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REGISTERED NUMBER: 08104851 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2023

FOR

PROTOCOL FINANCE SOLUTIONS LIMITED

PROTOCOL FINANCE SOLUTIONS LIMITED (REGISTERED NUMBER: 08104851)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

PROTOCOL FINANCE SOLUTIONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2023







DIRECTOR: H L Eida





REGISTERED OFFICE: Winston House
1st Floor
2 Dollis Park
London
N3 1HF





REGISTERED NUMBER: 08104851 (England and Wales)





ACCOUNTANTS: The Paris Partnership LLP
Chartered Accountants
Russell House
140 High Street
Edgware
Middlesex
HA8 7LW

PROTOCOL FINANCE SOLUTIONS LIMITED (REGISTERED NUMBER: 08104851)

STATEMENT OF FINANCIAL POSITION
30TH JUNE 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 549 732

CURRENT ASSETS
Debtors 5 - 7,778
Cash at bank and in hand 145,987 132,055
145,987 139,833
CREDITORS
Amounts falling due within one year 6 (44,780 ) (47,376 )
NET CURRENT ASSETS 101,207 92,457
TOTAL ASSETS LESS CURRENT
LIABILITIES

101,756

93,189

PROVISIONS FOR LIABILITIES (137 ) -
NET ASSETS 101,619 93,189

CAPITAL AND RESERVES
Called up share capital 7 100 100
Capital redemption reserve 8 100 100
Retained earnings 8 101,419 92,989
SHAREHOLDERS' FUNDS 101,619 93,189

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31st October 2023 and were signed by:



H L Eida - Director


PROTOCOL FINANCE SOLUTIONS LIMITED (REGISTERED NUMBER: 08104851)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023


1. STATUTORY INFORMATION

Protocol Finance Solutions 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 presentation currency of the financial statements is the Pound Sterling (£).


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 fees earned from the principal activity of being a financial intermediary and broker.

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 - 25% on reducing balance
Computer Equipment - 25% on reducing balance

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

PROTOCOL FINANCE SOLUTIONS LIMITED (REGISTERED NUMBER: 08104851)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023


2. ACCOUNTING POLICIES - continued

Interest payable
Interest payable is charged to the profit and loss account on an accruals basis.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction and where material are subsequently measured at amortised cost using the effective interest method, less any impairment.

Basic financial liabilities
Basic financial liabilities, including trade and other payables and loans from company undertakings that are classified as debt are initially measured at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at the market rate of interest .

Trade creditors are obligations to pay for goods or services that have been acquired that have been acquired in the ordinary course of business from suppliers. Accounts payables are classified as current liabilities if a payment is due within one year or less. If not, they are present as non current liabilities. Short term creditors are initially recognised at transaction price and where material are subsequently measured at amortised cost using the effective interest method


Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st July 2022
and 30th June 2023 2,479
DEPRECIATION
At 1st July 2022 1,747
Charge for year 183
At 30th June 2023 1,930
NET BOOK VALUE
At 30th June 2023 549
At 30th June 2022 732

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors - 7,778

PROTOCOL FINANCE SOLUTIONS LIMITED (REGISTERED NUMBER: 08104851)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 2,400
Taxation and social security 42,647 43,056
Other creditors 2,133 1,920
44,780 47,376

7. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
50 Share capital 1 1 50 50
50 Share capital 2 1 50 50
100 100

8. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1st July 2022 92,989 100 93,089
Profit for the year 165,330 165,330
Dividends (86,900 ) (86,900 )
Purchase of own shares (70,000 ) - (70,000 )
At 30th June 2023 101,419 100 101,519

9. RELATED PARTY DISCLOSURES

H L Eida

2023 2022
£ £

Advances by the director to the company 20,000 9,990
Payments by the company to the director 99,286 96,882
Dividends paid to director 86.900 77,750
Balance due (to)/from the director at the balance sheet date (213 ) 7,402

10. ULTIMATE CONTROLLING PARTY

The controlling party is H L Eida.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PROTOCOL FINANCE SOLUTIONS LIMITED


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Protocol Finance Solutions Limited for the year ended 30th June 2023 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Protocol Finance Solutions Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Protocol Finance Solutions Limited and state those matters that we have agreed to state to the director of Protocol Finance Solutions Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Protocol Finance Solutions Limited and its director for our work or for this report.

It is your duty to ensure that Protocol Finance Solutions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Protocol Finance Solutions Limited. You consider that Protocol Finance Solutions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Protocol Finance Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






The Paris Partnership LLP
Chartered Accountants
Russell House
140 High Street
Edgware
Middlesex
HA8 7LW


31st October 2023