Proskill Engineering Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Proskill Engineering Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12720003 . The registered office is May Cottage Ashfield Road, Norton, Bury St Edmunds, Suffolk, IP31 3NF.

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.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 0 years.

2.4. Intangible Fixed Assets and Amortisation - Intellectual Property

Intellectual property assets are patents and licences. It is amortised to the profit and loss account over its estimated economic life of 0 years.

2.5. 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	5 years on cost
Motor Vehicles	25% reducing balance
Fixtures & Fittings	4 years on cost
Computer Equipment	3 years on cost

2.6. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.7. 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.

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Proskill Engineering Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

2.8. Financial Instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset and the net amounts presented in the financial statements where 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.

Basic 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 asreceivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. If there is a decrease in the impairment loss arising from an

event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Classification of financial liabilities

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.

2.9. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.10. Taxation

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

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.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

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Proskill Engineering Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

2.11. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 33 (2024: 35)

4. Intangible Assets

	Goodwill	Intellectual Property	Total
	£	£	£
Cost
As at 1 October 2024	3	5,000	5,003

As at 30 September 2025	3	5,000	5,003

Amortisation
As at 1 October 2024	3	5,000	5,003

As at 30 September 2025	3	5,000	5,003

Net Book Value
As at 30 September 2025	-	-	-

As at 1 October 2024	-	-	-

5. Tangible Assets

	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 October 2024	128,846	3,639	97	132,582
Additions	14,000	-	-	14,000

As at 30 September 2025	142,846	3,639	97	146,582

Depreciation
As at 1 October 2024	89,696	3,639	97	93,432
Provided during the period	23,043	-	-	23,043

As at 30 September 2025	112,739	3,639	97	116,475

Net Book Value
As at 30 September 2025	30,107	-	-	30,107

As at 1 October 2024	39,150	-	-	39,150

6. Stocks

	2025	2024
	£	£
Stock	498,033	603,925

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Proskill Engineering Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2025

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	526	1,757
Amounts owed by participating interests	121,661	393,456
Other debtors	302,289	332,989

	424,476	728,202
Due after more than one year
Other debtors	101,018	101,018

	525,494	829,220

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	122,479	96,828
Other creditors	106,167	106,568
Taxation and social security	155,793	378,328

	384,439	581,724

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	200	200

11. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	20,000	20,000
Later than one year and not later than five years	35,000	55,000

	55,000	75,000

12. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 October 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 30 September 2025
	£	£	£	£	£
Mr Niall Dyer	299,312	17,611	(50,520 )	-	266,403

The above loan is unsecured and repayable on demand. Interest has been charged at the HMRC approved rates.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		30,107		39,150

			30,107		39,150
CURRENT ASSETS
Stocks	6	498,033		603,925
Debtors	7	525,494		829,220
Cash at bank and in hand		168,091		189,805

		1,191,618		1,622,950
Creditors: Amounts Falling Due Within One Year	8	(384,439 )		(581,724 )

NET CURRENT ASSETS (LIABILITIES)			807,179		1,041,226

TOTAL ASSETS LESS CURRENT LIABILITIES			837,286		1,080,376

NET ASSETS			837,286		1,080,376

CAPITAL AND RESERVES
Called up share capital	10		200		200
Profit and Loss Account			837,086		1,080,176

SHAREHOLDERS' FUNDS			837,286		1,080,376