IRIS Accounts Production v24.1.0.578 12980072 Board of Directors 1.11.22 31.10.23 31.10.23 Consultancy services 0 0 false true false false true false 0 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh129800722022-10-31129800722023-10-31129800722022-11-012023-10-31129800722021-10-31129800722021-11-012022-10-31129800722022-10-3112980072ns15:EnglandWales2022-11-012023-10-3112980072ns14:USDollar2022-11-012023-10-3112980072ns10:Director12022-11-012023-10-3112980072ns10:PrivateLimitedCompanyLtd2022-11-012023-10-3112980072ns10:SmallEntities2022-11-012023-10-3112980072ns10:AuditExempt-NoAccountantsReport2022-11-012023-10-3112980072ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-3112980072ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-3112980072ns10:FullAccounts2022-11-012023-10-3112980072ns10:Director22022-11-012023-10-3112980072ns10:RegisteredOffice2022-11-012023-10-3112980072ns5:CurrentFinancialInstruments2023-10-3112980072ns5:CurrentFinancialInstruments2022-10-3112980072ns5:Non-currentFinancialInstruments2023-10-3112980072ns5:Non-currentFinancialInstruments2022-10-3112980072ns5:ShareCapital2023-10-3112980072ns5:ShareCapital2022-10-3112980072ns5:RetainedEarningsAccumulatedLosses2023-10-3112980072ns5:RetainedEarningsAccumulatedLosses2022-10-3112980072ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2023-10-3112980072ns5:Non-currentFinancialInstrumentsns5:AfterOneYear2022-10-31
REGISTERED NUMBER: 12980072 (England and Wales)















Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 October 2023

for

PROFEX SERVICE LIMITED

PROFEX SERVICE LIMITED (REGISTERED NUMBER: 12980072)






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




Page

Company Information 1

Report of the Directors 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


PROFEX SERVICE LIMITED

Company Information
for the Year Ended 31 October 2023







DIRECTORS: J E Thompson
Buckingham Directors Limited





REGISTERED OFFICE: 19 Leyden Street
London
E1 7LE





REGISTERED NUMBER: 12980072 (England and Wales)





ACCOUNTANTS: Trustige Limited
4th Floor, Portman House,
2 Portman Street
London
W1H 6DU

PROFEX SERVICE LIMITED (REGISTERED NUMBER: 12980072)

Report of the Directors
for the Year Ended 31 October 2023

The directors present their report with the financial statements of the company for the year ended 31 October 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 November 2022 to the date of this report.

J E Thompson
Buckingham Directors Limited

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





J E Thompson - Director


7 August 2024

PROFEX SERVICE LIMITED (REGISTERED NUMBER: 12980072)

Income Statement
for the Year Ended 31 October 2023

2023 2022
$    $   

TURNOVER 6,230,973 1,701,505

Cost of sales 5,251,206 1,538,161
GROSS PROFIT 979,767 163,344

Administrative expenses 1,041,886 9,831
(62,119 ) 153,513

Other operating income - 6,399
OPERATING (LOSS)/PROFIT (62,119 ) 159,912


Interest payable and similar expenses 197 -
(LOSS)/PROFIT BEFORE TAXATION (62,316 ) 159,912

Tax on (loss)/profit 181,920 30,384
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(244,236

)

129,528

PROFEX SERVICE LIMITED (REGISTERED NUMBER: 12980072)

Balance Sheet
31 October 2023

2023 2022
Notes $    $   
CURRENT ASSETS
Debtors 4 5,910,125 -
Cash at bank 214,785 181,699
6,124,910 181,699
CREDITORS
Amounts falling due within one year 5 5,381,864 234,431
NET CURRENT ASSETS/(LIABILITIES) 743,046 (52,732 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

743,046

(52,732

)

CREDITORS
Amounts falling due after more than one
year

6

(168,438

)

1,369

PROVISIONS FOR LIABILITIES (870,207 ) -
NET LIABILITIES (295,599 ) (51,363 )

CAPITAL AND RESERVES
Called up share capital 1,369 1,369
Retained earnings (296,968 ) (52,732 )
(295,599 ) (51,363 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 7 August 2024 and were signed on its behalf by:





J E Thompson - Director


PROFEX SERVICE LIMITED (REGISTERED NUMBER: 12980072)

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

1. STATUTORY INFORMATION

Profex Service 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.

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 NIL (2022 - NIL).

4. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
$    $   
Trade debtors 5,910,125 -

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
$    $   
Trade creditors 199,999 200,000
Taxation and social security 181,920 30,569
Other creditors 4,999,945 3,862
5,381,864 234,431

PROFEX SERVICE LIMITED (REGISTERED NUMBER: 12980072)

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

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
$    $   
Other creditors 168,438 (1,369 )