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REGISTERED NUMBER: 10916099 (England and Wales)












THE PSYCHOLOGY NEST LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






THE PSYCHOLOGY NEST LIMITED (REGISTERED NUMBER: 10916099)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE PSYCHOLOGY NEST LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Dr L E Gosling
Mr C J Gosling





REGISTERED OFFICE: Wallace House
20 Birmingham Road
Walsall
West Midlands
WS1 2LT





REGISTERED NUMBER: 10916099 (England and Wales)





ACCOUNTANTS: Wallace Crooke Walsall Limited
Chartered Accountants
Wallace House
20 Birmingham Road
Walsall
West Midlands
WS1 2LT

THE PSYCHOLOGY NEST LIMITED (REGISTERED NUMBER: 10916099)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 248 657

CURRENT ASSETS
Debtors 5 - 9,148
Cash at bank 140 863
140 10,011
CREDITORS
Amounts falling due within one year 6 9,870 21,389
NET CURRENT LIABILITIES (9,730 ) (11,378 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(9,482

)

(10,721

)

CREDITORS
Amounts falling due after more than one
year

7

2,793

3,985
NET LIABILITIES (12,275 ) (14,706 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (12,375 ) (14,806 )
SHAREHOLDERS' FUNDS (12,275 ) (14,706 )

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 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.

THE PSYCHOLOGY NEST LIMITED (REGISTERED NUMBER: 10916099)

BALANCE SHEET - continued
31 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2023 and were signed on its behalf by:





Dr L E Gosling - Director


THE PSYCHOLOGY NEST LIMITED (REGISTERED NUMBER: 10916099)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

The Psychology Nest 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.

The company's financial statements are individual entity financial statements.

The company's financial statements are presented in Sterling and all values are rounded to the nearest pound.

Going Concern
The financial statements have been prepared on a going concern basis not withstanding the deficit in shareholders' funds of £12,275 (2022: £14,706). The directors have a reasonable expectation that the company has access to adequate resources to continue in operational existence for the foreseeable future. They have considered a period of 12 months from the date of the approval of these financial statements. Therefore, the directors have continued to adopt a going concern basis.

If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce balance sheet values of assets to their recoverable amounts, and to provide for further liabilities that might arise, and to reclassify fixed assets and long term liabilities as current assets and liabilities respectively.

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.
Computer equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred 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 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.


THE PSYCHOLOGY NEST LIMITED (REGISTERED NUMBER: 10916099)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2022 2,319
Disposals (1,327 )
At 31 March 2023 992
DEPRECIATION
At 1 April 2022 1,662
Charge for year 248
Eliminated on disposal (1,166 )
At 31 March 2023 744
NET BOOK VALUE
At 31 March 2023 248
At 31 March 2022 657

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 9,148

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 1,192 1,162
Trade creditors - 2,779
Other creditors 8,678 17,448
9,870 21,389

THE PSYCHOLOGY NEST LIMITED (REGISTERED NUMBER: 10916099)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 2,793 3,985

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100