PROTOSUN LTD

2019-01-012019-12-312019-12-31false06048689PROTOSUN LTD2020-10-08iso4217:GBPxbrli:pure060486892019-01-01060486892019-12-31060486892019-01-012019-12-31060486892018-01-01060486892018-12-31060486892018-01-012018-12-3106048689bus:SmallEntities2019-01-012019-12-3106048689bus:AuditExempt-NoAccountantsReport2019-01-012019-12-3106048689bus:FullAccounts2019-01-012019-12-3106048689bus:PrivateLimitedCompanyLtd2019-01-012019-12-3106048689core:WithinOneYear2019-12-3106048689core:AfterOneYear2019-12-3106048689core:WithinOneYear2018-12-3106048689core:AfterOneYear2018-12-3106048689core:ShareCapital2019-12-3106048689core:SharePremium2019-12-3106048689core:RevaluationReserve2019-12-3106048689core:OtherReservesSubtotal2019-12-3106048689core:RetainedEarningsAccumulatedLosses2019-12-3106048689core:ShareCapital2018-12-3106048689core:SharePremium2018-12-3106048689core:RevaluationReserve2018-12-3106048689core:OtherReservesSubtotal2018-12-3106048689core:RetainedEarningsAccumulatedLosses2018-12-3106048689core:LandBuildings2019-12-3106048689core:PlantMachinery2019-12-3106048689core:Vehicles2019-12-3106048689core:FurnitureFittings2019-12-3106048689core:OfficeEquipment2019-12-3106048689core:NetGoodwill2019-12-3106048689core:IntangibleAssetsOtherThanGoodwill2019-12-3106048689core:ListedExchangeTraded2019-12-3106048689core:UnlistedNon-exchangeTraded2019-12-3106048689core:LandBuildings2018-12-3106048689core:PlantMachinery2018-12-3106048689core:Vehicles2018-12-3106048689core:FurnitureFittings2018-12-3106048689core:OfficeEquipment2018-12-3106048689core:NetGoodwill2018-12-3106048689core:IntangibleAssetsOtherThanGoodwill2018-12-3106048689core:ListedExchangeTraded2018-12-3106048689core:UnlistedNon-exchangeTraded2018-12-3106048689core:LandBuildings2019-01-012019-12-3106048689core:PlantMachinery2019-01-012019-12-3106048689core:Vehicles2019-01-012019-12-3106048689core:FurnitureFittings2019-01-012019-12-3106048689core:OfficeEquipment2019-01-012019-12-3106048689core:NetGoodwill2019-01-012019-12-3106048689core:IntangibleAssetsOtherThanGoodwill2019-01-012019-12-3106048689core:ListedExchangeTraded2019-01-012019-12-3106048689core:UnlistedNon-exchangeTraded2019-01-012019-12-3106048689core:MoreThanFiveYears2019-01-012019-12-3106048689core:Non-currentFinancialInstruments2019-12-3106048689core:Non-currentFinancialInstruments2018-12-3106048689dpl:CostSales2019-01-012019-12-3106048689dpl:DistributionCosts2019-01-012019-12-3106048689dpl:AdministrativeExpenses2019-01-012019-12-3106048689core:LandBuildings2019-01-012019-12-3106048689core:PlantMachinery2019-01-012019-12-3106048689core:Vehicles2019-01-012019-12-3106048689core:FurnitureFittings2019-01-012019-12-3106048689core:OfficeEquipment2019-01-012019-12-3106048689dpl:GroupUndertakings2019-01-012019-12-3106048689dpl:ParticipatingInterests2019-01-012019-12-3106048689dpl:GroupUndertakingscore:ListedExchangeTraded2019-01-012019-12-3106048689core:ListedExchangeTraded2019-01-012019-12-3106048689dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2019-01-012019-12-3106048689core:UnlistedNon-exchangeTraded2019-01-012019-12-3106048689dpl:CostSales2018-01-012018-12-3106048689dpl:DistributionCosts2018-01-012018-12-3106048689dpl:AdministrativeExpenses2018-01-012018-12-3106048689core:LandBuildings2018-01-012018-12-3106048689core:PlantMachinery2018-01-012018-12-3106048689core:Vehicles2018-01-012018-12-3106048689core:FurnitureFittings2018-01-012018-12-3106048689core:OfficeEquipment2018-01-012018-12-3106048689dpl:GroupUndertakings2018-01-012018-12-3106048689dpl:ParticipatingInterests2018-01-012018-12-3106048689dpl:GroupUndertakingscore:ListedExchangeTraded2018-01-012018-12-3106048689core:ListedExchangeTraded2018-01-012018-12-3106048689dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2018-01-012018-12-3106048689core:UnlistedNon-exchangeTraded2018-01-012018-12-3106048689core:NetGoodwill2019-12-3106048689core:IntangibleAssetsOtherThanGoodwill2019-12-3106048689core:LandBuildings2019-12-3106048689core:PlantMachinery2019-12-3106048689core:Vehicles2019-12-3106048689core:FurnitureFittings2019-12-3106048689core:OfficeEquipment2019-12-3106048689core:AfterOneYear2019-12-3106048689core:WithinOneYear2019-12-3106048689core:ListedExchangeTraded2019-12-3106048689core:UnlistedNon-exchangeTraded2019-12-3106048689core:ShareCapital2019-12-3106048689core:SharePremium2019-12-3106048689core:RevaluationReserve2019-12-3106048689core:OtherReservesSubtotal2019-12-3106048689core:RetainedEarningsAccumulatedLosses2019-12-3106048689core:NetGoodwill2018-12-3106048689core:IntangibleAssetsOtherThanGoodwill2018-12-3106048689core:LandBuildings2018-12-3106048689core:PlantMachinery2018-12-3106048689core:Vehicles2018-12-3106048689core:FurnitureFittings2018-12-3106048689core:OfficeEquipment2018-12-3106048689core:AfterOneYear2018-12-3106048689core:WithinOneYear2018-12-3106048689core:ListedExchangeTraded2018-12-3106048689core:UnlistedNon-exchangeTraded2018-12-3106048689core:ShareCapital2018-12-3106048689core:SharePremium2018-12-3106048689core:RevaluationReserve2018-12-3106048689core:OtherReservesSubtotal2018-12-31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PROTOSUN LTD

