Silverfin false 31/03/2023 01/04/2022 31/03/2023 Mr N J Turner 29/03/2022 05 February 2024 The principle activity of the company is retailer of bicycle products. 01276319 2023-03-31 01276319 bus:Director1 2023-03-31 01276319 2022-03-31 01276319 core:CurrentFinancialInstruments 2023-03-31 01276319 core:CurrentFinancialInstruments 2022-03-31 01276319 core:ShareCapital 2023-03-31 01276319 core:ShareCapital 2022-03-31 01276319 core:RevaluationReserve 2023-03-31 01276319 core:RevaluationReserve 2022-03-31 01276319 core:RetainedEarningsAccumulatedLosses 2023-03-31 01276319 core:RetainedEarningsAccumulatedLosses 2022-03-31 01276319 core:LandBuildings 2022-03-31 01276319 core:PlantMachinery 2022-03-31 01276319 core:FurnitureFittings 2022-03-31 01276319 core:OfficeEquipment 2022-03-31 01276319 core:LandBuildings 2023-03-31 01276319 core:PlantMachinery 2023-03-31 01276319 core:FurnitureFittings 2023-03-31 01276319 core:OfficeEquipment 2023-03-31 01276319 bus:OrdinaryShareClass1 2023-03-31 01276319 2022-04-01 2023-03-31 01276319 bus:FullAccounts 2022-04-01 2023-03-31 01276319 bus:SmallEntities 2022-04-01 2023-03-31 01276319 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 01276319 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 01276319 bus:Director1 2022-04-01 2023-03-31 01276319 1 2022-04-01 2023-03-31 01276319 core:LandBuildings core:TopRangeValue 2022-04-01 2023-03-31 01276319 core:PlantMachinery 2022-04-01 2023-03-31 01276319 core:FurnitureFittings 2022-04-01 2023-03-31 01276319 core:OfficeEquipment core:TopRangeValue 2022-04-01 2023-03-31 01276319 2021-04-01 2022-03-31 01276319 core:LandBuildings 2022-04-01 2023-03-31 01276319 core:OfficeEquipment 2022-04-01 2023-03-31 01276319 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 01276319 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 01276319 (England and Wales)

PS123 LIMITED
(Formerly Peter Hansford Limited)

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

PS123 LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

PS123 LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2023
PS123 LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2023
DIRECTOR Mr N J Turner
REGISTERED OFFICE 1 London Road
Southampton
SO15 2AE
England
United Kingdom
COMPANY NUMBER 01276319 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Hitchcock House
Hilltop Park
Devizes Road
Salisbury
Wiltshire SP3 4UF
PS123 LIMITED

BALANCE SHEET

As at 31 March 2023
PS123 LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 0 333,508
0 333,508
Current assets
Stocks 4 0 106,335
Debtors 5 15,104 9,983
Cash at bank and in hand 6 517,825 698
532,929 117,016
Creditors: amounts falling due within one year 7 ( 65,984) ( 100,315)
Net current assets 466,945 16,701
Total assets less current liabilities 466,945 350,209
Net assets 466,945 350,209
Capital and reserves
Called-up share capital 8 100 100
Revaluation reserve 0 293,910
Profit and loss account 466,845 56,199
Total shareholders' funds 466,945 350,209

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of PS123 Limited (registered number: 01276319) were approved and authorised for issue by the Director on 05 February 2024. They were signed on its behalf by:

Mr N J Turner
Director
PS123 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
PS123 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

PS123 Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1 London Road, Southampton, SO15 2AE, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery 15 % reducing balance
Fixtures and fittings 15 % reducing balance
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 10 13

3. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 April 2022 494,422 2,429 153,530 16,505 666,886
Disposals ( 494,422) ( 2,429) ( 153,530) ( 16,505) ( 666,886)
At 31 March 2023 0 0 0 0 0
Accumulated depreciation
At 01 April 2022 166,910 1,963 148,000 16,505 333,378
Disposals ( 166,910) ( 1,963) ( 148,000) ( 16,505) ( 333,378)
At 31 March 2023 0 0 0 0 0
Net book value
At 31 March 2023 0 0 0 0 0
At 31 March 2022 327,512 466 5,530 0 333,508

4. Stocks

2023 2022
£ £
Stocks 0 106,335

5. Debtors

2023 2022
£ £
Prepayments 0 2,138
VAT recoverable 10,984 2,415
Other debtors 4,120 5,430
15,104 9,983

6. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 517,825 698
Less: Bank overdrafts 0 ( 27,826)
517,825 (27,128)

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank overdrafts 0 27,826
Trade creditors 2,108 43,262
Accruals 10,779 3,940
Taxation and social security 26,318 0
Other creditors 26,779 25,287
65,984 100,315

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100