Proton Solutions Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07887325 (England and Wales)

Financial statements for the year ended 31 December 2019

For

Proton Solutions Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTOR:

Mr D Kashuba

REGISTERED OFFICE:

Parker Russell Level 30

The Leadenhall Building

122 Leadenhall Street

City of London

EC3C 4AB

REGISTERED NUMBER:

07887325 (England and Wales)

ACCOUNTANTS:

Parker Russell

Chartered Accountants

Level 30

The Leadenhall Building,

122 Leadenhall Building

City of London

London

EC3V 4AB

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Proton Solutions Ltd for the year ended 31 December 2019 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Proton Solutions Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Proton Solutions Ltd and state those matters that we have agreed to state to the director of Proton Solutions Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Proton Solutions Ltd and its director for our work or for this report.

It is your duty to ensure that Proton Solutions Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Proton Solutions Ltd. You consider that Proton Solutions Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Proton Solutions Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Parker Russell

Chartered Accountants

Level 30

The Leadenhall Building,

122 Leadenhall Building

City of London

London

EC3V 4AB

10 December 2020

Fixed assets

Tangible assets

4

1,915

2,394

Current assets

Debtors

5

1,481,229

1,334,275

Cash at bank

1,337,956

1,264,240

2,819,185

2,598,515

Creditors

Amounts falling due within one year

6

811,294

713,061

Net current assets

2,007,891

1,885,454

Total assets less current liabilities

2,009,806

1,887,848

Creditors

Amounts falling due after more than one year

7

(164,985

)

(149,946

)

Accruals and deferred income

-

(100,000

)

Net assets

1,844,821

1,637,902

Capital and reserves

Called up share capital

1,000

1,000

Retained earnings

1,843,821

1,636,902

Shareholders' funds

1,844,821

1,637,902

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 December 2020 and were signed by:

Mr D Kashuba - Director

1.	STATUTORY INFORMATION

Proton Solutions Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

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

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2019

and 31 December 2019

6,713

DEPRECIATION

At 1 January 2019

4,319

Charge for year

479

At 31 December 2019

4,798

NET BOOK VALUE

At 31 December 2019

1,915

At 31 December 2018

2,394

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade debtors

1,271,339

947,426

Amounts owed by participating interests

-

344,976

Other debtors

209,890

41,873

1,481,229

1,334,275

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade creditors

697,292

604,711

Taxation and social security

65,002

59,350

Other creditors

49,000

49,000

811,294

713,061

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.19

31.12.18

£

£

Other creditors

164,985

149,946

8.	RELATED PARTY DISCLOSURES

Ms L Kashuba

Director and shareholder

Mr D Kashuba received dividend distribution in the sum of £47,120 ( £42,560) for the year in question.

31.12.19

31.12.18

£

£

Amount due to related party at the balance sheet date

124,892

42,560

Minority shareholder

Mrs L Kashuba received dividend distribution in the sum of £14,880 (£13,440; 2018) in the year under review.

31.12.19

31.12.18

£

£

Amount due to related party at the balance sheet date

14,880

13,440

9.	ULTIMATE CONTROLLING PARTY