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Registration number: 02232721

PSH (Croydon) Ltd

Unaudited Filleted Abridged Financial Statements

for the Period from 24 June 2022 to 30 June 2023

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PSH (Croydon) Ltd

Contents

Company Information

1

Abridged Balance Sheet

2

Notes to the Unaudited Abridged Financial Statements

3 to 4

 

PSH (Croydon) Ltd

Company Information

Directors

Mr Geoffrey Randall

Mr Yaser Hachem Martini

Company secretary

Mrs Claire Laura Gray

Registered office

9 The Clares
Caterham
Surrey
CR3 6RW

Accountants

Integer
Chartered Accountant
Unit 3, Upp Hall Farm
Salmons Lane
Colchester
Essex
CO6 1RY

 

PSH (Croydon) Ltd

(Registration number: 02232721)
Abridged Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

392

Cash at bank and in hand

 

80,251

571,666

 

80,255

572,058

Creditors: Amounts falling due within one year

(77,918)

(272,465)

Total assets less current liabilities

 

2,337

299,593

Accruals and deferred income

 

-

(3,500)

Net assets

 

2,337

296,093

Capital and reserves

 

Called up share capital

3

2

2

Retained earnings

2,335

296,091

Shareholders' funds

 

2,337

296,093

For the financial period ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 February 2024 and signed on its behalf by:
 

.........................................
Mr Geoffrey Randall
Director

 

PSH (Croydon) Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 24 June 2022 to 30 June 2023

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises revenue recognised by the company in respect of the sale of properties and rental and other income receivable during the year, exclusive of Value Added Tax.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers in respect of rent and other income receivable in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

PSH (Croydon) Ltd

Notes to the Unaudited Abridged Financial Statements for the Period from 24 June 2022 to 30 June 2023

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

2

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2022 - 2).

3

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         

4

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £148,500 (2022 - £472,500) per ordinary share

 

297,000

 

945,000

         

5

Related party transactions

Summary of transactions with parent

The company is wholly owned by Portman Square Holdings Ltd. At 30th June 2023 the company owed £70,918 (2022 : £272,464) to Portman Square Holdings Ltd.
 The loan is interest free and as no fixed repayment terms.
 

6

Parent and ultimate parent undertaking

The company's immediate parent is Portman Square Holdings Ltd, incorporated in England.