Protec International Limited 31/12/2025 iXBRL

Company registration number: 03686287

Protec International Limited

Financial statements

31 December 2025

Protec International Limited

Contents

Directors and other information

Strategic report

Directors report

Independent auditor's report to the members

Statement of comprehensive income

Statement of financial position

Statement of changes in equity

Statement of cash flows

Notes to the financial statements

Protec International Limited

Directors and other information


	Directors	Mr J D Harrison
		Mr S Cox
		Ms I K Harrison


	Secretary	C Harrison


	Company number	03686287


	Registered office	45-49 Greek Street
		Stockport
		SK3 8AX


	Business address	Construction House
		Adlington Business Park
		Adlington
		Macclesfield
		SK10 4NL


	Auditor	Downham Morris & Co
		45-49 Greek Street
		Stockport
		SK3 8AX




	Bankers	National Westminster Bank Plc
		Western Avenue
		Chatham Maritime
		Kent
		ME4 4RT

Protec International Limited

Strategic report

Year ended 31 December 2025

Review of the business

The directors present their strategic report for the year ended 31 December 2025.

Principal activities

The principal activity of the company during the year is the distribution of protection materials to the construction industry.

Results and performance

During the year, the company performed well in a competitive and volatile environment. Industries worldwide face unprecedented challenges including, but not limited to, rising inflation and interest rate increases as well as soaring power costs. In spite of turbulent economic events, the company saw a significant increase in operational activities: turnover rose by 12.4% to £32,462,980 (2024: £28,872,741) and consequently achieved a gross profit for the year of £8,539,444 (2024: £7,333,648) and an operating profit of £3,547,109 (2024: £2,964,664).

The company has maintained an acceptable level of profitability and this is a testament to the strength of the management and staff team.

The company will continue to focus on maintaining strong relationships with its core customer base.

Final dividends of £7,770,000 (2024: £200,000) were declared.

The directors are satisfied with performance levels achieved in the 2025 financial year and look forward to continued controlled growth for 2026.

Going concern

The company continues to expand trading levels in the face of adverse pressures affecting the UK economy, not least inflationary pressures and increases in interest rates, power and utility costs.

The company has considerable financial resources together with a number of customers and suppliers across different geographical areas and industries. The directors consider that the company has sufficient liquid reserves and a significant unencumbered asset base which may be utilised for funding to remain solvent during future periods of turbulence and, as a consequence, believe the company is well placed to manage its business risks successfully despite the uncertain economic outlook.

The directors' assessment of going concern is based on the latest available financial and non-financial information and government guidance. Stress testing has been conducted and considered, taking into account any potential business disruptions and impact on revenue that may occur from future economic uncertainty.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the annual report and accounts.

Key performance indicators

The directors consider the key performance indicators of the company to be measured by both turnover and profit levels as described above.

The directors monitor sales orders and associated expenditure on a regular basis as well as produce monthly management accounts for analysis of performance ratios.

The directors do not believe that there are any non-financial key performance indicators that are relevant.

Research and development

Research and development is concentrated on the improvement of warehousing and production workflows.

Principal risks and uncertainties

The risks facing the company are assessed on an ongoing basis by the directors. They evaluate the likelihood and potential impact of each risk and ensure appropriate action is taken to mitigate them.

Health and safety

The company is committed to achieving the highest practicable standards in both health and safety management for all operations and is committed to promoting the well-being of its employees. The directors implement regular health and safety reviews to comply with legislative requirements and maintain safe and healthy working conditions to achieve continued compliance and improvements.

Human resources

The company's most important resource is its staff and retention of key staff is critical though not a risk; their knowledge and experience is crucial to meeting customer requirements and the company continues to invest in staff training and development in this regard. The company has established practices to ensure that employees are consulted on a regular basis on matters relevant to them.

Financial risk

The risks facing the company are assessed on an ongoing basis by the directors who evaluate the likelihood and potential impact of each risk, whether it be interest rate risk, liquidity risk or foreign currency risk, and ensure appropriate action is taken to mitigate them. The company has no significant concentration of credit risk with exposure spread over a large number of customers.

