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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2017 |
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PROTOCOL FINANCE SOLUTIONS LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2017 |
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FOR |
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PROTOCOL FINANCE SOLUTIONS LIMITED |
PROTOCOL FINANCE SOLUTIONS LIMITED (REGISTERED NUMBER: 08104851) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Chartered Accountants' Report | 6 |
PROTOCOL FINANCE SOLUTIONS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Russell House |
140 High Street |
Edgware |
Middlesex |
HA8 7LW |
PROTOCOL FINANCE SOLUTIONS LIMITED (REGISTERED NUMBER: 08104851) |
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BALANCE SHEET |
30 JUNE 2017 |
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2017 | 2016 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Retained earnings | 8 |
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SHAREHOLDERS' FUNDS |
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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 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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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PROTOCOL FINANCE SOLUTIONS LIMITED (REGISTERED NUMBER: 08104851) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2017 |
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1. | STATUTORY INFORMATION |
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Protocol Finance Solutions Limited is a
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The company's registered number and registered office address can be found on the Company Information |
page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents fees earned from the principal activity of being a financial intermediary and broker. |
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Tangible fixed assets |
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Plant and Machinery - 25% on reducing balance |
Computer Equipment - 25% on reducing balance |
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Interest payable |
Interest payable is charged to the profit and loss account on an accruals basis. |
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Basic financial assets |
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured |
at transaction price including transaction and where material are subsequently measured at amortised cost using |
the effective interest method, less any impairment. |
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Basic financial liabilities |
Basic financial liabilities, including trade and other payables and loans from company undertakings that are |
classified as debt are initially measured at transaction price unless the arrangement constitutes a financing |
transaction, where the debt instrument is measured at the present value of the future payments discounted at |
the market rate of interest . |
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Trade creditors are obligations to pay for goods or services that have been acquired that have been acquired in |
the ordinary course of business from suppliers. Accounts payables are classified as current liabilities if a |
payment is due within one year or less. If not, they are present as non current liabilities. Short term creditors are |
initially recognised at transaction price and where material are subsequently measured at amortised cost using |
the effective interest method |
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Cash and cash equivalents |
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid |
investments with original maturities of three months or less. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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PROTOCOL FINANCE SOLUTIONS LIMITED (REGISTERED NUMBER: 08104851) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2017 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 July 2016 |
and 30 June 2017 |
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DEPRECIATION |
At 1 July 2016 |
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Charge for year |
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At 30 June 2017 |
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NET BOOK VALUE |
At 30 June 2017 |
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At 30 June 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Taxation and social security |
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Other creditors |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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Ordinary 'A' | £1 | 100 | 100 |
200 | 200 |
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8. | RESERVES |
Retained |
earnings |
£ |
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At 1 July 2016 |
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Profit for the year |
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Dividends | ( |
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At 30 June 2017 |
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PROTOCOL FINANCE SOLUTIONS LIMITED (REGISTERED NUMBER: 08104851) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2017 |
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9. | RELATED PARTY DISCLOSURES |
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J Levy |
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2016 | 2015 |
£ | £ |
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Advances by the director to the company | 9,999 | 9,723 |
Payments by the company to the director | 70,463 | 51,000 |
Dividends paid to director | 60,000 | 44,000 |
Balance due (to)/from the director at the balance sheet date | (146 | ) | (610 | ) |
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H L Eida |
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2016 | 2015 |
£ | £ |
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Advances by the director to the company | 9,766 | 9,755 |
Payments by the company to the director | 70,463 | 51,000 |
Dividends paid to director | 60,000 | 44,000 |
Balance due (to)/from the director at the balance sheet date | (992 | ) | (1,689 | ) |
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10. | ULTIMATE CONTROLLING PARTY |
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The company is under the control of the directors. |
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11. | FIRST YEAR ADOPTION |
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FRS 102 (Section 1A) was adopted on 1 July 2016 The transition has not resulted in any effect on the financial |
position or performance. Therefore no reconciliation from the previous framework is required. The last Financial |
Statements date reported under the previous framework was 30 June 2016. |
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CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
PROTOCOL FINANCE SOLUTIONS LIMITED |
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The following reproduces the text of the report prepared for the directors and members in respect of the |
company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is |
only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other |
primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Protocol Finance Solutions Limited for the year ended 30 June 2017 which comprise the Income |
Statement, Balance Sheet and the related notes from the company's accounting records and from information and |
explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of Protocol Finance Solutions Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Protocol Finance Solutions Limited and state those matters that we have agreed to state to the Board of Directors of Protocol Finance Solutions Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Protocol Finance Solutions Limited Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Protocol Finance Solutions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Protocol Finance Solutions Limited. You consider that Protocol Finance Solutions Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Protocol Finance Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Accountants |
Russell House |
140 High Street |
Edgware |
Middlesex |
HA8 7LW |
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