Registered Number
06048689
(England and Wales)

Unaudited Financial Statements for the Year Ended
31 December 2019

PROTOSUN LTD

Company Information


Registered Address	45 East Street
	Blandford Forum
	DT11 7DX

PROTOSUN LTD

Balance Sheet as at
31 December 2019

	Notes	2019		2018
		£	£	£	£
Fixed assets
Tangible assets	6		17,069		4,243
Investments	5		370		560
			17,439		4,803
Current assets
Debtors	8	311,186		53,207
Cash at bank and on hand		36,992		12,777
		348,178		65,984
Creditors amounts falling due within one year	9	(202,409)		(94,427)
Net current assets (liabilities)			145,769		(28,443)
Total assets less current liabilities			163,208		(23,640)
Provisions for liabilities	10		(3,243)
Net assets			159,965		(23,640)
Capital and reserves
Called up share capital			10		10
Profit and loss account			159,955		(23,650)
Shareholders' funds			159,965		(23,640)

The company is a private company limited by shares and registered in England and Wales. It was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Board of Directors on 8 October 2020, and are signed on its behalf by:

Ian Derek Cordwell
Director
Registered Company No. 06048689

PROTOSUN LTD

Notes to the financial statements
for the year ended 31 December 2019

1.	COMPLIANCE WITH APPLICABLE REPORTING FRAMEWORK
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

2.	PRINCIPAL ACTIVITIES
	The principal activity of the company during the year continued to be that of a management company.

3.	BASIS OF MEASUREMENT USED IN FINANCIAL STATEMENTS
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Functional and presentation currency policy
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	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.

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

	Reducing balance (%)	Straight line (years)
Plant and machinery		5
Fixtures and fittings	15
Vehicles	25
Office Equipment		3

	Revenue recognition policy
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

Revenue recognition policy

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Deferred tax policy
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax policy

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Investments policy
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments policy

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Employee benefits policy
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Going concern
	The directors believe that the company is well placed to manage its business risks successfully. Accordingly they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

4.	EMPLOYEE INFORMATION

		2019		2018
	Average number of employees during the year	3		3

5.	FIXED ASSET INVESTMENTS

	Other investments other than loans £	Total £
Cost or valuation
At 01 January 19	560	560
Disposals	(190)	(190)
At 31 December 19	370	370
Net book value
At 31 December 19	370	370
At 31 December 18	560	560

6.	PROPERTY, PLANT AND EQUIPMENT

	Plant & machinery £	Vehicles £	Office Equipment £	Total £
Cost or valuation
At 01 January 19	295		7,606	7,901
Additions		13,500	2,828	16,328
At 31 December 19	295	13,500	10,434	24,229
Depreciation and impairment
At 01 January 19	31		3,627	3,658
Charge for year	59	1,516	1,927	3,502
At 31 December 19	90	1,516	5,554	7,160
Net book value
At 31 December 19	205	11,984	4,880	17,069
At 31 December 18	264		3,979	4,243

7.	DESCRIPTION OF EVENT AFTER REPORTING DATE
	Since 31 December 2019, the spread of COVID-19 has severely impacted the economy. Measures taken to contain the spread of the virus, including travel bans, quarantines, social distancing and closure of non- essential services have significantly disrupted operations. The government has responded with monetary and fiscal interventions to stabilise economic conditions. The Company has determined that these events are non-adjusting subsequent events. Accordingly, the financial position and results as of and for the year ended 31 December 2019 have not been adjusted to reflect their impact. The duration and impact of COVID-19, as well as the effectiveness of government response, remains unclear at this time. It is not possible to reliably estimate the duration and severity of these consequences, as well as their impact on the financial position and results of the Company for future periods.

DESCRIPTION OF EVENT AFTER REPORTING DATE

Since 31 December 2019, the spread of COVID-19 has severely impacted the economy.  Measures taken to contain the spread of the virus, including travel bans, quarantines, social distancing and closure of non- essential services have significantly disrupted operations.  The government has responded with monetary and fiscal interventions to stabilise economic conditions.

The Company has determined that these events are non-adjusting subsequent events.  Accordingly, the financial position and results as of and for the year ended 31 December 2019 have not been adjusted to reflect their impact.  The duration and impact of COVID-19, as well as the effectiveness of government response, remains unclear at this time.  It is not possible to reliably estimate the duration and severity of these consequences, as well as their impact on the financial position and results of the Company for future periods.

8.	DEBTORS
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

DEBTORS

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	2019 £	2018 £
Trade debtors / trade receivables	196,092
Other debtors	115,094	51,472
Prepayments and accrued income		1,735
Total	311,186	53,207

9.	CREDITORS WITHIN ONE YEAR
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	2019 £	2018 £
Trade creditors / trade payables	38,779	316
Taxation and social security	66,112	521
Other creditors	49,718	92,590
Accrued liabilities and deferred income	47,800	1,000
Total	202,409	94,427

10.	PROVISIONS FOR LIABILITIES

		2019 £		2018 £
	Net deferred tax liability (asset)	3,243
	Total	3,243		0