Registered number
11208342
Protea Care Limited
Filleted Accounts
28 February 2023
Protea Care Limited
Registered number: 11208342
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 71,529 42,100
Current assets
Debtors 4 194,806 168,217
Cash at bank and in hand 14,349 62,945
209,155 231,162
Creditors: amounts falling due within one year 5 (154,480) (158,023)
Net current assets 54,675 73,139
Total assets less current liabilities 126,204 115,239
Creditors: amounts falling due after more than one year 6 (67,328) (71,867)
Net assets 58,876 43,372
Capital and reserves
Called up share capital 100 100
Profit and loss account 58,776 43,272
Shareholders' funds 58,876 43,372
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Gregory Colin Steyn
Director
Approved by the board on 22 September 2023
Protea Care Limited
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 30 24
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2022 42,864 28,140 71,004
Additions 43,375 11,163 54,538
At 28 February 2023 86,239 39,303 125,542
Depreciation
At 1 March 2022 18,593 10,311 28,904
Charge for the year 17,248 7,861 25,109
At 28 February 2023 35,841 18,172 54,013
Net book value
At 28 February 2023 50,398 21,131 71,529
At 28 February 2022 24,271 17,829 42,100
4 Debtors 2023 2022
£ £
Trade debtors 130,388 130,403
Other debtors 64,418 37,814
194,806 168,217
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 29,213 15,255
Taxation and social security costs 71,195 55,255
Other creditors 54,072 87,513
154,480 158,023
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 67,328 71,867
7 Related party transactions
Other debtors at the year end includes an amount of £33,709 (£nil) due from Protea Care 2 Ltd, a company where the directors Gregory Colin Steyn and Tanya Ann Netto have an interest. Other debtors also include £7,000 (2022: £nil) due from Protea Properties 1 Ltd, a company where the directors Gregory Colin Steyn and Tanya Ann Netto have an interest.

These amounts are unsecured, interest free and repayable on demand.

Other debtors includes an amount of £1,235 (2022: £nil) due from the directors Gregory Colin Steyn and Tanya Ann Netto. It is an intention of the directors to repay this amount within nine months of the year end.

Other debtors includes an amount of £nil (2022: £8,014) due from Delo Property Management Ltd, a company where the director Gregory Colin Steyn has an interest.

Other creditors include an amount of £nil (2022: £42,052) due to the directors Gregory Colin Steyn and Tanya Ann Netto. Other creditors at the year end also includes an amount of £1,927 (2022: £nil) due to Delo Property Management Ltd, a company where the director Gregory Colin Steyn has an interest. Other creditors includes an amount of £nil (2022: £13,213) due to Protea Care 2 Ltd, a company where the directors Gregory Colin Steyn and Tanya Ann Netto have an interest.

These amounts are unsecured, interest free and repayable on demand.

8 Controlling party
In the opinion of the directors, there is no controlling party in the company.
9 Other information
Protea Care Limited is a private company limited by shares and incorporated in England. Its registered office is:
317 Horn Lane
Acton
London W3 0BU
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