Profit Un Ltd 13941337 false 2022-02-25 2023-02-28 2023-02-28 The principal activity of the company is mobile phone repairs. Digita Accounts Production Advanced 6.30.9574.0 true true 13941337 2022-02-25 2023-02-28 13941337 2023-02-28 13941337 core:CurrentFinancialInstruments 2023-02-28 13941337 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 13941337 core:OtherPropertyPlantEquipment 2023-02-28 13941337 bus:SmallEntities 2022-02-25 2023-02-28 13941337 bus:AuditExemptWithAccountantsReport 2022-02-25 2023-02-28 13941337 bus:AbridgedAccounts 2022-02-25 2023-02-28 13941337 bus:SmallCompaniesRegimeForAccounts 2022-02-25 2023-02-28 13941337 bus:RegisteredOffice 2022-02-25 2023-02-28 13941337 bus:Director1 2022-02-25 2023-02-28 13941337 bus:PrivateLimitedCompanyLtd 2022-02-25 2023-02-28 13941337 core:OtherPropertyPlantEquipment 2022-02-25 2023-02-28 13941337 core:PlantMachinery 2022-02-25 2023-02-28 13941337 countries:AllCountries 2022-02-25 2023-02-28 13941337 2022-02-24 13941337 core:OtherPropertyPlantEquipment 2022-02-24 iso4217:GBP xbrli:pure

Registration number: 13941337

Profit Un Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Period from 25 February 2022 to 28 February 2023

 

Profit Un Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Profit Un Ltd

Company Information

Director

Mr Neil Barker

Registered office

Unit 8 Pytchley Business Park
Kettering
NN15 6NP

Accountants

The Numbersmith Limited
10 Cheyne Walk
Northampton
England
NN1 5PT

 

Profit Un Ltd

(Registration number: 13941337)
Abridged Balance Sheet as at 28 February 2023

Note

2023
£

Fixed assets

 

Tangible assets

5

7,125

Current assets

 

Debtors

8,612

Cash at bank and in hand

 

5,617

 

14,229

Creditors: Amounts falling due within one year

(24,361)

Net current liabilities

 

(10,132)

Total assets less current liabilities

 

(3,007)

Accruals and deferred income

 

(193)

Net liabilities

 

(3,200)

Capital and reserves

 

Called up share capital

1

Retained earnings

(3,201)

Shareholders' deficit

 

(3,200)

For the financial period ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option to not file the profit and loss account has been taken.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 25 October 2023
 

 

Profit Un Ltd

(Registration number: 13941337)
Abridged Balance Sheet as at 28 February 2023

.........................................
Mr Neil Barker
Director

 

Profit Un Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 25 February 2022 to 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England and wales.

The address of its registered office is:
Unit 8 Pytchley Business Park
Kettering
NN15 6NP
England

These financial statements were authorised for issue by the director on 25 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

 

Profit Un Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 25 February 2022 to 28 February 2023

Judgements

In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' best judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be appropriate.

Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and
subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and
installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

25% on Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Profit Un Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 25 February 2022 to 28 February 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary
course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised
cost using the effective interest method, less provision for impairment. A provision for the impairment of trade
debtors is established when there is objective evidence that the company will not be able to collect all
amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Accounts payable are classified as current liabilities if the company does not have an
unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve
months after the reporting date. If there is an unconditional right to defer settlement for at least twelve
months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost
using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other
resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is
deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Profit Un Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 25 February 2022 to 28 February 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 4.

4

Loss/profit before tax

Arrived at after charging/(crediting)

2023
£

Depreciation expense

2,375

5

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

Additions

9,500

9,500

At 28 February 2023

9,500

9,500

Depreciation

At 25 February 2022

2,375

2,375

At 28 February 2023

2,375

2,375

Carrying amount

At 28 February 2023

7,125

7,125