2023-01-012023-12-312023-12-31false07328378PSL London 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PSL London Limited

Registered Number
07328378
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

PSL London Limited
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

Ian Richard Miller

Registered Address

42 High Street, Wanstead
London
E11 2RJ

Registered Number

07328378 (England and Wales)
PSL London Limited
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets312,17914,029
Tangible assets4-361
12,17914,390
Current assets
Debtors53,9201,099
Cash at bank and on hand2914,599
4,2115,698
Creditors amounts falling due within one year6(11,635)(7,587)
Net current assets (liabilities)(7,424)(1,889)
Total assets less current liabilities4,75512,501
Creditors amounts falling due after one year7(3,527)(18,078)
Provisions for liabilities-(68)
Net assets1,228(5,645)
Capital and reserves
Called up share capital200200
Profit and loss account1,028(5,845)
Shareholders' funds1,228(5,645)
The financial statements were approved and authorised for issue by the Director on 11 September 2024, and are signed on its behalf by:
Ian Richard Miller
Director
Registered Company No. 07328378
PSL London Limited
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
PSL London Limited is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
The directors have confirmed that they will continue to give financial support to the company until such time as its position improves. In addition, the directors have confirmed that they will not recall their loans within 12 months. The directors consider that it is appropriate to prepare the financial statements on a going concern basis
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Deferred tax
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.
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. Goodwill Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty years.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Plant and machinery5
Fixtures and fittings5
2.Average number of employees

20232022
Average number of employees during the year11
3.Intangible assets

Total

£
Cost or valuation
At 01 January 2337,000
At 31 December 2337,000
Amortisation and impairment
At 01 January 2322,971
Charge for year1,850
At 31 December 2324,821
Net book value
At 31 December 2312,179
At 31 December 2214,029
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 January 238,197
At 31 December 238,197
Depreciation and impairment
At 01 January 237,836
Charge for year361
At 31 December 238,197
Net book value
At 31 December 23-
At 31 December 22361
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables3,9201,099
Total3,9201,099
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables3,4722,143
Bank borrowings and overdrafts1,6231,711
Amounts owed to related parties2,505391
Taxation and social security4,0353,342
Total11,6357,587
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.
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts3,5275,328
Amounts owed to related parties-12,750
Total3,52718,078