Proportunity Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10470755 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2022

FOR

PROPORTUNITY LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S A Boronea

Mr V R Toader

Ms R F Blader

Mr G Dimopoulos

Mr J Torremocha

REGISTERED OFFICE:

GG 405, Metal Box Factory

30 Great Guildford St

London

SE1 0HS

REGISTERED NUMBER:

10470755 (England and Wales)

ACCOUNTANTS:

Peter Jarman LLP

trading as

Peter Jarman & Company

1 Harbour House

Harbour Way

Shoreham by Sea

West Sussex

BN43 5HZ

FIXED ASSETS

Tangible assets

4

54,447

11,930

Investments

5

625,509

575,501

679,956

587,431

CURRENT ASSETS

Debtors

6

4,503,817

8,473,096

Cash at bank

1,500,531

636,127

6,004,348

9,109,223

CREDITORS

Amounts falling due within one year

7

(3,646,423

)

(4,112,216

)

NET CURRENT ASSETS

2,357,925

4,997,007

TOTAL ASSETS LESS CURRENT LIABILITIES

3,037,881

5,584,438

CREDITORS

Amounts falling due after more than one year

8

(989,133

)

-

NET ASSETS

2,048,748

5,584,438

CAPITAL AND RESERVES

Called up share capital

10

241

237

Share premium

10,735,094

9,415,048

Retained earnings

(8,686,587

)

(3,830,847

)

SHAREHOLDERS' FUNDS

2,048,748

5,584,438

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 October 2022 and were signed on its behalf by:

Mr S A Boronea - Director

Mr V R Toader - Director

1.	STATUTORY INFORMATION

Proportunity Ltd 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.

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

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.

Preparation of consolidated financial statements

The financial statements contain information about Proportunity Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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 etc

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2021 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2021

31,369

Additions

56,719

At 30 April 2022

88,088

DEPRECIATION

At 1 May 2021

19,439

Charge for year

14,202

At 30 April 2022

33,641

NET BOOK VALUE

At 30 April 2022

54,447

At 30 April 2021

11,930

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 May 2021

575,501

Additions

50,008

At 30 April 2022

625,509

NET BOOK VALUE

At 30 April 2022

625,509

At 30 April 2021

575,501

6.

DEBTORS

2022

2021

as restated

£

£

Amounts falling due within one year:

Amounts owed by group undertakings

3,881,381

3,493,743

Other debtors

337,436

4,819,353

4,218,817

8,313,096

Amounts falling due after more than one year:

Other debtors

285,000

160,000

Aggregate amounts

4,503,817

8,473,096

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

as restated

£

£

Bank loans and overdrafts

177,145

-

Trade creditors

55,205

1

Amounts owed to group undertakings

3,413,439

3,683,891

Taxation and social security

-

79

Other creditors

634

428,245

3,646,423

4,112,216

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

as restated

£

£

Bank loans

989,133

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loan

127,555

-

9.	SECURED DEBTS

The bank borrowings are secured by fixed and floating charges over the company's assets.

10.	CALLED UP SHARE CAPITAL

Included in share premium is £1,000,000 in advance subscriptions for shares that will be converted into shares at a conversion share price to be determined by dividing the company valuation by the fully diluted share capital in September 2023.

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.