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REGISTERED NUMBER: 03623936 (England and Wales)












FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

PROLAG THERMAL LIMITED

PROLAG THERMAL LIMITED (REGISTERED NUMBER: 03623936)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROLAG THERMAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: P Frost
G Beglan





SECRETARY: P Frost





REGISTERED OFFICE: Unit 8 International Business Park
Charfleets Road
Charfleets Industrial Estate
Canvey Island
Essex
SS8 0SG





REGISTERED NUMBER: 03623936 (England and Wales)





ACCOUNTANTS: Segrave & Partners LLP
Chartered Accountants
Turnpike House
1208/1210 London Road
Leigh on Sea
Essex
SS9 2UA

PROLAG THERMAL LIMITED (REGISTERED NUMBER: 03623936)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 138,854 141,793

CURRENT ASSETS
Debtors 5 845,190 787,516
Cash at bank 40,737 -
885,927 787,516
CREDITORS
Amounts falling due within one year 6 513,885 409,193
NET CURRENT ASSETS 372,042 378,323
TOTAL ASSETS LESS CURRENT
LIABILITIES

510,896

520,116

CREDITORS
Amounts falling due after more than one
year

7

20,822

29,995
NET ASSETS 490,074 490,121

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 10 489,974 490,021
SHAREHOLDERS' FUNDS 490,074 490,121

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

PROLAG THERMAL LIMITED (REGISTERED NUMBER: 03623936)

BALANCE SHEET - continued
31 MARCH 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2024 and were signed on its behalf by:




P Frost - Director



G Beglan - Director


PROLAG THERMAL LIMITED (REGISTERED NUMBER: 03623936)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Prolag Thermal 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.

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 represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Office equipment - 25% on cost

No depreciation is provided is respect of the Freehold Property as in the opinion of the directors the Property is regularly maintained to a high standard and is unlikely to fall in value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 14 ) .

PROLAG THERMAL LIMITED (REGISTERED NUMBER: 03623936)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Office
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 134,651 535 5,654 29,697 170,537
Additions - - 180 815 995
At 31 March 2024 134,651 535 5,834 30,512 171,532
DEPRECIATION
At 1 April 2023 - 535 4,858 23,351 28,744
Charge for year - - 721 3,213 3,934
At 31 March 2024 - 535 5,579 26,564 32,678
NET BOOK VALUE
At 31 March 2024 134,651 - 255 3,948 138,854
At 31 March 2023 134,651 - 796 6,346 141,793

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 30,026 216,565
Other debtors 29,057 8,826
Long term contracts 753,426 524,410
VAT 32,681 37,715
845,190 787,516

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 37,814
Trade creditors 292,669 310,669
Tax 18,655 6,914
Social security and other taxes 10,782 16,445
Other creditors 118,779 37,351
Directors' current accounts 63,000 -
513,885 409,193

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 20,822 29,995

PROLAG THERMAL LIMITED (REGISTERED NUMBER: 03623936)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 30,822 39,995

The bank loan is a Bounce Back Loan which was drawn down in March 2021 by the company. The loan is part of the Bounce Back Loan Scheme, and is therefore backed by a UK Government guarantee for the full amount outstanding.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Retained
earnings
£   

At 1 April 2023 490,020
Profit for the year 62,954
Dividends (63,000 )
At 31 March 2024 489,974