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REGISTERED NUMBER: 05432801 (England and Wales)















Financial Statements For The Year Ended 31st March 2023

for

Process Solutions Limited

Process Solutions Limited (Registered number: 05432801)






Contents of the Financial Statements
For The Year Ended 31st March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Process Solutions Limited

Company Information
For The Year Ended 31st March 2023







DIRECTOR: Mr C Lawrence





SECRETARY: Mrs D H Lawrence





REGISTERED OFFICE: 64 High Street
Belper
Derbyshire
DE56 1GF





REGISTERED NUMBER: 05432801 (England and Wales)





ACCOUNTANTS: L& S Accountancy Services
64 High Street
Belper
Derbyshire
DE56 1GF

Process Solutions Limited (Registered number: 05432801)

Balance Sheet
31st March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 137,099 107,404
Investments 5 40,000 20,000
177,099 127,404

CURRENT ASSETS
Stocks 3,000 2,900
Debtors 6 647,750 318,738
Cash at bank 90,181 25,535
740,931 347,173
CREDITORS
Amounts falling due within one year 7 400,482 79,543
NET CURRENT ASSETS 340,449 267,630
TOTAL ASSETS LESS CURRENT
LIABILITIES

517,548

395,034

CREDITORS
Amounts falling due after more than one
year

8

(18,772

)

-

PROVISIONS FOR LIABILITIES (6,034 ) (1,251 )
NET ASSETS 492,742 393,783

CAPITAL AND RESERVES
Called up share capital 50 50
Retained earnings 492,692 393,733
492,742 393,783

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

Process Solutions Limited (Registered number: 05432801)

Balance Sheet - continued
31st March 2023


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 7th September 2023 and were signed by:





Mr C Lawrence - Director


Process Solutions Limited (Registered number: 05432801)

Notes to the Financial Statements
For The Year Ended 31st March 2023

1. STATUTORY INFORMATION

Process Solutions 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on cost
Office equipment - 15% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Process Solutions Limited (Registered number: 05432801)

Notes to the Financial Statements - continued
For The Year Ended 31st March 2023

2. ACCOUNTING POLICIES - continued

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 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Office
property machinery equipment
£    £    £   
COST
At 1st April 2022 100,819 5,143 476
Additions - - 83
At 31st March 2023 100,819 5,143 559
DEPRECIATION
At 1st April 2022 - 3,263 476
Charge for year - 516 3
At 31st March 2023 - 3,779 479
NET BOOK VALUE
At 31st March 2023 100,819 1,364 80
At 31st March 2022 100,819 1,880 -

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st April 2022 19,220 5,583 131,241
Additions 28,981 2,143 31,207
At 31st March 2023 48,201 7,726 162,448
DEPRECIATION
At 1st April 2022 14,698 5,400 23,837
Charge for year 604 389 1,512
At 31st March 2023 15,302 5,789 25,349
NET BOOK VALUE
At 31st March 2023 32,899 1,937 137,099
At 31st March 2022 4,522 183 107,404

Process Solutions Limited (Registered number: 05432801)

Notes to the Financial Statements - continued
For The Year Ended 31st March 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
Additions 28,981
At 31st March 2023 28,981
DEPRECIATION
Charge for year 604
At 31st March 2023 604
NET BOOK VALUE
At 31st March 2023 28,377

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1st April 2022 20,000
Additions 20,000
At 31st March 2023 40,000
NET BOOK VALUE
At 31st March 2023 40,000
At 31st March 2022 20,000

On 30th November 2022 the company invested funds of £20,000.00 for the purchase of shares in The Barony NP (UK) Ltd.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 407,545 87,275
Other debtors 240,205 231,463
647,750 318,738

Process Solutions Limited (Registered number: 05432801)

Notes to the Financial Statements - continued
For The Year Ended 31st March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 6,257 -
Trade creditors 253,727 28,618
Taxation and social security 112,325 47,446
Other creditors 28,173 3,479
400,482 79,543

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 18,772 -

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2023 and 31st March 2022:

2023 2022
£    £   
Mr C Lawrence
Balance outstanding at start of year 183,767 67,253
Amounts advanced - 116,514
Amounts repaid (48,562 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 135,205 183,767

10. RELATED PARTY DISCLOSURES

At 31st March 2023 Property Investment Solutions Ltd owed the sum of £43,420 (2022: £44,420) to the company, Mr. C. A. & Mrs. D. H. Lawrence are both directors and shareholders of this company.

11. ULTIMATE CONTROLLING PARTY

The Company is under the control of its Director Mr. C. A. Lawrence by virtue of his 52% holding of the ordinary share capital.