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Registered Number: OC415888
England and Wales

 

 

 

THE PROFITS WIZARD LLP



Abridged Accounts
 


Period of accounts

Start date: 01 March 2024

End date: 31 March 2025

The Profits Wizard LLP
Contents Page
For the Period 01 March 2024 to 31 March 2025
As described on the balance sheet you are responsible for the preparation of the financial statements for the period ended 31 March 2025 and you consider that the company is exempt from an audit under the Companies Act 2006.

As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW),
we are subject to its ethical and other professional requirements which are detailed at http://icaew.com/membershandbook. 


This report is made solely to the members of The Profits Wizard LLP, as a body, in accordance with
the terms of our engagement letter dated 28 August 2024.


Our work has been undertaken solely to prepare for your approval the accounts of The Profits Wizard  LLP and state those matters that we have agreed to state to the members of The Profits Wizard LLP, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation.



To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Profits Wizard LLP and its members as a body for our work or for this report. 


It is your duty to ensure that The Profits Wizard LLP has kept adequate accounting records to
prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and Profit of The Profit Wizard LLP.



You consider that The Profit Wizard LLP is exempt from the statutory audit requirement for the year. 


We have not been instructed to carry out an audit or a review of the accounts of The Profit Wizard LLP. In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.



....................................................
aa Chartered Accountants
6 Blenheim Court
Peppercorn Close
Peterborough
United Kingdom
PE1 2DU
16 December 2025
1
 
 		 Notes
 		 2025
£		   2024
£
Fixed assets      
Tangible fixed assets 3 308    467 
308    467 
Current assets      
Debtors 28,000    28,331 
Cash at bank and in hand 1,649    43 
29,649    28,374 
Creditors: amount falling due within one year (34,805)   (32,928)
Net current assets (5,156)   (4,554)
 
Total assets less current liabilities (4,848)   (4,087)
Creditors: amount falling due after more than one year (1,781)   (8,750)
Net assets (6,629)   (12,837)
 

Represented by:
Amounts due from members (31,683)   (23,085)
Members' other interest
Other reserves 25,054    10,248 
25,054    10,248 

(6,629)   (12,837)
 

Total members' interests
Amounts due from members 4 (31,683)   (23,085)
Members' other interests 25,054    10,248 
(6,629)   (12,837)
 


For the period ending 31 March 2025 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small LLPs.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.The LLP has opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account under section 444(1) of the Companies Act 2006.


The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006 (as applied to LLPs).

These accounts were approved by the members and signed on their behalf by:


.............................................................................
Shahzad Nawaz
Designated Member
Date approved by the members: 16 December 2025
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General Information
The Profits Wizard LLP is a limited liability partnership, registered in England and Wales, registration number OC415888, registration address 6 Blenheim Court, Peppercorn Close, Peterborough, Cambridgeshire, PE1 2DU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future.

If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.

Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 33% Reducing Balance
Computer Equipment 33% Reducing Balance
2.

Average number of employees including members

Average number of employees during the period was 2 (2024 : 2).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 March 2024 292    1,554    1,846 
Additions -    -    - 
Disposals -    -    - 
At 31 March 2025 292    1,554    1,846 
Depreciation
At 01 March 2024 292    1,087    1,379 
Charge for period -    159    159 
On disposals -    -    - 
At 31 March 2025 292    1,246    1,538 
Net book values
Closing balance as at 31 March 2025 -    308    308 
Opening balance as at 01 March 2024 -    467    467 


4.

Members' Interests

Other reserves   Loans and other debts due to members less any amounts due from members included in debtors   Total
Balance at 01 March 2024 10,248    (23,085)   (12,837)
Profit for the period available for discretionary division among members 12,089    0    12,089 
Members' interests after profit for the period 22,337    (23,085)   (748)
Drawings 0    (5,881)   (5,881)
Other movements 2,717    (2,717)   0 
Balance at 31 March 2025 25,054    (31,683)   (6,629)
 



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