Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-312023-02-01falseMarket research and public opinion polling11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08844756 2023-02-01 2024-01-31 08844756 2022-02-01 2023-01-31 08844756 2024-01-31 08844756 2023-01-31 08844756 c:Director1 2023-02-01 2024-01-31 08844756 d:FurnitureFittings 2023-02-01 2024-01-31 08844756 d:FurnitureFittings 2024-01-31 08844756 d:FurnitureFittings 2023-01-31 08844756 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 08844756 d:ComputerEquipment 2023-02-01 2024-01-31 08844756 d:ComputerEquipment 2024-01-31 08844756 d:ComputerEquipment 2023-01-31 08844756 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 08844756 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 08844756 d:CurrentFinancialInstruments 2024-01-31 08844756 d:CurrentFinancialInstruments 2023-01-31 08844756 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 08844756 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 08844756 d:ShareCapital 2024-01-31 08844756 d:ShareCapital 2023-01-31 08844756 d:RetainedEarningsAccumulatedLosses 2024-01-31 08844756 d:RetainedEarningsAccumulatedLosses 2023-01-31 08844756 c:FRS102 2023-02-01 2024-01-31 08844756 c:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 08844756 c:FullAccounts 2023-02-01 2024-01-31 08844756 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 08844756 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 08844756









PROFILE PROSPECTING LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
PROFILE PROSPECTING LIMITED
 
 
  
REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PROFILE PROSPECTING LIMITED
FOR THE YEAR ENDED 31ST JANUARY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Profile Prospecting Limited for the year ended 31st January 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountantswe are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal .com/uk/en/about-us /regulation/ethics /acca-rulebook.html.

This report is made solely to the director of Profile Prospecting Limited in accordance with the terms of our engagement letter dated 25 October 2024Our work has been undertaken solely to prepare for your approval the financial statements of Profile Prospecting Limited and state those matters that we have agreed to state to the director of PROFILE PROSPECTING LIMITED in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal .com/content/dam/ACCA_Global /Technical /fact/technical-factsheet -163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Profile Prospecting Limited and its director for our work or for this report. 

It is your duty to ensure that Profile Prospecting Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Profile Prospecting Limited. You consider that Profile Prospecting Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Profile Prospecting Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Fraser Russell Limited
 
77 Francis Road
Edgbaston
Birmingham
West Midlands
B16 8SP

30 October 2024
Page 1

 
PROFILE PROSPECTING LIMITED
REGISTERED NUMBER: 08844756

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,865
8,336

  
6,865
8,336

Current assets
  

Debtors: amounts falling due within one year
 5 
14,881
17,348

Cash at bank and in hand
 6 
7
1

  
14,888
17,349

Creditors: amounts falling due within one year
 7 
(33,622)
(32,703)

Net current liabilities
  
 
 
(18,734)
 
 
(15,354)

Total assets less current liabilities
  
(11,869)
(7,018)

  

Net liabilities
  
(11,869)
(7,018)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(11,969)
(7,118)

  
(11,869)
(7,018)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 October 2024.



Page 2

 
PROFILE PROSPECTING LIMITED
REGISTERED NUMBER: 08844756
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024


Riffaat Ashraf Powell
Director

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
PROFILE PROSPECTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024

1.


General information

Profile Prospecting Limited is a company limited by shares incorporated in England within the United Kingdom, having a registration of 08844756. The address of the registered office is 77 Francis Road, Edgbaston, Birmingham, B16 8SP. The principal activity of the company in the year under review was that of providing business opportunities.
The financial statements are presented in sterling which is functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below.  These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements has been prepared on a going concern basis which assumes that the company will continue to receive support from creditors and the director as and when required.

Page 4

 
PROFILE PROSPECTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and loss account in the same period as the related expenditure.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 5

 
PROFILE PROSPECTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
15%
Computer equipment
-
15%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 6

 
PROFILE PROSPECTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024

4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 February 2023
12,180
10,163
22,343



At 31st January 2024

12,180
10,163
22,343



Depreciation


At 1 February 2023
7,661
6,346
14,007


Charge for the year on owned assets
797
674
1,471



At 31st January 2024

8,458
7,020
15,478



Net book value



At 31st January 2024
3,722
3,143
6,865



At 31st January 2023
4,519
3,817
8,336


5.


Debtors

2024
2023
£
£


Trade debtors
6,676
7,396

Other debtors
8,205
9,952

14,881
17,348



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
7
1

7
1


Page 7

 
PROFILE PROSPECTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
-
1,057

Trade creditors
-
2,095

Corporation tax
35
35

Other taxation and social security
33,587
25,820

Accruals and deferred income
-
3,696

33,622
32,703



8.


Controlling party

During the year, the company was owned under the control of Mrs Riffaat Ashraf Powell.

 
Page 8