Propel Performance Ltd

Propel Performance Ltd

PROPEL PERFORMANCE LTD - Company Information

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1 September 2019 false No description of principal activity Taxfiler 2021.4 11507923business:PrivateLimitedCompanyLtd2019-09-012020-08-31 115079232019-08-31 115079232019-09-012020-08-31 11507923business:AuditExemptWithAccountantsReport2019-09-012020-08-31 11507923business:FullAccounts2019-09-012020-08-31 115079232020-08-31 11507923business:Director12019-09-012020-08-31 11507923business:RegisteredOffice2019-09-012020-08-31 115079232019-08-31 11507923core:WithinOneYear2020-08-31 11507923core:WithinOneYear2019-08-31 11507923core:ShareCapital2020-08-31 11507923core:ShareCapital2019-08-31 11507923core:RetainedEarningsAccumulatedLosses2020-08-31 11507923core:RetainedEarningsAccumulatedLosses2019-08-31 11507923business:SmallEntities2019-09-012020-08-31 11507923countries:EnglandWales2019-09-012020-08-31 11507923core:FurnitureFittings2019-09-012020-08-31 11507923core:ComputerEquipment2019-09-012020-08-31 11507923core:FurnitureFittings2019-08-31 11507923core:ComputerEquipment2019-08-31 11507923core:FurnitureFittings2020-08-31 11507923core:ComputerEquipment2020-08-31 115079232018-09-012019-08-31 iso4217:GBP xbrli:pure
Company Registration No. 11507923 (England and Wales)
Propel Performance Ltd Unaudited accounts for the year ended 31 August 2020
Propel Performance Ltd Unaudited accounts Contents
Page
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Propel Performance Ltd Company Information for the year ended 31 August 2020
Director
Matthew Charles Lindley
Company Number
11507923 (England and Wales)
Registered Office
8 Crestway London SW15 5BY
Accountants
Micro Business Team ltd Corn Exchange 7a Market Place Swaffham Norfolk PE32 2DR
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Propel Performance Ltd Accountants' report
Accountants' report to the director of Propel Performance Ltd on the preparation of the unaudited statutory accounts for the year ended 31 August 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Propel Performance Ltd for the year ended 31 August 2020 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Propel Performance Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Propel Performance Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Propel Performance Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Propel Performance Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Propel Performance Ltd. You consider that Propel Performance Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Propel Performance Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Micro Business Team ltd Corn Exchange 7a Market Place Swaffham Norfolk PE32 2DR 12 May 2021
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Propel Performance Ltd Statement of financial position as at 31 August 2020
2020 
2019 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
4,688 
3,404 
Current assets
Debtors
5
9,183 
9,373 
Cash at bank and in hand
61,382 
23,784 
70,565 
33,157 
Creditors: amounts falling due within one year
6
(13,331)
(14,057)
Net current assets
57,234 
19,100 
Net assets
61,922 
22,504 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
61,822 
22,404 
Shareholders' funds
61,922 
22,504 
For the year ending 31 August 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 12 May 2021 and were signed on its behalf by
Matthew Charles Lindley Director Company Registration No. 11507923
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Propel Performance Ltd Notes to the Accounts for the year ended 31 August 2020
1
Statutory information
Propel Performance Ltd is a private company, limited by shares, registered in England and Wales, registration number 11507923. The registered office is 8 Crestway, London, SW15 5BY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
5 Year Straightline Method
Computer equipment
3 Year Straightline Method
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 September 2019
- 
3,606 
3,606 
Additions
250 
3,429 
3,679 
At 31 August 2020
250 
7,035 
7,285 
Depreciation
At 1 September 2019
- 
202 
202 
Charge for the year
50 
2,345 
2,395 
At 31 August 2020
50 
2,547 
2,597 
Net book value
At 31 August 2020
200 
4,488 
4,688 
At 31 August 2019
- 
3,404 
3,404 
5
Debtors: amounts falling due within one year
2020 
2019 
£ 
£ 
Trade debtors
8,120 
2,700 
Other debtors
1,063 
6,673 
9,183 
9,373 
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Propel Performance Ltd Notes to the Accounts for the year ended 31 August 2020
6
Creditors: amounts falling due within one year
2020 
2019 
£ 
£ 
Trade creditors
20 
- 
Taxes and social security
10,374 
5,946 
Other creditors
2,871 
8,045 
Accruals
66 
66 
13,331 
14,057 
7
Average number of employees
During the year the average number of employees was 1 (2019: 1).
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