Foreign currency and interest rate risk

The company is exposed to the risk that currency exchange rates relative to the English Pound Sterling may change in a manner which has a material effect on the reported values of its assets and liabilities. The company is mainly exposed to the United States Dollar and the Euro and manages this risk with the use of forward exchange contracts.

The company manages interest rate risk by negotiating its banking facility rates on a regular basis.

Credit risk

The company monitors credit risk closely and implements a robust policy of credit checks prior to establishing trading terms with new customers and to meet its objectives of managing exposure to credit risk. Similarly for established customers, an ongoing monitoring policy is in place to enable the group to spot potential warning signs and act promptly to limit the company's exposure to bad debt.

Liquidity risk

The company manages liquidity risk by ensuring that its day-to-day working capital requirements are met via the availability of sufficient liquid funds to accommodate the requirements of the company's functions.

Fraud

The company takes a robust stance against potential fraud and dishonest behaviour and the framework for this is reviewed regularly by the directors.

This report was approved by the board of directors on 12 August 2026 and signed on behalf of the board by:

.........................

Mr J D Harrison

Director

Protec International Limited

Directors report

Year ended 31 December 2025

The directors present their report and the financial statements of the company for the year ended 31 December 2025.

Incorporation

Protec International Limited is a company incorporated and domiciled in England and holds its registered office at 45-49 Greek Street, Stockport, SK3 8AX and its principal place of business at Construction House, Adlington Business Park, Adlington, Macclesfield, SK10 4NL.

Directors

The directors who served the company during the year were as follows:

Mr J D Harrison

Mr S Cox

Ms I K Harrison

Dividends

Particulars of recommended dividends are detailed in note 13 to the financial statements.

Future developments

The company continues its commitment to the environment via investment as well as maximising operational efficiencies and the directors look forward to the forthcoming financial year with a continuing level of confidence.

Financial instruments

Financial instruments that are debt instruments measured at amortised cost comprise of trade debtors, intercompany loans and cash at bank and in hand.

Financial liabilities measured at amortised cost consist of trade creditors, obligations under finance leases, intercompany loans, directors' loans and share capital.

The main risks arising from these financial instruments are credit risk, interest rate risk and liquidity risk. The risks facing the company are assessed on an ongoing basis by the directors and appropriate timely action taken to mitigate them.

Disclosure of information in the strategic report.

The company's business activities together with factors likely to affect its future development, financial position, financial risk management objectives and exposures to risk are described in the strategic report on pages 2 - 3. The company has disclosed an indication of its activities in the field of research and development and this can be found in the strategic report. The directors' assessment of going concern can be found in the strategic report.

Directors responsibilities statement

The directors are responsible for preparing the strategic report, directors report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgments and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.

The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

This report was approved by the board of directors on 12 August 2026 and signed on behalf of the board by:

.........................

Mr J D Harrison

Director

Protec International Limited

Independent auditor's report to the members of

Protec International Limited

Year ended 31 December 2025

Opinion

We have audited the financial statements of Protec International Limited (the 'company') for the year ended 31 December 2025 which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity, statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: - give a true and fair view of the state of the company's affairs as at 31 December 2025 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our .

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and the returns; or - certain disclosures of directors' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Extent to which the audit was considered capable of detecting irregularities, including fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Based on our understanding and accumulated knowledge of the company and the sector in which it operates we considered the risk of acts by the company which were contrary to applicable laws and regulations, including fraud and whether such actions or non-compliance might have a material effect on the financial statements. These included but were not limited to those that relate to the form and content of the financial statements, such as the company accounting policies, the financial reporting framework and the UK Companies Act 2006. All team members were briefed to ensure they were aware of any relevant regulations in relation to their work.We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries and management bias in accounting estimates as well as inappropriate revenue cut-off. Our audit procedures included, but were not limited to:- Agreement of the financial statement disclosures to underlying supporting documentation;- Identifying and testing journal entries, with a focus on journals indicating large or unusual transactions based on our understanding of the business;- Discussions with management, including consideration of known or suspected instances of non- compliance with laws and regulation and fraud; - Obtaining an understanding of the control environment in monitoring compliance with laws and regulationsOur audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.A further description of our responsibilities is available on the Financial Reporting Council's website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. we also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditors report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

.........................

