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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 APRIL 2021 |
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PRGLOO LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 APRIL 2021 |
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FOR |
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PRGLOO LIMITED |
PRGLOO LIMITED (REGISTERED NUMBER: 08984741) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2021 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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PRGLOO LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
4 Fenice Court |
Phoenix Business Park |
Eaton Socon |
St. Neots |
Cambridgeshire |
PE19 8EP |
PRGLOO LIMITED (REGISTERED NUMBER: 08984741) |
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STATEMENT OF FINANCIAL POSITION |
30 APRIL 2021 |
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2021 | 2020 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS/(LIABILITIES) |
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( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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( |
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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 LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Share premium |
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Retained earnings | ( |
) | (247,791 | ) |
SHAREHOLDERS' FUNDS | ( |
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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. |
PRGLOO LIMITED (REGISTERED NUMBER: 08984741) |
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STATEMENT OF FINANCIAL POSITION - continued |
30 APRIL 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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PRGLOO LIMITED (REGISTERED NUMBER: 08984741) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2021 |
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1. | STATUTORY INFORMATION |
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Prgloo Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going Concern |
The balance sheet is overdrawn due to the deferment recognition of non-refundable subscriptions in accordance with FRS 102 to the value of £625,254 (2020 - £488,645), and if you were to recognise the income at the point of sale then the retained profits would instead be £351,076 (2020 - £299,406). |
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The accounts have also been prepared on the going concern basis on the assumption that the support of the company's directors will continue. On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of any borrowing facility. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Turnover in relation to installation is recognised as at the install date and turnover in relation to support and newsroom sales is deferred over the term of the contract. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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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. |
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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 statement of financial position date. |
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PRGLOO LIMITED (REGISTERED NUMBER: 08984741) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2021 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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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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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. |
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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. |
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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 |
Other |
intangible |
assets |
£ |
COST |
At 1 May 2020 |
and 30 April 2021 |
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AMORTISATION |
At 1 May 2020 |
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Charge for year |
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At 30 April 2021 |
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NET BOOK VALUE |
At 30 April 2021 |
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At 30 April 2020 |
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PRGLOO LIMITED (REGISTERED NUMBER: 08984741) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2021 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 May 2020 |
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Additions |
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At 30 April 2021 |
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DEPRECIATION |
At 1 May 2020 |
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Charge for year |
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At 30 April 2021 |
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NET BOOK VALUE |
At 30 April 2021 |
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At 30 April 2020 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
as restated |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
as restated |
£ | £ |
Bank loans and overdrafts |
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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 |
2021 | 2020 |
as restated |
£ | £ |
Bank loans |
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Other creditors |
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PRGLOO LIMITED (REGISTERED NUMBER: 08984741) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2021 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted and issued: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | as restated |
£ | £ |
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Ordinary shares | 0.000 | 1 | 300 | 250 |
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500,000 Ordinary shares of 0.0001 each were allotted
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EMI share options |
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The company operates an EMI share option scheme. |
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At the reporting date, there were EMI share options available to seventeen employees; in respect of a total of 269,000 (2020 - 160,000) Ordinary shares at a cost of £0.0001 per share. The new options were issued in March 2021 and April 2021. |
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Ordinary share options |
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The company operates a share option scheme. |
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At the reporting date, there were share options available to two shareholder in respect of a total of 5,000 (2020 - £5,000) Ordinary shares at a cost of £0.0001 per share. |
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10. | CONTINGENT LIABILITIES |
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The company is carrying out an ongoing review of the EMI options scheme, and whether any of the options form part of an unapproved options scheme. Should any of the options be part of an unapproved scheme, the company may have a liability regarding Employers National Insurance upon the exercise of these options. |
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11. | OTHER FINANCIAL COMMITMENTS |
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During the year ended 30 April 2020, Mr Stubbs and Ms Deek provided a funding facility by way of making available a loan facility of £120,000 with drawdown on the funds as and when required. Repayment of the loans would be restricted to a maximum aggregate value of £2,000 per month. A finance charge of 30% of any amounts drawn on the facility will become payable in the event of the company merging with or being acquired by a third party, with any such charge becoming payable in full on the date of completion of any such merger or aquisition. |
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At the reporting date, although the facility was available, only Mr Stubbs had provided £50,000 as a loan to the company. This is shown within the creditors due after one year. |
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12. | RELATED PARTY DISCLOSURES |
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During the year the company paid professional fees of £75,259 (2020 - £94,148) to IH Solutions Limited, a company which is owned by a Mr I Hill. Mr I Hill is also a shareholder within Prgloo Limited. As at the year end, the amount owed to IH Solutions Limited is nil (2020 - nil). |