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REGISTERED NUMBER: 04774208 (England and Wales)















REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2024

FOR

PROTEGO UK LIMITED

PROTEGO UK LIMITED (REGISTERED NUMBER: 04774208)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company information 1

Report of the directors 2

Report of the independent auditors 4

Income statement 8

Balance sheet 9

Notes to the financial statements 10


PROTEGO UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







Directors: B J Luckman
M Davies



Secretaries: Ms B Marzheuser-Wood
S L Haynes



Registered office: Unit 30, Malvern Hills Science Park
Geraldine Road
Malvern
WR14 3SZ



Registered number: 04774208 (England and Wales)



Auditors: Derek Young & Co Accountants LLP
Statutory Auditors
Chartered Accountants
Estate House
Evesham Street
Worcestershire
B97 4HP



Accountants: Athos Business Solutions Limited
1623 Warwick Road
Knowle
Solihull
West Midlands
B93 9LF

PROTEGO UK LIMITED (REGISTERED NUMBER: 04774208)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2024


The directors present their report with the financial statements of the company for the year ended 31 December 2024.

Directors
The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

B J Luckman
M Davies

Statement of directors' responsibilities
The directors are responsible for preparing the Report of the directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure of information to auditors
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.


PROTEGO UK LIMITED (REGISTERED NUMBER: 04774208)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2024

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

On behalf of the board:





B J Luckman - Director


3 April 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PROTEGO UK LIMITED


Opinion
We have audited the financial statements of Protego UK Limited (the 'company') for the year ended 31 December 2024 which comprise the Income statement, Balance sheet and Notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Report of the directors, but does not include the financial statements and our Report of the auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the directors has been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PROTEGO UK LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic report or in preparing the Report of the directors.

Responsibilities of directors
As explained more fully in the Statement of directors' responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PROTEGO UK LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As required by International Standard on Quality Management 1, the engagement partner is responsible for overseeing that the audit is conducted in accordance with the firm's quality management policies and procedures. The engagement partner's responsibilities include taking appropriate actions where necessary to address any identified deficiencies or deviations from the firm's policies and procedures.

The firm's policies and procedures are designed to ensure that the audit is conducted in accordance with ISAs UK and applicable legal and regulatory requirements, and that reports issued are appropriate in the circumstances.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we considered the following:

- the nature of the industry and sector, control environment and business performance including the design of the company's remuneration policies, key drivers for directors' remuneration, bonus levels and performance targets;

- the results of our enquiries of management about their own identification and assessment of the risks of irregularities

- any matters we identified having obtained and reviewed the company's documentation of their policies and procedures relating to:
- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; and
- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;

- the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and local tax legislation. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty.

As a result of performing the above, we identified management override of controls as a key audit matter related to the potential risk of fraud. Our procedures to respond to risks identified included the following:

- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements ;

- enquiring of management concerning actual and potential litigation and claims;

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
PROTEGO UK LIMITED


- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

- reading minutes of meetings of those charged with governance and reviewing correspondence with HMRC; and

- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Mr Stephen Young FCA (Senior Statutory Auditor)
for and on behalf of Derek Young & Co Accountants LLP
Statutory Auditors
Chartered Accountants
Estate House
Evesham Street
Worcestershire
B97 4HP

3 April 2025

PROTEGO UK LIMITED (REGISTERED NUMBER: 04774208)

INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024

2024 2023
Notes £    £   

TURNOVER 2,833,718 3,364,939

Cost of sales 1,946,937 2,327,167
GROSS PROFIT 886,781 1,037,772

Administrative expenses 864,885 647,556
21,896 390,216

Other operating income 232,908 -
OPERATING PROFIT 4 254,804 390,216

Interest receivable and similar income 40 14
PROFIT BEFORE TAXATION 254,844 390,230

Tax on profit 5 61,113 95,282
PROFIT FOR THE FINANCIAL YEAR 193,731 294,948

PROTEGO UK LIMITED (REGISTERED NUMBER: 04774208)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 7 10,675 12,567

CURRENT ASSETS
Stocks 44,109 30,237
Debtors 8 1,214,598 811,053
Cash at bank 929,213 597,923
2,187,920 1,439,213
CREDITORS
Amounts falling due within one year 9 1,610,697 957,281
NET CURRENT ASSETS 577,223 481,932
TOTAL ASSETS LESS CURRENT
LIABILITIES

587,898

494,499

PROVISIONS FOR LIABILITIES 433 765
NET ASSETS 587,465 493,734

CAPITAL AND RESERVES
Called up share capital 11 1 1
Retained earnings 12 587,464 493,733
SHAREHOLDERS' FUNDS 587,465 493,734

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 3 April 2025 and were signed on its behalf by:





B J Luckman - Director


PROTEGO UK LIMITED (REGISTERED NUMBER: 04774208)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Protego UK 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Furniture & office equipment - 10% on cost
Computer equipment - 33% on cost

Tangible fixed assets are stated at cost less depreciation.

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 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.

PROTEGO UK LIMITED (REGISTERED NUMBER: 04774208)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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.

3. EMPLOYEES AND DIRECTORS

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

2024 2023
£    £   
Directors' remuneration 614,008 148,274

Information regarding the highest paid director for the year ended 31 December 2024 is as follows:
2024
£   
Emoluments etc 614,008

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 4,260 4,101

5. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 64,652 95,282
Overprovision in previous year (3,207 ) -
Total current tax 61,445 95,282

Deferred tax (332 ) -
Tax on profit 61,113 95,282

PROTEGO UK LIMITED (REGISTERED NUMBER: 04774208)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


6. DIVIDENDS
2024 2023
£    £   
Interim 100,000 100,000

7. TANGIBLE FIXED ASSETS
Furniture
& office Computer
equipment equipment Totals
£    £    £   
Cost
At 1 January 2024 12,537 14,876 27,413
Additions 664 1,704 2,368
At 31 December 2024 13,201 16,580 29,781
Depreciation
At 1 January 2024 2,735 12,111 14,846
Charge for year 1,475 2,785 4,260
At 31 December 2024 4,210 14,896 19,106
Net book value
At 31 December 2024 8,991 1,684 10,675
At 31 December 2023 9,802 2,765 12,567

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 897,324 732,092
Owed by group undertaking 62,867 42,958
Other debtors 246,988 27,729
Prepayments 7,419 8,274
1,214,598 811,053

PROTEGO UK LIMITED (REGISTERED NUMBER: 04774208)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Payments on account - 22,730
Trade creditors 111,392 45,841
Amounts owed to group undertakings 869,024 462,828
Tax 64,611 95,287
Social security and other taxes 67,562 36,315
VAT 140,786 124,738
Company credit card 514 170
Pension creditor 1,798 -
Accrued expenses 355,010 169,372
1,610,697 957,281

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 29,393 16,653
Between one and five years 57,009 38,857
86,402 55,510

11. CALLED UP SHARE CAPITAL

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

12. RESERVES
Retained
earnings
£   

At 1 January 2024 493,733
Profit for the year 193,731
Dividends (100,000 )
At 31 December 2024 587,464

PROTEGO UK LIMITED (REGISTERED NUMBER: 04774208)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


13. OTHER FINANCIAL COMMITMENTS

As at 31 December 2024 the company had forward currency obligations equivalent to £256,303.

14. ULTIMATE CONTROLLING PARTY

The company is under the control of Braunschweiger Flammenfilter Gmbh, a company incorporated in Germany, which owns 100% of the share capital, The consolidated accounts of Braunschweiger Flammenfilter Gmbh can be obtained from 11 Industriestrasse, 38110, Braunschweig, Germany.

The directors consider that there is no single controlling party.