| Prontoweb Ltd |
| Notes to the Accounts |
| for the year ended 30 November 2024 |
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| 1 |
Accounting policies |
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Basis of preparation |
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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).
The accounts are presented in Sterling which is the functional currency of the company and rounded to the nearest £. |
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Going concern |
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The accounts have been prepared on a going concern basis as detailed in note 8 to the accounts. |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Office equipment |
over 3 years |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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| 2 |
Employees |
2024 |
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2023 |
| Number |
Number |
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Average number of persons employed by the company |
2 |
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2 |
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| 3 |
Tangible fixed assets |
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Office equipment |
| £ |
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Cost |
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At 1 December 2023 |
8,063 |
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At 30 November 2024 |
8,063 |
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Depreciation |
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At 1 December 2023 |
8,063 |
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At 30 November 2024 |
8,063 |
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Net book value |
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At 30 November 2024 |
- |
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| 4 |
Debtors |
2024 |
|
2023 |
| £ |
£ |
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Other debtors |
7,944 |
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3,436 |
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| 5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
| £ |
£ |
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Taxation and social security costs |
14,914 |
|
12,375 |
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Other creditors |
3,660 |
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4,573 |
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18,574 |
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16,948 |
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| 6 |
Loans to directors |
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Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
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M D Miah |
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Loan |
- |
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7,944 |
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- |
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7,944 |
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- |
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7,944 |
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- |
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7,944 |
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| An unsecured loan of £7,944 was made to the director during the year, subject to interest equivalent to the official rate of interest used by HM Revenue & Customs for beneficial loans, where applicable. The balance outstanding at the year end was £7,944. |
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| 7 |
Share capital |
2024 |
|
2023 |
| £ |
£ |
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Allotted, called up and fully paid: |
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Ordinary shares |
2 |
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2 |
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| 8 |
Going concern |
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The accounts have been prepared on the going concern basis. However, the balance sheet shows the company had net liabilities of £6,888 as at 30 November 2024. The ability of the company to continue to trade as a going concern depends on the ongoing support of its creditors to provide credit. |
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| 9 |
Company information |
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Prontoweb Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office is: |
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Ground Floor, Advance House |
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9 Waterfall Lane Trading Estate |
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Cradley Heath |
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West Midlands |
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B64 6PU |
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Its registered number is: |
12312547 |