REGISTERED NUMBER: |
Protool Plastics Group Limited |
Financial Statements for the Period 1st July 2022 to 31st December 2022 |
REGISTERED NUMBER: |
Protool Plastics Group Limited |
Financial Statements for the Period 1st July 2022 to 31st December 2022 |
Protool Plastics Group Limited (Registered number: 06812549) |
Contents of the Financial Statements |
for the period 1st July 2022 to 31st December 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Protool Plastics Group Limited |
Company Information |
for the period 1st July 2022 to 31st December 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditor |
Regent's Court |
Princess Street |
Hull |
East Yorkshire |
HU2 8BA |
Protool Plastics Group Limited (Registered number: 06812549) |
Balance Sheet |
31st December 2022 |
2022 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings | 8 |
SHAREHOLDERS' FUNDS |
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 |
Protool Plastics Group Limited (Registered number: 06812549) |
Notes to the Financial Statements |
for the period 1st July 2022 to 31st December 2022 |
1. | STATUTORY INFORMATION |
Protool Plastics Group Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Protool Plastics Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertakings are included by full consolidation in the consolidated financial statements of its parent, Advanced Plastics Group Limited, Bergen Way, Sutton Fields, Hull, East Yorkshire, HU7 0YQ. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at 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. |
Protool Plastics Group Limited (Registered number: 06812549) |
Notes to the Financial Statements - continued |
for the period 1st July 2022 to 31st December 2022 |
2. | ACCOUNTING POLICIES - continued |
Going concern |
The Directors have reviewed the financial position of Protool Plastics Group including consideration of the uncertainties arising from varying export economic conditions and any consequential impact of this upon trading and financing. |
The Directors recognise the 'risk' posed by an uncertain, volatile global supply chain and commodity pricing but believe this has reduced vs prior years. |
The Directors are confident that the resilience the business developed over the last few years as a result of the global issues has strengthened its ability to adapt and mitigate these risks, therefore do not consider it to affect the Companies ability to operate as a going concern. |
Based on the current order book, existing contracts, cost structure, current Balance Sheet, growth initiatives and increased investment plans, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. |
Accordingly, they continue to adopt the going concern basis in preparing the financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL (2022 - NIL). |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1st July 2022 |
and 31st December 2022 |
NET BOOK VALUE |
At 31st December 2022 |
At 30th June 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2022 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2022 |
£ | £ |
Amounts owed to group undertakings |
Protool Plastics Group Limited (Registered number: 06812549) |
Notes to the Financial Statements - continued |
for the period 1st July 2022 to 31st December 2022 |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2022 |
value: | £ | £ |
Ordinary | £1 | 200 | 200 |
8. | RESERVES |
Retained |
earnings |
£ |
At 1st July 2022 |
Deficit for the period | ( |
) |
At 31st December 2022 |
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
Protool Plastics Group Limited (Registered number: 06812549) |
Notes to the Financial Statements - continued |
for the period 1st July 2022 to 31st December 2022 |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the periods ending 31st December 2022 and 30 June 2022: |
31.12.2022 | 30.06.2022 |
M Hadfield (resigned 30.06.2022) | £ | £ |
Balance outstanding at start of the year | 40,000 | 24,000 |
Amounts advanced | - | 16,000 |
Amounts repaid | (40,000 | ) | - |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | - | 40,000 |
31.12.2022 | 30.06.2022 |
I Hunter (resigned 30.06.2022) | £ | £ |
Balance outstanding at start of the year | 150,000 | 90,000 |
Amounts advanced | - | 60,000 |
Amounts repaid | (150,000 | ) | - |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | - | 150,000 |
31.12.2022 | 30.06.2022 |
S Hall (resigned 30.06.2022) | £ | £ |
Balance outstanding at start of the year | 150,000 | 90,000 |
Amounts advanced | - | 60,000 |
Amounts repaid | (150,000 | ) | - |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | - | 150,000 |
31.12.2022 | 30.06.2022 |
G Wilkins (resigned 30.06.2022) | £ | £ |
Balance outstanding at start of the year | 60,000 | 36,000 |
Amounts advanced | 24,000 |
Amounts repaid | (60,000 | ) | - |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | - | 60,000 |
11. | ULTIMATE PARENT COMPANY |
The company's parent company is Protool Plastics Group Limited. |
The company's ultimate parent company is Advanced Plastics Group Limited, within whose group accounts the results of the company are consolidated. |
The consolidated financial statements of the group are available to the public and may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ. |