Period from 1 June 2022 to
Registration number:
Pysa Limited
Balance Sheet
30 November 2023
Note |
2023 |
2022 |
|
Fixed assets |
|||
Intangible assets |
- |
|
|
Tangible assets |
|
|
|
Other financial assets |
10,000 |
10,000 |
|
|
|
||
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets/(liabilities) |
|
( |
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Share premium reserve |
|
|
|
Profit and loss account |
( |
( |
|
Total equity |
|
|
Pysa Limited
Balance Sheet
30 November 2023
For the financial period ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
......................................... |
Company Registration Number: 07646198
Pysa Limited
Notes to the Unaudited Financial Statements
Period from 1 June 2022 to 30 November 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
Science Park Centre
6 Babbage Way
Clyst Honiton
Exeter
Devon
EX5 2FN
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The functional and presentational currency of the company is sterling.
Going concern
In the opinion of the directors, the company has sufficient working capital within existing facilities to continue to trade for the foreseeable future, and therefore the financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when services are provided.
Pysa Limited
Notes to the Unaudited Financial Statements
Period from 1 June 2022 to 30 November 2023
Government grants
Grant income is accounted for using the accruals method. Revenue grants are recognised on a systematic basis over the periods to which the costs to which the grants relate are recognised. Capital grants are recognised over the useful life of the related asset on the same basis as depreciation is charged.
Foreign currency transactions and balances
Tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
25% reducing balance |
Intangible assets
Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and amortised over its estimated useful life.
Development costs
Development costs are capitalised where they meet the criteria for recognition in FRS102.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
Over 10 years |
Development costs |
Over 5 years |
Pysa Limited
Notes to the Unaudited Financial Statements
Period from 1 June 2022 to 30 November 2023
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Share based payments
Equity-settled share-based payments are measured at fair value at the date of grant. The fair value determined at the grant date of the equity-settled share payments is expensed on a straight-line basis over the vesting period, based on the company's estimate of the number of shares that will eventually vest.
The fair value of share options is measured using the Black-Scholes model on the grounds there are no market related vesting conditions.
Financial instruments
Classification
• Contingent consideration;
• Short term other debtors and creditors; and
• Cash and bank balances.
All financial instruments are classified as basic except contingent consideration.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Basic financial instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Contingent consideration is initially measured at the amount estimated to be received and this estimate is adjusted at each susbsequent balance sheet date.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Pysa Limited
Notes to the Unaudited Financial Statements
Period from 1 June 2022 to 30 November 2023
Government grants |
During the period the company received £nil (2022 - £17,374) in Government Grants.
Pysa Limited
Notes to the Unaudited Financial Statements
Period from 1 June 2022 to 30 November 2023
Intangible assets |
Goodwill |
Internally generated software development costs |
Total |
|
Cost or valuation |
|||
At 1 June 2022 |
|
|
|
Disposals |
( |
( |
( |
At 30 November 2023 |
- |
- |
- |
Amortisation |
|||
At 1 June 2022 |
|
|
|
Amortisation eliminated on disposals |
( |
( |
( |
At 30 November 2023 |
- |
- |
- |
Carrying amount |
|||
At 30 November 2023 |
- |
- |
- |
At 31 May 2022 |
|
|
|
Pysa Limited
Notes to the Unaudited Financial Statements
Period from 1 June 2022 to 30 November 2023
Tangible assets |
Office equipment |
Total |
|
Cost or valuation |
||
At 1 June 2022 |
|
|
Additions |
|
|
Disposals |
( |
( |
At 30 November 2023 |
|
|
Depreciation |
||
At 1 June 2022 |
|
|
Charge for the period |
|
|
Eliminated on disposal |
( |
( |
At 30 November 2023 |
|
|
Carrying amount |
||
At 30 November 2023 |
|
|
At 31 May 2022 |
|
|
Other financial assets (current and non-current) |
Financial assets at cost less impairment |
Total |
|
Non-current financial assets |
||
Cost or valuation |
||
At 1 June 2022 |
10,000 |
10,000 |
At 30 November 2023 |
10,000 |
10,000 |
Impairment |
||
Carrying amount |
||
At 30 November 2023 |
|
10,000 |
Pysa Limited
Notes to the Unaudited Financial Statements
Period from 1 June 2022 to 30 November 2023
Debtors |
2023 |
2022 |
|
Trade debtors |
|
|
Other debtors |
|
|
|
|
Pysa Limited
Notes to the Unaudited Financial Statements
Period from 1 June 2022 to 30 November 2023
Creditors |
Note |
30 November 2023 |
31 May 2022 |
|
Due within one year |
|||
Loans and borrowings |
|
|
|
Social security and other taxes |
|
|
|
Outstanding defined contribution pension costs |
- |
|
|
Other creditors |
|
|
|
Director's current account |
1,203 |
1,703 |
|
Accrued expenses |
|
|
|
|
|
||
Due after one year |
|||
Loans and borrowings |
|
|
Loans and borrowings |
2023 |
2022 |
|
Loans and borrowings due after one year |
||
Bank borrowings |
|
|
2023 |
2022 |
|
Current loans and borrowings |
||
Bank borrowings |
|
|
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
129 |
|
129 |
|
|
6 |
|
6 |
|
|
|
|
Pysa Limited
Notes to the Unaudited Financial Statements
Period from 1 June 2022 to 30 November 2023
Related party transactions |
Summary of transactions with entities with joint control or significant interest
Disposal of operations |
In October 2023, the company disposed of certain of its operations.