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REGISTERED NUMBER: 05962743 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

PSR Environmental Ltd

PSR Environmental Ltd (Registered number: 05962743)

Contents of the Financial Statements
for the Year Ended 31 October 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


PSR Environmental Ltd (Registered number: 05962743)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £ £
Fixed assets
Tangible assets 5 49,337 17,879

Current assets
Stocks 10,000 -
Debtors 6 133,993 94,661
Cash at bank - 42,406
143,993 137,067
Creditors
Amounts falling due within one year 7 (137,080 ) (104,222 )
Net current assets 6,913 32,845
Total assets less current liabilities 56,250 50,724

Creditors
Amounts falling due after more than one
year

8

(21,038

)

-

Provisions for liabilities (12,334 ) (3,617 )
Net assets 22,878 47,107

Capital and reserves
Called up share capital 1,000 1,000
Retained earnings 21,878 46,107
22,878 47,107

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PSR Environmental Ltd (Registered number: 05962743)

Balance Sheet - continued
31 October 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 director and authorised for issue on 27 March 2024 and were signed by:





Mr A E Riches - Director


PSR Environmental Ltd (Registered number: 05962743)

Notes to the Financial Statements
for the Year Ended 31 October 2023


1. Statutory information

PSR Environmental Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05962743

Registered office: 10 Oak Street
Fakenham
Norfolk
NR21 9DY

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

PSR Environmental Ltd (Registered number: 05962743)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


3. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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.


PSR Environmental Ltd (Registered number: 05962743)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


3. 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.

4. Employees and directors

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

5. Tangible fixed assets
Plant and Motor Computer
machinery vehicles equipment Totals
£ £ £ £
Cost
At 1 November 2022 9,753 16,000 5,739 31,492
Additions 641 55,605 - 56,246
Disposals - (16,000 ) - (16,000 )
At 31 October 2023 10,394 55,605 5,739 71,738
Depreciation
At 1 November 2022 9,229 2,000 2,384 13,613
Charge for year 233 9,408 1,147 10,788
Eliminated on disposal - (2,000 ) - (2,000 )
At 31 October 2023 9,462 9,408 3,531 22,401
Net book value
At 31 October 2023 932 46,197 2,208 49,337
At 31 October 2022 524 14,000 3,355 17,879

6. Debtors: amounts falling due within one year
31.10.23 31.10.22
£ £
Trade debtors 120,971 75,938
Amounts owed by group undertakings 9,909 16,909
Other debtors 3,113 1,814
133,993 94,661

PSR Environmental Ltd (Registered number: 05962743)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


7. Creditors: amounts falling due within one year
31.10.23 31.10.22
£ £
Bank loans and overdrafts 1,079 -
Hire purchase contracts 6,214 -
Trade creditors 92,782 66,243
Taxation and social security 20,413 34,153
Other creditors 16,592 3,826
137,080 104,222

Included in other creditors with amounts falling due within one year is an amount of £6,214 (2022: Nil) in respect of hire purchase and finance lease obligations. This is secured on the assets concerned.

8. Creditors: amounts falling due after more than one year
31.10.23 31.10.22
£ £
Hire purchase contracts 21,038 -

Included in other creditors with amounts falling due within more than one year is an amount of £21,038 (2022: Nil) in respect of hire purchase and finance lease obligations. This is secured on the assets concerned.