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Registration number: 04295776

The HR PSV Consultancy Limited

Unaudited Financial Statements

for the Year Ended 30 September 2023

 

The HR PSV Consultancy Limited

(Registration number: 04295776)

Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

51,337

51,867

Current assets

 

Stocks

11,500

15,500

Cash at bank and in hand

 

6,374

6,430

 

17,874

21,930

Creditors: Amounts falling due within one year

4

(13,614)

(13,440)

Net current assets

 

4,260

8,490

Total assets less current liabilities

 

55,597

60,357

Creditors: Amounts falling due after more than one year

4

(41,180)

(46,544)

Net assets

 

14,417

13,813

Capital and reserves

 

Called up share capital

4

4

Profit and loss account

14,413

13,809

Shareholders' funds

 

14,417

13,813

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

The HR PSV Consultancy Limited

(Registration number: 04295776)

Balance Sheet as at 30 September 2023

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the director on 24 September 2024
 

.........................................

H J Ramm
Company secretary and director

 

The HR PSV Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

Accounting policies

The HR PSV Consultancy Limited is a private company, limited by shares, domiciled in England and Wales, company number 04295776. The registered office is at 39 Clough Lane, Heywood, Lancashire, OL10 4AW.
 

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 except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Government grants

Grants that do not impose specified future performance-related conditions are recognised in income when the grant proceeds are received or receivable. Grants that impose specified future performance-related conditions are recognised in income only when the performance-related conditions are met. Grants received before the revenue recognition criteria are satisfied are recognised as a liability.

Tax

The tax expense for the period comprises current 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 income 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.

 

The HR PSV Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

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

Motor vehicles

25% reducing balance

Office equipment

25% reducing balance

Land and buildings are not depreciated as the buildings are maintained to a standard that negates any potential diminution in value.

All assets are reviewed regularly for any indicators of impairment.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.
 

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

 

The HR PSV Consultancy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

3

Tangible assets

Land and buildings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost

At 1 October 2022

49,742

4,461

15,705

69,908

At 30 September 2023

49,742

4,461

15,705

69,908

Depreciation

At 1 October 2022

-

4,433

13,608

18,041

Charge for the year

-

5

525

530

At 30 September 2023

-

4,438

14,133

18,571

Carrying amount

At 30 September 2023

49,742

23

1,572

51,337

At 30 September 2022

49,742

28

2,097

51,867

4

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Trade creditors

11,972

11,664

Taxation and social security

1,642

1,226

Other creditors

-

550

13,614

13,440

Creditors: amounts falling due after more than one year

2023
£

2022
£

Bank borrowings

10,438

15,802

Other borrowings

30,742

30,742

41,180

46,544

5

Control

The company is controlled by Mr H J Ramm, the sole director and shareholder.