1 false false false false false false false false false true true true false false false false false No description of principal activity 2023-09-01 Sage Accounts Production Advanced 2024 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 12813853 2023-09-01 2024-08-31 12813853 2024-08-31 12813853 2023-08-31 12813853 2022-09-01 2023-08-31 12813853 2023-08-31 12813853 2022-08-31 12813853 bus:Director1 2023-09-01 2024-08-31 12813853 core:WithinOneYear 2024-08-31 12813853 core:WithinOneYear 2023-08-31 12813853 core:ShareCapital 2024-08-31 12813853 core:ShareCapital 2023-08-31 12813853 core:RetainedEarningsAccumulatedLosses 2024-08-31 12813853 core:RetainedEarningsAccumulatedLosses 2023-08-31 12813853 bus:Director1 2023-08-31 12813853 bus:Director1 2024-08-31 12813853 bus:Director1 2022-08-31 12813853 bus:Director1 2023-08-31 12813853 bus:Director1 2022-09-01 2023-08-31 12813853 bus:SmallEntities 2023-09-01 2024-08-31 12813853 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 12813853 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 12813853 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 12813853 bus:FullAccounts 2023-09-01 2024-08-31
COMPANY REGISTRATION NUMBER: 12813853
PRO AI LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 August 2024
PRO AI LIMITED
STATEMENT OF FINANCIAL POSITION
31 August 2024
2024
2023
Note
£
£
£
CURRENT ASSETS
Debtors
5
5,000
13,830
Cash at bank and in hand
1,115
909
-------
--------
6,115
14,739
CREDITORS: amounts falling due within one year
6
4,100
14,127
-------
--------
NET CURRENT ASSETS
2,015
612
-------
----
TOTAL ASSETS LESS CURRENT LIABILITIES
2,015
612
-------
----
NET ASSETS
2,015
612
-------
----
CAPITAL AND RESERVES
Called up share capital
10
10
Profit and loss account
2,005
602
-------
----
SHAREHOLDERS FUNDS
2,015
612
-------
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 7 August 2025 , and are signed on behalf of the board by:
Mr J Longbottom
Director
Company registration number: 12813853
PRO AI LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Cherry Burton House, Main Street, Cherry Burton, Beverley, HU17 7RF.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. ACCOUNTING POLICIES
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Going concern
The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. The directors have committed to fund the company. On this basis, the directors have prepared these financial statements on a going concern basis.
(c) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
(d) Current & deferred tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
(e) Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. DEBTORS
2024
2023
£
£
Trade debtors
1,830
13,830
Corporation tax repayable
787
Other debtors
2,383
-------
--------
5,000
13,830
-------
--------
6. CREDITORS: amounts falling due within one year
2024
2023
£
£
Trade creditors
108
55
Accruals and deferred income
2,347
750
Corporation tax
9,295
Social security and other taxes
3,425
Director loan accounts
1,645
602
-------
--------
4,100
14,127
-------
--------
7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr J Longbottom
( 602)
14,829
( 15,871)
( 1,644)
----
--------
--------
-------
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr J Longbottom
( 359)
71,979
( 72,222)
( 602)
----
--------
--------
----
8. RELATED PARTY TRANSACTIONS
During the year the Director loaned the Company of £ 1,645 (2023: £ 602 ). This loan was interest free and repayable upon demand. The balance of this loan is included in other creditors.