Profitlink Group Limited - Accounts to registrar (filleted) - small 22.3

Profitlink Group Limited - Accounts to registrar (filleted) - small 22.3

PROFITLINK GROUP LIMITED - Company Information

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REGISTERED NUMBER: 04668680 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 MARCH 2022

FOR

PROFITLINK GROUP LIMITED
PROFITLINK GROUP LIMITED (REGISTERED NUMBER: 04668680)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROFITLINK GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 MARCH 2022







DIRECTOR: Mr R Chamberlain





REGISTERED OFFICE: Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA





REGISTERED NUMBER: 04668680 (England and Wales)





ACCOUNTANTS: TGFP
Chartered Accountants
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA
Page 1
PROFITLINK GROUP LIMITED (REGISTERED NUMBER: 04668680)

BALANCE SHEET
30 MARCH 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,886 3,395

CURRENT ASSETS
Debtors 5 68,326 80,794
Cash at bank and in hand 10,595 5,743
78,921 86,537
CREDITORS
Amounts falling due within one year 6 61,541 63,989
NET CURRENT ASSETS 17,380 22,548
TOTAL ASSETS LESS CURRENT
LIABILITIES
20,266
25,943

CREDITORS
Amounts falling due after more than one
year
7
20,211
24,500
NET ASSETS 55 1,443

CAPITAL AND RESERVES
Called up and paid share capital 1,300 1,300
Retained earnings (1,245 ) 143
SHAREHOLDERS' FUNDS 55 1,443

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 2022 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 notes form part of these financial statements

Page 2 continued...
PROFITLINK GROUP LIMITED (REGISTERED NUMBER: 04668680)

BALANCE SHEET - continued
30 MARCH 2022


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 November 2022 and were signed by:





Mr R Chamberlain - Director


The notes form part of these financial statements

Page 3
PROFITLINK GROUP LIMITED (REGISTERED NUMBER: 04668680)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2022


1. STATUTORY INFORMATION

Profitlink Group 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

Government grants
Grant income received from the COVID-19 Job Retention Scheme has been recognised in the period in which the related staff expense was incurred. The income has been recognised in other operating income.

Financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.


Page 4 continued...
PROFITLINK GROUP LIMITED (REGISTERED NUMBER: 04668680)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MARCH 2022


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.

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 4 (2021 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 31 March 2021
and 30 March 2022 16,701
DEPRECIATION
At 31 March 2021 13,306
Charge for year 509
At 30 March 2022 13,815
NET BOOK VALUE
At 30 March 2022 2,886
At 30 March 2021 3,395

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 6,912 7,200
Other debtors 61,414 73,594
68,326 80,794

Page 5 continued...
PROFITLINK GROUP LIMITED (REGISTERED NUMBER: 04668680)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 MARCH 2022


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 25,265 30,550
Trade creditors 3,280 4,106
Taxation and social security 26,590 27,963
Other creditors 6,406 1,370
61,541 63,989

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 20,211 24,500

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 500

Page 6