Registered number
04216141
Protec Medical Limited
Filleted Accounts
31 October 2024
Protec Medical Limited
Company Information
Directors
P M Collins
Accountants
Anderson Griffin
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
Registered office
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
Registered number
04216141
Protec Medical Limited
Registered number: 04216141
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 334,346 339,792
Current assets
Debtors 4 12,649 13,926
Cash at bank and in hand 21,151 10,875
33,800 24,801
Creditors: amounts falling due within one year 5 (16,303) (16,267)
Net current assets 17,497 8,534
Total assets less current liabilities 351,843 348,326
Provisions for liabilities 853 1,136
Net assets 352,696 349,462
Capital and reserves
Called up share capital 2 2
Profit and loss account 352,694 349,460
Shareholders' funds 352,696 349,462
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P M Collins
Director
Approved by the board on 31 December 2024
Protec Medical Limited
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 1% on cost
Fixtures and fittings 25% straight line
Motor vehicles 25% reducing balance
Computer equipment 33% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 3
3 Tangible fixed assets
Freehold Property Office equipment Motor vehicles Total
£ £ £ £
Cost
At 1 November 2023 395,036 47,402 32,717 475,155
At 31 October 2024 395,036 47,402 32,717 475,155
Depreciation
At 1 November 2023 61,227 47,402 26,734 135,363
Charge for the year 3,950 - 1,496 5,446
At 31 October 2024 65,177 47,402 28,230 140,809
Net book value
At 31 October 2024 329,859 - 4,487 334,346
At 31 October 2023 333,809 - 5,983 339,792
4 Debtors 2024 2023
£ £
Trade debtors 649 1,127
Other debtors 12,000 12,799
12,649 13,926
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 4,445 328
Taxation and social security costs 11,383 15,407
Other creditors 475 532
16,303 16,267
6 Controlling party
The company is controlled by the directors.
7 Other information
Protec Medical Limited is a private company limited by shares and incorporated in England. Its registered office is:
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
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