L. G. PROUT & SONS LIMITED

Company Registration Number:
00754864 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2024

Period of accounts

Start date: 01 April 2023

End date: 31 March 2024

L. G. PROUT & SONS LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Balance sheet
Notes

L. G. PROUT & SONS LIMITED

Balance sheet

As at 31 March 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 287,732 313,425
Investments: 4 100 100
Total fixed assets: 287,832 313,525
Current assets
Stocks: 85,397 125,061
Debtors:   287,292 353,697
Cash at bank and in hand: 403 290
Total current assets: 373,092 479,048
Creditors: amounts falling due within one year: 5 (538,572) (518,608)
Net current assets (liabilities): (165,480) (39,560)
Total assets less current liabilities: 122,352 273,965
Creditors: amounts falling due after more than one year: 6 (22,440) (97,906)
Provision for liabilities: (30,366) (31,836)
Total net assets (liabilities): 69,546 144,223
Capital and reserves
Called up share capital: 4,100 4,100
Profit and loss account: 65,446 140,123
Shareholders funds: 69,546 144,223

The notes form part of these financial statements

L. G. PROUT & SONS LIMITED

Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 07 June 2024
and signed on behalf of the board by:

Name: N J Prout
Status: Director

The notes form part of these financial statements

L. G. PROUT & SONS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and value added tax.

Tangible fixed assets and depreciation policy

Freehold property nil depreciation. Plant and machinery and Fixtures and fittings 15 % on written down value. Motor vehicles 25% on written down value.

L. G. PROUT & SONS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

2. Employees

2024 2023
Average number of employees during the period 18 19

L. G. PROUT & SONS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Tangible Assets

Total
Cost £
At 01 April 2023 1,166,399
Additions 6,599
At 31 March 2024 1,172,998
Depreciation
At 01 April 2023 852,974
Charge for year 32,292
At 31 March 2024 885,266
Net book value
At 31 March 2024 287,732
At 31 March 2023 313,425

L. G. PROUT & SONS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Fixed investments

Fixed investments represent the shareholding in a subsidiary company Gemmell & Prout Marine Limited.

L. G. PROUT & SONS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Creditors: amounts falling due within one year note

2024 Bank loans and overdrafts £ 265028, Hire Purchase contracts £ 66935, Trade creditors £ 109071, Amounts owed to group Undertakings £ 68679, Taxation and social security £ 23859, Other creditors £ 5000. 2023 Bank loans and overdrafts £ 304837, Hire purchase contracts £ 24908, Trade creditors £ 171124, Taxation and social security £ 12967, Other creditors £ 4772.

L. G. PROUT & SONS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

6. Creditors: amounts falling due after more than one year note

2024 Bank loans £ 22440. 2023 Bank loans £ 32389, Hire purchase contracts £ 65517.

L. G. PROUT & SONS LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

7. Loans to directors

Name of director receiving advance or credit: I G Prout
Description of the loan: Advance of £ 5000
£
Balance at 01 April 2023 5,000
Balance at 31 March 2024 5,000
Name of director receiving advance or credit: N J Prout
Description of the loan: Advance £ 4081
£
Balance at 01 April 2023 4,081
Balance at 31 March 2024 4,081
Name of director receiving advance or credit: A M Prout
Description of the loan: Advance £ 4405
£
Balance at 01 April 2023 4,405
Balance at 31 March 2024 4,405