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REGISTERED NUMBER: 05408392 (England and Wales)












AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PROTRADE LTD

PROTRADE LTD (REGISTERED NUMBER: 05408392)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PROTRADE LTD

COMPANY INFORMATION
for the year ended 31 December 2024







DIRECTORS: C K Sanders
D Duddy
M J Bradshaw





SECRETARY: M J Bradshaw





REGISTERED OFFICE: Sidney Robinson Business Park
Ascot Drive
Derby
DE24 8EH





REGISTERED NUMBER: 05408392 (England and Wales)





AUDITORS: Magma Audit LLP (part of the Dains Group)
Chartered Accountants
Statutory Auditor
Unit 2, Charnwood Edge Business Park
Syston Road
Leicestershire
LE7 4UZ

PROTRADE LTD (REGISTERED NUMBER: 05408392)

BALANCE SHEET
31 December 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 21,905 32,642
Investments 5 - -
21,905 32,642

CURRENT ASSETS
Debtors 6 5,285,914 4,685,062
Cash at bank 2,820 7,170
5,288,734 4,692,232
CREDITORS
Amounts falling due within one year 7 (197,485 ) (55,026 )
NET CURRENT ASSETS 5,091,249 4,637,206
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,113,154

4,669,848

PROVISIONS FOR LIABILITIES (5,500 ) (8,200 )
NET ASSETS 5,107,654 4,661,648

CAPITAL AND RESERVES
Called up share capital 3,773 3,773
Retained earnings 5,103,881 4,657,875
5,107,654 4,661,648

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 comprehensive income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 June 2025 and were signed on its behalf by:





M J Bradshaw - Director


PROTRADE LTD (REGISTERED NUMBER: 05408392)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2024


1. STATUTORY INFORMATION

Protrade Ltd is a limited company, 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.

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 £.

Going concern
At 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. The directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, valued added tax and other sales taxes.

Revenue is recognised in the period in which the goods are dispatched.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following basis:

Plant and machinery15% straight line
Fixtures, fittings and equipment15%-20% straight line

The asset's residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Investments in subsidiaries
Interest in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in the profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

PROTRADE LTD (REGISTERED NUMBER: 05408392)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

(i) 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 using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

(ii) Financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, 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 receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.


PROTRADE LTD (REGISTERED NUMBER: 05408392)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024


2. ACCOUNTING POLICIES - continued
Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 22 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 January 2024 51,881 81,499 133,380
Additions 2,736 - 2,736
Disposals (8,640 ) - (8,640 )
Group transfer (760 ) - (760 )
At 31 December 2024 45,217 81,499 126,716
DEPRECIATION
At 1 January 2024 35,314 65,424 100,738
Charge for year 4,399 7,636 12,035
Eliminated on disposal (7,544 ) - (7,544 )
Group transfer (418 ) - (418 )
At 31 December 2024 31,751 73,060 104,811
NET BOOK VALUE
At 31 December 2024 13,466 8,439 21,905
At 31 December 2023 16,567 16,075 32,642

PROTRADE LTD (REGISTERED NUMBER: 05408392)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2024
and 31 December 2024 2,773
PROVISIONS
At 1 January 2024
and 31 December 2024 2,773
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,120,062 1,133,940
Amounts owed by group undertakings 4,165,852 3,471,187
Tax - 79,935
5,285,914 4,685,062

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 25,136 20,148
Tax 152,408 -
Social security and other taxes 10,768 10,933
Other creditors 9,173 23,945
197,485 55,026

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 52,735 54,094
Between one and five years 68,110 127,172
120,845 181,266

9. SECURED DEBTS

The bank borrowings in D.I.P.T. Limited are secured by a debenture and cross guarantees between D.I.P.T. Limited, Metal Fabrication Supplies Limited and Protrade Limited.

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Orton FCA FCCA (Senior Statutory Auditor)
for and on behalf of Magma Audit LLP (part of the Dains Group)

PROTRADE LTD (REGISTERED NUMBER: 05408392)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024


11. RELATED PARTY DISCLOSURES

No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102, section 1AC.35.

12. ULTIMATE CONTROLLING PARTY

The directors consider that the ultimate parent undertaking is Project Greenline Limited, a Company registered in England and Wales. The registered office is Sidney Robinson Business Park, Ascot Drive, Derby, DE24 8EH.

The parent company preparing consolidated accounts for the smallest group of which the Company is a member is D.I.P.T. Limited. Group accounts can be obtained from Sidney Robinson Business Park, Ascot Drive, Derby, DE24 8EH.