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Registered Number: 06617809
England and Wales

 

 

 

PROTECHNIC INVESTMENTS LIMITED


Filleted Unaudited Financial Statements
 


Period of accounts

Start date: 01 November 2022

End date: 31 October 2023
Directors Keith Judson
Samantha Judson
Registered Number 06617809
Registered Office 66 Gloucester Road
Bishopston
Bristol
BS7 8BH
Accountants Bond & Co Chartered Certified Accountants
66 Gloucester Road
Bishopston
Bristol
BS7 8BH
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 October 2023.
Principal activities
Principal activity of the company during the financial year was that of consultancy services and property management.
Directors
The directors who served the company throughout the year were as follows:
Keith Judson
Samantha Judson
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Keith Judson
Director

Date approved: 08 March 2024
2
Report to the directors on the preparation of the unaudited statutory accounts of Protechnic Investments Limited for the year ended 31 October 2023. In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Protechnic Investments Limited for the year ended 31 October 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com/. This report is made solely to the Board of Directors of Protechnic Investments Limited, as a body, in accordance with the terms of our engagement letter dated 06 January 2020. Our work has been undertaken solely to prepare for your approval the accounts of Protechnic Investments Limited and state those matters that we have agreed to state to the Board of Directors of Protechnic Investments Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Protechnic Investments Limited and its Board of Directors as a body for our work or for this report. It is your duty to ensure that Protechnic Investments Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Protechnic Investments Limited. You consider that Protechnic Investments Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the accounts of Protechnic Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts 31 October 2023.


Bond & Co Chartered Certified Accountants
66 Gloucester Road
Bishopston
Bristol
BS7 8BH
08 March 2024
3
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 1,750,000    1,750,000 
1,750,000    1,750,000 
Current assets      
Debtors 4 3,469   
Cash at bank and in hand 26,368    4,854 
29,837    4,854 
Creditors: amount falling due within one year 5 (157,772)   (141,529)
Net current liabilities (127,935)   (136,675)
 
Total assets less current liabilities 1,622,065    1,613,325 
Creditors: amount falling due after more than one year 6 (388,072)   (420,775)
Provisions for liabilities 7 (195,619)   (195,619)
Net assets 1,038,374    996,931 
 

Capital and reserves
     
Called up share capital 10,000    10,000 
Reserves 8 833,955    833,955 
Profit and loss account 194,419    152,976 
Shareholder's funds 1,038,374    996,931 
 


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

Directors' 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 directors acknowledge 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. 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 board of directors on 08 March 2024 and were signed on its behalf by:


-------------------------------
Keith Judson
Director
4
General Information
Protechnic Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 06617809, registration address 66 Gloucester Road, Bishopston, Bristol, BS7 8BH.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
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:
Not depreciated.
Investment properties
Investment properties are included in the statement of financial position at their open market
value at the statement of financial position date. The resulting aggregate surplus or deficit is
transferred to a non-distributable reserve.
In the opinion of the directors compliance with the standard is necessary for the statement of
financial position to give a true and fair view. The fair value is determined annually by the directors, on an open market value for existing use basis.
Deferred taxation is provided on these gains at the rate expected to apply when the properties are sold.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Total
  £   £
At 01 November 2022 1,750,000    1,750,000 
Additions  
Disposals  
At 31 October 2023 1,750,000    1,750,000 
Depreciation
At 01 November 2022  
Charge for year  
On disposals  
At 31 October 2023  
Net book values
Closing balance as at 31 October 2023 1,750,000    1,750,000 
Opening balance as at 01 November 2022 1,750,000    1,750,000 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 3,469   
3,469   

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 4,318    720 
Bank Loans & Overdrafts (Secured) 38,000    38,000 
Corporation Tax 18,960    27,240 
PAYE & Social Security   134 
Accrued Expenses 1,050    950 
Other Creditors 26,250   
Directors' Current Accounts 64,603    65,072 
VAT 4,591    9,413 
157,772    141,529 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts (Secured) 388,072    420,775 
388,072    420,775 

7.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 195,619    195,619 
195,619    195,619 

8.

Reserves

2023
£
  2022
£
Non-distributable Reserve 833,955    833,955 
833,955    833,955 

5