IRIS Accounts Production v23.2.0.158 07661482 Board of Directors 1.7.22 30.6.23 30.6.23 false true false false true false Ordinary 1.00000 Ordinary B 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh076614822022-06-30076614822023-06-30076614822022-07-012023-06-30076614822021-06-30076614822021-07-012022-06-30076614822022-06-3007661482ns10:Originalns15:EnglandWales2022-07-012023-06-3007661482ns14:PoundSterlingns10:Original2022-07-012023-06-3007661482ns10:Originalns10:Director12022-07-012023-06-3007661482ns10:Original2022-07-012023-06-3007661482ns10:Original2023-06-3007661482ns10:Originalns10:PrivateLimitedCompanyLtd2022-07-012023-06-3007661482ns10:Originalns10:SmallEntities2022-07-012023-06-3007661482ns10:Originalns10:AuditExempt-NoAccountantsReport2022-07-012023-06-3007661482ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-3007661482ns10:SmallCompaniesRegimeForAccountsns10:Original2022-07-012023-06-3007661482ns10:Originalns10:FullAccounts2022-07-012023-06-3007661482ns10:Originalns10:OrdinaryShareClass12022-07-012023-06-3007661482ns10:Originalns10:OrdinaryShareClass22022-07-012023-06-3007661482ns10:Originalns10:Director22022-07-012023-06-3007661482ns10:Originalns10:Director42022-07-012023-06-3007661482ns10:Originalns10:RegisteredOffice2022-07-012023-06-3007661482ns10:Original2022-06-3007661482ns10:Originalns5:CurrentFinancialInstruments2023-06-3007661482ns10:Originalns5:CurrentFinancialInstruments2022-06-3007661482ns5:ShareCapitalns10:Original2023-06-3007661482ns5:ShareCapitalns10:Original2022-06-3007661482ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-06-3007661482ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-06-3007661482ns10:Originalns5:OwnedOrFreeholdAssetsns5:LandBuildings2022-07-012023-06-3007661482ns10:Originalns5:ShortLeaseholdAssetsns5:LandBuildings2022-07-012023-06-3007661482ns5:LongLeaseholdAssetsns10:Originalns5:LandBuildings2022-07-012023-06-3007661482ns10:Originalns5:LeaseholdImprovements2022-07-012023-06-3007661482ns10:Originalns5:PlantMachinery2022-07-012023-06-3007661482ns10:Originalns5:FurnitureFittings2022-07-012023-06-3007661482ns10:Original2021-07-012022-06-3007661482ns10:Originalns5:LandBuildings2022-06-3007661482ns10:Originalns5:ShortLeaseholdAssetsns5:LandBuildings2022-06-3007661482ns5:LongLeaseholdAssetsns10:Originalns5:LandBuildings2022-06-3007661482ns10:Originalns5:LandBuildings2022-07-012023-06-3007661482ns10:Originalns5:LandBuildings2023-06-3007661482ns10:Originalns5:ShortLeaseholdAssetsns5:LandBuildings2023-06-3007661482ns5:LongLeaseholdAssetsns10:Originalns5:LandBuildings2023-06-3007661482ns10:Originalns5:LandBuildings2022-06-3007661482ns10:Originalns5:ShortLeaseholdAssetsns5:LandBuildings2022-06-3007661482ns5:LongLeaseholdAssetsns10:Originalns5:LandBuildings2022-06-3007661482ns10:Originalns5:LeaseholdImprovements2022-06-3007661482ns10:Originalns5:PlantMachinery2022-06-3007661482ns10:Originalns5:FurnitureFittings2022-06-3007661482ns10:Original2022-06-3007661482ns10:Originalns5:LeaseholdImprovements2023-06-3007661482ns10:Originalns5:PlantMachinery2023-06-3007661482ns10:Originalns5:FurnitureFittings2023-06-3007661482ns10:Originalns5:LeaseholdImprovements2022-06-3007661482ns10:Originalns5:PlantMachinery2022-06-3007661482ns10:Originalns5:FurnitureFittings2022-06-3007661482ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3007661482ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-06-3007661482ns10:Originalns5:WithinOneYear2023-06-3007661482ns10:Originalns5:WithinOneYear2022-06-3007661482ns5:BetweenOneFiveYearsns10:Original2023-06-3007661482ns5:BetweenOneFiveYearsns10:Original2022-06-3007661482ns10:Originalns5:AllPeriods2023-06-3007661482ns10:Originalns5:AllPeriods2022-06-3007661482ns10:Originalns10:OrdinaryShareClass12023-06-3007661482ns10:Originalns10:OrdinaryShareClass22023-06-30
REGISTERED NUMBER: 07661482 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 30 June 2023

for

Prototrim Limited

Prototrim Limited (Registered number: 07661482)






Contents of the Financial Statements
for the year ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 7


Prototrim Limited

Company Information
for the year ended 30 June 2023







DIRECTORS: Mr D F Cox
Mrs J Cox
Mr D Cox





REGISTERED OFFICE: Cherry Tree House
Whaddon Hall Mews
Whaddon
Milton Keynes
Buckinghamshire
MK17 0NA





REGISTERED NUMBER: 07661482 (England and Wales)





