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REGISTERED NUMBER: 07764959 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Protos Networks Limited

Protos Networks Limited (Registered number: 07764959)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Protos Networks Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: J M Joinson
D M Kewley
D Sansom





REGISTERED OFFICE: Poplar House
Park West Business Park
Sealand Road
Chester
Cheshire
CH1 4RN





REGISTERED NUMBER: 07764959 (England and Wales)





ACCOUNTANTS: Haines Watts
Military House
24 Castle Street
Chester
Cheshire
CH1 2DS

Protos Networks Limited (Registered number: 07764959)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 30,393 23,438

CURRENT ASSETS
Work in progress 46,000 18,360
Debtors 5 190,735 150,532
Cash at bank 281,991 213,748
518,726 382,640
CREDITORS
Amounts falling due within one year 6 287,768 214,341
NET CURRENT ASSETS 230,958 168,299
TOTAL ASSETS LESS CURRENT
LIABILITIES

261,351

191,737

CREDITORS
Amounts falling due after more than one
year

7

(103,847

)

(39,629

)

PROVISIONS FOR LIABILITIES (3,439 ) (1,313 )
NET ASSETS 154,065 150,795

CAPITAL AND RESERVES
Called up share capital 9 83 100
Capital redemption reserve 20 -
Retained earnings 153,962 150,695
SHAREHOLDERS' FUNDS 11 154,065 150,795

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

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

Protos Networks Limited (Registered number: 07764959)

Balance Sheet - continued
31 May 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 14 January 2025 and were signed on its behalf by:





D M Kewley - Director


Protos Networks Limited (Registered number: 07764959)

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

1. STATUTORY INFORMATION

Protos Networks 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 financial statements are presented in sterling which is the functional currency of the company, rounded to the nearest £1.

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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 25% on reducing balance
Fixtures and equipment - 33% on cost

Work in progress
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing work in progress to their present location and condition.

Taxation
Taxation for the year comprises current 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 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.

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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

Protos Networks Limited (Registered number: 07764959)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 87,318
Additions 25,685
At 31 May 2024 113,003
DEPRECIATION
At 1 June 2023 63,880
Charge for year 18,730
At 31 May 2024 82,610
NET BOOK VALUE
At 31 May 2024 30,393
At 31 May 2023 23,438

Fixed assets, included in the above, which are held under finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 33,923
DEPRECIATION
At 1 June 2023 27,473
Charge for year 5,312
At 31 May 2024 32,785
NET BOOK VALUE
At 31 May 2024 1,138
At 31 May 2023 6,450

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 175,283 150,532
Other debtors 15,452 -
190,735 150,532

Protos Networks Limited (Registered number: 07764959)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 10,241 4,776
Finance leases 5,674 5,948
Trade creditors 142,925 95,782
Taxation and social security 108,897 106,019
Other creditors 20,031 1,816
287,768 214,341

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 31,747 39,060
Finance leases 4,254 569
Other creditors 67,846 -
103,847 39,629

8. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Other loans 80,543 -
Finance leases 9,928 6,517
90,471 6,517

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
80 Ordinary £1 80 100
1 Ordinary A £1 1 -
1 Ordinary B £1 1 -
1 Ordinary C £1 1 -
83 100

Allotted and issued:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
1 Ordinary Share Capital A £1 1 -
1 Ordinary Share Capital B £1 1 -
1 Ordinary Share Capital C £1 1 -
3 -

Protos Networks Limited (Registered number: 07764959)

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

9. CALLED UP SHARE CAPITAL - continued

The following shares were issued during the year for cash at par :

1 Ordinary A share of £1
1 Ordinary B share of £1
1 Ordinary C share of £1

During the year, the company purchased 20 of its own Ordinary £1 Shares from Neil Gobsill.

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £113,000 (2023 - £102,603) were paid to the directors .

11. RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS
31.5.24 31.5.23
£    £   
Profit for the financial year 116,267 177,106
Dividends (113,000 ) (102,603 )
3,267 74,503
New share capital subscribed 3 -
Payments to acquire own shares (20 ) -
Capital redemption reserve movements 20 -
Net addition to shareholders' funds 3,270 74,503
Opening shareholders' funds 150,795 76,292
Closing shareholders' funds 154,065 150,795