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REGISTERED NUMBER: 08087569 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Profile Professional Services Ltd

Profile Professional Services Ltd (Registered number: 08087569)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Profile Professional Services Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTOR: L Fosh





REGISTERED OFFICE: Boston House
Grove Business Park
Downsview Road
Wantage
Oxfordshire
OX12 9FF





REGISTERED NUMBER: 08087569 (England and Wales)





ACCOUNTANTS: Webb Teasdale Accountancy Ltd
Boston House
Grove Business Park
Downsview Road
Wantage
Oxfordshire
OX12 9FF

Profile Professional Services Ltd (Registered number: 08087569)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 7,734 9,746
7,734 9,746

CURRENT ASSETS
Stocks 3,616 7,584
Debtors 6 26,160 218
Cash at bank 22,789 23,590
52,565 31,392
CREDITORS
Amounts falling due within one year 7 45,797 27,451
NET CURRENT ASSETS 6,768 3,941
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,502

13,687

CREDITORS
Amounts falling due after more than one
year

8

-

(5,478

)

PROVISIONS FOR LIABILITIES (1,688 ) (1,888 )
NET ASSETS 12,814 6,321

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 12,714 6,221
SHAREHOLDERS' FUNDS 12,814 6,321

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

Profile Professional Services Ltd (Registered number: 08087569)

Balance Sheet - continued
31 May 2024


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 8 July 2024 and were signed by:





L Fosh - Director


Profile Professional Services Ltd (Registered number: 08087569)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Profile Professional Services Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of three years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% straight line
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% straight line

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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 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.

Profile Professional Services Ltd (Registered number: 08087569)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 10,500
AMORTISATION
At 1 June 2023
and 31 May 2024 10,500
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 47,997 450 29,088 2,655 80,190
Additions - - - 1,183 1,183
Disposals (28,236 ) - - - (28,236 )
At 31 May 2024 19,761 450 29,088 3,838 53,137
DEPRECIATION
At 1 June 2023 47,141 197 22,442 664 70,444
Charge for year 676 63 1,662 794 3,195
Eliminated on disposal (28,236 ) - - - (28,236 )
At 31 May 2024 19,581 260 24,104 1,458 45,403
NET BOOK VALUE
At 31 May 2024 180 190 4,984 2,380 7,734
At 31 May 2023 856 253 6,646 1,991 9,746

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 25,920 -
Other debtors 240 218
26,160 218

Profile Professional Services Ltd (Registered number: 08087569)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,054 6,414
Taxation and social security 38,267 18,442
Other creditors 2,476 2,595
45,797 27,451

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 5,054
Other creditors - 424
- 5,478

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Directors loans are repayable on demand, and are interest free up to a limit of £10000 above which interest will be charged at the HMC specified rate.

As at 31st May 2024 the Company owed the Director £1,146.06.