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REGISTERED NUMBER: 02345525 (England and Wales)















PROSEP FILTER SYSTEMS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 APRIL 2024






PROSEP FILTER SYSTEMS LTD (REGISTERED NUMBER: 02345525)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROSEP FILTER SYSTEMS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: S F Parker
Mrs J H Parker





SECRETARY: Mrs J H Parker





REGISTERED OFFICE: Unit G19 River Bank Way
Lowfields Business Park
Elland
West Yorkshire
HX5 9DN





REGISTERED NUMBER: 02345525 (England and Wales)





ACCOUNTANTS: STEAD ROBINSON
Dipford House, Queens Square
Huddersfield Road
Honley
Holmfirth
HD9 6QZ

PROSEP FILTER SYSTEMS LTD (REGISTERED NUMBER: 02345525)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 291,181 299,721

CURRENT ASSETS
Stocks 128,929 133,246
Debtors 5 171,534 186,635
Cash at bank and in hand 166,740 192,633
467,203 512,514
CREDITORS
Amounts falling due within one year 6 290,337 305,337
NET CURRENT ASSETS 176,866 207,177
TOTAL ASSETS LESS CURRENT
LIABILITIES

468,047

506,898

CREDITORS
Amounts falling due after more than one year 7 21,531 31,483
NET ASSETS 446,516 475,415

CAPITAL AND RESERVES
Called up share capital 1,050 1,000
Retained earnings 445,466 474,415
SHAREHOLDERS' FUNDS 446,516 475,415

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

PROSEP FILTER SYSTEMS LTD (REGISTERED NUMBER: 02345525)

BALANCE SHEET - continued
30 APRIL 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 20 November 2024 and were signed on its behalf by:





S F Parker - Director


PROSEP FILTER SYSTEMS LTD (REGISTERED NUMBER: 02345525)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Prosep Filter Systems 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc - 33% on cost, 20% on cost and 15% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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 11 (2023 - 12 ) .

PROSEP FILTER SYSTEMS LTD (REGISTERED NUMBER: 02345525)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 256,547 104,693 36,301 13,466 411,007
Additions - 148 - - 148
At 30 April 2024 256,547 104,841 36,301 13,466 411,155
DEPRECIATION
At 1 May 2023 - 64,059 35,132 12,095 111,286
Charge for year - 8,057 175 456 8,688
At 30 April 2024 - 72,116 35,307 12,551 119,974
NET BOOK VALUE
At 30 April 2024 256,547 32,725 994 915 291,181
At 30 April 2023 256,547 40,634 1,169 1,371 299,721

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 169,038 178,641
Other debtors 2,496 7,994
171,534 186,635

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 195,010 217,894
Taxation and social security 42,322 47,887
Other creditors 53,005 39,556
290,337 305,337

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 21,531 31,483