ProAudium Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 06785185 (England and Wales)

Unaudited Financial Statements

for the Period 1 February 2022 to 31 March 2023

for

ProAudium Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D J Read

N J Williams

REGISTERED OFFICE:

Unit 5, Malling Business Centre

112 Malling Street

Lewes

East Sussex

BN7 2RG

REGISTERED NUMBER:

06785185 (England and Wales)

ACCOUNTANTS:

Bentleys Accounting Limited

Suite 6, 141/143 South Road

Haywards Heath

West Sussex

RH16 4LY

FIXED ASSETS

Tangible assets

4

26,721

17,573

Investments

5

20,210

20,210

46,931

37,783

CURRENT ASSETS

Debtors

6

13,212

47,541

Cash at bank

163,489

105,604

176,701

153,145

CREDITORS

Amounts falling due within one year

7

106,386

54,440

NET CURRENT ASSETS

70,315

98,705

TOTAL ASSETS LESS CURRENT LIABILITIES

117,246

136,488

CREDITORS

Amounts falling due after more than one year

8

(3,786

)

(5,204

)

PROVISIONS FOR LIABILITIES

(4,393

)

(4,393

)

NET ASSETS

109,067

126,891

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

108,067

125,891

SHAREHOLDERS' FUNDS

109,067

126,891

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2023 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 June 2023 and were signed on its behalf by:

N J Williams - Director

1.	STATUTORY INFORMATION

ProAudium 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.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

33% on reducing balance

Computer equipment

-

33% on cost

Taxation

Taxation for the period 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 period 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.

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 period was 7 (2022 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 February 2022

3,259

7,296

53,793

23,587

87,935

Additions

331

429

28,999

2,428

32,187

Disposals

-

-

(11,740

)

-

(11,740

)

At 31 March 2023

3,590

7,725

71,052

26,015

108,382

DEPRECIATION

At 1 February 2022

2,371

4,285

44,193

19,513

70,362

Charge for period

483

960

17,824

3,772

23,039

Eliminated on disposal

-

-

(11,740

)

-

(11,740

)

At 31 March 2023

2,854

5,245

50,277

23,285

81,661

NET BOOK VALUE

At 31 March 2023

736

2,480

20,775

2,730

26,721

At 31 January 2022

888

3,011

9,600

4,074

17,573

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

31.3.23

31.1.22

£

£

Gold and Silver

20,210

20,210

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.1.22

£

£

Trade debtors

4,183

40,516

Other debtors

1,620

1,620

Prepayments

7,409

5,405

13,212

47,541

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.1.22

£

£

Bank loans and overdrafts

5,213

11,474

Trade creditors

7,432

1,779

Amounts owed to group undertakings

45,054

-

Tax

25,721

16,349

Social security and other taxes

865

1,086

VAT

16,523

18,349

Other creditors

1,858

1,617

Directors' current accounts

1,745

2,236

Accrued expenses

1,975

1,550

106,386

54,440

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.1.22

£

£

Bank loans - 2-5 years

3,786

5,204

9.	RELATED PARTY DISCLOSURES

Included within Creditors under 1 year is an amount of £ 45,054 due to Gain Group Limited.

Gain Group Limited is the ultimate Parent Company.

During the period the company paid dividends of £ 131,540 to Gain Group Limited.