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Filleted

Registration number: 06945159

Pro-Tect Grp Enclosures Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Pro-Tect Grp Enclosures Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 11

 

Pro-Tect Grp Enclosures Limited

Company Information

Directors

Mr C Davies

Mr C D Pocock

Mr C Jones

Registered office

Clarion House
Clarion Close
Swansea Enterprise Park
Swansea
SA6 8QZ

 

Pro-Tect Grp Enclosures Limited

(Registration number: 06945159)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

120,000

120,000

Tangible assets

6

318,199

302,998

 

438,199

422,998

Current assets

 

Stocks

7

120,000

120,000

Debtors

8

589,847

360,710

Cash at bank and in hand

 

140,812

286,288

 

850,659

766,998

Creditors: Amounts falling due within one year

9

(571,741)

(588,829)

Net current assets

 

278,918

178,169

Total assets less current liabilities

 

717,117

601,167

Creditors: Amounts falling due after more than one year

9

(160,937)

(183,012)

Net assets

 

556,180

418,155

Capital and reserves

 

Called up share capital

9

9

Share premium reserve

(435,030)

(435,030)

Profit and loss account

991,201

853,176

Total equity

 

556,180

418,155

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Pro-Tect Grp Enclosures Limited

(Registration number: 06945159)
Balance Sheet as at 30 June 2024

Approved and authorised by the Board on 4 March 2025 and signed on its behalf by:
 

.........................................
Mr C Davies
Director

   
     
 

Pro-Tect Grp Enclosures Limited

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

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Clarion House
Clarion Close
Swansea Enterprise Park
Swansea
SA6 8QZ

These financial statements were authorised for issue by the Board on 4 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Pro-Tect Grp Enclosures Limited

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Motor vehicles

15% reducing balance

Office equipment

15% reducing balance

Fixtures and Fittings

15% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Intangible asset

No amortisation

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Pro-Tect Grp Enclosures Limited

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Pro-Tect Grp Enclosures Limited

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

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 84 (2023 - 64).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

33,372

24,658

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 July 2023

120,000

120,000

At 30 June 2024

120,000

120,000

Amortisation

Carrying amount

At 30 June 2024

120,000

120,000

At 30 June 2023

120,000

120,000

 

Pro-Tect Grp Enclosures Limited

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

6

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

80,262

-

192,294

1,915

149,399

423,870

Additions

-

6,241

41,429

901

65,535

114,106

Disposals

-

-

-

-

(65,535)

(65,535)

At 30 June 2024

80,262

6,241

233,723

2,816

149,399

472,441

Depreciation

At 1 July 2023

-

-

92,560

219

28,093

120,872

Charge for the year

-

704

15,157

340

17,169

33,370

At 30 June 2024

-

704

107,717

559

45,262

154,242

Carrying amount

At 30 June 2024

80,262

5,537

126,006

2,257

104,137

318,199

At 30 June 2023

80,262

-

99,734

1,696

121,306

302,998

Included within the net book value of land and buildings above is £80,262 (2023 - £80,262) in respect of freehold land and buildings and £Nil (2023 - £Nil) in respect of long leasehold land and buildings.
 

 

Pro-Tect Grp Enclosures Limited

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

7

Stocks

2024
£

2023
£

Work in progress

120,000

120,000

8

Debtors

Note

2024
£

2023
£

Trade debtors

 

1,032,778

819,021

Amounts owed by group undertakings and undertakings in which the company has a participating interest

12

131,774

119,668

Other debtors

 

(574,705)

(577,979)

 

589,847

360,710

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

11

51,595

81,456

Trade creditors

 

287,590

333,944

Taxation and social security

 

172,713

157,524

Corporation tax liability

 

50,237

12,046

Other creditors

 

9,606

3,859

 

571,741

588,829

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

11

160,937

183,012

 

Pro-Tect Grp Enclosures Limited

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

10

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £0.00 each

4,002

4.00

4,002

4.00

Ordinary B shares of £0.00 each

4,002

4.00

4,002

4.00

Ordinary C shares of £0.00 each

1,000

1.00

1,000

1.00

 

9,004

9

9,004

9

11

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

63,156

94,724

HP and finance lease liabilities

97,781

88,288

160,937

183,012

2024
£

2023
£

Current loans and borrowings

Bank borrowings

31,567

63,157

HP and finance lease liabilities

20,028

18,299

51,595

81,456

 

Pro-Tect Grp Enclosures Limited

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

12

Related party transactions

Transactions with directors

2024

At 1 July 2023
£

Advances to director
£

Repayments by director
£

At 30 June 2024
£

Mr C Jones

Interest free loan with no fixed repayment date

23

95,300

(95,300)

23

         
       

Mr C Davies

Interest free loan with no fixed repayment date

23

95,300

(95,300)

23

         
       

Mr C D Pocock

Interest free loan with no fixed repayment date

23

95,300

(95,300)

23

         
       

 

2023

At 1 July 2022
£

Advances to director
£

Repayments by director
£

At 30 June 2023
£

Mr C Jones

Interest free loan with no fixed repayment date

23

52,500

(52,500)

23

         
       

Mr C Davies

Interest free loan with no fixed repayment date

23

52,500

(52,500)

23

         
       

Mr C D Pocock

Interest free loan with no fixed repayment date

23

52,500

(52,500)

23

         
       

 

Summary of transactions with other related parties

Pro-Tect Properties Ltd
 During the year rent was charged to the company of £40,000. The amount due is interest free and repayable on demand.