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COMPANY REGISTRATION NUMBER: 08441076
The Performance Scientist Limited
Filleted Unaudited Financial Statements
30 June 2023
The Performance Scientist Limited
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
Current assets
Debtors
6
3,116
4,761
Cash at bank and in hand
1,793
16,236
-------
--------
4,909
20,997
Creditors: amounts falling due within one year
7
2,160
8,465
-------
--------
Net current assets
2,749
12,532
-------
--------
Total assets less current liabilities
2,749
12,532
-------
--------
Net assets
2,749
12,532
-------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
2,649
12,432
-------
--------
Shareholders funds
2,749
12,532
-------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 6 February 2024 , and are signed on behalf of the board by:
Ms N Mcleary
Director
Company registration number: 08441076
The Performance Scientist Limited
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 176 Brighton Road, Coulsdon, Surrey, CR5 2NF.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover consists of advertising income in respect of magazines published during the period.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
20% per annum
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Fixtures and fittings
Total
£
£
Cost
At 1 July 2022 and 30 June 2023
498
498
----
----
Depreciation
At 1 July 2022 and 30 June 2023
498
498
----
----
Carrying amount
At 30 June 2023
----
----
At 30 June 2022
----
----
6. Debtors
2023
2022
£
£
Other debtors
3,116
4,761
-------
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
1,047
Social security and other taxes
828
Other creditors
2,160
6,590
-------
-------
2,160
8,465
-------
-------
8. Related party transactions
The company was under the control of Ms N Mcleary throughout the current period. Ms N Mcleary is the managing director and majority shareholder. At 30 June 2023 Ms N McLeary owed the company £2,723 (2022: £2,299). This balance has been included in other debtors.