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Registration number: 05441658

Protect and Invest Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Protect and Invest Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 6

 

Protect and Invest Limited

(Registration number: 05441658)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

18,066

2,757

Other financial assets

6

82,427

75,852

 

100,493

78,609

Current assets

 

Debtors

7

49,039

67,017

Cash at bank and in hand

 

186,331

135,963

 

235,370

202,980

Creditors: Amounts falling due within one year

8

(164,619)

(155,606)

Net current assets

 

70,751

47,374

Total assets less current liabilities

 

171,244

125,983

Provisions for liabilities

(9,831)

(4,880)

Net assets

 

161,413

121,103

Capital and reserves

 

Called up share capital

10,000

10,000

Other reserves

16,794

12,575

Retained earnings

134,619

98,528

Shareholders' funds

 

161,413

121,103

 

Protect and Invest Limited

(Registration number: 05441658)
Balance Sheet as at 31 July 2024

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 September 2024 and signed on its behalf by:
 

.........................................
M S Czapalski
Director

 

Protect and Invest Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
3 Mill Court
Mill Lane
Newbury
Berkshire
RG14 5RE
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors believe the company has adequate resources to continue in operational existence such that they believe the continued use of the going concern basis to be appropriate.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of financial services and advice to clients. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Protect and Invest Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line basis

Fixtures and fittings

25% straight line basis

Plant and machinery

25% straight line basis

Motor vehicles

15% straight line basis

Investments

Investments in shares are included at fair value.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for financial services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Protect and Invest Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Taxation

2024

2023

£

£

Corporation tax

13,154

8,116

Deferred tax

4,951

1,609

18,105

9,725

4

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

6,584

230

14,165

-

20,979

Additions

2,577

-

828

14,995

18,400

Disposals

(1,002)

-

(6,410)

-

(7,412)

At 31 July 2024

8,159

230

8,583

14,995

31,967

Depreciation

At 1 August 2023

6,216

230

11,776

-

18,222

Charge for the year

504

-

1,087

1,500

3,091

Eliminated on disposal

(1,002)

-

(6,410)

-

(7,412)

At 31 July 2024

5,718

230

6,453

1,500

13,901

Carrying amount

At 31 July 2024

2,441

-

2,130

13,495

18,066

At 31 July 2023

368

-

2,389

-

2,757

 

Protect and Invest Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

6

Investments held as fixed assets

2024
£

2023
£

Non-current financial assets

Financial assets at cost less impairment

82,427

75,852

7

Debtors

Current

2024
£

2023
£

Trade debtors

1,150

4,090

Prepayments

7,122

9,347

Other debtors

40,767

53,580

 

49,039

67,017

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

245

14,025

Amounts owed to related parties

9

122,363

114,912

Taxation and social security

 

15,024

9,586

Other creditors

 

26,987

17,083

 

164,619

155,606

9

Related party transactions

Summary of transactions with other related parties

M C Financial Services Limited (a related company by common control) charged commissions of £327,814 (2023: £340,438) from Protect and Invest Limited. At the balance sheet date the amount due to M C Financial Services Limited was £122,363 (2023: £114,912).

Mortimer Financial Limited (a related company by common control) charged commissions of £319,994 (2023: £285,380) from Protect and Invest Limited. At the balance sheet date the amount due to Mortimer Financial Limited was £24,987 (2023: £14,665).

MSC Consulting Limited (a related company by common control) charged commissions of £72,851 (2023: £61,960) from Protect and Invest Limited. At the balance sheet date the amount due to MSC Consulting Limited was £nil (2023: £nil).