2023-06-012024-05-312024-05-31falseNI638278PROTAMINO NUTRITION 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PROTAMINO NUTRITION LTD

Registered Number
NI638278
(Northern Ireland)

Unaudited Financial Statements for the Year ended
31 May 2024

PROTAMINO NUTRITION LTD
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

AUSTIN, Jarlath
MCCRUDDEN, Lisa

Registered Address

3 Corriewood Industrial Estate
Station Road
Castlewellan
BT31 9NF

Registered Number

NI638278 (Northern Ireland)
PROTAMINO NUTRITION LTD
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets374,64490,677
74,64490,677
Current assets
Stocks4407,946412,245
Debtors1,646,2362,096,193
Cash at bank and on hand101,85966,000
2,156,0412,574,438
Creditors amounts falling due within one year5(1,461,282)(1,899,052)
Net current assets (liabilities)694,759675,386
Total assets less current liabilities769,403766,063
Creditors amounts falling due after one year6(69,733)(113,534)
Net assets699,670652,529
Capital and reserves
Called up share capital100100
Profit and loss account699,570652,429
Shareholders' funds699,670652,529
The financial statements were approved and authorised for issue by the Board of Directors on 16 January 2025, and are signed on its behalf by:
AUSTIN, Jarlath
Director
MCCRUDDEN, Lisa
Director

Registered Company No. NI638278
PROTAMINO NUTRITION LTD
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year1210
3.Tangible fixed assets

Plant & machinery

Vehicles

Total

£££
Cost or valuation
At 01 June 2365,48856,245121,733
Additions2,239-2,239
At 31 May 2467,72756,245123,972
Depreciation and impairment
At 01 June 2318,80212,25431,056
Charge for year9,4738,79918,272
At 31 May 2428,27521,05349,328
Net book value
At 31 May 2439,45235,19274,644
At 31 May 2346,68643,99190,677
4.Stocks

2024

2023

££
Finished goods407,946412,245
Total407,946412,245
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables584,858781,261
Bank borrowings and overdrafts594,228840,694
Amounts owed to related parties108,986114,545
Taxation and social security44,39157,574
Other creditors121,81999,478
Accrued liabilities and deferred income7,0005,500
Total1,461,2821,899,052
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts53,33289,999
Other creditors16,40123,535
Total69,733113,534
7.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts16,40123,535