P.S.E. HOLDINGS LIMITED
Registered number: 02279301
Balance Sheet
as at 30 June 2024
Notes 2024 2022
£ £
Fixed assets
Tangible assets 3 44 1,440,209
Current assets
Cash at bank and in hand 1,703,743 145,326
Creditors: amounts falling due within one year 4 (29,766) (11,132)
Net current assets 1,673,977 134,194
Net assets 1,674,021 1,574,403
Capital and reserves
Called up share capital 100 100
Revaluation reserve 5 - 326,989
Profit and loss account 1,673,921 1,247,314
Shareholders' funds 1,674,021 1,574,403
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P Shelmerdine
Director
Approved by the board on 30 August 2024
P.S.E. HOLDINGS LIMITED
Notes to the Accounts
for the period from 1 January 2023 to 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings Nil
Fixtures and equipment Nil
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Fixtures and equipment Total
£ £ £
Cost
At 1 January 2023 1,454,712 458 1,455,170
Disposals (1,454,712) - (1,454,712)
At 30 June 2024 - 458 458
Depreciation
At 1 January 2023 14,547 414 14,961
On disposals (14,547) - (14,547)
At 30 June 2024 - 414 414
Net book value
At 30 June 2024 - 44 44
At 31 December 2022 1,440,165 44 1,440,209
4 Creditors: amounts falling due within one year 2024 2022
£ £
Corporation tax 27,355 9,500
Other creditors 2,411 1,632
29,766 11,132
5 Revaluation reserve 2024 2022
£ £
At 1 January 2023 326,989 326,989
Disposal of revalued assets (326,989) -
At 30 June 2024 - 326,989
6 Other information
P.S.E. HOLDINGS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
1/2 CLARENDON COURT
OVER WALLOP
STOCKBRIDGE
HAMPSHIRE
SO20 8HU
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