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REGISTERED NUMBER: 03220009 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

PROFERCY LIMITED

PROFERCY LIMITED (REGISTERED NUMBER: 03220009)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROFERCY LIMITED

COMPANY INFORMATION
for the year ended 31 January 2024







DIRECTORS: Mrs S A Yearsley
C Yearsley



REGISTERED OFFICE: Highdown House
11 Highdown Road
Leamington Spa
Warwickshire
CV31 1XT



REGISTERED NUMBER: 03220009 (England and Wales)



BANKERS: Lloyds TSB Bank Plc
147 High Street
Guildford
Surrey
GH1 3AG

PROFERCY LIMITED (REGISTERED NUMBER: 03220009)

BALANCE SHEET
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,688 4,860
Tangible assets 5 10,084 6,917
12,772 11,777

CURRENT ASSETS
Debtors 6 122,446 216,903
Cash at bank 1,681,444 1,353,505
1,803,890 1,570,408
CREDITORS
Amounts falling due within one year 7 856,801 754,288
NET CURRENT ASSETS 947,089 816,120
TOTAL ASSETS LESS CURRENT
LIABILITIES

959,861

827,897

PROVISIONS FOR LIABILITIES 2,423 1,314
NET ASSETS 957,438 826,583

CAPITAL AND RESERVES
Called up share capital 8 107,402 107,402
Retained earnings 850,036 719,181
SHAREHOLDERS' FUNDS 957,438 826,583

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

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

PROFERCY LIMITED (REGISTERED NUMBER: 03220009)

BALANCE SHEET - continued
31 January 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 Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





C Yearsley - Director


PROFERCY LIMITED (REGISTERED NUMBER: 03220009)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 January 2024

1. STATUTORY INFORMATION

Profercy 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The financial statements are presented in sterling which is the functional currency of the company and is rounded to the nearest £1.

Turnover
Turnover comprises the value of gross invoiced sales (excluding any trade discounts) of goods and services provided in the normal course of business. Revenue is recognised in respect of the service contracts when the company obtains the right to consideration.

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.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - Straight line over 3 years

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.

PROFERCY LIMITED (REGISTERED NUMBER: 03220009)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 February 2023
and 31 January 2024 10,860
AMORTISATION
At 1 February 2023 6,000
Charge for year 2,172
At 31 January 2024 8,172
NET BOOK VALUE
At 31 January 2024 2,688
At 31 January 2023 4,860

PROFERCY LIMITED (REGISTERED NUMBER: 03220009)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 February 2023 31,336 41,828 73,164
Additions 1,731 4,994 6,725
Disposals - (36,050 ) (36,050 )
At 31 January 2024 33,067 10,772 43,839
DEPRECIATION
At 1 February 2023 26,710 39,537 66,247
Charge for year 852 2,706 3,558
Eliminated on disposal - (36,050 ) (36,050 )
At 31 January 2024 27,562 6,193 33,755
NET BOOK VALUE
At 31 January 2024 5,505 4,579 10,084
At 31 January 2023 4,626 2,291 6,917

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 85,291 149,750
Other debtors 37,155 67,153
122,446 216,903

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 119,109 141,598
Other creditors 737,692 612,690
856,801 754,288

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
71,602 Ordinary £1 71,602 71,602
17,900 Ordinary B £1 17,900 17,900
17,900 Ordinary C £1 17,900 17,900
107,402 107,402

PROFERCY LIMITED (REGISTERED NUMBER: 03220009)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

9. PENSION COMMITMENTS

The company operates a defined contribution pension scheme in respect of the directors and employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £39,048 (2023 - £7,176). Balance outstanding at the period end amounted to £1,690 (2023 - £8,031).

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Interest has been charged on the directors loan account in accordance with HMRC official rate.

11. CONTROLLING INTERESTS

The directors are considered to be the ultimate controlling parties by virtue of their ability to act in concert in respect of the financial and operating policies of the company.