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REGISTERED NUMBER: 07432911 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Prorite Limited

Prorite Limited (Registered number: 07432911)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Prorite Limited

Company Information
for the Year Ended 31 December 2024







DIRECTOR: P Bar





REGISTERED OFFICE: Shadwell House
65 Lower Green Road
Rusthall
Tunbridge Wells
Kent
TN4 8TW





REGISTERED NUMBER: 07432911 (England and Wales)





ACCOUNTANTS: Peter Hodgson & Co.
Chartered Accountants
Shadwell House
65 Lower Green Road
Tunbridge Wells
Kent
TN4 8TW

Prorite Limited (Registered number: 07432911)

Statement of Financial Position
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 341,689 267,122

CURRENT ASSETS
Inventories 5,000 5,000
Debtors 5 2,797,918 2,852,438
Cash at bank 999,953 1,778,538
3,802,871 4,635,976
CREDITORS
Amounts falling due within one year 6 1,013,825 1,528,094
NET CURRENT ASSETS 2,789,046 3,107,882
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,130,735

3,375,004

CREDITORS
Amounts falling due after more than one year 7 (171,764 ) (173,024 )

PROVISIONS FOR LIABILITIES 8 (57,420 ) (37,724 )
NET ASSETS 2,901,551 3,164,256

CAPITAL AND RESERVES
Called up share capital 9 214 300
Capital redemption reserve 10 86 -
Retained earnings 10 2,901,251 3,163,956
SHAREHOLDERS' FUNDS 2,901,551 3,164,256

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

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

The director acknowledges his 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.

Prorite Limited (Registered number: 07432911)

Statement of Financial Position - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 July 2025 and were signed by:





P Bar - Director


Prorite Limited (Registered number: 07432911)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Prorite 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
There are no significant judgements or estimates pertaining to these accounts.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

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 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Prorite Limited (Registered number: 07432911)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Functional currency
The functional currency used by the company is £ Sterling.

Financial instruments
Financial instruments including cash and bank balances are disclosed at fair value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 23 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2024 419,539 20,019 439,558
Additions 213,558 - 213,558
Disposals (31,867 ) - (31,867 )
At 31 December 2024 601,230 20,019 621,249
DEPRECIATION
At 1 January 2024 158,310 14,126 172,436
Charge for year 110,741 1,473 112,214
Eliminated on disposal (5,090 ) - (5,090 )
At 31 December 2024 263,961 15,599 279,560
NET BOOK VALUE
At 31 December 2024 337,269 4,420 341,689
At 31 December 2023 261,229 5,893 267,122

Included in fixed assets are commercial motor vehicles with an net book value of £561,230 which are financed under hire purchase agreements. The amount of finance outstanding at the balance sheet date amounted to £212,446.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,019,369 1,445,689
Due from related parties 1,752,284 1,352,822
Prepayments 26,265 53,927
2,797,918 2,852,438

Prorite Limited (Registered number: 07432911)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank & hire purchase finance 105,757 70,895
Trade creditors 603,903 775,417
Tax 165,586 588,096
Social security and other taxes 50,423 8,637
VAT 83,689 81,009
Directors' current accounts 949 690
Accrued expenses 3,518 3,350
1,013,825 1,528,094

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank & hire purchase finance 171,764 173,024

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 57,420 37,724

Deferred
tax
£   
Balance at 1 January 2024 37,724
Provided during year 19,696
Balance at 31 December 2024 57,420

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
214 Ordinary 1 214 300

Prorite Limited (Registered number: 07432911)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

10. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 January 2024 3,163,956 - 3,163,956
Profit for the year 1,189,295 1,189,295
Dividends (852,000 ) (852,000 )
Purchase of own shares (600,000 ) 86 (599,914 )
At 31 December 2024 2,901,251 86 2,901,337