REGISTERED NUMBER: 09121726 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

PROKLASS PRODUCTS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

N F Wastling

REGISTERED OFFICE:

The Gables

2 Morris Close

Buckden

St Neots

Cambridgeshire

PE19 5YW

REGISTERED NUMBER:

09121726 (England and Wales)

ACCOUNTANTS:

TC CH Limited

4 Office Village

Forder Way

Cygnet Park, Hampton

Peterborough

Cambridgeshire

PE7 8GX

FIXED ASSETS

Tangible assets

4

26,306

44,794

CURRENT ASSETS

Stocks

18,845

43,252

Debtors

5

571,681

419,761

Cash at bank

1,903

5,552

592,429

468,565

CREDITORS

Amounts falling due within one year

6

395,775

181,026

NET CURRENT ASSETS

196,654

287,539

TOTAL ASSETS LESS CURRENT LIABILITIES

222,960

332,333

CREDITORS

Amounts falling due after more than one year

7

50,842

73,052

NET ASSETS

172,118

259,281

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

172,018

259,181

SHAREHOLDERS' FUNDS

172,118

259,281

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 September 2025 and were signed by:

N F Wastling - Director

1.	STATUTORY INFORMATION

Proklass Products 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.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

No significant judgements (apart from those involving estimations) have been made by management in the process of applying the entity's accounting policies and preparing these financial statements.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There have been no key assumptions or there sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

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 the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost and 25% on cost

At each balance sheet date assets not carried at fair value are assessed to determine whether there is an indication that the asset may be impaired. If there is such an indication the recoverable amount of the asset is compared to the carrying amount of the asset.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost.

Financial liabilities - trade creditors, accruals and other creditors and basic financial instruments and are measured at amortised cost. Taxation and social security and not included in the financial instruments disclosure definition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Debtors

Short term debtors are initially measured at transaction price less attributable costs and then subsequently measured at amortised costs using EIR. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term trade creditors are initially measured at transaction price less attributable costs. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

98,946

Disposals

(31,512

)

At 31 December 2024

67,434

DEPRECIATION

At 1 January 2024

54,152

Charge for year

17,004

Eliminated on disposal

(30,028

)

At 31 December 2024

41,128

NET BOOK VALUE

At 31 December 2024

26,306

At 31 December 2023

44,794

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2024

95,074

Disposals

(29,376

)

At 31 December 2024

65,698

DEPRECIATION

At 1 January 2024

52,552

Charge for year

16,425

Eliminated on disposal

(29,376

)

At 31 December 2024

39,601

NET BOOK VALUE

At 31 December 2024

26,097

At 31 December 2023

42,522

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

122,266

51,236

Amounts owed by group undertakings

353,317

310,917

Other debtors

96,098

57,608

571,681

419,761

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

6,315

6,311

Hire purchase contracts

14,253

17,794

Trade creditors

133,986

5,675

Amounts owed to group undertakings

91,508

139,970

Taxation and social security

-

2,607

Other creditors

149,713

8,669

395,775

181,026

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

27,053

31,641

Hire purchase contracts

23,789

41,411

50,842

73,052

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

38,042

59,205

Ultimate Finance Ltd

117,370

7,200

155,412

66,405

An all assets debenture dated 2019 is held by Ultimate Finance Limited over all the company's present and future freehold and leasehold land, intellectual property and aircraft and includes a fixed and floating charge over all the property or undertakings of the company.

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

During the year, total dividends of £60,500 (2023 - £38,600) were paid to the director .

Included in creditors is an amount owed to the director, Mr N Wastling, of £37 (2023: £69). This loan is

interest free and repayable on demand.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is N Wastling by virtue of his ownership of the issued ordinary share capital.