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REGISTERED NUMBER: 08645276 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

PSS FINANCIAL SOLUTIONS LTD

PSS FINANCIAL SOLUTIONS LTD (REGISTERED NUMBER: 08645276)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PSS FINANCIAL SOLUTIONS LTD

COMPANY INFORMATION
for the Year Ended 31 October 2023







DIRECTORS: P Smith
Mrs C Smith





REGISTERED OFFICE: Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF





REGISTERED NUMBER: 08645276 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

PSS FINANCIAL SOLUTIONS LTD (REGISTERED NUMBER: 08645276)

BALANCE SHEET
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,602 5,255
Investments 5 262,723 157,236
266,325 162,491

CURRENT ASSETS
Debtors 6 3,370 1,439
Investments 7 175,144 113,291
Cash at bank and in hand 52,863 90,107
231,377 204,837
CREDITORS
Amounts falling due within one year 8 2,562 2,363
NET CURRENT ASSETS 228,815 202,474
TOTAL ASSETS LESS CURRENT
LIABILITIES

495,140

364,965

PROVISIONS FOR LIABILITIES - 998
NET ASSETS 495,140 363,967

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 (15,343 ) (6,209 )
Retained earnings 510,383 370,076
SHAREHOLDERS' FUNDS 495,140 363,967

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 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.

PSS FINANCIAL SOLUTIONS LTD (REGISTERED NUMBER: 08645276)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 February 2024 and were signed on its behalf by:





P Smith - Director


PSS FINANCIAL SOLUTIONS LTD (REGISTERED NUMBER: 08645276)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023


1. STATUTORY INFORMATION

PSS Financial Solutions Limited is a private company, limited by shares, registered in England. The Company's current place of business is at 2A Temple Close, Welton, Hull, HU15 1NX. The company's registered office is Beckside Court, Annie Reed Road, Beverley, East Yorkshire, HU17 0LF and the registered number is 08645276.

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

The principal activity of the business is financial consultation services.

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.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

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

Investments in associates
Investments in associate undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Taxation
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.

PSS FINANCIAL SOLUTIONS LTD (REGISTERED NUMBER: 08645276)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023


3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022
and 31 October 2023 11,160
DEPRECIATION
At 1 November 2022 5,905
Charge for year 1,653
At 31 October 2023 7,558
NET BOOK VALUE
At 31 October 2023 3,602
At 31 October 2022 5,255

5. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 November 2022 157,236
Additions 105,487
At 31 October 2023 262,723
NET BOOK VALUE
At 31 October 2023 262,723
At 31 October 2022 157,236

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 3,370 1,439

PSS FINANCIAL SOLUTIONS LTD (REGISTERED NUMBER: 08645276)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023


7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Listed investments 175,144 113,291

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 2,562 2,363

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 822 5,754

10. RESERVES
Revaluation
reserve
£   
At 1 November 2022 (6,209 )
Investment portfolio (9,134 )

At 31 October 2023 (15,343 )

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £134,500 (2022 - £148,000) were paid to the directors .

At the balance sheet date the company owed its directors £480 (2022: £426).

The loan is free from interest and repayable on demand.

12. ULTIMATE CONTROLLING PARTY

The company is under the control of the directors who own 100% of the issued ordinary share capital.