3 3 Profal Limited 2631482 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is that of metal stockholders Digita Accounts Production Advanced 6.30.9574.0 true true 2631482 2024-01-01 2024-12-31 2631482 2024-12-31 2631482 core:CurrentFinancialInstruments 2024-12-31 2631482 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 2631482 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 2631482 core:ConstructionInProgressAssetsUnderConstruction 2024-12-31 2631482 core:LandBuildings 2024-12-31 2631482 core:MotorVehicles 2024-12-31 2631482 core:OtherPropertyPlantEquipment 2024-12-31 2631482 bus:SmallEntities 2024-01-01 2024-12-31 2631482 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 2631482 bus:FilletedAccounts 2024-01-01 2024-12-31 2631482 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 2631482 bus:RegisteredOffice 2024-01-01 2024-12-31 2631482 bus:Director4 2024-01-01 2024-12-31 2631482 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 2631482 core:ConstructionInProgressAssetsUnderConstruction 2024-01-01 2024-12-31 2631482 core:LandBuildings 2024-01-01 2024-12-31 2631482 core:MotorVehicles 2024-01-01 2024-12-31 2631482 core:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 2631482 core:PlantMachinery 2024-01-01 2024-12-31 2631482 countries:EnglandWales 2024-01-01 2024-12-31 2631482 2023-12-31 2631482 core:ConstructionInProgressAssetsUnderConstruction 2023-12-31 2631482 core:LandBuildings 2023-12-31 2631482 core:MotorVehicles 2023-12-31 2631482 core:OtherPropertyPlantEquipment 2023-12-31 2631482 2023-01-01 2023-12-31 2631482 2023-12-31 2631482 core:CurrentFinancialInstruments 2023-12-31 2631482 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 2631482 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 2631482 core:ConstructionInProgressAssetsUnderConstruction 2023-12-31 2631482 core:LandBuildings 2023-12-31 2631482 core:MotorVehicles 2023-12-31 2631482 core:OtherPropertyPlantEquipment 2023-12-31 xbrli:pure iso4217:GBP

Registration number: 2631482

Profal Limited

Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Profal Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Profal Limited

(Registration number: 2631482)
Statement of Financial Position as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

241,799

259,379

Investment property

5

5,609,000

5,609,000

 

5,850,799

5,868,379

Current assets

 

Stocks

6

13,037

20,968

Debtors

7

10,732

14,724

Cash at bank and in hand

 

936,639

872,737

 

960,408

908,429

Creditors: Amounts falling due within one year

8

(149,490)

(133,349)

Net current assets

 

810,918

775,080

Total assets less current liabilities

 

6,661,717

6,643,459

Creditors: Amounts falling due after more than one year

8

(4,171,367)

(4,228,014)

Provisions for liabilities

(451,215)

(295,590)

Net assets

 

2,039,135

2,119,855

Capital and reserves

 

Called up share capital

34

34

Fair value reserve

1,439,400

1,583,590

Retained earnings

599,701

536,231

Shareholders' funds

 

2,039,135

2,119,855

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 16 July 2025
 

 

Profal Limited

(Registration number: 2631482)
Statement of Financial Position as at 31 December 2024

.........................................
Mr M R Atherton
Director

   
     
 

Profal Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Bourne Works
Sefton Street
Chadderton
Oldham
Lancashire
OL9 7LX
United Kingdom

These financial statements were authorised for issue by the director on 16 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency is £ stering.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Profal Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting dtae and a valuation allowance is set up against deferred tax assets so that the carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% straight line

Motor vehicles

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Profal Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

 

Profal Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Land and buildings
£

Motor vehicles
 £

Property improvements
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2024

178,200

65,523

96,239

87,846

427,808

At 31 December 2024

178,200

65,523

96,239

87,846

427,808

Depreciation

At 1 January 2024

-

33,698

46,885

87,846

168,429

Charge for the year

-

7,956

9,624

-

17,580

At 31 December 2024

-

41,654

56,509

87,846

186,009

Carrying amount

At 31 December 2024

178,200

23,869

39,730

-

241,799

At 31 December 2023

178,200

31,825

49,354

-

259,379

5

Investment properties

2024
£

At 1 January

5,609,000

At 31 December

5,609,000

The director has valued the investment properties based on his knowledge and are on an open market basis.

There has been no valuation of investment property by an independent valuer.

6

Stocks

2024
£

2023
£

Raw materials and consumables

13,037

20,968

 

Profal Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

7

Debtors

2024
£

2023
£

Trade debtors

6,140

8,463

Prepayments

4,592

6,261

10,732

14,724

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

65,912

65,412

Trade creditors

 

19,434

36,223

Taxation and social security

 

47,555

18,082

Accruals and deferred income

 

2,835

2,262

Other creditors

 

13,754

11,370

 

149,490

133,349

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

2,995,342

3,051,989

Other creditors

 

1,176,025

1,176,025

 

4,171,367

4,228,014