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REGISTERED NUMBER:
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ProGARM Limited |
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Unaudited Financial Statements for the Year Ended 31st December 2017 |
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REGISTERED NUMBER:
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ProGARM Limited |
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Unaudited Financial Statements for the Year Ended 31st December 2017 |
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ProGARM Limited (Registered number: 08552746) |
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Contents of the Financial Statements |
for the year ended 31st December 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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ProGARM Limited |
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Company Information |
for the year ended 31st December 2017 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Regent's Court |
Princess Street |
Hull |
East Yorkshire |
HU2 8BA |
ProGARM Limited (Registered number: 08552746) |
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Balance Sheet |
31st December 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
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( |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Deferred Shares |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
ProGARM Limited (Registered number: 08552746) |
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Balance Sheet - continued |
31st December 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the director on
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ProGARM Limited (Registered number: 08552746) |
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Notes to the Financial Statements |
for the year ended 31st December 2017 |
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1. | STATUTORY INFORMATION |
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ProGARM Limited is a
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company's registered number and registered office address can be found on the Company Information |
page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced sales of goods and services, excluding value added tax. |
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Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, was |
amortised evenly over its estimated useful life of three years. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss |
Account, except to the extent that it relates to items recognised in other comprehensive income or |
directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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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. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at |
the balance sheet 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. |
ProGARM Limited (Registered number: 08552746) |
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Notes to the Financial Statements - continued |
for the year ended 31st December 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution plan for the benefit of its employees. Contributions are |
expensed as they become payable. |
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Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at |
each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's |
cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount |
exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is |
carried at a revalued amount where the impairment loss is a revaluation decrease. |
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Debtors and creditors receivable/payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are |
recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss |
account in other administrative expenses. |
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Leasing |
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease |
term and the expected useful life of the asset. Minimum lease payments are apportioned between the |
finance charge and the reduction of the outstanding lease liability using the effective interest method. |
The related obligations, net of future finance charges, are included in creditors. |
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Rentals payable under operating leases are charged to the profit and loss account on a straight line |
basis over the period of the lease. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1st January 2017 |
and 31st December 2017 |
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AMORTISATION |
At 1st January 2017 |
and 31st December 2017 |
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NET BOOK VALUE |
At 31st December 2017 |
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At 31st December 2016 |
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ProGARM Limited (Registered number: 08552746) |
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Notes to the Financial Statements - continued |
for the year ended 31st December 2017 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1st January 2017 |
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Additions |
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Disposals | ( |
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At 31st December 2017 |
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DEPRECIATION |
At 1st January 2017 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31st December 2017 |
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NET BOOK VALUE |
At 31st December 2017 |
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At 31st December 2016 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Finance leases (see note 9) |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Finance leases (see note 9) |
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Other creditors |
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ProGARM Limited (Registered number: 08552746) |
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Notes to the Financial Statements - continued |
for the year ended 31st December 2017 |
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9. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Finance leases |
2017 | 2016 |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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Non-cancellable |
operating leases |
2017 | 2016 |
£ | £ |
Between one and five years |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Finance leases | 9,422 | 36,904 |
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Finance lease liabilities are secured on the related asset. |
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11. | OTHER FINANCIAL COMMITMENTS |
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Within other creditors is an amount of £160 (2016 £711) relating to pension contributions yet to be paid |
at the year end. |