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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30TH JUNE 2022 |
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PROTOCOL FINANCE SOLUTIONS LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30TH JUNE 2022 |
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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 30TH JUNE 2022 |
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Company Information | 1 |
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Statement of Financial Position | 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 30TH JUNE 2022 |
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DIRECTOR: |
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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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STATEMENT OF FINANCIAL POSITION |
30TH JUNE 2022 |
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2022 | 2021 |
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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Capital redemption reserve | 8 |
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Other reserves | 8 | ( |
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Retained earnings | 8 |
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SHAREHOLDERS' FUNDS |
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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. |
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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 director and authorised for issue 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 30TH JUNE 2022 |
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1. | STATUTORY INFORMATION |
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Protocol Finance Solutions Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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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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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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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. |
PROTOCOL FINANCE SOLUTIONS LIMITED (REGISTERED NUMBER: 08104851) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2022 |
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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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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1st July 2021 |
and 30th June 2022 |
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DEPRECIATION |
At 1st July 2021 |
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Charge for year |
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At 30th June 2022 |
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NET BOOK VALUE |
At 30th June 2022 |
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At 30th June 2021 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | CALLED UP SHARE CAPITAL |
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Allotted and issued: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
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Share capital 1 | 1 | 50 | 100 |
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Share capital 2 | 1 | 50 | 100 |
100 | 200 |
PROTOCOL FINANCE SOLUTIONS LIMITED (REGISTERED NUMBER: 08104851) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH JUNE 2022 |
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8. | RESERVES |
Capital |
Retained | redemption | Other |
earnings | reserve | reserves | Totals |
£ | £ | £ | £ |
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At 1st July 2021 |
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46,534 |
Profit for the year |
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Dividends | ( |
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Purchase of own shares | - | 100 | (13 | ) | 87 |
At 30th June 2022 |
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9. | RELATED PARTY DISCLOSURES |
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J Levy - Former Director |
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2022 | 2021 |
£ | £ |
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Advances by the director to the company | 4,632 | 41,526 |
Payments by the company to the director | 60,840 | 69,780 |
Dividends paid to director | 57,750 | 27,000 |
Balance due (to)/from the director at the balance sheet date | - | 1,542 |
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H L Eida |
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2022 | 2021 |
£ | £ |
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Advances by the director to the company | 9,990 | 18,520 |
Payments by the company to the director | 96,882 | 69,780 |
Dividends paid to director | 77,750 | 51,420 |
Balance due (to)/from the director at the balance sheet date | 7,402 | (1,740 | ) |
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10. | ULTIMATE CONTROLLING PARTY |
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The controlling party is H L Eida. |
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
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 director 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 Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director 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 30th June 2022 which comprise the Income Statement, Statement of Financial Position 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 director of Protocol Finance Solutions Limited 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 director of Protocol Finance Solutions Limited 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 and its director 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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