Ian Gwynfor Morris FCCA (Senior Statutory Auditor)

For and on behalf of

Downham Morris & Co

Statutory Auditor

45-49 Greek Street

Stockport

SK3 8AX

12 August 2026

Protec International Limited

Statement of comprehensive income

Year ended 31 December 2025

		2025	2024
	Note	£	£


Turnover	5	32,462,980	28,872,741
Cost of sales		( 23,923,536)	( 21,539,093)
		_______	_______
Gross profit		8,539,444	7,333,648

Administrative expenses		( 4,992,335)	( 4,368,984)
		_______	_______
Operating profit	6	3,547,109	2,964,664

Income from shares in group undertakings	9	-	156,884
Other interest receivable and similar income	10	54,772	82,428
Interest payable and similar expenses	11	( 80,983)	( 259,386)
		_______	_______
Profit before taxation		3,520,898	2,944,590

Tax on profit	12	( 551,511)	( 733,080)
		_______	_______
Profit for the financial year		2,969,387	2,211,510
		_______	_______
Revaluation of tangible assets		3,708,675	-
		_______	_______
Total comprehensive income for the year		6,678,062	2,211,510
		_______	_______

All the activities of the company are from continuing operations.

Protec International Limited

Statement of financial position

31 December 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Intangible assets	14	18,420		-
Tangible assets	15	1,024,140		7,755,143
Investments	16	101		101
		_______		_______
			1,042,661		7,755,244

Current assets
Stocks	17	4,320,157		3,780,935
Debtors	18	8,959,067		7,774,150
Cash at bank and in hand		3,689,116		2,000,693
		_______		_______
		16,968,340		13,555,778
Creditors: amounts falling due
within one year	19	( 4,632,603)		( 3,873,242)
		_______		_______
Net current assets			12,335,737		9,682,536
			_______		_______
Total assets less current liabilities			13,378,398		17,437,780

Creditors: amounts falling due
after more than one year	20		( 144,927)		( 3,148,797)

Provisions for liabilities	22		( 209,121)		( 172,695)

			_______		_______
Net assets			13,024,350		14,116,288
			_______		_______

Capital and reserves
Called up share capital	25		440,528		440,528
Share premium account	26		308,768		308,768
Capital redemption reserve	26		46,500		46,500
Profit and loss account	26		12,228,554		13,320,492
			_______		_______
Shareholders funds			13,024,350		14,116,288
			_______		_______

These financial statements were approved by the board of directors and authorised for issue on 12 August 2026 , and are signed on behalf of the board by:



.........................
Mr J D Harrison
Director

Protec International Limited

Statement of changes in equity

Year ended 31 December 2025

	Called up share capital	Share premium account	Capital redemption reserve	Profit and loss account	Total
	£	£	£	£	£


At 1 January 2024	440,528	308,768	46,500	11,308,982	12,104,778

Profit for the year				2,211,510	2,211,510
	_______	_______	_______	_______	_______
Total comprehensive income for the year	-	-	-	2,211,510	2,211,510

Dividends paid and payable				( 200,000)	( 200,000)
	_______	_______	_______	_______	_______
Total investments by and distributions to owners	-	-	-	( 200,000)	( 200,000)

	_______	_______	_______	_______	_______
At 31 December 2024 and 1 January 2025	440,528	308,768	46,500	13,320,492	14,116,288

Profit for the year				2,969,387	2,969,387
Other comprehensive income for the year:
Revaluation of tangible assets					3,708,675
Reclassification from revaluation reserve to profit and loss account				3,708,675	-
	_______	_______	_______	_______	_______
Total comprehensive income for the year	-	-	-	6,678,062	6,678,062

Dividends paid and payable				( 7,770,000)	( 7,770,000)
	_______	_______	_______	_______	_______
Total investments by and distributions to owners	-	-	-	( 7,770,000)	( 7,770,000)

	_______	_______	_______	_______	_______
At 31 December 2025	440,528	308,768	46,500	12,228,554	13,024,350
	_______	_______	_______	_______	_______

Protec International Limited

Statement of cash flows

Year ended 31 December 2025

	2025	2024
	£	£

Cash flows from operating activities
Profit for the financial year	2,969,387	2,211,510

