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Registered Number: 09021962
England and Wales

 

 

 

PROTECH AUTOMATION LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 June 2022

End date: 31 May 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 13,427    17,611 
13,427    17,611 
Current assets      
Debtors 5 47,743    74,323 
Cash at bank and in hand 17,228    15,143 
64,971    89,466 
Creditors: amount falling due within one year 6 (35,085)   (48,066)
Net current assets 29,886    41,400 
 
Total assets less current liabilities 43,313    59,011 
Creditors: amount falling due after more than one year 7 (12,402)   (14,856)
Net assets 30,911    44,155 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 30,811    44,055 
Shareholder's funds 30,911    44,155 
 


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

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 14 February 2024 and were signed by:


-------------------------------
James William Ward
Director
1
General Information
Protech Automation Ltd is a private company, limited by shares, registered in England and Wales, registration number 09021962, registration address 10 Tyne Road, Oakham, Rutland, LE15 6SJ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Straight Line
Motor Vehicles 20% Straight Line
2.

Average number of employees

Average number of employees during the year was 1 (2022 : 1).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 June 2022 42,000    42,000 
Additions  
Disposals  
At 31 May 2023 42,000    42,000 
Amortisation
At 01 June 2022 42,000    42,000 
Charge for year  
On disposals  
At 31 May 2023 42,000    42,000 
Net book values
At 31 May 2023  
At 31 May 2022  


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 June 2022 2,855    21,474    24,329 
Additions 457      457 
Disposals    
At 31 May 2023 3,312    21,474    24,786 
Depreciation
At 01 June 2022 2,423    4,295    6,718 
Charge for year 346    4,295    4,641 
On disposals    
At 31 May 2023 2,769    8,590    11,359 
Net book values
Closing balance as at 31 May 2023 543    12,884    13,427 
Opening balance as at 01 June 2022 432    17,179    17,611 


5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 10,102    44,323 
Other Debtors 37,641    30,000 
47,743    74,323 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 264    8,359 
Bank Loans & Overdrafts 22,037    27,546 
Taxation and Social Security 8,979    8,749 
Other Creditors 3,805    3,412 
35,085    48,066 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Obligations under HP/Financial Leases 12,402    14,856 
12,402    14,856 

2