Propoly Online Limited - Accounts to registrar (filleted) - small 18.2
Propoly Online Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 30 June 2020 |
| for |
| Propoly Online Limited |
| T/A |
| Propoly |
| Propoly Online Limited (Registered number: 09099516) |
| T/A Propoly |
| Contents of the Financial Statements |
| for the Year Ended 30 June 2020 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Propoly Online Limited |
| T/A Propoly |
| Company Information |
| for the Year Ended 30 June 2020 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 5 Technology Park |
| Colindeep Lane |
| Colindale |
| London |
| NW9 6BX |
| Propoly Online Limited (Registered number: 09099516) |
| T/A Propoly |
| Statement of Financial Position |
| 30 June 2020 |
| 2020 | 2019 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium | 8 |
| Retained earnings | 8 | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS |
| 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. |
| Propoly Online Limited (Registered number: 09099516) |
| T/A Propoly |
| Statement of Financial Position - continued |
| 30 June 2020 |
| 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 |
| Propoly Online Limited (Registered number: 09099516) |
| T/A Propoly |
| Notes to the Financial Statements |
| for the Year Ended 30 June 2020 |
| 1. | STATUTORY INFORMATION |
| Propoly Online Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared on a going concern basis as, in the opinion of the directors, the company will continue to receive support from their shareholders for a period of at least 12 months from the date the financial statements were signed. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Turnover is recognised at the point of sale. |
| Intangible assets |
| Websites and platforms are amortised evenly over their estimated useful life of 5 years from the date the assets were first brought into use. |
| Tangible fixed assets |
| Computer equipment | - |
| Government grants |
| The company recognises government grants received relating to the Coronavirus Job Retention Scheme on an accrual basis. |
| Financial instruments |
| The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties, loans to related parties and investments in non-puttable ordinary shares. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. |
| Debtors |
| Basic financial assets, including trade and other debtors, are measured at transaction price, less any impairment. |
| Cash and cash equivalents |
| Cash and cash equivalents represented by cash in hand and deposits held at call with financial institutions, are measured at amortised cost. |
| Creditors |
| Basic financial liabilities, including trade and other creditors, are measured at transaction price. |
| Propoly Online Limited (Registered number: 09099516) |
| T/A Propoly |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Research and development |
| Research expenditure is written off in the year in which it is incurred. Website and platform development costs are capitalised. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| 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 |
| Propoly Online Limited (Registered number: 09099516) |
| T/A Propoly |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2020 |
| 4. | INTANGIBLE FIXED ASSETS |
| Websites |
| & platforms |
| £ |
| COST |
| At 1 July 2019 |
| Additions |
| At 30 June 2020 |
| AMORTISATION |
| At 1 July 2019 |
| Amortisation for year |
| At 30 June 2020 |
| NET BOOK VALUE |
| At 30 June 2020 |
| At 30 June 2019 |
| 5. | TANGIBLE FIXED ASSETS |
| Computer |
| equipment |
| £ |
| COST |
| At 1 July 2019 |
| Additions |
| At 30 June 2020 |
| DEPRECIATION |
| At 1 July 2019 |
| Charge for year |
| At 30 June 2020 |
| NET BOOK VALUE |
| At 30 June 2020 |
| At 30 June 2019 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Value added tax |
| Propoly Online Limited (Registered number: 09099516) |
| T/A Propoly |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 June 2020 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade creditors |
| Social security & other tax |
| Other creditors |
| Directors' current accounts | 268 | 321 |
| Accruals & deferred income |
| 8. | RESERVES |
| Called-up share capital represents the nominal value of shares that have been issued. |
| Share premium includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium. |
| Retained earnings includes all current and prior period retained profits and losses, all of which are distributable reserves. |