Protex Financial Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12312461 (England and Wales)

Unaudited Financial Statements

for the Period 13 November 2019 to 30 November 2020

for

Protex Financial Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Walton

K Bird

REGISTERED OFFICE:

31 Sunflower Lane

Stainton

Middlesbrough

TS8 9FS

REGISTERED NUMBER:

12312461 (England and Wales)

ACCOUNTANTS:

APC Accountancy

Chartered Accountants

Queens Court Business Centre

Newport Road

Middlesbrough

TS1 5EH

FIXED ASSETS

Intangible assets

4

16,200

Tangible assets

5

3,027

19,227

CURRENT ASSETS

Debtors

6

2,014

CREDITORS

Amounts falling due within one year

7

15,639

NET CURRENT LIABILITIES

(13,625

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,602

PROVISIONS FOR LIABILITIES

8

444

NET ASSETS

5,158

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

5,156

5,158

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 November 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 November 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 7 June 2021 and were signed on its behalf by:

S Walton - Director

K Bird - Director

1.	STATUTORY INFORMATION

Protex Financial 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery etc

-

20% on cost

Taxation

Taxation for the period 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 period 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 period was 2 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

18,000

At 30 November 2020

18,000

AMORTISATION

Charge for period

1,800

At 30 November 2020

1,800

NET BOOK VALUE

At 30 November 2020

16,200

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

3,783

At 30 November 2020

3,783

DEPRECIATION

Charge for period

756

At 30 November 2020

756

NET BOOK VALUE

At 30 November 2020

3,027

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

2,014

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Taxation and social security

2,150

Other creditors

13,489

15,639

8.	PROVISIONS FOR LIABILITIES

£

Deferred tax

444

Deferred

tax

£

Movement

444

Balance at 30 November 2020

444

9.	RELATED PARTY DISCLOSURES

As at the 30 November 2020 the company owed its directors £12,708.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is S Walton.

The ultimate controlling party is K Bird.