Protool Plastics Group Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06812549 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2020

for

Protool Plastics Group Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr. M A Hadfield

Mr S W Hall

Mr. I Hunter

Mr G A Wilkins

REGISTERED OFFICE:

28 Standard Way

Fareham Industrial Park

Fareham

Hampshire

PO16 8XG

REGISTERED NUMBER:

06812549 (England and Wales)

ACCOUNTANTS:

Crowther Chartered Accountants

Abacus House

Pennine Business Park

Longbow Close

Huddersfield

West Yorkshire

HD2 1GQ

FIXED ASSETS

Investments

4

105

105

CURRENT ASSETS

Cash at bank and in hand

807,304

300,831

CREDITORS

Amounts falling due within one year

5

13,231

12,106

NET CURRENT ASSETS

794,073

288,725

TOTAL ASSETS LESS CURRENT LIABILITIES

794,178

288,830

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

6

793,978

288,630

SHAREHOLDERS' FUNDS

794,178

288,830

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 26 February 2021 and were signed on its behalf by:

Mr. M A Hadfield - Director

1.	STATUTORY INFORMATION

Protool Plastics Group Limited 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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 November 2019

and 31 October 2020

105

NET BOOK VALUE

At 31 October 2020

105

At 31 October 2019

105

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Protool Plastic Components Ltd

Registered office:

Nature of business: Injection moulding

%

Class of shares:

holding

Ordinary

100.00

31.10.20

31.10.19

£

£

Aggregate capital and reserves

592,216

761,798

Profit for the year

381,426

366,308

Protool Precision Plastics Ltd

Registered office:

Nature of business: Plastic moulding

%

Class of shares:

holding

Ordinary

100.00

31.10.20

31.10.19

£

£

Aggregate capital and reserves

211,994

166,671

Profit for the year

403,311

141,670

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.20

31.10.19

£

£

Amounts owed to associates

13,167

12,106

Tax

64

-

13,231

12,106

6.

RESERVES

Retained

earnings

£

At 1 November 2019

288,630

Profit for the year

908,126

Dividends

(402,778

)

At 31 October 2020

793,978

7.	RELATED PARTY DISCLOSURES

During the year, the company received dividends of £551,008 (2019 - £513,322) from Protool Plastic Components Ltd. At the balance sheet date, the company owed Protool Plastic Components Ltd £13,167 (2019 - £12,106). Protool Plastics Group Ltd owns 100% of the shares in Protool Plastic Components Ltd.

During the year, the company received dividends of £357,988 (2019 - £39,434) from Protool Precision Plastics Ltd.At the balance sheet date, the company was owed £nil (2019 - £56,566) by Protool Precision Plastics Ltd. Protool Plastics Group Ltd owns 100% of the shares in Protool Precision Plastics Ltd.