IRIS Accounts Production v24.3.0.553 05604492 Board of Directors Board of Directors 1.9.23 31.8.24 31.8.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh056044922023-08-31056044922024-08-31056044922023-09-012024-08-31056044922022-08-31056044922022-09-012023-08-31056044922023-08-3105604492ns15:EnglandWales2023-09-012024-08-3105604492ns14:PoundSterling2023-09-012024-08-3105604492ns10:Director12023-09-012024-08-3105604492ns10:Director22023-09-012024-08-3105604492ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3105604492ns10:SmallEntities2023-09-012024-08-3105604492ns10:AuditExempt-NoAccountantsReport2023-09-012024-08-3105604492ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3105604492ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3105604492ns10:FullAccounts2023-09-012024-08-3105604492ns10:Director32023-09-012024-08-3105604492ns10:CompanySecretary12023-09-012024-08-3105604492ns10:RegisteredOffice2023-09-012024-08-3105604492ns5:CurrentFinancialInstruments2024-08-3105604492ns5:CurrentFinancialInstruments2023-08-3105604492ns5:Non-currentFinancialInstruments2024-08-3105604492ns5:Non-currentFinancialInstruments2023-08-3105604492ns5:ShareCapital2024-08-3105604492ns5:ShareCapital2023-08-3105604492ns5:RetainedEarningsAccumulatedLosses2024-08-3105604492ns5:RetainedEarningsAccumulatedLosses2023-08-3105604492ns5:FurnitureFittings2023-09-012024-08-3105604492ns5:MotorVehicles2023-09-012024-08-3105604492ns5:FurnitureFittings2023-08-3105604492ns5:MotorVehicles2023-08-3105604492ns5:FurnitureFittings2024-08-3105604492ns5:MotorVehicles2024-08-3105604492ns5:FurnitureFittings2023-08-3105604492ns5:MotorVehicles2023-08-3105604492ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-08-3105604492ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-08-3105604492ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-08-3105604492ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-08-3105604492ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-08-3105604492ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-08-3105604492ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-08-3105604492ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-08-3105604492ns5:HirePurchaseContracts2024-08-3105604492ns5:HirePurchaseContracts2023-08-3105604492ns5:WithinOneYear2024-08-3105604492ns5:WithinOneYear2023-08-3105604492ns5:BetweenOneFiveYears2024-08-3105604492ns5:BetweenOneFiveYears2023-08-3105604492ns5:AllPeriods2024-08-3105604492ns5:AllPeriods2023-08-3105604492ns5:DeferredTaxation2023-08-3105604492ns5:DeferredTaxation2024-08-31
REGISTERED NUMBER: 05604492 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 August 2024

for

PROCLAD (DEVELOPMENTS) LIMITED

PROCLAD (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 05604492)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROCLAD (DEVELOPMENTS) LIMITED

Company Information
for the Year Ended 31 August 2024







DIRECTORS: A A Bell
Mrs R Bell
T J Bell





SECRETARY: Mrs R Bell





REGISTERED OFFICE: Croft Cottage
Snail Hill
Rotherham
South Yorkshire
S60 2BZ





REGISTERED NUMBER: 05604492 (England and Wales)





ACCOUNTANTS: S Burgess & Co Ltd
11 Slayleigh Avenue
Sheffield
South Yorkshire
S10 3RA

PROCLAD (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 05604492)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,754 4,814

CURRENT ASSETS
Stocks 5 14,042 9,056
Debtors 6 957,415 1,873,081
Cash at bank 793,129 288,664
1,764,586 2,170,801
CREDITORS
Amounts falling due within one year 7 476,907 920,292
NET CURRENT ASSETS 1,287,679 1,250,509
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,312,433

1,255,323

CREDITORS
Amounts falling due after more than one
year

8

(26,449

)

(17,499

)

PROVISIONS FOR LIABILITIES 10 (6,189 ) (1,204 )
NET ASSETS 1,279,795 1,236,620

CAPITAL AND RESERVES
Called up share capital 12,100 12,100
Retained earnings 1,267,695 1,224,520
SHAREHOLDERS' FUNDS 1,279,795 1,236,620

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

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

PROCLAD (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 05604492)

Balance Sheet - continued
31 August 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 6 January 2025 and were signed on its behalf by:




A A Bell - Director



Mrs R Bell - Director


PROCLAD (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 05604492)

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

1. STATUTORY INFORMATION

Proclad (Developments) Limited 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.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover comprises the invoiced value of cladding supply and installation contract services, excluding value added tax. Turnover is recognised in accordance with the contract terms, with contracts ongoing over the year end treated in accordance with the accounting policy set out below under the heading "stocks and work in progress".

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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.

PROCLAD (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 05604492)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period, The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account as incurred.

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.

Stocks & work in progress
Stock principally comprises fixings, panels and miscellaneous parts, which are all valued at cost.

Contract work in progress is stated at cost, net of amounts transferred to cost of sales, less any foreseeable losses and progress payments received and receivable, not matched with turnover. A foreseeable loss is that which is currently estimated to arise over the duration of any contract, irrespective of the amount of work carried out at the balance sheet date.

Profit on long term contracts is recognised when the outcome of contracts can be assessed with reasonable certainty, and is that amount which is estimated to reflect fairly the profit arising up to the accounting date. Profit on long term contracts is recognised in the profit and loss account as the difference between the reported turnover, and the related costs.

Debtors and creditors due within one year
Debtors and creditors with no stated interest rate, which are due within one year, are stated at the transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income within administrative expenses.

Impairment
At each balance sheet date, assets not measured at fair value are reviewed for any indication that the asset may be impaired at the balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit and loss account unless the asset is carried at a revalued amount, where the impairment loss is recognised as a revaluation reduction.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

PROCLAD (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 05604492)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 September 2023 19,117 - 19,117
Additions - 27,870 27,870
At 31 August 2024 19,117 27,870 46,987
DEPRECIATION
At 1 September 2023 14,303 - 14,303
Charge for year 963 6,967 7,930
At 31 August 2024 15,266 6,967 22,233
NET BOOK VALUE
At 31 August 2024 3,851 20,903 24,754
At 31 August 2023 4,814 - 4,814

5. STOCKS
31.8.24 31.8.23
£    £   
Stocks 14,042 9,056

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 601,435 1,631,228
Amounts recoverable on contract 320,723 208,941
VAT 1,724 28,601
Prepayments 33,533 4,311
957,415 1,873,081

PROCLAD (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 05604492)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts (see note 9) 5,784 -
Payments on account of
contracts - 34,116
Trade creditors 285,272 518,110
Corporation tax 43,881 219,451
Social security and other taxes 26,970 25,632
Other creditors - 928
Directors' current accounts - 7,555
Accruals 105,000 104,500
476,907 920,292

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans 7,499 17,499
Hire purchase contracts (see note 9) 18,950 -
26,449 17,499

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.8.24 31.8.23
£    £   
Net obligations repayable:
Within one year 5,784 -
Between one and five years 18,950 -
24,734 -

Non-cancellable operating leases
31.8.24 31.8.23
£    £   
Within one year 39,613 40,339
Between one and five years 43,541 11,245
83,154 51,584

PROCLAD (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 05604492)

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

10. PROVISIONS FOR LIABILITIES
31.8.24 31.8.23
£    £   
Deferred tax 6,189 1,204

Deferred
tax
£   
Balance at 1 September 2023 1,204
Accelerated capital allowances 4,985
Balance at 31 August 2024 6,189