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Company Registration No. 8310730 (England and Wales)
PRO-TECH AUTOMOTIVE LTD unaudited financial statements for the year ended 29 February 2024
PRO-TECH AUTOMOTIVE LTD unaudited financial statements Contents
Page
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PRO-TECH AUTOMOTIVE LTD Company Information for the year ended 29 February 2024
Directors
Barry Christopher James STANDEN Lynsey STANDEN
Company Number
8310730 (England and Wales)
Registered Office
21 HYDE PARK ROAD LEEDS LS6 1PY
Accountants
HLA Accountants 21 Hyde Park Road Leeds West Yorkshire LS6 1PY
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Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of PRO-TECH AUTOMOTIVE LTD for the year ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of PRO-TECH AUTOMOTIVE LTD for the year ended 29 February 2024 as set out on pages 5 - 8 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
HLA Accountants Chartered Certified Accountants 21 Hyde Park Road Leeds West Yorkshire LS6 1PY 29 November 2024
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PRO-TECH AUTOMOTIVE LTD Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
53,763 
48,273 
Current assets
Inventories
812 
7,812 
Debtors
67,755 
77,548 
Cash at bank and in hand
39,243 
23,968 
107,810 
109,328 
Creditors: amounts falling due within one year
(81,727)
(43,215)
Net current assets
26,083 
66,113 
Total assets less current liabilities
79,846 
114,386 
Creditors: amounts falling due after more than one year
(34,733)
(40,495)
Provisions for liabilities
Other provisions
(341)
- 
Net assets
44,772 
73,891 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
44,770 
73,889 
Shareholders' funds
44,772 
73,891 
For the year ending 29 February 2024 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2024 and were signed on its behalf by
Barry Christopher James STANDEN Director Company Registration No. 8310730
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PRO-TECH AUTOMOTIVE LTD Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
PRO-TECH AUTOMOTIVE LTD is a private company, limited by shares, registered in England and Wales, registration number 8310730. The registered office is 21 HYDE PARK ROAD, LEEDS, LS6 1PY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants
Government grants in relation to job retention scheme are credited to profit and loss account , whereas those in relation to expenditure are charged to profit and loss. Also, local council grants are received in terms of Covid-19 pandemic are credit to profit and loss account under other operating expenses, whereas all fixed cost against these are debited in the profit and loss account too.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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PRO-TECH AUTOMOTIVE LTD Notes to the Accounts for the year ended 29 February 2024
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 March 2023
60,142 
21,683 
4,523 
86,348 
Additions
15,304 
2,422 
1,021 
18,747 
At 29 February 2024
75,446 
24,105 
5,544 
105,095 
Depreciation
At 1 March 2023
28,317 
7,805 
1,953 
38,075 
Charge for the year
9,295 
3,260 
702 
13,257 
At 29 February 2024
37,612 
11,065 
2,655 
51,332 
Net book value
At 29 February 2024
37,834 
13,040 
2,889 
53,763 
At 28 February 2023
31,825 
13,878 
2,570 
48,273 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
64,147 
77,546 
Other debtors
3,606 
- 
67,753 
77,546 
Amounts falling due after more than one year
Other debtors
2 
2 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
12,506 
11,445 
Trade creditors
35,269 
26,234 
Taxes and social security
25,140 
5,536 
Other creditors
8,812 
- 
81,727 
43,215 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
23,606 
31,605 
Obligations under finance leases and hire purchase contracts
11,127 
8,890 
34,733 
40,495 
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PRO-TECH AUTOMOTIVE LTD Notes to the Accounts for the year ended 29 February 2024
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
9
Average number of employees
During the year the average number of employees was 6 (2023: 6).
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