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REGISTERED NUMBER: 03480116 (England and Wales)















Financial Statements for the Year Ended 31st October 2024

for

PROTEK SYSTEMS LTD

PROTEK SYSTEMS LTD (REGISTERED NUMBER: 03480116)






Contents of the Financial Statements
for the Year Ended 31st October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROTEK SYSTEMS LTD

Company Information
for the Year Ended 31st October 2024







DIRECTORS: Mr K G Wenman
Ms N Eades
Mr J Wenman





SECRETARY: Mr K G Wenman





REGISTERED OFFICE: 89 Leigh Road
Eastleigh
Hampshire
SO50 9DQ





REGISTERED NUMBER: 03480116 (England and Wales)





ACCOUNTANTS: Graham Martin & Co
Accountants
89 Leigh Road
Eastleigh
Hampshire
SO50 9DQ

PROTEK SYSTEMS LTD (REGISTERED NUMBER: 03480116)

Balance Sheet
31st October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 42,245 86,835

CURRENT ASSETS
Debtors 5 1,067,874 958,095
Cash at bank 199,954 99,005
1,267,828 1,057,100
CREDITORS
Amounts falling due within one year 6 391,403 329,830
NET CURRENT ASSETS 876,425 727,270
TOTAL ASSETS LESS CURRENT
LIABILITIES

918,670

814,105

CREDITORS
Amounts falling due after more than one
year

7

(5,833

)

(36,616

)

PROVISIONS FOR LIABILITIES (10,561 ) (21,709 )
NET ASSETS 902,276 755,780

CAPITAL AND RESERVES
Called up share capital 750,100 750,100
Retained earnings 152,176 5,680
SHAREHOLDERS' FUNDS 902,276 755,780

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

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

PROTEK SYSTEMS LTD (REGISTERED NUMBER: 03480116)

Balance Sheet - continued
31st October 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7th January 2025 and were signed on its behalf by:




Mr J Wenman - Director



Mr K G Wenman - Director


PROTEK SYSTEMS LTD (REGISTERED NUMBER: 03480116)

Notes to the Financial Statements
for the Year Ended 31st October 2024

1. STATUTORY INFORMATION

Protek Systems 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.

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.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

The company's policy is to recognise a sale in proportion to when substantially all the risks and rewards in connection with the goods and services provided have been passed to the buyer.

In respect of long term contracts and contracts for ongoing services, turnover is recognised by reference to the stage of completion and when a right to consideration exists in proportion to when all the risks and rewards in connection with the goods and services provided have been passed to the buyer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc - 25% straight line

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

PROTEK SYSTEMS LTD (REGISTERED NUMBER: 03480116)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1st November 2023 33,586 130,843 164,429
Additions 5,202 - 5,202
Disposals - (59,495 ) (59,495 )
At 31st October 2024 38,788 71,348 110,136
DEPRECIATION
At 1st November 2023 27,144 50,450 77,594
Charge for year 4,595 11,731 16,326
Eliminated on disposal - (26,029 ) (26,029 )
At 31st October 2024 31,739 36,152 67,891
NET BOOK VALUE
At 31st October 2024 7,049 35,196 42,245
At 31st October 2023 6,442 80,393 86,835

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 196,182 88,809
Amounts owed by group undertakings 433,844 434,668
Other debtors 437,848 434,618
1,067,874 958,095

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 30,000 30,000
Trade creditors 151,993 52,792
Taxation and social security 78,263 53,109
Other creditors 131,147 193,929
391,403 329,830

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 5,833 36,616

8. RELATED PARTY DISCLOSURES

At 31st October 2024 the company was owed £432,834 (2023: £434,668) by Castleacre Systems Limited.

This loan is interest free and repayable on demand.

PROTEK SYSTEMS LTD (REGISTERED NUMBER: 03480116)

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

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J Wenman.