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REGISTERED NUMBER: 05880238 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Profile Housing Limited

Profile Housing Limited (Registered number: 05880238)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Profile Housing Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: M N Carr
D H Ward





REGISTERED OFFICE: Carlton House
High Street
Higham Ferrers
Northamptonshire
NN10 8BW





BUSINESS ADDRESS: Suites 8 - 9 Burlington House
369 Wellingborough Road
Northampton
Northamptonshire
NN1 4EU





REGISTERED NUMBER: 05880238 (England and Wales)





ACCOUNTANTS: Willsons
Chartered Accountants
Carlton House
High Street
Higham Ferrers
Northamptonshire
NN10 8BW

Profile Housing Limited (Registered number: 05880238)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 597,500 750,000

CURRENT ASSETS
Debtors 5 69,569 62,359
Cash at bank 28,004 5,953
97,573 68,312
CREDITORS
Amounts falling due within one year 6 3,194 8,644
NET CURRENT ASSETS 94,379 59,668
TOTAL ASSETS LESS CURRENT
LIABILITIES

691,879

809,668

CREDITORS
Amounts falling due after more than one year 7 (332,493 ) (443,273 )

PROVISIONS FOR LIABILITIES (40,368 ) (42,157 )
NET ASSETS 319,018 324,238

CAPITAL AND RESERVES
Called up share capital 9 8 8
Non-distributable reserve 10 232,224 274,632
Retained earnings 10 86,786 49,598
SHAREHOLDERS' FUNDS 319,018 324,238

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.

Profile Housing Limited (Registered number: 05880238)

Balance Sheet - continued
31 March 2023


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 20 July 2023 and were signed on its behalf by:





M N Carr - Director


Profile Housing Limited (Registered number: 05880238)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Profile Housing 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the rental income due to the company for the period.

Investment property
The Investment property is shown at fair value as valued by the directors at the balance sheet date. Any change in fair value is shown within the profit and loss account.

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.

The deferred tax liability on the balance sheet reflects the potential tax liability on the disposal of the investment properties at their fair value.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - NIL ) .

Profile Housing Limited (Registered number: 05880238)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 750,000
Disposals (187,500 )
Revaluations 35,000
At 31 March 2023 597,500
NET BOOK VALUE
At 31 March 2023 597,500
At 31 March 2022 750,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2013 433,211
Valuation in 2014 27,589
Valuation in 2015 27,650
Valuation in 2016 26,550
Valuation in 2017 15,000
Valuation in 2018 40,000
Valuation in 2021 180,000
Valuation in 2023 (152,500 )
597,500

If the investment property had not been revalued it would have been included at the following historical cost:

31.3.23 31.3.22
£    £   
Cost 324,908 433,211

The investment property was valued on an open market basis on 31 March 2023 by the directors .

5. DEBTORS
31.3.23 31.3.22
£    £   
Amounts falling due within one year:
Trade debtors 90 -
Other debtors 68,008 60,008
Prepayments 360 478
68,458 60,486

Profile Housing Limited (Registered number: 05880238)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. DEBTORS - continued
31.3.23 31.3.22
£    £   
Amounts falling due after more than one year:
Prepayments 1,111 1,873

Aggregate amounts 69,569 62,359

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors - 3,608
Corporation Tax 35 1,928
Other creditors 1,380 1,380
Accrued expenses 1,779 1,728
3,194 8,644

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Mortgage 332,493 443,273

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgage 332,493 443,273

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Other loans 332,493 443,273

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
6 Ordinary £1 8 8

Profile Housing Limited (Registered number: 05880238)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

10. RESERVES
Retained Non-distributable
earnings reserve Totals
£    £    £   

At 1 April 2022 49,598 274,632 324,230
Deficit for the year (5,220 ) - (5,220 )
Investment properties 42,408 (42,408 ) -
At 31 March 2023 86,786 232,224 319,010

The Non-distributable reserve reflects the fair value movements in investment properties, as adjusted for the deferred tax effect. This reserve is not available for distribution as dividends.

11. RELATED PARTY DISCLOSURES

At the balance sheet date, the company was owed £68,000 (2022 £60,000) from companies that are directly or indirectly controlled by M N Carr and D H Ward. No interest has been charged on these loans.