|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company registration number:09306829
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFINEST UK LIMITED
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL STATEMENTS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FOR THE YEAR ENDED 31 July 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFINEST UK LIMITED |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BALANCE SHEET |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AS AT 31 July 2023
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2023 |
|
2022 |
|
|
|
|
|
Notes |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS | | | | | | | | | | | |
Tangible assets | | | 3 | | | 3,863 | | | | 5,150 | |
|
|
|
|
|
|
|
|
|
|
|
|
|
| | | | | | | 3,863 | | | | 5,150 | |
|
|
|
|
|
|
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
|
|
|
|
|
Stocks | | | | 4,383 | | | | 5,518 | | | | |
Debtors | | | 4 | 5,226 | | | | 5,014 | | | | |
Cash at bank and in hand | | | | 367 | | | | 38,462 | | | | |
|
|
|
|
|
|
|
|
|
|
|
|
|
| | | | | 9,976 | | | | 48,994 | | | |
|
|
|
|
|
|
|
|
|
|
|
|
|
CREDITORS |
|
|
|
|
|
|
|
|
|
|
|
Amounts falling due within one year |
|
5 |
(130,360) |
|
|
|
(130,782) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NET CURRENT ASSETS |
|
|
|
|
|
(120,384) |
|
|
|
(81,788) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL ASSETS LESS |
|
|
|
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
(116,521) |
|
|
|
(76,638) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors falling due after one year | | 6 | | | (39,283) | | | | (44,718) | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NET ASSETS |
|
|
|
|
|
(155,804) |
|
|
|
(121,356) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CAPITAL AND RESERVES |
|
|
|
|
|
|
|
|
|
|
|
Called-up equity share capital |
|
7 |
|
|
10,000 |
|
|
|
10,000 |
|
Profit and loss account |
|
|
|
|
|
(165,804) |
|
|
|
(131,356) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
(155,804) |
|
|
|
(121,356) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the year ending 31 July 2023 the company was entitled to exemption 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the 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. Approved by the board of directors on 6 February 2024 and signed on its behalf. | | | | | | | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies' regime. | | | | | | | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
.......................................................................... |
Mrs Pui Shan Nicole Ying |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6 February 2024
|
|
|
|
|
|
|
|
|
|
|
|
The annexed notes form part of these financial statements. | | | | | | | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| | | | | | | |
PROFINEST UK LIMITED | | | | | | |
| | | | | | | |
STATEMENT OF CHANGES IN EQUITY | | | | | | |
|
FOR THE YEAR ENDED 31 JULY 2023 | | |
|
|
|
|
|
Share |
Share |
P and L |
Revaluation |
Other |
Total |
|
|
|
|
Capital |
Premium |
Account |
reserve |
reserves |
equity |
|
|
|
|
£ |
£ |
£ |
£ |
£ |
£ |
Balance at 1 August 2021 | | 10,000 | 0 | (93,705) | 0 | 0 | (83,705) |
| | | | | | | | | | | |
Changes in equity | | | | | | | | | | |
Total Comprehensive Income | | 0 | 0 | (37,651) | 0 | 0 | (37,651) |
Balance at 31 July 2022 | | 10,000 | 0 | (131,356) | 0 | 0 | (121,356) |
| | | | | | | | | | | |
Changes in equity | | | | | | | | | | |
Total comprehensive income | | 0 | 0 | (34,448) | 0 | 0 | (34,448) |
Balance at 31 July 2023 | | 10,000 | 0 | (165,804) | 0 | 0 | (155,804) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFINEST UK LIMITED |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NOTES TO THE FINANCIAL STATEMENTS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FOR THE YEAR ENDED 31 JULY 2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1. |
Accounting policies |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Statutory information | | | | | | | |
