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REGISTERED NUMBER: 07662470 (England and Wales)















PROFESSIONAL TECHNICAL CONSULTING
LIMITED
TRADING AS
PROTEC SERVICES

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






PROFESSIONAL TECHNICAL CONSULTING
LIMITED (REGISTERED NUMBER: 07662470)
TRADING AS PROTEC SERVICES






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 8


PROFESSIONAL TECHNICAL CONSULTING
LIMITED
TRADING AS PROTEC SERVICES

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: I M Brown
Mrs S A Brown



REGISTERED OFFICE: 4 Westmour Units
Warwick Road
Fairfield Industrial Estate
Louth
Lincolnshire
LN11 0YB



REGISTERED NUMBER: 07662470 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
Oxley House
Lincoln Way
Louth
Lincolnshire
LN11 0LS



BANKERS: Lloyds Bank plc
24 Mercer Row
Louth
Lincolnshire
LN11 9JH

PROFESSIONAL TECHNICAL CONSULTING
LIMITED (REGISTERED NUMBER: 07662470)
TRADING AS PROTEC SERVICES

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 201,005 195,455
201,005 195,455

CURRENT ASSETS
Stocks 5,544 38,416
Debtors 6 180,167 180,511
Cash at bank and in hand 263,657 147,193
449,368 366,120
CREDITORS
Amounts falling due within one year 7 154,731 118,172
NET CURRENT ASSETS 294,637 247,948
TOTAL ASSETS LESS CURRENT LIABILITIES 495,642 443,403

CREDITORS
Amounts falling due after more than one year 8 (92,075 ) (106,344 )

PROVISIONS FOR LIABILITIES (7,253 ) (6,064 )
NET ASSETS 396,314 330,995

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 396,214 330,895
SHAREHOLDERS' FUNDS 396,314 330,995

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

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

PROFESSIONAL TECHNICAL CONSULTING
LIMITED (REGISTERED NUMBER: 07662470)
TRADING AS PROTEC SERVICES

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 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 and authorised for issue by the Board of Directors and authorised for issue on 23 August 2024 and were signed on its behalf by:





Mrs S A Brown - Director


PROFESSIONAL TECHNICAL CONSULTING
LIMITED (REGISTERED NUMBER: 07662470)
TRADING AS PROTEC SERVICES

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Professional Technical Consulting 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 2012 has been fully amortised.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property - 10% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on reducing balance
Long leasehold - 20% on cost

Where freehold property is maintained to such a standard that the residual value is not less than its cost, no depreciation is charged as it is not material.

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

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. 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 the income statement.

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. Accounts 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.

PROFESSIONAL TECHNICAL CONSULTING
LIMITED (REGISTERED NUMBER: 07662470)
TRADING AS PROTEC SERVICES

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

2. ACCOUNTING POLICIES - continued

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Government grants
Grants are recognised as income in the period in which they become receivable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 12 ) .

PROFESSIONAL TECHNICAL CONSULTING
LIMITED (REGISTERED NUMBER: 07662470)
TRADING AS PROTEC SERVICES

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023 25,000
Disposals (25,000 )
At 31 December 2023 -
AMORTISATION
At 1 January 2023 25,000
Eliminated on disposal (25,000 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Freehold Long Plant and
property leasehold machinery
£    £    £   
COST
At 1 January 2023 163,543 - 22,127
Additions - 8,621 6,012
At 31 December 2023 163,543 8,621 28,139
DEPRECIATION
At 1 January 2023 - - 14,060
Charge for year - 165 3,213
At 31 December 2023 - 165 17,273
NET BOOK VALUE
At 31 December 2023 163,543 8,456 10,866
At 31 December 2022 163,543 - 8,067

PROFESSIONAL TECHNICAL CONSULTING
LIMITED (REGISTERED NUMBER: 07662470)
TRADING AS PROTEC SERVICES

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

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2023 21,194 36,495 243,359
Additions 1,253 - 15,886
At 31 December 2023 22,447 36,495 259,245
DEPRECIATION
At 1 January 2023 13,615 20,229 47,904
Charge for year 2,891 4,067 10,336
At 31 December 2023 16,506 24,296 58,240
NET BOOK VALUE
At 31 December 2023 5,941 12,199 201,005
At 31 December 2022 7,579 16,266 195,455

Included in cost of land and buildings is freehold land of £163,543 (2022 - £163,543) which is not depreciated.. This was purchased with a secured bank loan in the year and consisted of 4 Westmour Units at Warwick Road, Fairfield Industrial Estate, Louth Lincolnshire LN11 0YB.

The net book value of tangible fixed assets includes £NIL (2022 - £ 11,622 ) in respect of assets held under hire purchase contracts.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 178,529 179,511
Other debtors 1,638 1,000
180,167 180,511

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 14,010 13,747
Hire purchase contracts - 2,333
Trade creditors 37,896 22,601
Taxation and social security 84,829 70,221
Other creditors 17,996 9,270
154,731 118,172

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 92,075 106,344

PROFESSIONAL TECHNICAL CONSULTING
LIMITED (REGISTERED NUMBER: 07662470)
TRADING AS PROTEC SERVICES

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 51,847 59,292

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 106,085 120,091
Hire purchase contracts - 2,333
106,085 122,424

The bank loan is secured by way of fixed and floating charges over all the assets of the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
I M Brown and Mrs S A Brown
Balance outstanding at start of year (7,205 ) (8,512 )
Amounts advanced 44,595 54,667
Amounts repaid (53,322 ) (53,360 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (15,932 ) (7,205 )

The directors loan account is unsecured and repayable on demand. Interest has been charged at the official rate of 2.25% on the overdrawn director's loan account.

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £50,000 (2022 - £50,000) were paid to the directors.