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REGISTERED NUMBER: 02920530 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Pro-Moulds (Midlands) Limited

Pro-Moulds (Midlands) Limited (Registered number: 02920530)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Pro-Moulds (Midlands) Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mr M Beeby
Mrs K Beeby





SECRETARY: Mr M Beeby





REGISTERED OFFICE: Burma Road
Blidworth Industrial Park
Blidworth
Nottingham
NG21 0RT





REGISTERED NUMBER: 02920530 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
Pinnacle House
1 Pinnacle Way
Derby
Derbyshire
DE24 8ZS

Pro-Moulds (Midlands) Limited (Registered number: 02920530)

Statement of Financial Position
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,023,072 1,097,866
1,023,072 1,097,866

CURRENT ASSETS
Stocks 72,383 160,120
Debtors 6 176,769 231,887
Cash at bank 210,579 95,727
459,731 487,734
CREDITORS
Amounts falling due within one year 7 181,839 165,441
NET CURRENT ASSETS 277,892 322,293
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,300,964

1,420,159

CREDITORS
Amounts falling due after more than one
year

8

(101,935

)

(143,553

)

PROVISIONS FOR LIABILITIES (142,969 ) (161,601 )
NET ASSETS 1,056,060 1,115,005

CAPITAL AND RESERVES
Called up share capital 10 10,000 10,000
Revaluation reserve 208,915 208,915
Retained earnings 837,145 896,090
SHAREHOLDERS' FUNDS 1,056,060 1,115,005

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.

Pro-Moulds (Midlands) Limited (Registered number: 02920530)

Statement of Financial Position - 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 27 February 2025 and were signed on its behalf by:





Mr M Beeby - Director


Pro-Moulds (Midlands) Limited (Registered number: 02920530)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Pro-Moulds (Midlands) 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life. Following an impairment review by the directors, the balance of goodwill has been written off during the year.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Stocks
Stocks and work in progress are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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 statement of financial position date.


Pro-Moulds (Midlands) Limited (Registered number: 02920530)

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 statement of financial position 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 23,241
AMORTISATION
At 1 July 2023
and 30 June 2024 23,241
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

Pro-Moulds (Midlands) Limited (Registered number: 02920530)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023 450,000 1,297,377 1,747,377
Additions - 44,868 44,868
At 30 June 2024 450,000 1,342,245 1,792,245
DEPRECIATION
At 1 July 2023 - 649,511 649,511
Charge for year - 119,662 119,662
At 30 June 2024 - 769,173 769,173
NET BOOK VALUE
At 30 June 2024 450,000 573,072 1,023,072
At 30 June 2023 450,000 647,866 1,097,866

The land and buildings have been valued at £450,000 by the directors. No external valuation has been completed since the land and buildings were last revalued in June 2009.


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 155,182 225,878
Prepayments and accrued income 21,587 6,009
176,769 231,887

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 41,963 44,234
Trade creditors 70,021 46,864
Tax 3,911 10,142
Social security and other taxes 11,567 13,315
VAT 24,637 24,106
Directors' current accounts 26,015 23,230
Accruals and deferred income 3,725 3,550
181,839 165,441

Pro-Moulds (Midlands) Limited (Registered number: 02920530)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

An analysis of the maturity of loans is given below:
20242023
££

Amounts payable by instalments and due between two and five years:
Bank loans69,77673,881

Amount payable by instalments and due after more than five years
Bank loans32,15969,672


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 143,898 187,787

The company's bank loans are secured by way of a fixed and floating charges over the company's assets.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10,000 Ordinary 1 10,000 10,000