Company registration number 09936967 (England and Wales)
PROTECTED SHIELD LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
PROTECTED SHIELD LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
PROTECTED SHIELD LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PROTECTED SHIELD LIMITED FOR THE YEAR ENDED 31 JANUARY 2025
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Protected Shield Limited for the year ended 31 January 2025 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Protected Shield Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Protected Shield Limited and state those matters that we have agreed to state to the board of directors of Protected Shield Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Protected Shield Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Protected Shield Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Protected Shield Limited. You consider that Protected Shield Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Protected Shield Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Carpenter Box
11 July 2025
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
PROTECTED SHIELD LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2025
31 January 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment property
3
12,110,000
10,680,000
Current assets
Debtors
4
650,133
Cash at bank and in hand
71,894
16,783
722,027
16,783
Creditors: amounts falling due within one year
5
(470,223)
(780,842)
Net current assets/(liabilities)
251,804
(764,059)
Total assets less current liabilities
12,361,804
9,915,941
Creditors: amounts falling due after more than one year
6
(5,213,629)
(3,575,853)
Provisions for liabilities
(902,684)
(788,498)
Net assets
6,245,491
5,551,590
Capital and reserves
Called up share capital
7
3,118,334
2,946,538
Share premium account
271,019
92,815
Profit and loss reserves
2,856,138
2,512,237
Total equity
6,245,491
5,551,590
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
PROTECTED SHIELD LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2025
31 January 2025
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The financial statements were approved by the board of directors and authorised for issue on 11 July 2025 and are signed on its behalf by:
Mr O D Olatunji
Mrs O A Olatunji
Director
Director
Company registration number 09936967 (England and Wales)
PROTECTED SHIELD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 4 -
1
Accounting policies
Company information
Protected Shield Limited is a private company limited by shares incorporated in England and Wales. The registered office is Amelia House, Crescent Road, Worthing, West Sussex, BN11 1QR.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover represents amounts receivable for rents, on a time apportioned basis, from investment properties.
1.4
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.5
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
PROTECTED SHIELD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 5 -
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
2
Employees
The average monthly number of persons employed by the company during the year was 1 (2024 - 1).
3
Investment property
2025
£
Fair value
At 1 February 2024
10,680,000
Additions
973,256
Revaluations
456,744
At 31 January 2025
12,110,000
The fair value of the investment property has been arrived at on the basis of a valuation carried out by the company director on 31 January 2025. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The historical cost of the properties totalled £8,499,262.
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
650,133
PROTECTED SHIELD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 6 -
5
Creditors: amounts falling due within one year
2025
2024
£
£
Taxation and social security
1,194
1,049
Other creditors
469,029
779,793
470,223
780,842
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
5,213,629
3,575,853
The bank loans included in note 6 are secured over the company's underlying assets.
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
3,118,334
2,946,538
3,118,334
2,946,538
On 23 February 2024, the company issued 171,796 £1 ordinary shares for a total consideration of £350,000.
8
Non-distributable profits reserve
2025
2024
£
£
At the beginning of the year
2,365,496
2,019,331
Non distributable profits in the year
342,558
346,165
At the end of the year
2,708,054
2,365,496