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REGISTERED NUMBER: 06168053 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

PROFIXED INTERIORS LIMITED

PROFIXED INTERIORS LIMITED (REGISTERED NUMBER: 06168053)

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

Certified Accountants' Report 8

PROFIXED INTERIORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: N Spong
P Spong
Mrs C Spong
Mrs C V Spong





SECRETARY: Mrs C Spong





REGISTERED OFFICE: Market House
21 Lenten Street
Alton
GU34 1HG





REGISTERED NUMBER: 06168053 (England and Wales)





ACCOUNTANTS: Wettone Matthews Limited
Chartered Certified Accountants
Market House
21 Lenten Street
Alton
GU34 1HG

PROFIXED INTERIORS LIMITED (REGISTERED NUMBER: 06168053)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 691,577 589,510

CURRENT ASSETS
Stocks 5 269,579 246,677
Debtors 6 3,737,070 3,331,878
Cash at bank 633,409 -
4,640,058 3,578,555
CREDITORS
Amounts falling due within one year 7 1,979,737 2,233,470
NET CURRENT ASSETS 2,660,321 1,345,085
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,351,898

1,934,595

CREDITORS
Amounts falling due after more than one
year

8

(120,419

)

(110,318

)

PROVISIONS FOR LIABILITIES 9 (131,400 ) (112,007 )
NET ASSETS 3,100,079 1,712,270

CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 183,919 183,919
Retained earnings 2,916,060 1,528,251
SHAREHOLDERS' FUNDS 3,100,079 1,712,270

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.

PROFIXED INTERIORS LIMITED (REGISTERED NUMBER: 06168053)

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 16 November 2023 and were signed on its behalf by:





Mrs C Spong - Director


PROFIXED INTERIORS LIMITED (REGISTERED NUMBER: 06168053)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

PROFIXED INTERIORS LIMITED (REGISTERED NUMBER: 06168053)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 31 (2022 - 25 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 April 2022 480,000 10,040 300,756 25,455 816,251
Additions - - 170,918 - 170,918
At 31 March 2023 480,000 10,040 471,674 25,455 987,169
DEPRECIATION
At 1 April 2022 - 10,040 191,246 25,455 226,741
Charge for year - - 68,851 - 68,851
At 31 March 2023 - 10,040 260,097 25,455 295,592
NET BOOK VALUE
At 31 March 2023 480,000 - 211,577 - 691,577
At 31 March 2022 480,000 - 109,510 - 589,510

Cost or valuation at 31 March 2023 is represented by:

Fixtures
Long and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
Valuation in 2019 20,000 - - - 20,000
Cost 460,000 10,040 471,674 25,455 967,169
480,000 10,040 471,674 25,455 987,169

PROFIXED INTERIORS LIMITED (REGISTERED NUMBER: 06168053)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST OR VALUATION
At 1 April 2022 183,105
Additions 134,918
Transfer to ownership (49,180 )
At 31 March 2023 268,843
DEPRECIATION
At 1 April 2022 103,851
Charge for year 52,347
Transfer to ownership (34,499 )
At 31 March 2023 121,699
NET BOOK VALUE
At 31 March 2023 147,144
At 31 March 2022 79,254

5. STOCKS
2023 2022
£    £   
Work-in-progress 269,579 246,677

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,725,170 2,301,795
Other debtors 829,797 705,552
Tax - 40,660
VAT 179,512 281,611
Prepayments and accrued income 2,591 2,260
3,737,070 3,331,878

PROFIXED INTERIORS LIMITED (REGISTERED NUMBER: 06168053)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 28,571 370,937
Other loans 24,094 23,091
Hire purchase contracts 71,437 34,346
Trade creditors 1,156,294 1,503,140
Tax 406,290 32,974
Social security and other taxes 54,247 42,323
Other creditors 12,556 182,071
Directors' loan account 221,648 40,288
Accrued expenses 4,600 4,300
1,979,737 2,233,470

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 4,762 33,333
Other loans - 1-2 years 14,542 24,094
Other loans - 2-5 years - 14,542
Hire purchase contracts 101,115 38,349
120,419 110,318

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 131,400 112,007

Deferred
tax
£   
Balance at 1 April 2022 112,007
Movement 19,393
Balance at 31 March 2023 131,400

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

11. RELATED PARTY DISCLOSURES

Included within other debtors is an amount totalling £868 (2022 - £868) due from Shadow Wall Limited, a company with associated directors.

CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PROFIXED INTERIORS LIMITED


The following reproduces the text of the report prepared for the directors 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 Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors 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 Profixed Interiors Limited for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Profixed Interiors Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Profixed Interiors Limited and state those matters that we have agreed to state to the Board of Directors of Profixed Interiors Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Profixed Interiors 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 Profixed Interiors Limited. You consider that Profixed Interiors 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 Profixed Interiors 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.






Wettone Matthews Limited
Chartered Certified Accountants
Market House
21 Lenten Street
Alton
GU34 1HG


16 November 2023