Protectorcomms Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05799110 (England and Wales)

PROTECTORCOMMS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D J O'Brien

L D Harding

SECRETARY:

D J O'Brien

REGISTERED OFFICE:

Unit C2/C3 - De Clare House

4 Sir Alfred Owen Way

Pontygwindy Industrial Estate

CAERPHILLY

Caerphilly

CF83 3HU

REGISTERED NUMBER:

05799110 (England and Wales)

ACCOUNTANTS:

MHA (trading name of MacIntyre Hudson LLP)

Limited liability partnership in England & Wales

Registered number OC312313

Elfed House

Oak Tree Court

Cardiff Gate Business Park

CARDIFF

County of Cardiff

CF23 8RS

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

634,451

240,130

634,451

240,130

CURRENT ASSETS

Stocks

276,905

-

Debtors

6

1,407,571

1,061,816

Cash at bank

1,381,799

1,186,153

3,066,275

2,247,969

CREDITORS

Amounts falling due within one year

7

(1,194,168

)

(852,165

)

NET CURRENT ASSETS

1,872,107

1,395,804

TOTAL ASSETS LESS CURRENT LIABILITIES

2,506,558

1,635,934

CREDITORS

Amounts falling due after more than one year

8

(330,875

)

(180,521

)

PROVISIONS FOR LIABILITIES

(146,256

)

-

NET ASSETS

2,029,427

1,455,413

CAPITAL AND RESERVES

Called up share capital

1,002

1,002

Retained earnings

2,028,425

1,454,411

SHAREHOLDERS' FUNDS

2,029,427

1,455,413

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 Profit and loss account has not been delivered.

The financial statements were approved for issue by the Board of Directors and authorised for issue on 4 October 2023 and were signed on its behalf by:

D J O'Brien - Director

1.	STATUTORY INFORMATION

Protectorcomms 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.

The company's functional and presentational currency in the financial statements is the Sterling (£), rounded to the nearest pound.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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 represents amounts billed and billable in respect of the supply and installation of security alarms and telecommunications equipment during the year, excluding value added tax.

Work undertaken during the year but unbilled at the year end is valued by the directors at selling price less an allowance for any work which is not recoverable. This unbilled work is included in turnover for the year.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

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

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Current tax

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantively enacted at 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

Contributions payable to employees personal pension schemes are charged to the profit and loss account in the period to which they relate.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

Financial instruments

Basic financial instruments are recognised at amortised cost.

Grants

Where a capital grant has been received in respect of specific equipment, the asset is capitalised and depreciated over its useful life and the associated grant income is credited to deferred income and released to the profit and loss account so as to be matched with the associated depreciation charge.

Grants towards revenue expenditure are credited to income in the period to which they relate. Where grants relate to specific project expenditure lasting for more than one year, the remaining grant is deferred pro rata and shown under current liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 19 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

and 31 March 2023

50,000

AMORTISATION

At 1 April 2022

and 31 March 2023

50,000

NET BOOK VALUE

At 31 March 2023

-

At 31 March 2022

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

Fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2022

13,319

-

264,220

67,378

344,917

Additions

39,995

66,415

349,970

22,275

478,655

At 31 March 2023

53,314

66,415

614,190

89,653

823,572

DEPRECIATION

At 1 April 2022

13,319

-

45,881

44,954

104,154

Charge for year

667

2,631

72,634

9,035

84,967

At 31 March 2023

13,986

2,631

118,515

53,989

189,121

NET BOOK VALUE

At 31 March 2023

39,328

63,784

495,675

35,664

634,451

At 31 March 2022

-

-

218,339

22,424

240,763

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

1,206,792

869,216

Amounts owed by group undertakings

82,088

71,715

Other debtors

64,926

72,011

VAT

41,643

29,027

Prepayments

12,122

19,847

1,407,571

1,061,816

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

11,100

11,250

Hire purchase contracts

99,269

53,206

Trade creditors

664,509

453,836

Amounts owed to group undertakings

2

2

Corporation tax

90,317

123,996

Social security and other taxes

25,425

17,859

Other creditors

109,036

51,322

Directors' current accounts

76,277

34,803

Accruals and deferred income

96,008

105,766

Deferred government grants

22,225

125

1,194,168

852,165

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

22,671

32,240

Hire purchase contracts

308,204

148,281

330,875

180,521

9.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Hire purchase contracts

407,473

201,487

The hire purchase liability is secured over the associated fixed asset.

10.	OTHER FINANCIAL COMMITMENTS

The total amount of commitments in respect of operating leases is £29,818 (2022: £73,413).