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REGISTERED NUMBER: 03239788 (England and Wales)










REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH NOVEMBER 2023

FOR

PERSONAL AUDIT SYSTEMS LTD

PERSONAL AUDIT SYSTEMS LTD (REGISTERED NUMBER: 03239788)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2023




Page

Company Information 1

Report of the Director 2

Balance Sheet 3 to 4

Notes to the Financial Statements 5 to 7


PERSONAL AUDIT SYSTEMS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH NOVEMBER 2023







DIRECTOR: Mr M Beech



SECRETARY: Mr P Carter



REGISTERED OFFICE: Unit 5, Enterprise House
Manchester Science Park
Pencroft Way
Manchester
Lancashire
M15 6SE



REGISTERED NUMBER: 03239788 (England and Wales)



ACCOUNTANTS: Cadishead Accountancy Services Limited
Britannic House
657 Liverpool Road
Irlam
Manchester
Lancashire
M44 5XD



BANKERS: RBS Bank PLC
Manchester Mosley Street Branch
38 Mosley Street
Manchester
M60 2BE

PERSONAL AUDIT SYSTEMS LTD (REGISTERED NUMBER: 03239788)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 30TH NOVEMBER 2023

The director presents his report with the financial statements of the company for the year ended 30th November 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of software development and specialist computer services.

DIRECTOR
Mr M Beech held office during the whole of the period from 1st December 2022 to the date of this report.

The director shown below was in office at 30th November 2023 but did not hold any interest in the following:

Ordinary shares of £0.001p each
Non Voting shares of 0.001p each

at 1st December 2022 or 30th November 2023.

Mr M Beech

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr M Beech - Director


30th August 2024

PERSONAL AUDIT SYSTEMS LTD (REGISTERED NUMBER: 03239788)

BALANCE SHEET
30TH NOVEMBER 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 14,373 17,217
14,373 17,217

CURRENT ASSETS
Debtors 5 430,194 266,235
Cash at bank 3,218,357 5,425,151
3,648,551 5,691,386
CREDITORS
Amounts falling due within one year 6 1,199,903 3,225,419
NET CURRENT ASSETS 2,448,648 2,465,967
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,463,021

2,483,184

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 2,985 2,985
Capital redemption reserve (14,985 ) (14,985 )
Retained earnings 2,474,921 2,495,084
SHAREHOLDERS' FUNDS 2,463,021 2,483,184

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PERSONAL AUDIT SYSTEMS LTD (REGISTERED NUMBER: 03239788)

BALANCE SHEET - continued
30TH NOVEMBER 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 30th August 2024 and were signed by:





Mr M Beech - Director


PERSONAL AUDIT SYSTEMS LTD (REGISTERED NUMBER: 03239788)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2023

1. STATUTORY INFORMATION

Personal Audit Systems 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.

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 reducing balance
Computer equipment - 33% 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 balance sheet date.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

PERSONAL AUDIT SYSTEMS LTD (REGISTERED NUMBER: 03239788)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1st December 2022 31,759 25,470 227,399 284,628
Additions - - 1,591 1,591
At 30th November 2023 31,759 25,470 228,990 286,219
DEPRECIATION
At 1st December 2022 30,454 9,949 227,008 267,411
Charge for year 326 3,880 229 4,435
At 30th November 2023 30,780 13,829 227,237 271,846
NET BOOK VALUE
At 30th November 2023 979 11,641 1,753 14,373
At 30th November 2022 1,305 15,521 391 17,217

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 295,887 226,272
Amounts owed by group undertakings 112,738 -
Other debtors 21,569 39,963
430,194 266,235

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 1,891 3
Trade creditors 11,280 3,610
Amounts owed to group undertakings - 2,923,161
Taxation and social security 320,836 170,244
Other creditors 865,896 128,401
1,199,903 3,225,419

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.11.23 30.11.22
£    £   
Within one year 18,539 26,172
Between one and five years - 18,539
18,539 44,711

PERSONAL AUDIT SYSTEMS LTD (REGISTERED NUMBER: 03239788)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2023

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30th November 2023 and 30th November 2022:

30.11.23 30.11.22
£    £   
Mr M Beech
Balance outstanding at start of year 9,353 -
Amounts advanced - 9,353
Amounts repaid (9,353 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 9,353

9. ULTIMATE CONTROLLING PARTY

The controlling party is Personal Audit Systems Holdings Ltd.

The ultimate controlling party is Mr M Beech.