Registered number
10343153
PSK Properties Ltd
Filleted Accounts
31 August 2023
PSK Properties Ltd
Registered number: 10343153
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 526,740 526,740
Current assets
Cash at bank and in hand 1,563 2,132
Creditors: amounts falling due within one year 4 (228,681) (136,280)
Net current liabilities (227,118) (134,148)
Total assets less current liabilities 299,622 392,592
Creditors: amounts falling due after more than one year 5 (275,025) (368,757)
Net assets 24,597 23,835
Capital and reserves
Called up share capital 2 2
Revaluation reserve 6 23,700 23,700
Profit and loss account 895 133
Shareholders' funds 24,597 23,835
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P Kataria
Director
Approved by the board on 21 February 2024
PSK Properties Ltd
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold land and buildings Not depreciated
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 September 2022 526,740
At 31 August 2023 526,740
Depreciation
At 31 August 2023 -
Net book value
At 31 August 2023 526,740
At 31 August 2022 526,740
4 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 179 1,206
Other creditors 228,502 135,074
228,681 136,280
5 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 275,025 368,757
6 Revaluation reserve 2023 2022
£ £
At 1 September 2022 23,700 23,700
At 31 August 2023 23,700 23,700
7 Other information
PSK Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is:
20-22 Wenlock Road
London
England
N1 7GU
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