Adjustments for:
Depreciation of tangible assets	209,414	292,549
Amortisation of intangible assets	6,140	-
Income from shares in group undertakings	-	( 156,884)
Other interest receivable and similar income	( 54,772)	( 82,428)
Interest payable and similar expenses	80,983	259,386
(Gain)/loss on disposal of tangible assets	-	18,752
Tax on profit	551,511	733,080
Accrued expenses/(income)	126,037	54,147

Changes in:
Stocks	( 539,222)	42,003
Trade and other debtors	( 1,184,917)	( 870,857)
Trade and other creditors	( 73,258)	( 438,251)
	_______	_______
Cash generated from operations	2,091,303	2,063,007

Interest paid	( 80,983)	( 259,386)
Interest received	54,772	82,428
Tax paid	( 515,085)	( 701,564)
	_______	_______
Net cash from operating activities	1,550,007	1,184,485
	_______	_______
Cash flows from investing activities
Purchase of tangible assets	( 613,424)	( 1,254,234)
Proceeds from sale of tangible assets	10,843,688	-
Purchase of intangible assets	( 24,560)	-
Dividends received	-	156,884
	_______	_______
Net cash from/(used in) investing activities	10,205,704	( 1,097,350)
	_______	_______
Cash flows from financing activities
Proceeds from borrowings	( 3,662,518)	( 504,131)
Proceeds from loans from group undertakings	1,317,491	506,126
Payment of finance lease liabilities	47,739	( 5,944)
Equity dividends paid	( 7,770,000)	( 200,000)
	_______	_______
Net cash used in financing activities	( 10,067,288)	( 203,949)
	_______	_______

Net increase/(decrease) in cash and cash equivalents	1,688,423	( 116,814)
Cash and cash equivalents at beginning of year	2,000,693	2,117,507
	_______	_______
Cash and cash equivalents at end of year	3,689,116	2,000,693
	_______	_______

Protec International Limited

Notes to the financial statements

Year ended 31 December 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 45-49 Greek Street, Stockport, SK3 8AX.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and 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.

Consolidation

The company has taken advantage of the exemption from preparing consolidated financial statements contained in Section 400 of the Companies Act 2006 on the basis that it is a subsidiary undertaking and its immediate parent undertaking is established under the law of any part of the United Kingdom.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Interest income is recognised as interest accrues using the effective interest method.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:


Software development costs	-	25% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Research and development

Research expenditure is written off in the year in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.

Tangible assets

tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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:


Plant and machinery	-	15% reducing balance and 5-10 years straight line
Fittings fixtures and equipment	-	15% reducing balance and 10 years straight line
Motor vehicles	-	25% reducing balance
Computer equipment	-	33.3% straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment

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. 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 are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Hire purchase and finance leases

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other operating expenses.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Critical accounting policies

In the application of the company's accounting policies, which are described in note 3, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Critical judgements in applying the company's accounting policies

The directors do not consider that the amounts recognised in the current or prior financial period's financial statements have been significantly affected by any critical judgements made in the process of applying the company's accounting policies.

Key sources of estimation uncertainty

Provision against bad and doubtful debts receivable

Customer and other debtors are reviewed on a line-by-line basis at each financial period end. Provision against bad debts, which is netted against the debtors to which it relates, is made when notification is received from the administrators. Prior to this point, the risk of doubtful debts is mitigated through regular credit reviews. As at the year end, the directors have no material concerns over the recoverability of the company's debtors.

Provision against slow-moving, obsolete or irrecoverable stock

Stock is reviewed on an ongoing basis and a provision made where the directors are of the opinion that specific raw materials and goods for resale may be irrecoverable. As at the year end, the directors have no material concerns over the recoverability of the company's stock.

5. Turnover

Turnover arises from:

	2025	2024
	£	£
Sale of goods	32,462,980	28,872,741
	_______	_______

The turnover is attributable to the one principal activity of the company. An analysis of turnover by the geographical markets that substantially differ from each other is given below:
	2025	2024
	£	£
United Kingdom	28,005,107	25,357,600
Europe	2,269,271	1,961,798
Rest of World	2,188,602	1,553,343
	_______	_______
	32,462,980	28,872,741
	_______	_______

6. Operating profit

Operating profit is stated after charging/(crediting):

