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REGISTERED NUMBER: 08080702 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Professional H E Services Limited

Professional H E Services Limited (Registered number: 08080702)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Professional H E Services Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: D G Fryer
G Ball
M Keen
K B Frost





SECRETARY: D G Fryer





REGISTERED OFFICE: 3 Holywell Drive
Loughborough
Leicestershire
LE11 3TU





REGISTERED NUMBER: 08080702 (England and Wales)





ACCOUNTANTS: Charnwood Accountants & Business Advisors LLP
The Point
Granite Way
Mountsorrel
Loughborough
Leicestershire
LE12 7TZ

Professional H E Services Limited (Registered number: 08080702)

Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £   
CURRENT ASSETS
Debtors 4 189,960 779,921
Cash at bank 2,842,746 2,264,660
3,032,706 3,044,581
CREDITORS
Amounts falling due within one year 5 456,169 505,205
NET CURRENT ASSETS 2,576,537 2,539,376
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,576,537

2,539,376

RESERVES
Other Reserves 6 1,579,629 1,579,629
Income and expenditure account 6 996,908 959,747
2,576,537 2,539,376

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 surplus or deficit 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 Board of Directors and authorised for issue on 2 October 2023 and were signed on its behalf by:





D G Fryer - Director


Professional H E Services Limited (Registered number: 08080702)

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

1. STATUTORY INFORMATION

Professional H E Services Limited is a private company, limited by guarantee , 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 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.

These financial statements have been prepared in compliance with applicable legislation except that they have departed from the Companies Act restriction of merger accounting to group reconstructions in order to achieve a fair presentation.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2022 - 28 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 119,685 240,751
Other debtors 70,275 539,170
189,960 779,921

Professional H E Services Limited (Registered number: 08080702)

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

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 91,067 33,218
Taxation and social security 50,284 88,968
Other creditors 314,818 383,019
456,169 505,205

6. RESERVES
Income
and
expenditure Other
account Reserves Totals
£    £    £   

At 1 August 2022 959,747 1,579,629 2,539,376
Surplus for the year 37,161 37,161
At 31 July 2023 996,908 1,579,629 2,576,537



7. RELATED PARTY DISCLOSURES

Kim Frost a director of the company was paid £2,000 for his services for the UHR Conference during the year.

8. MERGER

On 1st August 2022 Professional HE Services Limited ( PHES ) merged with the College & University Business Officers ( CUBO ).

Under the Companies Act, the required accounting treatment for this is as a business combination that is in substance a gift. However, as there is no change in the ultimate ownership of CUBO and it is the view of the Directors that this accounting treatment would not be consistent with a true and fair presentation of the financial position and performance of Professional HE Services Limited and will be applying merger accounting. Therefore 2022 figures have been restated to include CUBO for the full year and the position as at the balance sheet date as at 31st July 2022.

Profit / (Loss) for the year ended 31st July 2023 :
Amount relating to PHES £( 18,394)
Amount relating to CUBO £ 55,555
Total Post tax Profits for year £ 37,161

Net Assets as at 31st July 2022 :
Amount relating to PHES £1,073,470
Amount relating to CUBO £506,159
Total Net Assets as at 31st July 2022 £1,579,629