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REGISTERED NUMBER: 10398283 (England and Wales)














Proteus Ltd

Unaudited Financial Statements

for the Year Ended 30 September 2024






Proteus Ltd (Registered number: 10398283)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Proteus Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTORS: J P Cooper
Mrs K J Payne





SECRETARY:





REGISTERED OFFICE: 10 Victoria Road South
Southsea
Hampshire
PO5 2DA





REGISTERED NUMBER: 10398283 (England and Wales)





ACCOUNTANTS: Barter Durgan
Chartered Accountants
10 Victoria Road South
Southsea
Hampshire
PO5 2DA

Proteus Ltd (Registered number: 10398283)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,545 26,030
Investments 5 200 300,200
21,745 326,230

CURRENT ASSETS
Debtors 6 351,814 298,887
Cash at bank 372,395 240,882
724,209 539,769
CREDITORS
Amounts falling due within one year 7 897,294 798,114
NET CURRENT LIABILITIES (173,085 ) (258,345 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(151,340

)

67,885

CREDITORS
Amounts falling due after more than one year 8 20,036 24,824
NET (LIABILITIES)/ASSETS (171,376 ) 43,061

CAPITAL AND RESERVES
Called up share capital 105 105
Retained earnings (171,481 ) 42,956
SHAREHOLDERS' FUNDS (171,376 ) 43,061

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

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

Proteus Ltd (Registered number: 10398283)

Balance Sheet - continued
30 September 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 16 June 2025 and were signed on its behalf by:





J P Cooper - Director


Proteus Ltd (Registered number: 10398283)

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

1. STATUTORY INFORMATION

Proteus Ltd 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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

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.

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 16 (2023 - 15 ) .

Proteus Ltd (Registered number: 10398283)

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

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2023 37,870 2,079 39,949
Additions - 3,117 3,117
At 30 September 2024 37,870 5,196 43,066
DEPRECIATION
At 1 October 2023 13,631 288 13,919
Charge for year 6,059 1,543 7,602
At 30 September 2024 19,690 1,831 21,521
NET BOOK VALUE
At 30 September 2024 18,180 3,365 21,545
At 30 September 2023 24,239 1,791 26,030

5. FIXED ASSET INVESTMENTS

2024 2023
£    £   
Shares in group undertakings 200 200
Other loans - 300,000
200 300,200

Additional information is as follows:
Shares in
group
undertaking
£   
COST
At 1 October 2023
and 30 September 2024 200
NET BOOK VALUE
At 30 September 2024 200
At 30 September 2023 200
Other
loans
£   
At 1 October 2023 300,000
Repayment in year (300,000 )
At 30 September 2024 -

Proteus Ltd (Registered number: 10398283)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 293,237 273,610
Due from related company 58,577 25,277
351,814 298,887

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 285,528 200,437
Hire purchase contracts 6,053 6,053
Trade creditors - (2 )
Taxation - 20,415
Social security and other taxes 9,168 7,009
VAT 25,964 28,038
Due to related company 532,672 446,244
Loan 34,909 40,603
Accrued expenses 3,000 49,317
897,294 798,114

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 20,036 24,824