| Protege Corporation Limited |
| Registered number: |
05256306 |
| Balance Sheet |
| as at 31 March 2023 |
|
| Notes |
|
|
2023 |
|
|
2022 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
205,588 |
|
|
210,578 |
|
| Current assets |
| Debtors |
3 |
|
320,383 |
|
|
299,975 |
| Cash at bank and in hand |
|
|
2,407 |
|
|
1,664 |
|
|
|
322,790 |
|
|
301,639 |
|
| Creditors: amounts falling due within one year |
4 |
|
(298,014) |
|
|
(291,493) |
|
| Net current assets |
|
|
|
24,776 |
|
|
10,146 |
|
| Total assets less current liabilities |
|
|
|
230,364 |
|
|
220,724 |
|
| Creditors: amounts falling due after more than one year |
5 |
|
|
(38,365) |
|
|
(46,154) |
|
|
|
| Net assets |
|
|
|
191,999 |
|
|
174,570 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1,000 |
|
|
1,000 |
| Profit and loss account |
|
|
|
190,999 |
|
|
173,570 |
|
| Shareholders' funds |
|
|
|
191,999 |
|
|
174,570 |
| Average number of emplyees |
|
|
|
0 |
|
|
0 |
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Mr Satbir Singh Ahluwalia |
| Director |
| Approved by the board on 19 December 2023 |
|
| Protege Corporation Limited |
| Notes to the Accounts |
| for the year ended 31 March 2023 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
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). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised when received. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Premises costs |
Over 50 years straight line |
|
|
|
|
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. |
|
|
Creditors |
|
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. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. |
|
|
|
|
| 2 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Premises costs |
| £ |
|
Cost |
|
At 1 April 2022 |
249,500 |
|
At 31 March 2023 |
249,500 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2022 |
38,922 |
|
Charge for the year |
4,990 |
|
At 31 March 2023 |
43,912 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2023 |
205,588 |
|
At 31 March 2022 |
210,578 |
|
|
|
| 3 |
Debtors |
2023 |
|
2022 |
| £ |
£ |
|
|
Related party balances |
314,891 |
|
294,483 |
|
Loan |
5,492 |
|
5,492 |
|
|
|
|
|
|
320,383 |
|
299,975 |
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
| £ |
£ |
|
|
Director's current account |
6,007 |
|
4,745 |
|
Related party balances |
120 |
|
120 |
|
Related party balance: Abhaya Care Limited |
255,355 |
|
255,355 |
|
Corporation tax |
14,073 |
|
8,814 |
|
Other creditors and accruals |
22,459 |
|
22,459 |
|
|
|
|
|
|
298,014 |
|
291,493 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due after one year |
2023 |
|
2022 |
| £ |
£ |
|
|
Bounce back loan |
|
|
|
|
38,365 |
|
46,154 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 6 |
Related party transactions |
2023 |
|
2022 |
| £ |
£ |
|
|
Mulberry Care Limited |
|
Mr Ahluwalia, a director and shareholder of this company is also a director and shareholder of Life Care Corporation Limited. |
|
An interest free and unsecured loan to Mulberry Care Limited yet to be reimbursed to the company. |
|
Amount due from the related party |
96,931 |
|
91,931 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Life Care Corporation Limited |
|
Mr Ahluwalia, a director and shareholder of this company is also a director and shareholder of Life Care Corporation Limited. |
|
An interest free and unsecured loan to Life Care Corporation Limited yet to be reimbursed to the company. |
|
Amount due from the related party |
55,152 |
|
45,652 |
|
|
|
|
|
|
|
|
|
|
SAT Bir Asset Holdings Limited |
|
Mr Ahluwalia, a director and shareholder of this company is also a director and shareholder of SAT Bir Assets Holdings Limited. |
|
An interest free and unsecured loan to SAT Bir Assets Holdings Limited yet to be reimbursed to the company. |
|
Amount due from the related party |
159,308 |
|
155,900 |
|
|
|
|
|
|
|
|
|
|
Saij Limited |
|
Mr Ahluwalia, a director and shareholder of this company is also a director and shareholder of Saij Limited. |
|
An interest free and unsecured loan to Saij Limited yet to be reimbursed to the company. |
|
Amount due from the related party |
1,000 |
|
1,000 |
|
|
|
|
|
|
|
|
|
|
Abhaya Care Limited |
|
The company is related by virtue of an interest in the company. |
|
An interest free and unsecured loan by Abhaya Care Limited yet to be reimbursed by the company. |
|
Amount due to the related party |
255,355 |
|
255,355 |
|
|
|
|
|
|
|
|
|
|
Lifetime Care Limited |
|
Mr Ahluwalia, a director and shareholder of this company is also a director and shareholder of Lifetime Care Limited. |
|
An interest free and unsecured loan from Lifetime Care Limited yet to be reimbursed by the company. |
|
Amount due to the related party |
120 |
|
120 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 7 |
Controlling party |
|
|
The director controls the company. |
|
| 8 |
Other information |
|
|
Protege Corporation Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Keyers Bridge House |
|
Wokingham Road |
|
Hurst |
|
Reading |
|
Berkshire RG10 0RU |
