Company Registration No. 04961926 (England and Wales)
PROFITSEVOLUTION.CO.UK LIMITED
Unaudited accounts
for the year ended 31 May 2023
PROFITSEVOLUTION.CO.UK LIMITED
Unaudited accounts
Contents
PROFITSEVOLUTION.CO.UK LIMITED
Company Information
for the year ended 31 May 2023
Directors
M S Penn
E H Penn
Company Number
04961926 (England and Wales)
Registered Office
13 Mossley Avenue
Poole
BH12 5EA
PROFITSEVOLUTION.CO.UK LIMITED
Statement of financial position
as at 31 May 2023
Tangible assets
9,214
12,285
Investments
150,000
150,000
Cash at bank and in hand
807
3,173
Creditors: amounts falling due within one year
(31,097)
(27,842)
Net current assets
119,710
125,331
Net assets
128,924
137,616
Called up share capital
100
100
Profit and loss account
128,824
137,516
Shareholders' funds
128,924
137,616
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 November 2023 and were signed on its behalf by
M S Penn
Director
Company Registration No. 04961926
PROFITSEVOLUTION.CO.UK LIMITED
Notes to the Accounts
for the year ended 31 May 2023
PROFITSEVOLUTION.CO.UK LIMITED is a private company, limited by shares, registered in England and Wales, registration number 04961926. The registered office is 13 Mossley Avenue, Poole, BH12 5EA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Investments consists of a collection of large examples of crystal elements which are expected to continue to grow in value due to scarcity and demand.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
PROFITSEVOLUTION.CO.UK LIMITED
Notes to the Accounts
for the year ended 31 May 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 June 2022
36,370
89,030
125,400
At 31 May 2023
36,370
89,030
125,400
At 1 June 2022
34,485
78,630
113,115
Charge for the year
471
2,600
3,071
At 31 May 2023
34,956
81,230
116,186
At 31 May 2023
1,414
7,800
9,214
At 31 May 2022
1,885
10,400
12,285
5
Investments held as current assets
2023
2022
Unlisted investments
150,000
150,000
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
1,338
1,073
Loans from directors
29,330
26,208
7
Average number of employees
During the year the average number of employees was 2 (2022: 2).