IRIS Accounts Production v23.3.1.45 09208068 Board of Directors 1.4.22 31.3.23 31.3.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh092080682022-03-31092080682023-03-31092080682022-04-012023-03-31092080682021-03-31092080682021-04-012022-03-31092080682022-03-3109208068ns10:Originalns15:EnglandWales2022-04-012023-03-3109208068ns14:PoundSterlingns10:Original2022-04-012023-03-3109208068ns10:Originalns10:Director12022-04-012023-03-3109208068ns10:Original2022-04-012023-03-3109208068ns10:Original2023-03-3109208068ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-3109208068ns10:Originalns10:SmallEntities2022-04-012023-03-3109208068ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3109208068ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3109208068ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-3109208068ns10:Originalns10:FullAccounts2022-04-012023-03-3109208068ns10:Originalns10:Director22022-04-012023-03-3109208068ns10:Originalns10:RegisteredOffice2022-04-012023-03-3109208068ns10:Original2022-03-3109208068ns10:Originalns5:CurrentFinancialInstruments2023-03-3109208068ns10:Originalns5:CurrentFinancialInstruments2022-03-3109208068ns10:Originalns5:Non-currentFinancialInstruments2023-03-3109208068ns10:Originalns5:Non-currentFinancialInstruments2022-03-3109208068ns5:ShareCapitalns10:Original2023-03-3109208068ns5:ShareCapitalns10:Original2022-03-3109208068ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3109208068ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3109208068ns10:Originalns5:PlantMachinery2022-04-012023-03-3109208068ns10:Original2021-04-012022-03-3109208068ns10:Originalns5:PlantMachinery2022-03-3109208068ns10:Originalns5:FurnitureFittings2022-03-3109208068ns10:Originalns5:MotorVehicles2022-03-3109208068ns10:Originalns5:ComputerEquipment2022-03-3109208068ns10:Original2022-03-3109208068ns10:Originalns5:FurnitureFittings2022-04-012023-03-3109208068ns10:Originalns5:MotorVehicles2022-04-012023-03-3109208068ns10:Originalns5:ComputerEquipment2022-04-012023-03-3109208068ns10:Originalns5:PlantMachinery2023-03-3109208068ns10:Originalns5:FurnitureFittings2023-03-3109208068ns10:Originalns5:MotorVehicles2023-03-3109208068ns10:Originalns5:ComputerEquipment2023-03-3109208068ns10:Originalns5:PlantMachinery2022-03-3109208068ns10:Originalns5:FurnitureFittings2022-03-3109208068ns10:Originalns5:MotorVehicles2022-03-3109208068ns10:Originalns5:ComputerEquipment2022-03-3109208068ns10:Originalns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-03-3109208068ns10:Originalns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-04-012023-03-3109208068ns10:Originalns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-3109208068ns10:Originalns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-03-3109208068ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3109208068ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-3109208068ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-03-3109208068ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-03-31
REGISTERED NUMBER: 09208068 (England and Wales)












Unaudited Financial Statements

For The Year Ended 31 March 2023

for

Pro-Tech Insulation Ltd

Pro-Tech Insulation Ltd (Registered number: 09208068)






Contents of the Financial Statements
For The Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pro-Tech Insulation Ltd

Company Information
For The Year Ended 31 March 2023







DIRECTORS: P Goode
Mrs H Goode





REGISTERED OFFICE: 8 Gibson Close
Whiteley
Fareham
Hampshire
PO15 7HX





REGISTERED NUMBER: 09208068 (England and Wales)





ACCOUNTANTS: Butler & Co (Bishops Waltham) Limited
Chartered Accountants
Avalon House
Waltham Business Park
Brickyard Road, Swanmore
Southampton
Hampshire
SO32 2SA

Pro-Tech Insulation Ltd (Registered number: 09208068)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 63,163 92,337

CURRENT ASSETS
Stocks 650 650
Debtors 6 146,915 207,150
Cash at bank and in hand 26,696 11,729
174,261 219,529
CREDITORS
Amounts falling due within one year 7 93,118 95,416
NET CURRENT ASSETS 81,143 124,113
TOTAL ASSETS LESS CURRENT
LIABILITIES

144,306

216,450

CREDITORS
Amounts falling due after more than one
year

8

(84,053

)

(109,777

)

PROVISIONS FOR LIABILITIES (12,001 ) (17,546 )
NET ASSETS 48,252 89,127

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 48,242 89,117
SHAREHOLDERS' FUNDS 48,252 89,127

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.

Pro-Tech Insulation Ltd (Registered number: 09208068)

Balance Sheet - continued
31 March 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 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 17 November 2023 and were signed on its behalf by:





P Goode - Director


Pro-Tech Insulation Ltd (Registered number: 09208068)

Notes to the Financial Statements
For The Year Ended 31 March 2023

1. STATUTORY INFORMATION

Pro-Tech Insulation 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - Straight line over 4 years and Straight line over 2 years

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 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.

Pro-Tech Insulation Ltd (Registered number: 09208068)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery equipment vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 12,308 - 135,500 982 148,790
Additions - 950 - 1,925 2,875
At 31 March 2023 12,308 950 135,500 2,907 151,665
DEPRECIATION
At 1 April 2022 6,932 - 48,671 850 56,453
Charge for year 3,077 101 28,738 133 32,049
At 31 March 2023 10,009 101 77,409 983 88,502
NET BOOK VALUE
At 31 March 2023 2,299 849 58,091 1,924 63,163
At 31 March 2022 5,376 - 86,829 132 92,337

Pro-Tech Insulation Ltd (Registered number: 09208068)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022
and 31 March 2023 134,783
DEPRECIATION
At 1 April 2022 47,954
Charge for year 28,738
At 31 March 2023 76,692
NET BOOK VALUE
At 31 March 2023 58,091
At 31 March 2022 86,829

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 85,560 140,202
Other debtors 44,610 38,068
Directors' current accounts 10,786 23,917
VAT 5,472 4,484
Prepayments 487 479
146,915 207,150

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 17,392 23,866
Trade creditors 31,624 46,380
Tax 11,633 6,725
Other creditors 12,074 43
Accrued expenses 10,395 8,402
93,118 95,416

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 2-5 years 22,632 33,333
Hire purchase contracts 61,421 76,444
84,053 109,777

Pro-Tech Insulation Ltd (Registered number: 09208068)

Notes to the Financial Statements - continued
For The Year Ended 31 March 2023

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company made loan advances to related parties of £13,224 and received repayments of £26,355. At the balance sheet date the loan balances due from related parties were £10,786 (2022: £23,917).

During the year interest was charged on loans to related parties of £498. Interest was charged at an average annual rate of 2.00%.

Loans to related parties are repayable on demand.

10. RELATED PARTY DISCLOSURES

During the year loan advances of £25,177 were made to related parties and loan repayments of £20,975 were received from related parties. The balance due from related parties at the balance sheet date was £23,917. These loans are repayable on demand.