Protool Engineering Supplies Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—4

Registered number: SC615671

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		1,882		2,560

			1,882		2,560
CURRENT ASSETS
Stocks	5	19,414		20,158
Debtors	6	63,568		43,689
Cash at bank and in hand		137,473		124,399

		220,455		188,246
Creditors: Amounts Falling Due Within One Year	7	(99,545 )		(80,231 )

NET CURRENT ASSETS (LIABILITIES)			120,910		108,015

TOTAL ASSETS LESS CURRENT LIABILITIES			122,792		110,575

NET ASSETS			122,792		110,575

CAPITAL AND RESERVES
Called up share capital	8		100		100
Profit and Loss Account			122,692		110,475

SHAREHOLDERS' FUNDS			122,792		110,575

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Protool Engineering Supplies Ltd

Balance Sheet (continued)

As At 31 December 2024

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.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Lindsay Lovell

Director

29/08/2025

The notes on pages 3 to 4 form part of these financial statements.

1. General Information

Protool Engineering Supplies Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC615671 . The registered office is Block 20, Unit 2, Ridge Way, Dalgety Bay, Fife, KY11 9JN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	20% Reducing balance
Motor Vehicles	25% Reducing balance

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 4 (2023: 3)

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Protool Engineering Supplies Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Tangible Assets

	Plant & Machinery	Motor Vehicles	Total
	£	£	£
Cost
As at 1 January 2024	829	4,000	4,829

As at 31 December 2024	829	4,000	4,829

Depreciation
As at 1 January 2024	519	1,750	2,269
Provided during the period	115	563	678

As at 31 December 2024	634	2,313	2,947

Net Book Value
As at 31 December 2024	195	1,687	1,882

As at 1 January 2024	310	2,250	2,560

5. Stocks

	2024	2023
	£	£
Finished goods	19,414	20,158

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	63,568	43,689

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	60,950	42,687
Corporation tax	12,962	15,253
Other taxes and social security	1,783	557
VAT	20,902	18,506
Other creditors	730	350
Accruals and deferred income	2,025	2,164
Director's loan account	193	714

	99,545	80,231

8. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

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