REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 |
FOR |
PRO-CAST GROUP LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 |
FOR |
PRO-CAST GROUP LIMITED |
PRO-CAST GROUP LIMITED (REGISTERED NUMBER: 06677363) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 AUGUST 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
PRO-CAST GROUP LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 AUGUST 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
61 Queen Square |
Bristol |
BS1 4JZ |
PRO-CAST GROUP LIMITED (REGISTERED NUMBER: 06677363) |
BALANCE SHEET |
31 AUGUST 2024 |
2024 | 2023 |
Notes | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
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-CAST GROUP LIMITED (REGISTERED NUMBER: 06677363) |
BALANCE SHEET - continued |
31 AUGUST 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
PRO-CAST GROUP LIMITED (REGISTERED NUMBER: 06677363) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 AUGUST 2024 |
1. | STATUTORY INFORMATION |
Pro-Cast Group Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the value of goods despatched and services rendered during the year, excluding value added tax. |
Tangible fixed assets |
Plant and machinery | - |
Office equipment | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
PRO-CAST GROUP LIMITED (REGISTERED NUMBER: 06677363) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 AUGUST 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Financial assets and liabilities are recognised in the balance sheet when the company becomes party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and are measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank. |
Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of any direct issue costs. |
Other loans which meet the criteria of basic financial instruments are initially recorded at the present value of cash payable to the lender, usually being equivalent to the proceeds received net of direct issue costs. These liabilities are subsequently measured at amortised cost, using the effective interest rate method. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
PRO-CAST GROUP LIMITED (REGISTERED NUMBER: 06677363) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 AUGUST 2024 |
2. | ACCOUNTING POLICIES - continued |
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. |
Going concern |
The directors have reviewed the going concern status of the business for the foreseeable future and have concluded that they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors therefore continue to adopt the going concern basis of accounting in preparing these financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and | Office | Motor | Computer |
machinery | equipment | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 September 2023 |
Additions |
At 31 August 2024 |
DEPRECIATION |
At 1 September 2023 |
Charge for year |
At 31 August 2024 |
NET BOOK VALUE |
At 31 August 2024 |
At 31 August 2023 |
5. | STOCKS |
2024 | 2023 |
£ | £ |
Stocks |
PRO-CAST GROUP LIMITED (REGISTERED NUMBER: 06677363) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 AUGUST 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Corporation tax |
Social security and other taxes |
VAT | 10,149 | 13,809 |
Other creditors |
Accruals and deferred income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Directors' loan accounts | - | 31,000 |
9. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
10. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
PRO-CAST GROUP LIMITED (REGISTERED NUMBER: 06677363) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 AUGUST 2024 |
10. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 1 September 2023 |
Charge to Income Statement during year |
Balance at 31 August 2024 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary A | £1.00 | 30 | 30 |
Ordinary B | £1.00 | 40 | 40 |
Ordinary C | £1.00 | 30 | 30 |
100 | 100 |
All Ordinary A, Ordinary B and Ordinary C shares rank pari passu in all respects, except in relation to the payment of dividends. |
12. | RELATED PARTY DISCLOSURES |
Ultimate control lies with |
At 31 August 2024 S Roebuck was owed £Nil (2023 - £31,000) by the company of which £Nil (2023 - £NIL) is due within one year and £Nil (2023 - £31,000) is repayable after more than one year. The loan is unsecured and does not carry any interest. |