Proconnect Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 08163853 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2022

for

Proconnect Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

C Lynn

SECRETARY:

REGISTERED OFFICE:

Strathmore

Corn Mill Drive

Houghton le Spring

Tyne and Wear

DH5 9NP

REGISTERED NUMBER:

08163853 (England and Wales)

FIXED ASSETS

Tangible assets

4

9,532

10,375

CURRENT ASSETS

Stocks

1,538

1,732

Debtors

5

36,847

58,801

Cash at bank and in hand

101,044

54,816

139,429

115,349

CREDITORS

Amounts falling due within one year

6

91,081

70,660

NET CURRENT ASSETS

48,348

44,689

TOTAL ASSETS LESS CURRENT LIABILITIES

57,880

55,064

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

57,780

54,964

SHAREHOLDERS' FUNDS

57,880

55,064

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 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 19 December 2022 and were signed by:

C Lynn - Director

1.	STATUTORY INFORMATION

Proconnect Limited 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.

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.

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

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.

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 3 (2021 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2021

19,965

Additions

1,325

At 31 August 2022

21,290

DEPRECIATION

At 1 September 2021

9,590

Charge for year

2,168

At 31 August 2022

11,758

NET BOOK VALUE

At 31 August 2022

9,532

At 31 August 2021

10,375

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.22

31.8.21

£

£

Trade debtors

36,847

58,801

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.22

31.8.21

£

£

Bank loans and overdrafts

-

30,000

Trade creditors

5,707

8,800

Taxation and social security

14,925

10,266

Other creditors

70,449

21,594

91,081

70,660