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REGISTERED NUMBER: 10588433 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

FOR

PRO LOFTS ESSEX LTD

PRO LOFTS ESSEX LTD (REGISTERED NUMBER: 10588433)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PRO LOFTS ESSEX LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: P J Meikle
Mrs C Gill





REGISTERED OFFICE: Clarence Street Chambers
32 Clarence Street
Southend-on-Sea
Essex
SS1 1BD





BUSINESS ADDRESS: 52 Collins Way
Leigh on sea
Essex
SS9 5UN





REGISTERED NUMBER: 10588433 (England and Wales)





ACCOUNTANTS: A.R. Lee & Co.
Chartered Certified Accountants
Clarence Street Chambers
32 Clarence Street
Southend-on-Sea
Essex
SS1 1BD

PRO LOFTS ESSEX LTD (REGISTERED NUMBER: 10588433)

BALANCE SHEET
31 JANUARY 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,783 16,611

CURRENT ASSETS
Stocks 13,500 63,333
Debtors 5 5,254 2,128
Cash at bank and in hand 16,184 2,648
34,938 68,109
CREDITORS
Amounts falling due within one year 6 40,139 52,217
NET CURRENT (LIABILITIES)/ASSETS (5,201 ) 15,892
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,582

32,503

CREDITORS
Amounts falling due after more than one
year

7

(38,235

)

(44,117

)

PROVISIONS FOR LIABILITIES (3,094 ) -
NET LIABILITIES (34,747 ) (11,614 )

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings (34,749 ) (11,616 )
SHAREHOLDERS' FUNDS (34,747 ) (11,614 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

PRO LOFTS ESSEX LTD (REGISTERED NUMBER: 10588433)

BALANCE SHEET - continued
31 JANUARY 2023


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 25 October 2023 and were signed on its behalf by:





P J Meikle - Director


PRO LOFTS ESSEX LTD (REGISTERED NUMBER: 10588433)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1. STATUTORY INFORMATION

Pro Lofts Essex Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

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.

PRO LOFTS ESSEX LTD (REGISTERED NUMBER: 10588433)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

2. ACCOUNTING POLICIES - continued

Going concern
Notwithstanding the deficiency of net current assets at the year end as shown in the balance sheet, the directors are confident the company can continue as a going concern on the basis of their continued financial support to the company.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2022 12,910 626 12,800 4,384 30,720
Additions - 500 - 833 1,333
Disposals - - (7,000 ) (280 ) (7,280 )
At 31 January 2023 12,910 1,126 5,800 4,937 24,773
DEPRECIATION
At 1 February 2022 2,654 350 7,486 3,619 14,109
Charge for year 1,025 194 345 660 2,224
Eliminated on disposal - - (3,063 ) (280 ) (3,343 )
At 31 January 2023 3,679 544 4,768 3,999 12,990
NET BOOK VALUE
At 31 January 2023 9,231 582 1,032 938 11,783
At 31 January 2022 10,256 276 5,314 765 16,611

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade debtors 5,200 1,582
Other debtors 54 546
5,254 2,128

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts 5,886 5,886
Trade creditors 5,374 11,323
Taxation and social security 15,900 8,674
Other creditors 12,979 26,334
40,139 52,217

PRO LOFTS ESSEX LTD (REGISTERED NUMBER: 10588433)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Bank loans 38,235 44,117

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 14,706 20,588

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
2 Ordinary £1 2 2