Profit Counts Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC257932 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

PROFIT COUNTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

B H Sheppard BAcc CA

REGISTERED OFFICE:

13 Glasgow Road

Paisley

Renfrewshire

PA1 3QS

REGISTERED NUMBER:

SC257932 (Scotland)

ACCOUNTANTS:

Profit Counts Limited

13 Glasgow Road

Paisley

Renfrewshire

PA1 3QS

FIXED ASSETS

Tangible assets

4

25

25

CURRENT ASSETS

Debtors

5

142,843

71,893

Cash at bank

19,105

52,933

161,948

124,826

CREDITORS

Amounts falling due within one year

6

80,346

66,816

NET CURRENT ASSETS

81,602

58,010

TOTAL ASSETS LESS CURRENT LIABILITIES

81,627

58,035

CREDITORS

Amounts falling due after more than one year

7

21,667

31,667

NET ASSETS

59,960

26,368

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

59,958

26,366

SHAREHOLDERS' FUNDS

59,960

26,368

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 31 December 2023 and were signed by:

B H Sheppard BAcc CA - Director

1.	STATUTORY INFORMATION

Profit Counts Limited is a private company, limited by shares , registered in Scotland. 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.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on cost

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 6 (2022 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2022

and 31 March 2023

33,705

DEPRECIATION

At 1 April 2022

and 31 March 2023

33,680

NET BOOK VALUE

At 31 March 2023

25

At 31 March 2022

25

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Debtors

84,684

71,893

Other debtors

58,159

-

142,843

71,893

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

37,426

34,579

Taxation and social security

32,920

20,257

Other creditors

-

1,980

80,346

66,816

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

21,667

31,667

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

2

Ordinary

£1

2

2

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the financial year end the director owed the Company £58,159. SInce the financial year end this balance has been repaid in full. Interest was charged at 3% per annum on the monthly balance outstanding to the company. At the previous financial year end the Company owed the director £1,980.