2022-04-012023-03-312023-03-31false11870018PROFIT PROFICY 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PROFIT PROFICY LTD

Registered Number
11870018
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

PROFIT PROFICY LTD
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

SWINDELL, Ian James
SWINDELL, Stuart Andrew

Registered Address

The Old Granary
Dunton Road
Laindon
SS15 4DB

Registered Number

11870018 (England and Wales)
PROFIT PROFICY LTD
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Current assets
Debtors6-1,200
Cash at bank and on hand4,5863,331
4,5864,531
Creditors amounts falling due within one year7(3,145)(2,240)
Net current assets (liabilities)1,4412,291
Total assets less current liabilities1,4412,291
Creditors amounts falling due after one year8-(1,000)
Net assets1,4411,291
Capital and reserves
Called up share capital100100
Profit and loss account1,3411,191
Shareholders' funds1,4411,291
The financial statements were approved and authorised for issue by the Board of Directors on 15 October 2023, and are signed on its behalf by:
SWINDELL, Stuart Andrew
Director
Registered Company No. 11870018
PROFIT PROFICY LTD
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
4.Employee information

20232022
Average number of employees during the year20
5.Dividends proposed and payable

2023

2022

££
Dividends Paid7,5005,000
Total7,5005,000
6.Debtors

2023

2022

££
Trade debtors / trade receivables-1,200
Total-1,200
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.
7.Creditors within one year

2023

2022

££
Trade creditors / trade payables1818
Taxation and social security3,1272,222
Total3,1452,240
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.
8.Creditors after one year

2023

2022

££
Other creditors-1,000
Total-1,000
Long 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.