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REGISTERED NUMBER: 05581280 (England and Wales)




































FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2023

FOR

PROTECH ENGINEERING (FAREHAM) LIMITED

PROTECH ENGINEERING (FAREHAM) LIMITED (REGISTERED NUMBER: 05581280)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROTECH ENGINEERING (FAREHAM) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST OCTOBER 2023







DIRECTORS: D J Butcher
A Brockett





SECRETARY: D J Butcher





REGISTERED OFFICE: Venture House
The Tanneries
East Street
Titchfield
Hampshire
PO14 4AR





REGISTERED NUMBER: 05581280 (England and Wales)





ACCOUNTANTS: Compass Accountants Limited
Chartered Accountants
Venture House
The Tanneries
East Street
Titchfield
Hampshire
PO14 4AR

PROTECH ENGINEERING (FAREHAM) LIMITED (REGISTERED NUMBER: 05581280)

BALANCE SHEET
31ST OCTOBER 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 19,203
Tangible assets 5 8,008 7,993
8,008 27,196

CURRENT ASSETS
Stocks - 27,776
Debtors 6 19,797 53,101
Cash at bank and in hand 25,523 310,201
45,320 391,078
CREDITORS
Amounts falling due within one year 7 31,106 88,976
NET CURRENT ASSETS 14,214 302,102
TOTAL ASSETS LESS CURRENT LIABILITIES 22,222 329,298

PROVISIONS FOR LIABILITIES 1,522 7,377
NET ASSETS 20,700 321,921

CAPITAL AND RESERVES
Called up share capital 8 4 4
Retained earnings 20,696 321,917
SHAREHOLDERS' FUNDS 20,700 321,921

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 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.

PROTECH ENGINEERING (FAREHAM) LIMITED (REGISTERED NUMBER: 05581280)

BALANCE SHEET - continued
31ST OCTOBER 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 12th February 2024 and were signed on its behalf by:




A Brockett - Director



D J Butcher - Director


PROTECH ENGINEERING (FAREHAM) LIMITED (REGISTERED NUMBER: 05581280)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023


1. STATUTORY INFORMATION

Protech Engineering (Fareham) 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 presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

PROTECH ENGINEERING (FAREHAM) LIMITED (REGISTERED NUMBER: 05581280)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023


2. ACCOUNTING POLICIES - continued

Basic financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

The company's financial assets and liabilities consist of cash and cash equivalents, short term investments, trade and other debtors, trade and other creditor, and accrued expenses. The fair value of these items approximates their carrying value due to their short term value. Unless otherwise noted, the company is not exposed to significant interest, foreign exchange or credit risks arising from these instruments.

3. EMPLOYEES AND DIRECTORS

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1st November 2022 128,024 18,249 146,273
Disposals (128,024 ) - (128,024 )
At 31st October 2023 - 18,249 18,249
AMORTISATION
At 1st November 2022 108,821 18,249 127,070
Charge for year 6,041 - 6,041
Eliminated on disposal (114,862 ) - (114,862 )
At 31st October 2023 - 18,249 18,249
NET BOOK VALUE
At 31st October 2023 - - -
At 31st October 2022 19,203 - 19,203

PROTECH ENGINEERING (FAREHAM) LIMITED (REGISTERED NUMBER: 05581280)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023


5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1st November 2022 6,830 9,356 16,186
Additions 2,655 13,250 15,905
Disposals - (22,606 ) (22,606 )
At 31st October 2023 9,485 - 9,485
DEPRECIATION
At 1st November 2022 1,120 7,073 8,193
Charge for year 357 - 357
Eliminated on disposal - (7,073 ) (7,073 )
At 31st October 2023 1,477 - 1,477
NET BOOK VALUE
At 31st October 2023 8,008 - 8,008
At 31st October 2022 5,710 2,283 7,993

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 18,444 51,095
Other debtors 1,353 2,006
19,797 53,101

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade creditors - 20,107
Taxation and social security 22,968 64,822
Other creditors 8,138 4,047
31,106 88,976

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
2 Ordinary £1 2 2
2 Ordinary A £1 2 2
4 4

PROTECH ENGINEERING (FAREHAM) LIMITED (REGISTERED NUMBER: 05581280)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st October 2023 and 31st October 2022:

31.10.23 31.10.22
£    £   
D J Butcher
Balance outstanding at start of year (147 ) (769 )
Amounts advanced 1,790 1,102
Amounts repaid (480 ) (480 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,163 (147 )