Proteq (Northern) Limited 03057772 false 2022-06-01 2023-05-31 2023-05-31 The principal activity of the company is Other recreational activities not elsewhere classified Digita Accounts Production Advanced 6.30.9574.0 true true true 03057772 2022-06-01 2023-05-31 03057772 2023-05-31 03057772 bus:OrdinaryShareClass1 2023-05-31 03057772 core:CurrentFinancialInstruments 2023-05-31 03057772 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 03057772 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 03057772 core:FurnitureFittingsToolsEquipment 2023-05-31 03057772 core:LandBuildings 2023-05-31 03057772 core:MotorVehicles 2023-05-31 03057772 bus:SmallEntities 2022-06-01 2023-05-31 03057772 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 03057772 bus:FullAccounts 2022-06-01 2023-05-31 03057772 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 03057772 bus:RegisteredOffice 2022-06-01 2023-05-31 03057772 bus:Director3 2022-06-01 2023-05-31 03057772 bus:Director4 2022-06-01 2023-05-31 03057772 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 03057772 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 03057772 core:FurnitureFittingsToolsEquipment 2022-06-01 2023-05-31 03057772 core:LandBuildings 2022-06-01 2023-05-31 03057772 core:MotorVehicles 2022-06-01 2023-05-31 03057772 core:PlantMachinery 2022-06-01 2023-05-31 03057772 1 2022-06-01 2023-05-31 03057772 countries:EnglandWales 2022-06-01 2023-05-31 03057772 2022-05-31 03057772 core:FurnitureFittingsToolsEquipment 2022-05-31 03057772 core:LandBuildings 2022-05-31 03057772 core:MotorVehicles 2022-05-31 03057772 2021-06-01 2022-05-31 03057772 2022-05-31 03057772 bus:OrdinaryShareClass1 2022-05-31 03057772 core:CurrentFinancialInstruments 2022-05-31 03057772 core:CurrentFinancialInstruments core:WithinOneYear 2022-05-31 03057772 core:Non-currentFinancialInstruments core:AfterOneYear 2022-05-31 03057772 core:FurnitureFittingsToolsEquipment 2022-05-31 03057772 core:LandBuildings 2022-05-31 03057772 core:MotorVehicles 2022-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03057772

Proteq (Northern) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2023

 

Proteq (Northern) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Proteq (Northern) Limited

Company Information

Directors

Mr T Marriner

Mr J A Bateman

Registered office

Pinnacle Works
Station Road
Epworth
Doncaster
South Yorkshire
DN9 1JU

 

Proteq (Northern) Limited

(Registration number: 03057772)
Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

95,530

62,078

Current assets

 

Stocks

1,500

1,500

Debtors

5

149,681

182,871

Cash at bank and in hand

 

231,865

71,755

 

383,046

256,126

Creditors: Amounts falling due within one year

6

(218,217)

(92,764)

Net current assets

 

164,829

163,362

Total assets less current liabilities

 

260,359

225,440

Creditors: Amounts falling due after more than one year

6

(12,674)

(8,431)

Provisions for liabilities

(23,253)

(6,907)

Net assets

 

224,432

210,102

Capital and reserves

 

Called up share capital

7

10,446

10,446

Retained earnings

213,986

199,656

Shareholders' funds

 

224,432

210,102

For the financial year ending 31 May 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 October 2023 and signed on its behalf by:
 

 

Proteq (Northern) Limited

(Registration number: 03057772)
Balance Sheet as at 31 May 2023

.........................................
Mr T Marriner
Director

.........................................
Mr J A Bateman
Director

 

Proteq (Northern) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 03057772.

The address of its registered office is:
Pinnacle Works
Station Road
Epworth
Doncaster
South Yorkshire
DN9 1JU

These financial statements were authorised for issue by the Board on 27 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

The financial statements cover the individual entity, Proteq (Northern) Limited.

Going concern

The financial statements have been prepared on a going concern basis.

Specifically in connection with the current economic climate, the directors have conisdered the impact of Covid-19 on the business and they are satisfied that the company has sufficient financial headroom to continue trading for at least the next twelve months. For this reason the financial statements have been preared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

 

Proteq (Northern) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Government grants

Government grants which become receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the entity with no future related costs, are recognised as income in the period in which they become receivable.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

20% Straight Line

Motor Vehicles

25% Straight Line

Land and buildings

1% Straight Line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

 

Proteq (Northern) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 10 (2022 - 10).

 

Proteq (Northern) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2022

12,850

229,526

175,904

418,280

Additions

-

11,226

62,298

73,524

Disposals

-

-

(103,845)

(103,845)

At 31 May 2023

12,850

240,752

134,357

387,959

Depreciation

At 1 June 2022

10,875

215,344

129,983

356,202

Charge for the year

20

5,620

30,684

36,324

Eliminated on disposal

-

-

(100,097)

(100,097)

At 31 May 2023

10,895

220,964

60,570

292,429

Carrying amount

At 31 May 2023

1,955

19,788

73,787

95,530

At 31 May 2022

1,975

14,182

45,921

62,078

5

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

122,724

119,068

Amounts owed by group companies

-

37,250

Prepayments

 

24,287

20,168

Other debtors

 

2,670

6,385

   

149,681

182,871

6

Creditors

Creditors: amounts falling due within one year

 

Proteq (Northern) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023

Note

2023
£

2022
£

Due within one year

 

Hire purchase

 

9,759

4,818

Trade creditors

 

13,863

12,893

Amounts owed to group undertakings and undertakings in which the company has a participating interest

72,505

-

Taxation and social security

 

49,158

12,137

Other creditors

 

43,032

33,464

Accruals and deferred income

 

29,900

29,452

 

218,217

92,764

Due after one year

 

Hire purchase

 

12,674

8,431


Creditors include net obligations under finance lease and hire purchase contracts which are secured of £22,433 (2022 - £13,249).

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

10,446

10,446

10,446

10,446

         

8

Parent and ultimate parent undertaking

The company has taken advantage of exemption, under the terms of FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' not to disclose related party transactions with its parent company Proteq (Northern) Holdings Limited.

 The Company's immediate parent is Proteq (Northern) Holdings Limited, incorporated in England and Wales.

 The ultimate controlling party is Jamie Bateman & Tom Marriner.