	2025	2024
	£	£
Amortisation of intangible assets	6,140	-
Depreciation of tangible assets	209,414	292,549
(Gain)/loss on disposal of tangible assets	-	18,752
Impairment of trade debtors	2,919	87,930
Research and development expenditure written off	106,721	109,583
Foreign exchange differences	11,778	( 19,346)
Fees payable for the audit of the financial statements	48,625	51,750
	_______	_______

7. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to:

	2025	2024
Management	3	2
Office	38	36
	_______	_______
	41	38
	_______	_______

The aggregate payroll costs incurred during the year were:

	2025	2024
	£	£
Wages and salaries	2,316,286	2,070,111
Social security costs	232,076	188,269
Other pension costs	110,748	181,422
	_______	_______
	2,659,110	2,439,802
	_______	_______

The company operates a defined contribution pension scheme for the benefit of the employees. The assets of the scheme are administered by an independent pensions provider.

8. Directors remuneration

The directors aggregate remuneration in respect of qualifying services was:

	2025	2024
	£	£
Remuneration	46,800	59,078
Company contributions to pension schemes in respect of qualifying services	720	80,000
	_______	_______
	47,520	139,078
	_______	_______

9. Income from shares in group undertakings

	2025	2024
	£	£
Income from shares in group undertakings	(-)	156,884
	_______	_______

10. Other interest receivable and similar income

	2025	2024
	£	£
Bank deposits	38,633	31,738
Other interest receivable and similar income	16,139	50,690
	_______	_______
	54,772	82,428
	_______	_______

11. Interest payable and similar expenses

		2025	2024
		£	£
Bank loans and overdrafts		62,991	242,154
Other loans made to the company:
	Finance leases and hire purchase contracts	17,428	17,232
Other interest payable and similar expenses		564	-
		_______	_______
		80,983	259,386
		_______	_______

12. Tax on profit

Major components of tax expense

	2025	2024
	£	£
Current tax:
UK current tax expense	774,505	701,564
Adjustments in respect of previous periods	( 259,420)	-
	_______	_______
Total current tax	515,085	701,564

Deferred tax:
Origination and reversal of timing differences	36,426	31,516
	_______	_______
Tax on profit	551,511	733,080
	_______	_______

Reconciliation of tax expense

The tax assessed on the profit for the year is lower than (2024: lower than) the standard rate of corporation tax in the UK of 25.00 % (2024: 25.00%).

	2025	2024
	£	£
Profit before taxation	3,520,898	2,944,590
	_______	_______

Profit multiplied by rate of tax	880,225	736,148
Adjustments in respect of prior periods	( 259,420)	-
Effect of expenses not deductible for tax purposes	2,077	( 30,309)
Effect of capital allowances and depreciation	( 107,797)	( 4,275)
Deferred tax	36,426	31,516
	_______	_______
Tax on profit	551,511	733,080
	_______	_______

13. Dividends

Equity dividends

	2025	2024
	£	£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year)	7,770,000	200,000
	_______	_______

14. Intangible assets

	Software development costs	Total
	£	£
Cost
At 1 January 2025	-	-
Additions	24,560	24,560
	_______	_______
At 31 December 2025	24,560	24,560
	_______	_______
Amortisation
At 1 January 2025	-	-
Charge for the year	6,140	6,140
	_______	_______
At 31 December 2025	6,140	6,140
	_______	_______
Carrying amount
At 31 December 2025	18,420	18,420
	_______	_______
At 31 December 2024	-	-
	_______	_______

15. Tangible assets

	Freehold and leasehold properties	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Computer equipment	Total
	£	£	£	£	£	£
Cost or valuation
At 1 January 2025	8,031,440	599,778	41,425	428,219	49,331	9,150,193
Additions	-	173,862	439,562	-	-	613,424
Disposals	( 10,843,688)	-	-	-	-	( 10,843,688)
Revaluation	2,812,248	-	-	-	-	2,812,248
	_______	_______	_______	_______	_______	_______
At 31 December 2025	-	773,640	480,987	428,219	49,331	1,732,177
	_______	_______	_______	_______	_______	_______
Depreciation
At 1 January 2025	896,427	231,526	25,113	192,687	49,297	1,395,050
Charge for the year	-	95,381	21,675	92,324	34	209,414
Revaluations	( 896,427)	-	-	-	-	( 896,427)
	_______	_______	_______	_______	_______	_______
At 31 December 2025	-	326,907	46,788	285,011	49,331	708,037
	_______	_______	_______	_______	_______	_______
Carrying amount
At 31 December 2025	-	446,733	434,199	143,208	-	1,024,140
	_______	_______	_______	_______	_______	_______
At 31 December 2024	7,135,013	368,252	16,312	235,532	34	7,755,143
	_______	_______	_______	_______	_______	_______

A fixed and floating charge exists over the company and all property and assets held by the company are pledged as security.