ACCOUNTANTS: Clifford Roberts
Chartered Accountants
Pacioli House
9 Brookfield
Duncan Close
Northampton
Northamptonshire
NN3 6WL

Prototrim Limited (Registered number: 07661482)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 71,546 127,956

CURRENT ASSETS
Debtors 5 89,284 133,377
Cash at bank and in hand 103,774 282,493
193,058 415,870
CREDITORS
Amounts falling due within one year 6 113,724 92,072
NET CURRENT ASSETS 79,334 323,798
TOTAL ASSETS LESS CURRENT
LIABILITIES

150,880

451,754

PROVISIONS FOR LIABILITIES 1,014 2,974
NET ASSETS 149,866 448,780

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 149,766 448,680
SHAREHOLDERS' FUNDS 149,866 448,780

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 24 October 2023 and were signed on its behalf by:



Mr D Cox - Director


Prototrim Limited (Registered number: 07661482)

Notes to the Financial Statements
for the year ended 30 June 2023

1. STATUTORY INFORMATION

Prototrim 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.

The principal place of business is Unit 35, Heathfield, Stacey Bushes, Milton Keynes, MK12 6HR

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.

The financial statements are presented in Sterling (£) and cover the period to the 30th June each year.

Going Concern
At the time of approving the financial statements, the directors' have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

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 represents the invoiced amount of services and products manufactured stated net of value added tax. The turnover and pre tax profit is wholly attributable to the operating activities of the company. Turnover is recognised upon evidence of the delivery or completion of the service.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Short leasehold - 33% on cost
Leasehold Improvements - 33% on cost
Improvements to property - 2% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost

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.


Prototrim Limited (Registered number: 07661482)

Notes to the Financial Statements - continued
for the year ended 30 June 2023

2. ACCOUNTING POLICIES - continued
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.

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.

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.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Interest bearing borrowings
Interest bearing borrowings are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, interest bearing borrowings are stated at amortised cost with any difference between the amount initially recognised and redemption value being recognised in the statement of comprehensive income over the period of the borrowings, together with any interest and fees payable, using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 9 ) .

Prototrim Limited (Registered number: 07661482)

Notes to the Financial Statements - continued
for the year ended 30 June 2023

4. TANGIBLE FIXED ASSETS
Freehold Short Leasehold
property leasehold Improvements
£    £    £   
COST
At 1 July 2022 95,000 13,172 10,510
Additions - - 65,268
Disposals (95,000 ) - -
At 30 June 2023 - 13,172 75,778
DEPRECIATION
At 1 July 2022 20,900 4,347 2,364
Charge for year - 4,347 10,401
Eliminated on disposal (20,900 ) - -
At 30 June 2023 - 8,694 12,765
NET BOOK VALUE
At 30 June 2023 - 4,478 63,013
At 30 June 2022 74,100 8,825 8,146

Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 July 2022 41,604 48,496 17,655 226,437
Additions - 3,000 - 68,268
Disposals (41,604 ) - - (136,604 )
At 30 June 2023 - 51,496 17,655 158,101
DEPRECIATION
At 1 July 2022 7,196 47,934 15,740 98,481
Charge for year - 826 596 16,170
Eliminated on disposal (7,196 ) - - (28,096 )
At 30 June 2023 - 48,760 16,336 86,555
NET BOOK VALUE
At 30 June 2023 - 2,736 1,319 71,546
At 30 June 2022 34,408 562 1,915 127,956

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 44,792 82,411
Other debtors 44,492 50,966
89,284 133,377

Prototrim Limited (Registered number: 07661482)

Notes to the Financial Statements - continued
for the year ended 30 June 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 21,544
Amounts owed to group undertakings 1,675 1,675
Taxation and social security 107,673 64,210
Other creditors 4,376 4,643
113,724 92,072

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 35,000 60,000
Between one and five years - 35,000
35,000 95,000

8. FINANCIAL RISK MANAGEMENT

The company has some exposure to credit, liquidity and cash flow interest rate risks, These risks are limited by the company's financial management policies and practices described below.

Foreign currency risk
Some of the companies sales and purchases can from entities in other currencies, and so the company is exposed to foreign currency fluctuations, where possible the company tries to invoice on a proforma basis or in sterling to limit the foreign currency risk exposure.

Credit risk
The company's exposure and it's customers credit worthiness is continually monitored so that any potential problems are detected at an early stage, this is less of a risk given the types of clients being invoiced, but in certain circumstances, outside of the companies ability to influence, there is risk that payment may not be forthcoming.

Liquidity risk
The directors have ultimate responsibility for liquidity risk management in maintaining adequate reserves and banking facilities.

Market risk
There is a market risk associated with the fluctuation in demand for the products and services provided. Most of this is mitigated by monitoring the market for the services provided, and given the project based nature of the majority of the work, the directors take a serious attitude towards this risk.

The company holds no derivative financial instruments at the year end.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50 Ordinary £1 50 50
50 Ordinary B £1 50 50
100 100

Prototrim Limited (Registered number: 07661482)

Notes to the Financial Statements - continued
for the year ended 30 June 2023

10. ULTIMATE CONTROLLING PARTY

At the balance sheet date, ultimate control was split between Techtrim Holdings Limited and Flemans Holdings Limited.