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REGISTERED NUMBER: 10539325 (England and Wales)












Report of the Director and

Financial Statements

for the Year Ended 31 December 2023

for

Proform Interiors Limited

Proform Interiors Limited (Registered number: 10539325)






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




Page

Company Information 1

Report of the Director 2

Statement of Income and Retained Earnings 3

Balance Sheet 4

Notes to the Financial Statements 5


Proform Interiors Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: Edward Harris





REGISTERED OFFICE: Unit 2 Diddenham Court
Lambwood Hill
Grazeley
Reading
Berkshire
RG7 1JQ





BUSINESS ADDRESS: 23 Wispington Close
Lower Earley
Reading
Berkshire
RG6 3BN





REGISTERED NUMBER: 10539325 (England and Wales)





ACCOUNTANTS: Campbell Parker
Unit 2 Diddenham Court
Lambwood Hill
Grazeley
Reading
Berkshire
RG7 1JQ

Proform Interiors Limited (Registered number: 10539325)

Report of the Director
for the Year Ended 31 December 2023

The director presents his report with the financial statements of the company for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of carpentry and joinery.

DIVIDENDS
An interim dividend of £100,000.00 per share was paid on 31 December 2023. The director recommends that no final dividend be paid.

The total distribution of dividends for the year ended 31 December 2023 will be £ 100,000 .

DIRECTOR
Edward Harris held office during the whole of the period from 1 January 2023 to the date of this report.

ON BEHALF OF THE BOARD:





Edward Harris - Director


7 August 2024

Proform Interiors Limited (Registered number: 10539325)

Statement of Income and Retained Earnings
for the Year Ended 31 December 2023

31.12.23 31.12.22
Notes £    £   

TURNOVER 1,952,255 1,152,827

Cost of sales 1,292,531 765,141
GROSS PROFIT 659,724 387,686

Administrative expenses 51,528 48,883
608,196 338,803

Other operating income - 16,863
OPERATING PROFIT 4 608,196 355,666


Interest payable and similar expenses 2,078 1,044
PROFIT BEFORE TAXATION 606,118 354,622

Tax on profit 5 143,210 66,160
PROFIT FOR THE FINANCIAL YEAR 462,908 288,462

Retained earnings at beginning of year 325,740 127,278

Dividends (100,000 ) (90,000 )

RETAINED EARNINGS AT END OF YEAR 688,648 325,740

Proform Interiors Limited (Registered number: 10539325)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 6 4,979 4,427

CURRENT ASSETS
Stocks - 15,230
Debtors 7 335,792 65,735
Cash at bank 612,376 407,097
948,168 488,062
CREDITORS
Amounts falling due within one year 8 249,059 142,767
NET CURRENT ASSETS 699,109 345,295
TOTAL ASSETS LESS CURRENT LIABILITIES 704,088 349,722

CREDITORS
Amounts falling due after more than one
year

9

(14,268

)

(23,140

)

PROVISIONS FOR LIABILITIES 10 (1,171 ) (841 )
NET ASSETS 688,649 325,741

CAPITAL AND RESERVES
Called up share capital 11 1 1
Retained earnings 12 688,648 325,740
SHAREHOLDERS' FUNDS 688,649 325,741

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

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

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 director and authorised for issue on 7 August 2024 and were signed by:




Edward Harris - Director


Proform Interiors Limited (Registered number: 10539325)

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

1. STATUTORY INFORMATION

Proform 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.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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

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 Statement of Income and Retained Earnings, 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 1 (2022 - 1 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

31.12.23 31.12.22
£    £   
Depreciation - owned assets 1,064 3,650

Proform Interiors Limited (Registered number: 10539325)

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

5. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31.12.23 31.12.22
£    £   
Current tax:
UK corporation tax 142,404 66,096
Late penalties & interest 476 -
Total current tax 142,880 66,096

Deferred tax 330 64
Tax on profit 143,210 66,160

UK corporation tax has been charged at 23.52% (2022 - 19%).

6. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 January 2023 4,724 4,834 9,558
Additions 405 1,211 1,616
At 31 December 2023 5,129 6,045 11,174
DEPRECIATION
At 1 January 2023 3,717 1,414 5,131
Charge for year 454 610 1,064
At 31 December 2023 4,171 2,024 6,195
NET BOOK VALUE
At 31 December 2023 958 4,021 4,979
At 31 December 2022 1,007 3,420 4,427

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 93,199 23,920
Directors' current accounts 181,795 13,827
VAT 60,798 27,988
335,792 65,735

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,648 10,648
Trade creditors 82,692 56,658
Tax 142,404 67,733
Social security and other taxes 10,015 4,428
Accrued expenses 3,300 3,300
249,059 142,767

Proform Interiors Limited (Registered number: 10539325)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans - 1-2 years 10,648 10,648
Bank loans - 2-5 years 3,620 12,492
14,268 23,140

10. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax
Accelerated capital allowances 1,171 841

Deferred
tax
£   
Balance at 1 January 2023 841
Provided during year 330
Balance at 31 December 2023 1,171

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1 Ordinary £1 1 1

12. RESERVES
Retained
earnings
£   

At 1 January 2023 325,740
Profit for the year 462,908
Dividends (100,000 )
At 31 December 2023 688,648

13. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
Edward Harris
Balance outstanding at start of year 13,827 (335 )
Amounts advanced 280,668 114,760
Amounts repaid (112,700 ) (100,598 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 181,795 13,827

Proform Interiors Limited (Registered number: 10539325)

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

13. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES - continued

The company operates from premises owned personally by the director. A payment of £880.00 (2022: £800.000 was made by the company as a contribution towards all the premises costs incurred by him and for which the company received a benefit.

14. RELATED PARTY DISCLOSURES

During the year, total dividends of £100,000 (2022 - £90,000) were paid to the director .

15. ULTIMATE CONTROLLING PARTY

The controlling party is Edward Harris.