REGISTERED NUMBER: 03464096 (England and Wales)

Proquip Direct Limited

Unaudited Financial Statements

for the year ended

28 February 2025

Page

Balance Sheet

1

Notes to the Financial Statements

2

to

3

FIXED ASSETS

Tangible assets

5

930

2,573

CURRENT ASSETS

Stocks

10,737

12,996

Debtors

6

11,348

27,453

Cash at bank

13,519

1,212

35,604

41,661

CREDITORS

Amounts falling due within one year

7

(35,811

)

(43,502

)

NET CURRENT LIABILITIES

(207

)

(1,841

)

TOTAL ASSETS LESS CURRENT LIABILITIES

723

732

PROVISIONS FOR LIABILITIES

(233

)

(643

)

NET ASSETS

490

89

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

488

87

SHAREHOLDERS' FUNDS

490

89

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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.

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 27 November 2025 and were signed by:

M R Holland - Director

1.	STATUTORY INFORMATION

Proquip Direct Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

03464096

Registered office:

8 Hopper Way

Diss

Norfolk

IP22 4GT

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover 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.

Plant and machinery

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 March 2024

and 28 February 2025

2,501

6,607

9,108

DEPRECIATION

At 1 March 2024

2,483

4,052

6,535

Charge for year

5

1,638

1,643

At 28 February 2025

2,488

5,690

8,178

NET BOOK VALUE

At 28 February 2025

13

917

930

At 29 February 2024

18

2,555

2,573

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

10,476

26,640

Other debtors

872

813

11,348

27,453

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

4,230

22,612

Taxation and social security

12,888

11,557

Other creditors

18,693

9,333

35,811

43,502

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

2

Ordinary

£1

2

2

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2025 and 29 February 2024:

2025

2024

£

£

M R Holland

Balance outstanding at start of year

(7,941

)

(1,009

)

Amounts advanced

32,394

23,599

Amounts repaid

(41,542

)

(30,531

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(17,089

)

(7,941

)

The loan is provided on an interest free basis with no set repayment terms.