Obligations under finance leases

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:


	Plant and machinery	Motor vehicles
	£	£
At 31 December 2025	274,910	67,745
	_______	_______
At 31 December 2024	236,676	102,474
	_______	_______

16. Investments

	Shares in group undertakings	Total
	£	£
Cost
At 1 January 2025 and 31 December 2025	101	101
	_______	_______
Impairment
At 1 January 2025 and 31 December 2025	-	-
	_______	_______
Carrying amount
At 31 December 2025	101	101
	_______	_______
At 31 December 2024	101	101
	_______	_______

The investments in the subsidiaries are not listed and are held at cost less impairment.

Investments in group undertakings
	Nature of trade	Registered office	Class of share	Percentage of shares held
Subsidiary undertakings
Polycorr Limited	Manufacturing	45-49 Greek Street, Stockport, Cheshire, SK3 8AX	Ordinary	100

P P Polymers Limited	Recycling	45-49 Greek Street, Stockport, Cheshire, SK3 8AX	Ordinary	100

17. Stocks

	2025	2024
	£	£
Finished goods	4,320,157	3,780,935
	_______	_______

The amount of stock recognised as an expense in cost of sales within the statement of comprehensive income during the year totalled £21,131,185 (2024: £18,479,235). There are no write-downs or reversals of write-downs of stocks in 2025 or 2024.

18. Debtors

	2025	2024
	£	£
Trade debtors	6,096,602	5,324,244
Amounts owed by group undertakings	1,805,817	1,683,090
Prepayments and accrued income	559,905	418,006
Other debtors	496,743	348,810
	_______	_______
	8,959,067	7,774,150
	_______	_______

Provision for the impairment of trade debtors at the year end was £nil (2024: £nil).Amounts owed by group undertakings have no set repayment terms and attract no interest.

19. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	-	545,726
Trade creditors	584,730	626,018
Amounts owed to group undertakings	2,706,562	1,389,071
Accruals and deferred income	680,812	554,775
Social security and other taxes	180,999	214,952
Obligations under finance leases	119,105	98,128
Director loan accounts	350,000	436,160
Other creditors	10,395	8,412
	_______	_______
	4,632,603	3,873,242
	_______	_______

National Westminster Bank Plc holds an unlimited debenture incorporating a fixed and floating charge over all assets of the company.Bank loans were settled in full during the year ended 31 December 2025.Amounts owed to group undertakings have no set repayment terms and attract no interest.Hire purchase liabilities are secured on the relevant assets to which they relate.

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

	2025	2024
	£	£
Bank loans and overdrafts	-	3,030,632
Obligations under finance leases	144,927	118,165
	_______	_______
	144,927	3,148,797
	_______	_______

National Westminster Bank Plc holds an unlimited debenture incorporating a fixed and floating charge over all assets of the company.Bank loans were settled in full during the year ended 31 December 2025.Hire purchase liabilities are secured on the relevant assets to which they relate.

21. Obligations under finance leases

Company lessee

The total future minimum lease payments under finance lease agreements are as follows:

	2025	2024
	£	£
Not later than 1 year	126,670	98,128
Later than 1 year and not later than 5 years	176,803	118,164
	_______	_______
Present value of minimum lease payments	303,473	216,292
	_______	_______

Finance leases and hire purchase liabilities are secured on the relevant assets to which they relate.Finance lease payments are calculated at the net present value of remaining payments using a discount rate of 3.75% being the Bank of England borrowing rate at 31 December 2025.

