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REGISTERED NUMBER: 10230463 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Prototrim Manufacturing Limited

Prototrim Manufacturing Limited (Registered number: 10230463)






Contents of the Financial Statements
for the year ended 30 June 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


Prototrim Manufacturing Limited

Company Information
for the year ended 30 June 2024







DIRECTORS: Mr M J Flemans
Mr S R Hawker
Mr D F Cox
Mr C Higham





REGISTERED OFFICE: Unit 35
Heathfield
Stacey Bushes
Milton Keynes
MK12 6HR





REGISTERED NUMBER: 10230463 (England and Wales)





ACCOUNTANTS: Clifford Roberts
Chartered Accountants
Pacioli House
9 Brookfield
Duncan Close
Northampton
Northamptonshire
NN3 6WL

Prototrim Manufacturing Limited (Registered number: 10230463)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 324,580 376,182

CURRENT ASSETS
Stocks 30,000 26,750
Debtors 5 363,826 404,669
Cash at bank and in hand 226,346 359,733
620,172 791,152
CREDITORS
Amounts falling due within one year 6 327,231 288,186
NET CURRENT ASSETS 292,941 502,966
TOTAL ASSETS LESS CURRENT
LIABILITIES

617,521

879,148

PROVISIONS FOR LIABILITIES 22,958 26,016
NET ASSETS 594,563 853,132

CAPITAL AND RESERVES
Called up share capital 9 160,000 160,000
Retained earnings 434,563 693,132
SHAREHOLDERS' FUNDS 594,563 853,132

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Prototrim Manufacturing Limited (Registered number: 10230463)

Balance Sheet - continued
30 June 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 24 February 2025 and were signed on its behalf by:




Mr D F Cox - Director



Mr C Higham - Director


Prototrim Manufacturing Limited (Registered number: 10230463)

Notes to the Financial Statements
for the year ended 30 June 2024

1. STATUTORY INFORMATION

Prototrim Manufacturing 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 (£) and cover the period to the 30th June each year.

Going Concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover represents the invoiced amount of services and products manufactured stated net of value added tax. The turnover and pre tax profit is wholly attributable to the operating activities of the company. Turnover is recognised upon evidence of the delivery of the manufactured item.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on reducing balance
Leasehold Improvements - 33% on cost
Short leasehold - 33% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Prototrim Manufacturing Limited (Registered number: 10230463)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Interest bearing borrowings
Interest bearing borrowings are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, interest bearing borrowings are stated at amortised cost with any difference between the amount initially recognised and redemption value being recognised in the statement of comprehensive income over the period of the borrowings, together with any interest and fees payable, using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 5 ) .

Prototrim Manufacturing Limited (Registered number: 10230463)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Improvements
Freehold Leasehold Short to
property Improvements leasehold property
£    £    £    £   
COST
At 1 July 2023 267,496 65,299 14,524 30,523
Additions - - - -
At 30 June 2024 267,496 65,299 14,524 30,523
DEPRECIATION
At 1 July 2023 31,038 35,398 9,586 29,310
Charge for year 4,730 21,164 4,793 1,187
At 30 June 2024 35,768 56,562 14,379 30,497
NET BOOK VALUE
At 30 June 2024 231,728 8,737 145 26
At 30 June 2023 236,458 29,901 4,938 1,213

Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 89,835 7,677 109,087 8,429 592,870
Additions 13,250 - - 2,060 15,310
At 30 June 2024 103,085 7,677 109,087 10,489 608,180
DEPRECIATION
At 1 July 2023 72,777 5,107 25,448 8,024 216,688
Charge for year 9,593 1,129 23,897 419 66,912
At 30 June 2024 82,370 6,236 49,345 8,443 283,600
NET BOOK VALUE
At 30 June 2024 20,715 1,441 59,742 2,046 324,580
At 30 June 2023 17,058 2,570 83,639 405 376,182

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 296,483 377,188
Amounts owed by group undertakings 2,035 1,675
Other debtors 65,308 25,806
363,826 404,669

Prototrim Manufacturing Limited (Registered number: 10230463)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 30,825 2,445
Taxation and social security 216,354 195,629
Other creditors 80,052 90,112
327,231 288,186

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 30,000 30,000
Between one and five years 17,500 47,500
47,500 77,500

8. FINANCIAL RISK MANAGEMENT

The company has some exposure to credit, liquidity and cash flow interest rate risks, These risks are limited by the company's financial management policies and practices described below.

Foreign currency risk
Some of the companies sales and purchases can from entities in other currencies, and so the company is exposed to foreign currency fluctuations, where possible the company tries to invoice on a proforma basis or in sterling to limit the foreign currency risk exposure.

Credit risk
The company's exposure and it's customers credit worthiness is continually monitored so that any potential problems are detected at an early stage, this is less of a risk given the types of clients being invoiced, but in certain circumstances, outside of the companies ability to influence, there is risk that payment may not be forthcoming.

Liquidity risk
The directors have ultimate responsibility for liquidity risk management in maintaining adequate reserves and banking facilities.

Market risk
There is a market risk associated with the fluctuation in demand for the products and services provided. Most of this is mitigated by monitoring the market for the services provided, and given the project based nature of the majority of the work, the directors take a serious attitude towards this risk.

The company holds no derivative financial instruments at the year end.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid
Number: Class: Nominal 2023 2022
Value: £ £
40,000 A Ordinary £1 40,000 40,000
40,000 B Ordinary £1 40,000 40,000
40,000 C Ordinary £1 40,000 40,000
40,000 D Ordinary £1 40,000 40,000
160,000 160,000

Prototrim Manufacturing Limited (Registered number: 10230463)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

10. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party, ownership is split amongst four separate entities.