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REGISTERED NUMBER: 12536010 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Property Security Group Limited

Property Security Group Limited (Registered number: 12536010)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Property Security Group Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: C Blunden
A M Hicks





REGISTERED OFFICE: 25 Basingfields Close
Old Basing
Basingstoke
Hampshire
RG24 7BG





REGISTERED NUMBER: 12536010 (England and Wales)





ACCOUNTANTS: Randall Accountancy Limited
22 The Crofts
Basingstoke
Hampshire
RG22 4RF

Property Security Group Limited (Registered number: 12536010)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,000 5,000
Tangible assets 5 115,669 110,707
118,669 115,707

CURRENT ASSETS
Debtors 6 143,870 200,434
Cash at bank 78,415 37,946
222,285 238,380
CREDITORS
Amounts falling due within one year 7 126,403 149,916
NET CURRENT ASSETS 95,882 88,464
TOTAL ASSETS LESS CURRENT
LIABILITIES

214,551

204,171

PROVISIONS FOR LIABILITIES 9 15,349 18,958
NET ASSETS 199,202 185,213

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 199,102 185,113
SHAREHOLDERS' FUNDS 199,202 185,213

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Property Security Group Limited (Registered number: 12536010)

Balance Sheet - continued
31 March 2024


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 Board of Directors and authorised for issue on 11 September 2024 and were signed on its behalf by:





A M Hicks - Director


Property Security Group Limited (Registered number: 12536010)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Property Security Group Limited 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of five 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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 33% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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.


Property Security Group Limited (Registered number: 12536010)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 10,000
AMORTISATION
At 1 April 2023 5,000
Amortisation for year 2,000
At 31 March 2024 7,000
NET BOOK VALUE
At 31 March 2024 3,000
At 31 March 2023 5,000

Property Security Group Limited (Registered number: 12536010)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 135,737 1,248 40,727 1,085 178,797
Additions 40,186 - 44,358 - 84,544
Disposals (45,103 ) - (8,299 ) - (53,402 )
At 31 March 2024 130,820 1,248 76,786 1,085 209,939
DEPRECIATION
At 1 April 2023 52,399 412 14,819 460 68,090
Charge for year 32,108 412 15,492 272 48,284
Eliminated on disposal (22,104 ) - - - (22,104 )
At 31 March 2024 62,403 824 30,311 732 94,270
NET BOOK VALUE
At 31 March 2024 68,417 424 46,475 353 115,669
At 31 March 2023 83,338 836 25,908 625 110,707

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 138,144 197,363
Other debtors 5,726 3,071
143,870 200,434

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 17,061 14,285
Taxation and social security 23,043 44,332
Other creditors 86,299 91,299
126,403 149,916

Property Security Group Limited (Registered number: 12536010)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 9,000 9,000
Between one and five years 8,250 17,250
17,250 26,250

9. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 15,349 18,958

Deferred
tax
£   
Balance at 1 April 2023 18,958
Credit to Statement of Income and Retained Earnings during
year

(3,609

)
Balance at 31 March 2024 15,349

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100