Professional H E Services Limited - Accounts to registrar (filleted) - small 22.3
Professional H E Services Limited - Accounts to registrar (filleted) - small 22.3
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 July 2022 |
| for |
| Professional H E Services Limited |
| Professional H E Services Limited (Registered number: 08080702) |
| Contents of the Financial Statements |
| for the Year Ended 31 July 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Professional H E Services Limited |
| Company Information |
| for the Year Ended 31 July 2022 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| The Point |
| Granite Way |
| Mountsorrel |
| Loughborough |
| Leicestershire |
| LE12 7TZ |
| Professional H E Services Limited (Registered number: 08080702) |
| Balance Sheet |
| 31 July 2022 |
| 31.7.22 | 31.7.21 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| RESERVES |
| Other Reserves | 6 |
| Income and expenditure account | 6 |
| 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 surplus or deficit 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. |
| 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 |
| Professional H E Services Limited (Registered number: 08080702) |
| Notes to the Financial Statements |
| for the Year Ended 31 July 2022 |
| 1. | STATUTORY INFORMATION |
| Professional H E Services Limited is a |
| 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 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. |
| These financial statements have been prepared in compliance with applicable legislation except that they have departed from the Companies Act restriction of merger accounting to group reconstructions in order to achieve a fair presentation. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.7.22 | 31.7.21 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Professional H E Services Limited (Registered number: 08080702) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 July 2022 |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.7.22 | 31.7.21 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 6. | RESERVES |
| Income |
| and |
| expenditure | Other |
| account | Reserves | Totals |
| £ | £ | £ |
| At 1 August 2021 | 1,773,749 |
| Surplus for the year |
| At 31 July 2022 | 2,033,217 |
| 7. | RELATED PARTY DISCLOSURES |
| One of the directors' Kim Frost in addition to his small salary, was paid an additional £2,000 for his services at the UHR Conference during the financial year. |
| 8. | MERGER |
| On 1st August 2021 Professional HE Services Limited ( PHES ) and the Association of University Legal Practitioners ( AULP ) merged. |
| Under the Companies Act, the required accounting treatment for this is as a business combination that is in substance a gift. However, as there is no change in the ultimate ownership of AULP, it is the view of the Directors that this accounting treatment would not be consistent with a true and fair presentation of the financial position and performance of Professional HE Services Limited and will be applying merger accounting. Therefore 2020 figures have been restated to include AULP for the full year and the position as at the balance sheet date as at 31st July 2021. |
| Profit / (Loss) for the year ended 31st July 2022 : |
| Amount relating to PHES £313,690 |
| Amount relating to AULP £ 6,857 |
| Total NET Profits for year £320,547 |
| NET Assets as at 31st July 2021 : |
| Amount relating to PHES £1,020,585 |
| Amount relating to AULP £52,885 |
| Total NET Assets as at 31st July 2020 £1,073,470 |