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REGISTERED NUMBER: 03899205 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

PSL PROPERTY LIMITED

PSL PROPERTY LIMITED (REGISTERED NUMBER: 03899205)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Chartered Certified Accountant's Report 2

Balance Sheet 3

Notes to the Financial Statements 5


PSL PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: S J Gosling
Mrs S L A D Gosling





REGISTERED OFFICE: 49 High Street
Burnham on Crouch
Essex
CM0 8AG





REGISTERED NUMBER: 03899205 (England and Wales)





ACCOUNTANT: Lescott Courts Limited
Chartered Certified Accountants
49 High Street
Burnham on Crouch
Essex
CM0 8AG

CHARTERED CERTIFIED ACCOUNTANT'S REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PSL PROPERTY LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of PSL Property Limited for the year ended 30 November 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given me.

As a practising member of the Association of Chartered Certified Accountants, I am subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of PSL Property Limited, as a body, in accordance with my terms of engagement. My work has been undertaken solely to prepare for your approval the financial statements of PSL Property Limited and state those matters that I have agreed to state to the Board of Directors of PSL Property Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for my work or for this report.

It is your duty to ensure that PSL Property Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of PSL Property Limited. You consider that PSL Property Limited is exempt from the statutory audit requirement for the year.

I have not been instructed to carry out an audit or a review of the financial statements of PSL Property Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.






Lescott Courts Limited
Chartered Certified Accountants
49 High Street
Burnham on Crouch
Essex
CM0 8AG


28 March 2024

PSL PROPERTY LIMITED (REGISTERED NUMBER: 03899205)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 510,000 510,000

CURRENT ASSETS
Debtors 5 58,298 43,298
Cash at bank 49,455 64,268
107,753 107,566
CREDITORS
Amounts falling due within one year 6 499 296,399
NET CURRENT ASSETS/(LIABILITIES) 107,254 (188,833 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

617,254

321,167

CREDITORS
Amounts falling due after more than one
year

7

293,960

-
NET ASSETS 323,294 321,167

CAPITAL AND RESERVES
Called up share capital 1 1
Revaluation reserve 13,795 13,795
Retained earnings 309,498 307,371
SHAREHOLDERS' FUNDS 323,294 321,167

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

PSL PROPERTY LIMITED (REGISTERED NUMBER: 03899205)

BALANCE SHEET - continued
30 NOVEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2024 and were signed on its behalf by:





S J Gosling - Director


PSL PROPERTY LIMITED (REGISTERED NUMBER: 03899205)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

PSL Property Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided

Foreign currencies
Loans from the parent company and to the subsidiary company are translated into sterling at the historical cost.

Other monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of transaction. Exchange differences are taken into account in arriving at the operating profit.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Freehold Free hold
property Land Totals
£    £    £   
COST
At 1 December 2022
and 30 November 2023 440,000 70,000 510,000
NET BOOK VALUE
At 30 November 2023 440,000 70,000 510,000
At 30 November 2022 440,000 70,000 510,000

PSL PROPERTY LIMITED (REGISTERED NUMBER: 03899205)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

4. TANGIBLE FIXED ASSETS - continued

The freehold property was re-valued to its open market value in September 2009 at £510,000 by Brown & Brand, Chartered Surveyors and this has been incorporated into these accounts. The revaluation reserve has been adjusted accordingly. The directors believe that the current value in the accounts represents a reasonable market value.

The original cost of the freehold property was as follows: -
Freehold Land 56,205
Freehold Buildings 465,609
-------------
£521,814
=======

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 58,298 43,298

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings - 293,960
Taxation and social security 499 2,439
499 296,399

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 293,960 -

8. ULTIMATE CONTROLLING PARTY

The controlling party is S J Gosling.

9. RELATED PARTIES

At the year end the company also owed £293,960 (2022 : £293,960) to Gosling PSL Holdings Ltd the parent company. Also the company was owed £58,298 from Poulten Selfe & Lee Ltd (2022 : £43,298) which is owned by the same parent company Gosling PSL Holdings Ltd.