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REGISTERED NUMBER: 05203206 (England and Wales)

















Financial Statements

For The Year Ended 31 December 2023

for

Prolicht Uk Limited

Prolicht Uk Limited (Registered number: 05203206)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Prolicht Uk Limited

Company Information
For The Year Ended 31 December 2023







DIRECTORS: M A Willenbrock
T Smith





REGISTERED OFFICE: 95 Greenways Business Centre
Harlow Business Park
Harlow
Essex
CM19 5QE





REGISTERED NUMBER: 05203206 (England and Wales)





AUDITORS: Giess Wallis Crisp LLP
Registered Auditor
10-12 Mulberry Green
Old Harlow
Essex
CM17 0ET

Prolicht Uk Limited (Registered number: 05203206)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 11,813 3,648

CURRENT ASSETS
Stocks 434,728 409,366
Debtors 6 821,478 560,891
Cash at bank and in hand 126,667 12,576
1,382,873 982,833
CREDITORS
Amounts falling due within one year 7 1,233,279 807,330
NET CURRENT ASSETS 149,594 175,503
TOTAL ASSETS LESS CURRENT
LIABILITIES

161,407

179,151

PROVISIONS FOR LIABILITIES 8 2,470 -
NET ASSETS 158,937 179,151

CAPITAL AND RESERVES
Called up share capital 9 48,004 48,004
Retained earnings 110,933 131,147
SHAREHOLDERS' FUNDS 158,937 179,151

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 10 July 2024 and were signed on its behalf by:





M A Willenbrock - Director


Prolicht Uk Limited (Registered number: 05203206)

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


1. STATUTORY INFORMATION

Prolicht Uk 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. 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities.

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

The nature of the income is that of producing, delivering, installing and maintaining signs and signboards for retailers and repairers. The income is realised once the products have been delivered to the desired destination (delivery only) or when the service has been carried out completely (installation only or plus delivery).

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% straight line basis

Recognition and impairment of tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation and any impairment losses.

The entity reviews the carrying value's of its tangible fixed assets at each reporting date, to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the estimated recoverable value of the asset is used to determine the extent of the impairment loss (if any).

Prolicht Uk Limited (Registered number: 05203206)

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


3. ACCOUNTING POLICIES - continued

Stocks
Stock is valued at the lower of cost and estimated selling price less cost to sell, after making due allowance for obsolete and slow moving items.

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 in the company's statement of financial position 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, when 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.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Prolicht Uk Limited (Registered number: 05203206)

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


3. ACCOUNTING POLICIES - continued

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss In finance costs or finance income as appropriate unless hedge accounting is applied and the hedge is a cash flow hedge.

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value though profit or toss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Prolicht Uk Limited (Registered number: 05203206)

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


3. ACCOUNTING POLICIES - continued

Work in progress
WIP is accounted for by identifying projects where the sales to costs ratios are not in line, or where there are just costs and no sales. The costs identified have a GP of 30% applied to them to arrive at the WIP figure. In certain jobs it is possible that costs include material which is sold without a markup. These costs are added to the WIP value without an application of a GP of 30%, they are added at purchase value.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 14,074 56,295 28,461 98,830
Additions 10,000 - 3,329 13,329
At 31 December 2023 24,074 56,295 31,790 112,159
DEPRECIATION
At 1 January 2023 13,549 55,535 26,098 95,182
Charge for year 2,632 191 2,341 5,164
At 31 December 2023 16,181 55,726 28,439 100,346
NET BOOK VALUE
At 31 December 2023 7,893 569 3,351 11,813
At 31 December 2022 525 760 2,363 3,648

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 796,582 545,928
Other debtors 24,896 14,963
821,478 560,891

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 256,311 258,803
Taxation and social security 42,827 122,013
Other creditors 934,141 426,514
1,233,279 807,330

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 2,470 -

Prolicht Uk Limited (Registered number: 05203206)

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


8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Charge to Statement of Income and Retained Earnings during year 2,470
Balance at 31 December 2023 2,470

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
48,000 Ordinary "A" Shares £1 48,000 48,000
4 Ordinary "B" Shares £1 4 4
48,004 48,004

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Laurence Miles FCA (Senior Statutory Auditor)
for and on behalf of Giess Wallis Crisp LLP

11. ULTIMATE PARENT COMPANY

CoBras GmbH (incorporated in Germany) is regarded by the directors as being the company's ultimate parent company. Their registered office address is Schinkelstr. 4, 31137 Hildesheim, Germany.

The group in which the results of the company are consolidated is that headed by CoBras GmbH. The consolidated financial statements are available to the public and may be obtained from the company directly.