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REGISTERED NUMBER: 08943695 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

FOR

PETTIT SINGLETON ASSOCIATES LTD

PETTIT SINGLETON ASSOCIATES LTD (REGISTERED NUMBER: 08943695)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PETTIT SINGLETON ASSOCIATES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: S B Pettit
J D Dobson





REGISTERED OFFICE: Chandler House
7 Ferry Road Office Park
Riversway
Preston
Lancashire
PR2 2YH





REGISTERED NUMBER: 08943695 (England and Wales)





ACCOUNTANTS: Wallwork Nelson & Johnson
Chandler House
7 Ferry Road Office Park
Riversway
Preston
Lancashire
PR2 2YH

PETTIT SINGLETON ASSOCIATES LTD (REGISTERED NUMBER: 08943695)

BALANCE SHEET
31 AUGUST 2023

31/8/23 31/8/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 54,441
Tangible assets 5 50,531 68,139
50,531 122,580

CURRENT ASSETS
Debtors 6 827,051 659,469
Cash at bank and in hand 435,734 262,462
1,262,785 921,931
CREDITORS
Amounts falling due within one year 7 901,506 654,711
NET CURRENT ASSETS 361,279 267,220
TOTAL ASSETS LESS CURRENT
LIABILITIES

411,810

389,800

CREDITORS
Amounts falling due after more than one
year

8

6,475

12,475
NET ASSETS 405,335 377,325

CAPITAL AND RESERVES
Called up share capital 9 50,100 50,100
Retained earnings 10 355,235 327,225
SHAREHOLDERS' FUNDS 405,335 377,325

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

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

PETTIT SINGLETON ASSOCIATES LTD (REGISTERED NUMBER: 08943695)

BALANCE SHEET - continued
31 AUGUST 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 7 August 2024 and were signed on its behalf by:




S B Pettit - Director



J D Dobson - Director


PETTIT SINGLETON ASSOCIATES LTD (REGISTERED NUMBER: 08943695)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1. STATUTORY INFORMATION

Pettit Singleton Associates 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.

Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of Creditors due within one year.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of eight years.

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.

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 - 25% on cost
Computer equipment - 25% on cost

Tangible assets are originally stated 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.


PETTIT SINGLETON ASSOCIATES LTD (REGISTERED NUMBER: 08943695)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
The directors believe that the company has sufficient trade and financial resources to continue in operational existence for the foreseeable future. Thus the going concern basis of accounting in preparing the annual financial statements has been adopted.

Other income
Other income includes management fees receivable and staff costs recharged to companies under common control.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2022 - 34 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 550,000
AMORTISATION
At 1 September 2022 495,559
Charge for year 54,441
At 31 August 2023 550,000
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 54,441

PETTIT SINGLETON ASSOCIATES LTD (REGISTERED NUMBER: 08943695)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Site and Computer
Equipment fittings equipment Totals
£    £    £    £   
COST
At 1 September 2022 967 26,566 109,643 137,176
Additions - 658 17,428 18,086
Disposals - - (15,578 ) (15,578 )
At 31 August 2023 967 27,224 111,493 139,684
DEPRECIATION
At 1 September 2022 652 13,879 54,506 69,037
Charge for year 241 6,745 21,447 28,433
Eliminated on disposal - - (8,317 ) (8,317 )
At 31 August 2023 893 20,624 67,636 89,153
NET BOOK VALUE
At 31 August 2023 74 6,600 43,857 50,531
At 31 August 2022 315 12,687 55,137 68,139

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/23 31/8/22
£    £   
Trade debtors 364,644 245,153
Amounts recoverable on contract 205,866 203,294
Other debtors 267 267
Amounts due from related parties 89,019 32,558
Directors' current accounts - 19,749
Deferred tax asset
Accelerated capital allowances 8,981 2,670
Prepayments and accrued income 158,274 155,778
827,051 659,469

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/23 31/8/22
£    £   
Trade creditors 91,843 40,030
Tax 84,012 89,381
Social security and other taxes 38,786 35,692
VAT 106,908 130,959
Other creditors 2,918 1,233
Amounts owed to related parties 351,192 261,865
Directors' current accounts 51,018 22,108
Accruals and deferred income 174,829 73,443
901,506 654,711

PETTIT SINGLETON ASSOCIATES LTD (REGISTERED NUMBER: 08943695)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/8/23 31/8/22
£    £   
Preference shares 6,475 12,475

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/8/23 31/8/22
value: £    £   
50,100 Ordinary £1 50,100 50,100

10. RESERVES
Retained
earnings
£   

At 1 September 2022 327,225
Profit for the year 233,810
Dividends (205,800 )
At 31 August 2023 355,235

11. RELATED PARTY DISCLOSURES

PSA Compliance Limited is a company under the control of the Directors. Other creditors includes amounts owed to PSA Compliance Limited of £351,192 (2022: £261,865). Trade debtors includes £87,369 owed by PSA Compliance Limited.

Pettit Singleton Associates (Cumbria) Limited is also under control of the Directors. Other debtors includes amounts owed by Pettit Singleton Associates (Cumbria) Limited of £89,019 (2022: 32,558). Trade debtors includes £34,146 owed by Pettit Singleton Associates (Cumbria) Limited.

12. ULTIMATE CONTROLLING PARTY

The company is under the control of the Directors but no Director has individual control.