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REGISTERED NUMBER: 00991706 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Propotec Ltd

Propotec Ltd (Registered number: 00991706)

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Propotec Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Mr B M Karl





REGISTERED OFFICE: Lewis House
Great Chesterford Court
Great Chesterford
Essex
CB10 1PF





REGISTERED NUMBER: 00991706 (England and Wales)

Propotec Ltd (Registered number: 00991706)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 510 281

CURRENT ASSETS
Stocks 5,732 5,238
Debtors 6 127,829 119,302
Cash at bank and in hand 92 70
133,653 124,610
CREDITORS
Amounts falling due within one year 7 116,418 86,075
NET CURRENT ASSETS 17,235 38,535
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,745

38,816

CREDITORS
Amounts falling due after more than one year 8 18,964 15,667
NET (LIABILITIES)/ASSETS (1,219 ) 23,149

CAPITAL AND RESERVES
Called up share capital 45 45
Capital redemption reserve 45 45
Retained earnings (1,309 ) 23,059
(1,219 ) 23,149

Propotec Ltd (Registered number: 00991706)

Balance Sheet - continued
31 December 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 6 January 2025 and were signed by:





Mr B M Karl - Director


Propotec Ltd (Registered number: 00991706)

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. STATUTORY INFORMATION

Propotec 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going concern
The Company incurred a loss for the financial year and as at the year end has net liabilities as disclosed on the balance sheet. The financial statements are prepared on the going concern basis on the assumption that the Company will continue to receive sufficient financial support from its shareholders and have access to funding to to enable the Company to settle its debt and meet its liabilities as they fall due.

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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Government grants
Government grants in relation to tangible fixed asset are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.

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

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Propotec Ltd (Registered number: 00991706)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

Propotec Ltd (Registered number: 00991706)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 58,331
Additions 553
At 31 December 2023 58,884
DEPRECIATION
At 1 January 2023 58,050
Charge for year 324
At 31 December 2023 58,374
NET BOOK VALUE
At 31 December 2023 510
At 31 December 2022 281

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,824 22,114
Other debtors 125,005 97,188
127,829 119,302

Other debtors consists of prepayments of £8,712 (2022 - £9,073), a directors loan account balance of £32,974 (2022 - £17,827), a connected company balance of £69,950 (2022 - £65,950), taxes repayable of £11,056 (2022 - £nil), and other debtors of £2,313 (2022 - £4,338).

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,078 21,943
Trade creditors 11,327 12,091
Taxation and social security 73,667 41,462
Other creditors 22,346 10,579
116,418 86,075

Other creditors consists of accrued expenses of £5,533 (2022 - £8,875), pension payable of £256 (2022 - £168) and credit card balances of £16,557 (2022 - £1,536).

Propotec Ltd (Registered number: 00991706)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 18,964 15,667

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year, the company continued to provide an interest-bearing loan to its director. Amounts advanced to the director totalled £49,284, amounts repaid to the company totalled £35,116 and interest charged on the loan at a rate of 3.3% totalled £979. The balance owed to the company at the year end totalled £32,974 (2022 - £17,827) and is repayable on demand.

10. RELATED PARTY DISCLOSURES

During the year, the company continued to provide an interest-free loan to JJ Assets and Holdings Ltd, a company in which the director is 100% shareholder. The total balance due from JJ Assets and Holdings Ltd at the year end is £69,950 (2022 - £65,950) and is repayable on demand.