
Notes
 
2025
£
  2024
£
Fixed assets      
Tangible fixed assets 3 1,783    3,513 
Investments 4 1   
1,784    3,513 
Current assets      
Debtors 5 914,344    227,166 
Cash at bank and in hand 1,163,103    1,025,148 
2,077,447    1,252,314 
Creditors: amount falling due within one year 6 (608,366)   (412,259)
Net current assets 1,469,081    840,055 
 
Total assets less current liabilities 1,470,865    843,568 
Provisions for liabilities 7 (446)   (878)
Net assets 1,470,419    842,690 
 

Capital and reserves
     
Called up share capital 3    3 
Profit and loss account 1,470,416    842,687 
Shareholders' funds 1,470,419    842,690 
 


For the year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 30 June 2025 and were signed on its behalf by:


-------------------------------
Mark Harrison
Director
2
General Information
ProcurePublic Ltd is a private company, limited by shares, registered in England and Wales, registration number 09714989, registration address International House, 36-38 Cornhill, London, EC3V 3NG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 33% Straight Line
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 3 (2024 : 2).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 April 2024 5,244    5,244 
Additions  
Disposals  
At 31 March 2025 5,244    5,244 
Depreciation
At 01 April 2024 1,731    1,731 
Charge for year 1,730    1,730 
On disposals  
At 31 March 2025 3,461    3,461 
Net book values
Closing balance as at 31 March 2025 1,783    1,783 
Opening balance as at 01 April 2024 3,513    3,513 


4.

Investments

Cost Investments in group undertakings   Total
  £   £
At 01 April 2024  
Additions 1    1 
Transfer to/from tangible fixed assets  
Disposals  
At 31 March 2025 1    1 

5.

Debtors: amounts falling due within one year

2025
£
  2024
£
Trade Debtors 284,963    138,244 
Prepayments & Accrued Income   443 
Directors Loan Account 2 313,382    88,479 
598,345    227,166 

5.

Debtors: amounts falling due after one year

2025
£
  2024
£
Amount Owed by Group Undertakings 315,999   
315,999   

6.

Creditors: amount falling due within one year

2025
£
  2024
£
Amounts Owed to Group Undertakings 70,905    14,744 
Corporation Tax 425,383    251,190 
Accrued Expenses 23,455    74,544 
Other Creditors 2   
Directors' Current Accounts 12,012    12,000 
VAT 76,609    59,781 
608,366    412,259 

7.

Provisions for liabilities

2025
£
  2024
£
Deferred Tax 446    878 
446    878 

8.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2025
£
 2024
£
 2025
£
 2024
£
National Framework Partnership Ltd(70,905)(14,743)
Procure Housing Ltd315,999 

Creditors include £70,905 (2024: £14,7430) due to the company, which has directors in common with it.
During the year, the company advanced a loan of £315,999 to its subsidiary, Procure Housing Ltd. As at 31 March 2025, the outstanding balance was £315,999. Procure Housing Ltd is a wholly owned subsidiary of Procurepublic Ltd.
3