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REGISTERED NUMBER: 11218731 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

PBS Innovations Ltd

PBS Innovations Ltd (Registered number: 11218731)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PBS Innovations Ltd

Company Information
for the Year Ended 31 July 2023







Director: L T Vanono





Registered office: 37 Maunders Road
Milton
Stoke-On-Trent
Staffordshire
ST2 7DU





Registered number: 11218731 (England and Wales)





Accountants: Ellis & Co
Chartered Accountants
114-120 Northgate Street
Chester
CH1 2HT

PBS Innovations Ltd (Registered number: 11218731)

Statement of Financial Position
31 July 2023

31/7/23 31/7/22
Notes £    £    £    £   
Fixed assets
Intangible assets 4 5,959 6,704
Tangible assets 5 - 53
5,959 6,757

Current assets
Debtors 6 - 1,909
Cash at bank 3,105 -
3,105 1,909
Creditors
Amounts falling due within one year 7 14,203 10,394
Net current liabilities (11,098 ) (8,485 )
Total assets less current liabilities (5,139 ) (1,728 )

Capital and reserves
Called up share capital 100 100
Retained earnings (5,239 ) (1,828 )
(5,139 ) (1,728 )

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

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

The director acknowledges her 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.

PBS Innovations Ltd (Registered number: 11218731)

Statement of Financial Position - continued
31 July 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 31 July 2024 and were signed by:





L T Vanono - Director


PBS Innovations Ltd (Registered number: 11218731)

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

1. Statutory information

PBS Innovations 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost

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 statement of financial position date.


PBS Innovations Ltd (Registered number: 11218731)

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

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Going concern
The financial statements have been prepared on the going concern basis of accounting, on the assumption that the director will continue to provide financial support to enable the company to meet its liabilities, which exceeded its assets at 31 July 2023.

3. Employees and directors

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

4. Intangible fixed assets
Patents
£   
Cost
At 1 August 2022
and 31 July 2023 7,449
Amortisation
At 1 August 2022 745
Amortisation for year 745
At 31 July 2023 1,490
Net book value
At 31 July 2023 5,959
At 31 July 2022 6,704

PBS Innovations Ltd (Registered number: 11218731)

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

5. Tangible fixed assets
Fixtures
and
fittings
£   
Cost
At 1 August 2022
and 31 July 2023 262
Depreciation
At 1 August 2022 209
Charge for year 53
At 31 July 2023 262
Net book value
At 31 July 2023 -
At 31 July 2022 53

6. Debtors: amounts falling due within one year
31/7/23 31/7/22
£    £   
Trade debtors - 1,909

7. Creditors: amounts falling due within one year
31/7/23 31/7/22
£    £   
Bank loans and overdrafts - 1,511
Other creditors 14,203 8,883
14,203 10,394

8. Related party disclosures

The director has made loans to the company. The balance on these loans at 31 July 2023 was £6,821 (2022 - £2,334). The loans are interest-free and repayable on demand.