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REGISTERED NUMBER: 01790532 (England and Wales)












PROTHERM ENGINEERING (WALSALL) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






PROTHERM ENGINEERING (WALSALL) LIMITED (REGISTERED NUMBER: 01790532)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 6

PROTHERM ENGINEERING (WALSALL) LIMITED

COMPANY INFORMATION
for the year ended 31 March 2023







DIRECTORS: S W Clark
R J Clark





REGISTERED OFFICE: Unit 33, Birchbrook Industrial Estate
Lynn Lane
Shenstone
Lichfield
Staffordshire
WS14 0DJ





REGISTERED NUMBER: 01790532 (England and Wales)





ACCOUNTANTS: Equus Miller Limited
Chartered Certified Accountants
Brook House
47 High Street
Henley in Arden
Warwickshire
B95 5AA

PROTHERM ENGINEERING (WALSALL) LIMITED (REGISTERED NUMBER: 01790532)

BALANCE SHEET
31 March 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,853 4,801

CURRENT ASSETS
Stocks - 78,996
Debtors 5 255,279 107,179
Cash at bank and in hand 48,429 120,208
303,708 306,383
CREDITORS
Amounts falling due within one year 6 221,131 221,123
NET CURRENT ASSETS 82,577 85,260
TOTAL ASSETS LESS CURRENT
LIABILITIES

87,430

90,061

CREDITORS
Amounts falling due after more than one
year

7

(34,023

)

(43,688

)

PROVISIONS FOR LIABILITIES (841 ) -
NET ASSETS 52,566 46,373

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 52,564 46,371
SHAREHOLDERS' FUNDS 52,566 46,373

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

The members have not required the company to obtain an audit of its financial statements for the year 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2023 and were signed on its behalf by:




S W Clark - Director


PROTHERM ENGINEERING (WALSALL) LIMITED (REGISTERED NUMBER: 01790532)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2023

1. STATUTORY INFORMATION

Protherm Engineering (Walsall) 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover has been recognised in accordance with the accounting principles stipulated within Urgent Issues Task Force Abstract 40.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Over a period of ten years
Plant and machinery - 10% on cost

Stock and work in progress
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

In recognising work in progress, a proportionate share of the estimated profit is taken to the profit and loss account dependent on the progress of the contract. Provision is made for foreseeable losses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 year 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.

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.

PROTHERM ENGINEERING (WALSALL) LIMITED (REGISTERED NUMBER: 01790532)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
During the year, the company made contributions into the director's and employees' personal pension schemes. The cost of these contributions is detailed in the profit and loss account.

Warranties
The company provides warranties at the time of sale to purchases of its product. Under the terms of the contract for sale, the company undertakes to make good, by repair or replacement, manufacturing defects that become apparent within one year from the date of sale. Warranty expenditure is now minimal and as such, any repair or maintenance costs are shown in the year in which they occur. Consequently, no provision has been made in these financial statements.

Investments
Fixed asset investments are reflected at market value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 April 2022 19,332 12,183 - 31,515
Additions - - 1,228 1,228
At 31 March 2023 19,332 12,183 1,228 32,743
DEPRECIATION
At 1 April 2022 19,332 7,382 - 26,714
Charge for year - 771 405 1,176
At 31 March 2023 19,332 8,153 405 27,890
NET BOOK VALUE
At 31 March 2023 - 4,030 823 4,853
At 31 March 2022 - 4,801 - 4,801

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade debtors 179,666 20,910
Amounts owed by related undertakings 59,742 59,766
VAT 1,568 13,767
Prepayments 14,303 12,736
255,279 107,179

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade creditors 16,446 88,462
Amounts owed to group undertakings 27,420 27,420
Social security & other taxes 596 544
Other creditors 276 253
Accruals and deferred income 176,393 104,444
221,131 221,123

PROTHERM ENGINEERING (WALSALL) LIMITED (REGISTERED NUMBER: 01790532)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/3/23 31/3/22
£    £   
Bank loans - 1-2 years 9,492 9,492
Bank loans - 2-5 years 24,531 34,196
34,023 43,688

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/23 31/3/22
value: £    £   
200 Ordinary 1p 2 2

9. ULTIMATE PARENT COMPANY AND CONTROLLING PARTY

The company's immediate parent undertaking is Protherm Engineering (Shenstone) Limited. The company's ultimate parent undertaking is Protherm Engineering Holdings Ltd, a company incorporated in England and Wales. There is no ultimate controlling party of Protherm Engineering (Shenstone) Limited.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PROTHERM ENGINEERING (WALSALL) LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Protherm Engineering (Walsall) Limited for the year ended 31 March 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Protherm Engineering (Walsall) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Protherm Engineering (Walsall) Limited and state those matters that we have agreed to state to the Board of Directors of Protherm Engineering (Walsall) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Protherm Engineering (Walsall) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Protherm Engineering (Walsall) Limited. You consider that Protherm Engineering (Walsall) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Protherm Engineering (Walsall) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Equus Miller Limited
Chartered Certified Accountants
Brook House
47 High Street
Henley in Arden
Warwickshire
B95 5AA


12 September 2023