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REGISTERED NUMBER: 06812549 (England and Wales)


















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: R J Anderson
C J Pearson





REGISTERED OFFICE: 28 Standard Way
Fareham Industrial Park
Fareham
Hampshire
PO16 8XG





REGISTERED NUMBER: 06812549 (England and Wales)





AUDITORS: Smailes Goldie
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 4 105 105

CURRENT ASSETS
Debtors 5 1,581,600 400,000
Cash at bank 109,787 749,950
1,691,387 1,149,950
CREDITORS
Amounts falling due within one year 6 1,131,673 588,286
NET CURRENT ASSETS 559,714 561,664
TOTAL ASSETS LESS CURRENT
LIABILITIES

559,819

561,769

CAPITAL AND RESERVES
Called up share capital 7 200 200
Retained earnings 8 559,619 561,569
SHAREHOLDERS' FUNDS 559,819 561,769

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 26th September 2023 and were signed on its behalf by:




R J Anderson - Director



C J Pearson - Director


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 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.

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 105
NET BOOK VALUE
At 31st December 2022 105
At 30th June 2022 105

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2022
£    £   
Amounts owed by group undertakings 1,581,600 -
Other debtors - 400,000
1,581,600 400,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2022
£    £   
Amounts owed to group undertakings 1,131,673 588,286

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: £    £   
200 Ordinary £1 200 200

8. RESERVES
Retained
earnings
£   

At 1st July 2022 561,569
Deficit for the period (1,950 )
At 31st December 2022 559,619

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen Bramall BSc FCA (Senior Statutory Auditor)
for and on behalf of Smailes Goldie

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:

31.12.202230.06.2022
M Hadfield (resigned 30.06.2022)£   £   
Balance outstanding at start of the year40,00024,000
Amounts advanced-16,000
Amounts repaid(40,000)-
Amounts written off--
Amounts waived--
Balance outstanding at end of year-40,000

31.12.202230.06.2022
I Hunter (resigned 30.06.2022)£   £   
Balance outstanding at start of the year150,00090,000
Amounts advanced-60,000
Amounts repaid(150,000)-
Amounts written off--
Amounts waived--
Balance outstanding at end of year-150,000

31.12.202230.06.2022
S Hall (resigned 30.06.2022)£   £   
Balance outstanding at start of the year150,00090,000
Amounts advanced-60,000
Amounts repaid(150,000)-
Amounts written off--
Amounts waived--
Balance outstanding at end of year-150,000

31.12.202230.06.2022
G Wilkins (resigned 30.06.2022)£   £   
Balance outstanding at start of the year60,00036,000
Amounts advanced24,000
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.