| The company is registered in England and its registered number is 09306829. The company is a private company limited by shares. Its registered office is Unit G5b Fort Dunlop, Fort Parkway, Birmingham, B24 | |
| |
| | | | | | | | | | |
| | | | | | | | | | |
|
|
|
|
Basis of preparing the financial statements |
|
|
|
|
|
|
|
|
The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Turnover | | | | | | | | | |
| Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. | |
| |
| |
| Foreign Currency | | | | | | | | |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit. | |
| |
| |
| |
| |
| Fixed Assets | | | | | | | | |
| Tangible fixed assets are stated at cost less depreciation. Depreciation i provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows: | |
| | | | | | | | | | |
|
|
|
|
|
|
|
|
|
|
|
| Plant and Machinery 25% on reducing balance basi | |
| |
|
|
|
|
|
|
|
|
|
|
|
| Stocks and Work In Progress | | | | | | | |
| Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost. | |
| |
| | | | | | | | | | |
| Government grants | | | | | | | |
| The Coronavirus Job Retention Scheme Grant is recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. The first 12 months interest on the Bounce Bank Loan is recognised in the period it is payable. |
|
|
| | | | | | | | | | |
| | | | | | | | | | |
| Pension Scheme | | | | | | | | |
| The company operates a defined contribution pension scheme, NEST pension scheme, and the pension charge represents the amounts payable by the company to the fund in respect of the year. | |
| |
| |
| | | | | | | | | | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2. | Employees | | | |
| | | | | | |
| The average number of persons employed by the company (including directors) during the year was 3. |
| | | | | | | | | | |
|
|
|
|
|
|
|
|
|
|
|
|
| | | | | | | | | | | |
3. | Tangible fixed assets | | | | | | | | | |
| | | | | | | | | | | |
|
|
|
|
Plant |
Total |
|
| | | | | | | | | | | |
| Cost | | | | | | | | | | |
| At start of period | |
20,935 |
20,935 | |
| At end of period | |
20,935 |
20,935 | |
| | | | | | | | | | | |
| Depreciation | | | | | | | | | | |
| At start of period | |
15,785 |
15,785 | |
| Provided during the period |
1,287 |
1,287 | |
| At end of period | |
17,072 |
17,072 | |
| | | | | | | | | | | |
| Net Book Value | | | | | | | | | |
| At start of period | |
5,150 |
5,150 | |
| At end of period | |
3,863 |
3,863 | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| | | | | | | | | |
4. | Debtors | | | | | | | |
| | | | | 2023 | 2022 | | | |
| | | | | £ | £ | | | |
| Due within one year | | | | | | | |
| Trade Debtors | | | 4,915 | 0 | | | |
| Other Debtors | | | 311 | 4,093 | | | |
| Prepayments and accrued income | | 0 | 921 | | | |
| | | | | | | | | |
| | | | | 5,226 | 5,014 | | | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5. | Creditors due within one year | | | | | |
| | | | | 2023 | 2022 | | |
| | | | | £ | £ | | |
|
|
|
|
|
|
|
|
|
| Trade creditors | | | 220 | 1,192 | | |
| Bank Loans and Overdrafts | | | 5,434 | 5,282 | | |
| Other taxes and social security costs | | 771 | 908 | | |
| Other creditors | | | 0 | 7,835 | | |
| Accruals and deferred income | | 3,501 | 3,742 | | |
| Loan from directors | | | 120,434 | 111,823 | | |
|
|
|
|
|
|
|
|
|
| | | | | 130,360 | 130,782 | | |
| | | | | | | | |
6. | Creditors due after one year | | | | | |
| | | | | 2023 | 2022 | | |
| | | | | £ | £ | | |
| | | | | | | | |
| Bank Loans | | 39,283 | 44,718 | | |
| | | | | | | | |
| | | | | 39,283 | 44,718 | | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7. |
Share capital |
|
|
Alloted, Issued and fully paid |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2023 |
2022 |
|
|
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Ordinary shares of £100 each | | | 10,000 | 10,000 | | | |
| Total issued share capital | | | 10,000 | 10,000 | | | |
|
|
|
|
|
|
|
|
|
|
| | | | | | | | | | |
| | | | | | | | | | |
|
|
|
|
|
|
|
|
|
|
|