IRIS Accounts Production v24.2.0.383 11344780 director 1.6.23 31.5.24 31.5.24 0 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh113447802023-05-31113447802024-05-31113447802023-06-012024-05-31113447802022-05-31113447802022-06-012023-05-31113447802023-05-3111344780ns15:EnglandWales2023-06-012024-05-3111344780ns14:PoundSterling2023-06-012024-05-3111344780ns10:Director12023-06-012024-05-3111344780ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3111344780ns10:SmallEntities2023-06-012024-05-3111344780ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3111344780ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3111344780ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3111344780ns10:FullAccounts2023-06-012024-05-3111344780ns10:OrdinaryShareClass12023-06-012024-05-3111344780ns10:RegisteredOffice2023-06-012024-05-3111344780ns5:CurrentFinancialInstruments2024-05-3111344780ns5:CurrentFinancialInstruments2023-05-3111344780ns5:Non-currentFinancialInstruments2024-05-3111344780ns5:Non-currentFinancialInstruments2023-05-3111344780ns5:ShareCapital2024-05-3111344780ns5:ShareCapital2023-05-3111344780ns5:RetainedEarningsAccumulatedLosses2024-05-3111344780ns5:RetainedEarningsAccumulatedLosses2023-05-3111344780ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-3111344780ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-3111344780ns10:OrdinaryShareClass12024-05-31
REGISTERED NUMBER: 11344780 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Profile Online Ltd

Profile Online Ltd (Registered number: 11344780)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Profile Online Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTOR: K Timana





REGISTERED OFFICE: c/o Locke Williams Associates LLP
Blackthorn House
St Pauls Square
Birmingham
West Midlands
B3 1RL





REGISTERED NUMBER: 11344780 (England and Wales)





ACCOUNTANTS: Locke Williams Associates LLP
Chartered Accountants
c/o Blackthorn House
St Pauls Square
Birmingham
West Midlands
B3 1RL

Profile Online Ltd (Registered number: 11344780)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £   
CURRENT ASSETS
Stocks 5,150 5,150
Debtors 4 19,616 17,837
Cash at bank 3,343 12,901
28,109 35,888
CREDITORS
Amounts falling due within one year 5 6,203 6,714
NET CURRENT ASSETS 21,906 29,174
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,906

29,174

CREDITORS
Amounts falling due after more than one
year

6

32,620

37,268
NET LIABILITIES (10,714 ) (8,094 )

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings (10,814 ) (8,194 )
SHAREHOLDERS' FUNDS (10,714 ) (8,094 )

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.

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 17 February 2025 and were signed by:



K Timana - Director


Profile Online Ltd (Registered number: 11344780)

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

1. STATUTORY INFORMATION

Profile Online 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.

Going concern
There was a net deficiency of assets at the balance sheet date, however the director has provided assurances of continued support to the company, through the provision of loans to the company through associated companies.
These loans will not be repaid ahead of other third party liabilities, until such time as the company has surplus operating cash flow available to do so. On the reliance of this support, the financial statements have been prepared on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Creditors which are debt instrument, such as loans and finance leases, are subsequently carried at amortised cost, using the effective interest rate method.

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.


Profile Online Ltd (Registered number: 11344780)

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

2. ACCOUNTING POLICIES - continued
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 NIL (2023 - 1 ).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Amounts owed by participating interests 10,500 10,500
Amounts owed by associates 8,779 7,000
Other debtors 337 337
19,616 17,837

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 4,642 4,432
Other creditors 1,561 2,282
6,203 6,714

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 32,620 37,268

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 11,819 17,406

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
100 Ordinary £1 100 100