Protime Clocks Limited Filleted accounts for Companies House (small and micro)

Protime Clocks Limited

Unaudited financial statements

31 December 2024

Company Registration Number 03716628

Protime Clocks Limited

Financial statements

year ended 31 December 2024

Contents	Pages

Balance sheet	1 to 2

Notes to the financial statements	3 to 6

Protime Clocks Limited

Balance sheet

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5		252,318	247,696

Current assets

Debtors	6	3,184	3,767
Investments	7	579,793	487,850
Cash at bank and in hand		3,070	1,625
		---------	---------
		586,047	493,242

Creditors: amounts falling due within one year	8	274,869		244,211
		---------		---------
Net current assets			311,178	249,031
			---------	---------
Total assets less current liabilities			563,496	496,727

Creditors: amounts falling due after more than one year	9	120,000	120,000
		---------	---------
Net assets		443,496	376,727
		---------	---------

Capital and reserves

Called up share capital	165,100	165,100
Profit and loss account	278,396	211,627
	---------	---------
Shareholders funds	443,496	376,727
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

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

Directors' responsibilities:

- 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 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Protime Clocks Limited

Balance sheet (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 29 September 2025 , and are signed on behalf of the board by:

Mrs B Cheslyn-Curtis	Mr G Cheslyn-Curtis
Director	Director

Company registration number: 03716628

Protime Clocks Limited

Notes to the financial statements

year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England. The address of the registered office is Lake View, Whinleys Road, Clarborough, Retford, Notts, DN22 9ND.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	2% straight line
Plant and machinery	-	15% reducing balance
Office equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

4. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2023: Nil).

5. Tangible assets

Land and buildings	Plant and machinery	Equipment	Total
£	£	£	£

Cost
At 1 January 2024	327,067	27,056	24,386	378,509
Additions	9,315	2,502	1,009	12,826
	---------	--------	--------	---------
At 31 December 2024	336,382	29,558	25,395	391,335
	---------	--------	--------	---------
Depreciation
At 1 January 2024	85,697	23,343	21,773	130,813
Charge for the year	6,728	932	544	8,204
	---------	--------	--------	---------
At 31 December 2024	92,425	24,275	22,317	139,017
	---------	--------	--------	---------
Carrying amount
At 31 December 2024	243,957	5,283	3,078	252,318
	---------	--------	--------	---------
At 31 December 2023	241,370	3,713	2,613	247,696
	---------	--------	--------	---------

6. Debtors

	2024	2023
	£	£

Trade debtors	2,883	2,383
Other debtors	301	1,384
	-------	-------
	3,184	3,767
	-------	-------

7. Investments

	2024	2023
	£	£

Other investments	579,793	487,850
	---------	---------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£

Trade creditors	8,262	7,227
Corporation tax	17,545	941
Social security and other taxes	846	424
Other creditors	248,216	235,619
	---------	---------
	274,869	244,211
	---------	---------

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

	2024	2023
	£	£

Bank loans and overdrafts	120,000	120,000
	---------	---------

10. Related party transactions

The company was under the control of Mr G Cheslyn-Curtis throughout the current and previous year. Mr G Cheslyn-Curtis is the managing director and majority shareholder.