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REGISTERED NUMBER: 14741559 (England and Wales)









Unaudited Financial Statements

for the Period 20 March 2023 to 31 October 2023

for

PSM INVESTMENTS (BRIDGE STREET) LTD

PSM INVESTMENTS (BRIDGE STREET) LTD (REGISTERED NUMBER: 14741559)

Contents of the Financial Statements
FOR THE PERIOD 20 MARCH 2023 TO 31 OCTOBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PSM INVESTMENTS (BRIDGE STREET) LTD

Company Information
FOR THE PERIOD 20 MARCH 2023 TO 31 OCTOBER 2023







DIRECTORS: P J Medlock
S J Medlock
M Green





REGISTERED OFFICE: Suite 4 St Georges Lodge
33 Oakfield Road
Bath
BA2 3NE





REGISTERED NUMBER: 14741559 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
6-8 Bath Street
Bristol
BS1 6HL

PSM INVESTMENTS (BRIDGE STREET) LTD (REGISTERED NUMBER: 14741559)

Balance Sheet
31 OCTOBER 2023

Notes £   
FIXED ASSETS
Investment property 4 830,780

CURRENT ASSETS
Debtors 5 16,026
Cash at bank 28,639
44,665
CREDITORS
Amounts falling due within one year 6 (876,061 )
NET CURRENT LIABILITIES (831,396 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(616

)

CAPITAL AND RESERVES
Called up share capital 7 100
Retained earnings (716 )
SHAREHOLDERS' FUNDS (616 )

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:




M Green - Director


PSM INVESTMENTS (BRIDGE STREET) LTD (REGISTERED NUMBER: 14741559)

Notes to the Financial Statements
FOR THE PERIOD 20 MARCH 2023 TO 31 OCTOBER 2023


1. COMPANY INFORMATION

PSM Investments (Bridge Street) Ltd 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.

The company's principal activities during the period under review was that of letting and operating of own real estate.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts and other sales related taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

PSM INVESTMENTS (BRIDGE STREET) LTD (REGISTERED NUMBER: 14741559)

Notes to the Financial Statements - continued
FOR THE PERIOD 20 MARCH 2023 TO 31 OCTOBER 2023


2. ACCOUNTING POLICIES - continued

Financial assets
Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Financial liabilities
Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 830,780
At 31 October 2023 830,780
NET BOOK VALUE
At 31 October 2023 830,780

The valuations of investment properties were made as at 31 October 2023 by the directors on an open market basis. No depreciation is provided in respect of these properties.

On an historical cost basis these would have been included at an original cost of £830,780.

PSM INVESTMENTS (BRIDGE STREET) LTD (REGISTERED NUMBER: 14741559)

Notes to the Financial Statements - continued
FOR THE PERIOD 20 MARCH 2023 TO 31 OCTOBER 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 12,390
Prepayments and accrued income 3,636
16,026

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 7,142
Amounts owed to group 852,547
VAT 4,304
Accruals and deferred income 12,068
876,061

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
100 Ordinary 1 100

8. RELATED PARTY DISCLOSURES

PSM Investments Limited is the parent company. During the year PSM Investments Limited advanced loans of £852,547 to the company. At the period end the company owed £852,547 (2022: £Nil) to PSM Investments Limited. Interest is charged on the loan at 4.60% per annum and has no set date of repayment.