PSL SHOPFITTING LIMITED

Company Registration Number:
08275685 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2023

Period of accounts

Start date: 01 January 2023

End date: 31 December 2023

PSL SHOPFITTING LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2023

Balance sheet
Notes

PSL SHOPFITTING LIMITED

Balance sheet

As at 31 December 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 94,963 27,562
Total fixed assets: 94,963 27,562
Current assets
Debtors: 4 1,149,325 817,765
Cash at bank and in hand: 1,670,457 1,629,194
Total current assets: 2,819,782 2,446,959
Creditors: amounts falling due within one year: 5 (623,003) (717,840)
Net current assets (liabilities): 2,196,779 1,729,119
Total assets less current liabilities: 2,291,742 1,756,681
Provision for liabilities: (14,106) (6,891)
Total net assets (liabilities): 2,277,636 1,749,790
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 2,277,635 1,749,789
Shareholders funds: 2,277,636 1,749,790

The notes form part of these financial statements

PSL SHOPFITTING LIMITED

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 17 September 2024
and signed on behalf of the board by:

Name: Mr M T E Roberts
Status: Director

The notes form part of these financial statements

PSL SHOPFITTING LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received and receivable in respect of construction services undertaken in the year, excluding discounts and VAT.

Tangible fixed assets and depreciation policy

Tangible fixed assets, which comprise plant and machinery are stated at cost less accumulated depreciation. Depreciation is provided to write off the cost of each asset over its estimated useful life at the rate of either 25% or 50% on cost.

Other accounting policies

Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

PSL SHOPFITTING LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

2. Employees

2023 2022
Average number of employees during the period 4 4

PSL SHOPFITTING LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible Assets

Total
Cost £
At 01 January 2023 46,902
Additions 89,990
Disposals (23,504)
At 31 December 2023 113,388
Depreciation
At 01 January 2023 19,340
Charge for year 13,775
On disposals (14,690)
At 31 December 2023 18,425
Net book value
At 31 December 2023 94,963
At 31 December 2022 27,562

PSL SHOPFITTING LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Debtors

Debtors - amounts falling due within one year comprise as follows: For year ended 31 December 2023: Trade debtors £847,681 and other debtors £301,644. For the year ended 31 December 2022: Trade debtors £516,732 and Other debtors £301,033.

PSL SHOPFITTING LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Creditors: amounts falling due within one year note

Creditors comprise: At 31 December 2023: Trade creditors £85,355, taxation and social security £403,870 and other creditors £133,780. At 31 December 2022: Trade creditors £64,535, Taxation and social security £433,632, and other creditors £219,673.

PSL SHOPFITTING LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Loans to directors

Name of director receiving advance or credit: Mr M T E Roberts
Description of the loan: Advance
£
Balance at 01 January 2023 221,526
Advances or credits made: 21,755
Advances or credits repaid: 50,000
Balance at 31 December 2023 193,281

The advance to the director is unsecured and repayable upon demand. Interest charged on the loan for the year amounted to £4,510 (2022: £4,204).