Company No: 12126194 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	74,050		40,092
		74,050		40,092
Current assets
Stocks	4	3,500		5,000
Debtors	5	66,444		48,495
Cash at bank and in hand		4,654		9,462
		74,598		62,957
Creditors: amounts falling due within one year	6	( 69,749)		( 56,960)
Net current assets		4,849		5,997
Total assets less current liabilities		78,899		46,089
Creditors: amounts falling due after more than one year	7	( 53,120)		( 12,791)
Net assets		25,779		33,298
Capital and reserves
Called-up share capital	8	1		1
Profit and loss account		25,778		33,297
Total shareholder's funds		25,779		33,298

For the financial year ending 31 July 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Protectology Ltd (registered number: 12126194) were approved and authorised for issue by the Board of Directors on 03 September 2025. They were signed on its behalf by:

P Fairhurst Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Protectology Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 5 Passage Street, Fowey, PL23 1DE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Revenue from services is recognised as they are delivered.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery	20 % reducing balance
Office equipment	20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Government grants

Government grants are recognised based on the performance model.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	0		0

3. Tangible assets

	Plant and machinery		Office equipment		Total
	£		£		£
Cost
At 01 August 2023	40,462		2,416		42,878
Additions	40,668		170		40,838
At 31 July 2024	81,130		2,586		83,716
Accumulated depreciation
At 01 August 2023	2,023		763		2,786
Charge for the financial year	6,527		353		6,880
At 31 July 2024	8,550		1,116		9,666
Net book value
At 31 July 2024	72,580		1,470		74,050
At 31 July 2023	38,439		1,653		40,092

4. Stocks

	2024		2023
	£		£
Stocks	3,500		5,000

5. Debtors

	2024		2023
	£		£
Trade debtors	30,542		29,697
Other debtors	35,902		18,798
	66,444		48,495

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	14,256		7,000
Trade creditors	3,437		4,056
Other taxation and social security	0		3,945
Obligations under finance leases and hire purchase contracts (secured)	6,206		0
Other creditors	45,850		41,959
	69,749		56,960

7. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	6,083		12,791
Obligations under finance leases and hire purchase contracts (secured)	47,037		0
	53,120		12,791

8. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
1 Ordinary share share of £ 1.00	1		1

9. Related party transactions

Transactions with the entity's directors

	2024		2023
	£		£
Paul Fairhurst	0		0
Due by the director at the start of the year	(18,680)		(33,084)
Advances to the director	33,065		64,378
Repayments by the director	(30,063)		(12,614)
Due by the director at the end of the year	21,682		18,680