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REGISTERED NUMBER: 07231689 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 July 2024

for

Pro-Tech Auto Specialists Ltd

Pro-Tech Auto Specialists Ltd (Registered number: 07231689)

Contents of the Financial Statements
for the Year Ended 31 July 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pro-Tech Auto Specialists Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTORS: P Boghurst
M Bisset





REGISTERED OFFICE: Unit 10 Basingstoke Business Centre
Winchester Road
Basingstoke
Hampshire
RG22 4AU





REGISTERED NUMBER: 07231689 (England and Wales)





ACCOUNTANTS: Lane Monnington Welton
Chartered Accountants
Riverside View
Basing Road
Old Basing
Basingstoke
Hampshire
RG24 7AL

Pro-Tech Auto Specialists Ltd (Registered number: 07231689)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,772 396

CURRENT ASSETS
Stocks 1,400 1,400
Debtors 5 13,553 6,654
Cash at bank and in hand 53,498 56,997
68,451 65,051
CREDITORS
Amounts falling due within one year 6 51,881 54,614
NET CURRENT ASSETS 16,570 10,437
TOTAL ASSETS LESS CURRENT
LIABILITIES

20,342

10,833

PROVISIONS FOR LIABILITIES 8 826 78
NET ASSETS 19,516 10,755

CAPITAL AND RESERVES
Called up share capital 9 30 30
Retained earnings 19,486 10,725
SHAREHOLDERS' FUNDS 19,516 10,755

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

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

Pro-Tech Auto Specialists Ltd (Registered number: 07231689)

Balance Sheet - continued
31 July 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 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 30 September 2024 and were signed on its behalf by:





P Boghurst - Director


Pro-Tech Auto Specialists Ltd (Registered number: 07231689)

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


1. STATUTORY INFORMATION

Pro-Tech Auto Specialists Ltd 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 sales of goods and services net of VAT and trade discounts. Turnover is recognised when the risks and rewards of ownership of goods have been transferred to the customer or where the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. The risks and rewards of ownership of goods are deemed to have been transferred when the goods are shipped to, or are picked up by, the customer. Where a service contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

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 cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete or sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than the cost.

Financial instruments
Debtors and creditors payable/receivable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price, including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.


Pro-Tech Auto Specialists Ltd (Registered number: 07231689)

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


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 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, adjusted for indexation where applicable.

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.

Impairment
Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Pro-Tech Auto Specialists Ltd (Registered number: 07231689)

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


4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2023 5,311 4,000 405 9,716
Additions 3,749 - - 3,749
Disposals - (1,500 ) - (1,500 )
At 31 July 2024 9,060 2,500 405 11,965
DEPRECIATION
At 1 August 2023 5,311 3,604 405 9,320
Charge for year 227 83 - 310
Eliminated on disposal - (1,437 ) - (1,437 )
At 31 July 2024 5,538 2,250 405 8,193
NET BOOK VALUE
At 31 July 2024 3,522 250 - 3,772
At 31 July 2023 - 396 - 396

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 4,930 2,127
Other debtors 8,623 4,527
13,553 6,654

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 7,048 20,858
Trade creditors 12,682 4,791
Taxation and social security 25,307 21,333
Other creditors 6,844 7,632
51,881 54,614

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.7.24 31.7.23
£    £   
Within one year 17,750 17,750
Between one and five years 71,000 71,000
In more than five years 17,750 35,500
106,500 124,250

Pro-Tech Auto Specialists Ltd (Registered number: 07231689)

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


7. LEASING AGREEMENTS - continued

There is a rent deed held against the company securing any monies due from the company.

8. PROVISIONS FOR LIABILITIES
31.7.24 31.7.23
£    £   
Deferred tax 826 78

Deferred
tax
£   
Balance at 1 August 2023 78
Accelerated capital allowances 748
Balance at 31 July 2024 826

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
30 Ordinary £1 30 30