22. Provisions

	Deferred tax (note 23)	Total
	£	£
At 1 January 2025	172,695	172,695
Charges against provisions	36,426	36,426
	_______	_______
At 31 December 2025	209,121	209,121
	_______	_______

23. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 22)	209,121	172,695
	_______	_______

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	209,121	172,695
	_______	_______

24. Employee benefits

The amount recognised in profit or loss in relation to defined contribution plans was £ 110,748 (2024: £ 181,422 ).

Unpaid pension contributions at the year end date amounted to £nil (2024: £7,615).

25. Called up share capital

Issued, called up and fully paid

	2025		2024
	No	£	No	£
Ordinary A shares of £ 1.00 each	376,652	376,652	376,652	376,652
Ordinary B shares of £ 1.00 each	41,850	41,850	41,850	41,850
Ordinary D shares of £ 1.00 each	22,026	22,026	22,026	22,026
	_______	_______	_______	_______
	440,528	440,528	440,528	440,528
	_______	_______	_______	_______

26. Reserves

The Share premium account reserve records the amount above the nominal value received for shares sold, less transaction costs.The Capital redemption reserve records the nominal value of shares repurchased by the company.The Share option reserve records the accumulated fair value of share options charged to profit or loss over the vesting period to reflect the best estimate of the number of options that will eventually vest.The Profit and loss account reserve records retained earnings and accumulated losses.

27. Analysis of changes in net debt

	At 1 January 2025	Cash flows	At 31 December 2025
	£	£	£
Cash and cash equivalents	2,000,693	1,688,423	3,689,116
Debt due within one year	(2,469,085)	(706,582)	(3,175,667)
Debt due after one year	(3,148,797)	3,003,870	(144,927)
	_______	_______	_______
	( 3,617,189)	3,985,711	368,522
	_______	_______	_______

28. Operating leases

The company as lessee

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


	£	£

Not later than 1 year	926,386	36,684
Later than 1 year and not later than 5 years	3,609,264	30,888
	_______	_______
	4,535,650	67,572
	_______	_______

The company uses operating leases to hire plant & machinery. These leases have terms of renewal which are at the option of the lessee.On 9th April 2025, the company entered into commercial rental leases for company premises with the right to break these leases on the 5th anniversary of the lease date.Operating lease payments are calculated at the net present value of remaining payments using a discount rate of 3.75% being the Bank of England borrowing rate at 31 December 2025.

29. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2025
		Balance brought forward	Advances /(credits) to the directors	Balance o/standing
		£	£	£
	Mr J D Harrison	( 236,160)	357,959	121,799
	Mr S Cox	( 200,000)	( 150,000)	( 350,000)
		_______	_______	_______
		( 436,160)	207,959	( 228,201)
		_______	_______	_______

2024
		Balance brought forward	Advances /(credits) to the directors	Balance o/standing
		£	£	£
	Mr J D Harrison	( 767,498)	531,338	( 236,160)
	Mr S Cox	( 156,884)	( 43,116)	( 200,000)
		_______	_______	_______
		( 924,382)	488,222	( 436,160)
		_______	_______	_______

No interest is payable on loan amounts due to and from directors and loans are repayable on demand.

30. Related party transactions

During the year, the company made several transactions at arm's length with wholly owned group companies. Exemption from the disclosure of these transactions has been taken under paragraph 33.1A of FRS 102. The company occupied premises owned by Protec Group Properties Limited, a company associated by its common ownership by the director, J D Harrison, and rent in the sum of £599,022 was paid for on a commercial basis for the commercial use of the premises during the year ended 31 December 2025.At the year end date, the company was owed £125,777 (2024: £nil) from Protec Group Properties Limited. No interest is charged by the company on the loan in this regard and the loan is repayable on demand.

31. Key management personnel

The board consider that key management is effectively comprised of the directors only.

32. Controlling party

The company is a wholly owned subsidiary of its immediate and ultimate parent, Protec International Holdings Limited whose registered office is 45-49 Greek Street, Stockport, SK3 8AX. The principal place of business of Protec International Holdings Limited is Construction House, Adlington Business Park, Adlington, Macclesfield, SK10 4NL. The consolidated financial statements of the group for the year ended 31 December 2025 are available to the public and may be obtained from Companies House. On 9 April 2025, 100% of the issued share capital of Protec International Limited was acquired by Protec International Holdings Limited. Protec International Holdings Limited is under the control of the director, J D Harrison, by virtue of his shareholding.