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REGISTERED NUMBER: 06301310 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 July 2023

for

Profibre Limited

Profibre Limited (Registered number: 06301310)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Profibre Limited

Company Information
for the Year Ended 31 July 2023







DIRECTOR: D Cooke





SECRETARY: Mrs N Cooke





REGISTERED OFFICE: Maritime House
Discovery Quay
Falmouth
Cornwall
TR11 3XA





REGISTERED NUMBER: 06301310 (England and Wales)





ACCOUNTANTS: Briants Chartered Accountants
Maritime House
Discovery Quay
Falmouth
Cornwall
TR11 3XA

Profibre Limited (Registered number: 06301310)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,472 16,455

CURRENT ASSETS
Stocks 5 1,500 12,610
Debtors 6 5,646 23,960
Cash at bank 143,398 155,281
150,544 191,851
CREDITORS
Amounts falling due within one year 7 72,341 84,017
NET CURRENT ASSETS 78,203 107,834
TOTAL ASSETS LESS CURRENT
LIABILITIES

92,675

124,289

CREDITORS
Amounts falling due after more than one
year

8

(9,042

)

(13,042

)

PROVISIONS FOR LIABILITIES (2,750 ) (3,127 )
NET ASSETS 80,883 108,120

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 80,882 108,119
SHAREHOLDERS' FUNDS 80,883 108,120

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 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.

Profibre Limited (Registered number: 06301310)

Balance Sheet - continued
31 July 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 director and authorised for issue on 23 April 2024 and were signed by:





D Cooke - Director


Profibre Limited (Registered number: 06301310)

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

1. STATUTORY INFORMATION

Profibre 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.

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.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Profibre Limited (Registered number: 06301310)

Notes to the Financial Statements - continued
for the Year Ended 31 July 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 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2022 42,099 19,025 1,987 63,111
Additions - 16,000 - 16,000
Disposals - (17,525 ) - (17,525 )
At 31 July 2023 42,099 17,500 1,987 61,586
DEPRECIATION
At 1 August 2022 31,417 13,976 1,263 46,656
Charge for year 2,670 10,692 239 13,601
Eliminated on disposal - (13,143 ) - (13,143 )
At 31 July 2023 34,087 11,525 1,502 47,114
NET BOOK VALUE
At 31 July 2023 8,012 5,975 485 14,472
At 31 July 2022 10,682 5,049 724 16,455

Profibre Limited (Registered number: 06301310)

Notes to the Financial Statements - continued
for the Year Ended 31 July 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
At 1 August 2022 11,000
Disposals (11,000 )
At 31 July 2023 -
DEPRECIATION
At 1 August 2022 8,701
Eliminated on disposal (8,701 )
At 31 July 2023 -
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 2,299

5. STOCKS
2023 2022
£    £   
Stocks 1,500 1,500
Work-in-progress - 11,110
1,500 12,610

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 4,434 23,280
Other debtors 485 264
Prepayments 727 416
5,646 23,960

Profibre Limited (Registered number: 06301310)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 4,000 4,000
Hire purchase contracts - 3,228
Trade creditors 25,652 27,312
Tax 6,827 24,723
Social security and other taxes 313 -
VAT 4,309 1,404
Directors' current accounts 29,389 21,544
Accrued expenses 1,851 1,806
72,341 84,017

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Other loans - 1-2 years 9,042 13,042

9. ULTIMATE CONTROLLING PARTY

The controlling party is D Cooke.