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.
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 (2025 : 2).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Fixtures and Fittings |
|
Total |
| |
£ |
|
£ |
| At 01 April 2025 |
6,160 |
|
6,160 |
| Additions |
- |
|
- |
| Disposals |
- |
|
- |
| At 31 March 2026 |
6,160 |
|
6,160 |
| Depreciation |
| At 01 April 2025 |
5,494 |
|
5,494 |
| Charge for year |
- |
|
- |
| On disposals |
- |
|
- |
| At 31 March 2026 |
5,494 |
|
5,494 |
| Net book values |
| Closing balance as at 31 March 2026 |
666 |
|
666 |
| Opening balance as at 01 April 2025 |
1,783 |
|
1,783 |
|
| 4. |
Investments
| Cost |
Investments in group undertakings |
|
Total |
| |
£ |
|
£ |
| At 01 April 2025 |
1 |
|
1 |
| Additions |
- |
|
- |
| Disposals |
- |
|
- |
| At 31 March 2026 |
1 |
|
1 |
|
| 5. |
Debtors: amounts falling due within one year
|
2026
£ |
|
2025
£ |
| Trade Debtors |
610,924 |
|
284,963 |
| Directors Loan Account 2 |
0 |
|
313,382 |
|
610,924 |
|
598,345 |
|
| 5. |
Debtors: amounts falling due after one year
|
2026
£ |
|
2025
£ |
| Amount Owed by Group Undertakings |
313,931 |
|
315,999 |
|
313,931 |
|
315,999 |
|
| 6. |
Creditors: amount falling due within one year
|
2026
£ |
|
2025
£ |
| Amounts Owed to Group Undertakings |
144,945 |
|
70,905 |
| Corporation Tax |
384,951 |
|
425,383 |
| Accrued Expenses |
60,255 |
|
23,455 |
| Other Creditors |
0 |
|
2 |
| Directors' Current Accounts |
0 |
|
12,012 |
| VAT |
202,599 |
|
76,609 |
|
792,750 |
|
608,366 |
|
| 7. |
Provisions for liabilities
|
2026
£ |
|
2025
£ |
| Deferred Tax |
166 |
|
446 |
|
166 |
|
446 |
|
| 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) |
|---|
| 2026
£ | | 2025
£ | | 2026
£ | | 2025
£ |
|---|
| National Framework Partnership Ltd | (74,040) | | (70,905) | | (144,945) | | (70,905) | | Procure Housing Ltd | (2,068) | | 0 | | 313,931 | | 316,000 |
Creditors include £144,945 (2024: £70,905) due to the company, which has directors in common with it.
As at 31 March 2025, the outstanding balance was £313,931. Procure Housing Ltd is a wholly owned subsidiary of Procurepublic Ltd. |
3
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