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Registered number: 10054611
Profile Construction Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
AP Accounting Solutions Limited
The Mill House
Erw Hir
Llantrisant
Pontyclun
CF72 8BY
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10054611
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 52,833 44,651
52,833 44,651
CURRENT ASSETS
Stocks 5 590 687
Debtors 6 5,357 9,473
Cash at bank and in hand 17,031 11,751
22,978 21,911
Creditors: Amounts Falling Due Within One Year 7 (25,654 ) (33,882 )
NET CURRENT ASSETS (LIABILITIES) (2,676 ) (11,971 )
TOTAL ASSETS LESS CURRENT LIABILITIES 50,157 32,680
Creditors: Amounts Falling Due After More Than One Year 8 (20,668 ) (32,526 )
NET ASSETS 29,489 154
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 29,389 54
SHAREHOLDERS' FUNDS 29,489 154
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Tobiasz Szczap
Director
22/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Profile Construction Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10054611 . The registered office is 11 Hazel Grove, Bristol, BS7 0NG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% Straight Line
Motor Vehicles 15% Straight Line
Computer Equipment 25% Straight Line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
Page 3
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4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 333 62,166 866 63,365
Additions 359 18,695 - 19,054
Disposals - (10,518 ) - (10,518 )
As at 31 March 2024 692 70,343 866 71,901
Depreciation
As at 1 April 2023 150 18,264 300 18,714
Provided during the period 103 10,552 216 10,871
Disposals - (10,517 ) - (10,517 )
As at 31 March 2024 253 18,299 516 19,068
Net Book Value
As at 31 March 2024 439 52,044 350 52,833
As at 1 April 2023 183 43,902 566 44,651
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Motor Vehicles 36,154 43,901
5. Stocks
2024 2023
£ £
Materials 590 687
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 829 844
Other debtors 4,528 4,520
VAT - 4,109
5,357 9,473
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 11,858 11,858
Trade creditors 1,601 11,884
Other taxes and social security 29 650
VAT 3,199 -
Accruals and deferred income 21 21
Director's loan account 8,946 9,469
25,654 33,882
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 20,668 32,526
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 11,858 11,858
Later than one year and not later than five years 20,668 32,526
32,526 44,384
32,526 44,384
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Tobiasz Szczap (9,469 ) 25,328 (24,805 ) - (8,946 )
The above loan is unsecured, interest free and repayable on demand.
Dividends paid to directors
2024 2023
£ £
Mr Tobiasz Szczap 1,000 11,600
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